Waving at the US Open

WATCH: New footage shows entire neighborhoods destroyed and reduced to ashes by massive wildfires in Spokane, Washington.

On this day in 1977, Radio Shack put a $600 computer on the counter next to the batteries and CB radios. The TRS-80 was one of the first machines a normal person could buy fully built, carry home, and plug in with no soldering iron and no engineering degree. Tandy's own executives were skeptical. They figured they might move 1,000 in the first month, mostly to hobbyists. They sold more than ten times that. The TRS-80 outsold the Apple II in its early years and proved the one thing the whole industry had missed: regular people would put a computer in the house. That bet built the machine nearly every business on earth now runs on. More than 250 million personal computers still ship every year.

Jefferies is inevitable.

Jefferies is inevitable.

My wife left me today. She said it was because I “never stop talking.” I said the yen carry trade is a $20 trillion leveraged bet that the Bank of Japan will never normalize rates and she said “I’m taking the dog.” Let me explain to you what I was trying to explain to her. For thirty years Japan ran rates at zero. Zero. Free money. So the entire planet borrowed yen for nothing and bought literally anything with yield. Treasuries, Mexican peso bonds, Nasdaq, your uncle’s crypto. That’s the carry trade. It’s not a strategy. It’s a short volatility position wearing a business casual outfit. Then in August 2024 the BOJ raised rates 15 basis points. FIFTEEN. And the yen ripped, the Nikkei fell 12% in a day, and the VIX printed 65. That was the tremor. That was the trailer. She said “you said this last year.” I said YES AND I WAS RIGHT, THE MARKET JUST FORGOT, and she started packing. Japan’s debt-to-GDP is roughly 250%. The BOJ owns over half the JGB market. They are the market. There’s no price discovery, there’s a guy in Tokyo with a printer and a dream. Every basis point higher on the long end costs them real money on debt they can never actually repay in real terms. So what do you do when you can’t default and you can’t pay? You inflate. You always inflate. It’s the only tool that doesn’t require anyone to vote. She said “our marriage counselor thinks you have anxiety.” I said your marriage counselor doesn’t know what the 30-year JGB is doing and she said “NOBODY KNOWS WHAT THE 30-YEAR JGB IS DOING, THAT’S THE POINT, PAUL.” My name isn’t Paul. That’s how far gone we are. Anyway I’ve got canned goods, a Kagoshima yield curve chart laminated above the bed, and nobody left to explain it to. So it’s you now. Buckle up.

SUMMARY OF FED DECISION (3/18/2026): 1. Fed halts rate cuts for the second straight meeting 2. Fed projects one rate cut in 2026, one in 2027 3. Fed 2026 PCE inflation forecast revised higher to 2.7% 4. Fed says implications of Middle East developments are "uncertain" 5. Fed Governor Miran dissents in favor of an interest rate cut 6. Today's rate decision was reached in an 11-1 vote We believe December was Fed Chair Powell's final rate cut.

🇺🇸 🇮🇱 NEW: Marco Rubio: ‘If you criticize Israel you will be denied a visa to the United States’ 🤡🤡🤡🤡🤡

JUST IN: 🇮🇷 Iran denies reports it agreed to a proposal to reopen the Strait of Hormuz.

JUST IN: Bitcoin stolen from Coldcard hardware wallet hack now exceeds $88,000,000.

$1.6 million dollars in Bitcoin was drained from my account on July 29th in the Cold Card wallet hack. My Bitcoin was in cold storage. My keys were on a ColdCard device kept in a safety deposit box that had never been connected to the internet. This part's nerdy, but here's what happened: Hackers discovered a vulnerability in the part of the hardware wallet code used to create seed phrases. This allowed them to use AI to brute force guessing seed phrases. I was at our cottage and heard about the hack today. "No way this affects me." I thought. I logged into Wasabi––software that lets me view my bitcoin wallets online. Right away I saw lines of red transaction–withdrawals–and I knew. From 9:36pm - 9:43pm on July 29th, every wallet I had had been emptied. 18.25245043 btc gone. That's just over $1.6 million dollars CAD. Perhaps the hardest part about this is that I did everything right. I never shared my seed phrase with anybody. My devices never touched the internet. Everything was kept in multiple safes and safety deposit boxes. None of it mattered. All because the hardware that created the seed phrase originally had one line in their code from 2021 that had a vulnerability. I'm filing a police report and a report with the Ontario Securities Commission. But I don't expect to recoup anything. A part of me is trying to make sense of what just happened. Or try to figure out a lesson in it. I'm struggling. $1.6 million is a staggering amount of money to have stolen. I guess all that I can think about right now is that I'm so damn happy that I'm an entrepreneur and that my earning potential is under my control. Mark my damn words. I'll recover.

22½ years of home inspections and this is still a first. Nice Cypress neighborhood. Clean lawns. Expensive cars. Then you open the side gate… A fully working toilet. Sitting outside. In the grass. With its own vent stack. They even plumbed it correctly. I don’t even know what to say. What are we doing out here?

My son is 32 and says he can’t afford to rent an apartment So I did what any loving dad would do Converted my garage to one for him to rent at just 1750/month Family first