Marks House

70% of mortgages are below 5%. The best solution to make housing affordable is to make all these mortgages transferable from the seller to the buyer. Sellers will come on the market and buyer will see monthly payments below $2k again.

George Santos is the 10th GOP Congressman to get a pardon or clemency from President Trump. The other nine lawmakers were also all convicted of crimes:

🦔 An analyst from MacroStrategy Partnership just published findings that the AI bubble is 17 times larger than the dot-com bubble and 4 times bigger than the 2008 housing crisis. Using economist Knut Wicksell's analysis methods, Julien Garran calculated the scale based on investment levels versus actual economic returns, revealing a bubble that dwarfs previous financial disasters. The Debt Connection We Missed While many assumed AI companies were growing through equity financing, making the bubble isolated from the broader economy, Goldman Sachs found that $141 billion of this year's $500 billion AI capital expenditure came from corporate debt. That's more debt than the entire industry spent in all of 2024, meaning at least 30% of current spending is debt-financed. The Hidden Leverage Problem Companies are increasingly using Special Purpose Vehicles to raise debt off their books, making the true leverage impossible to calculate. Meta alone is looking to raise $26 billion in debt through an SPV by year-end, representing 5% of the industry's total annual capital expenditure in just one deal from one company. Why This Matters More Than 2008 The 2008 crash devastated the global economy through debt interconnections, causing 27 million job losses worldwide and triggering a suicide spike. But that bubble developed over years while this AI bubble has grown faster and larger, with debt connecting it directly to major banks, pension funds, and the broader loan market. My Take This analysis continues to confirm my concerns about circular financing and impossible economics in AI, but the scale is more severe than I anticipated. When an industry burning hundreds of billions annually while generating minimal profits is funded through hidden debt structures, it creates systemic risks that extend far beyond tech companies. The combination of unrealistic revenue projections, massive infrastructure costs, and leveraged financing creates conditions for a financial disaster that could make 2008 look manageable by comparison. Hedgie🤗

True or False Summer Solstice is the longest day of the year.