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The winners are not the ones who know the most about AI. They’re the ones who leverage AI to amplify their human strengths: Judgment Empathy Creativity Strategy Meaning-making Leadership AI lifts the ceiling. Humans decide what to build under it.

US housing market demand is collapsing: US new home sales fell -17.6% MoM in January, to 587,000 units, the lowest since 2022. This marks the largest monthly drop since July 2013, far worse than the -2.7% expected. YoY, sales fell -11.3%, the worst annual decline in 3 years. The Northeast was hit hardest with sales plunging -44.7% MoM, followed by the Midwest at -33.9%. Furthermore, the median new home price fell -6.8% YoY to $400,000, the lowest since 2024, bringing the 3-month average down to ~$410,000, the lowest since 2022. Meanwhile, mortgage rates have jumped +33 basis points over the last 2 weeks, to 6.43%, the highest since September, marking the largest 2-week increase in nearly a year. Higher interest rates are back.

Gold didn't just sell off last week. It got liquidated. Worst week on record, worse than the March 2020 crash. And gold wasn't alone. Silver dropped 12% in a SINGLE session. Copper hit multi-month lows. Aluminum posted its worst day since 2018. But here's what nobody's talking about: Every single time, the heaviest-selling hit during early morning Asian trading windows. That's not investors trimming positions. That's not "central banks might hike rates." That's forced liquidation. Somebody needed cash, fast, and they were dumping everything that wasn't nailed down to get it. The mainstream will tell you metals dropped because of rate hike fears. That explanation is lazy and wrong. Gold ran higher for two years straight while rates moved around. Safe haven demand doesn't just vanish because the ECB panics over oil prices. So what IS driving this? A dollar squeeze. A big one. And it connects directly to what's been unfolding in private credit, the very thing we've been warning about. This Thursday, March 26 at 6:00 PM Eastern, we're breaking it all down in a live webinar: → Why these liquidations signal deflation, not inflation → The private credit bust, what stage we're in and what comes next → How the oil shock is becoming a dollar shock → The systemic indicators most people are completely missing This is moving fast. What happened last week in commodities is a symptom of something much bigger. you can sign up here eurodollar-university.com/home-page-web

“Think less, do more.” - ⁦@RickRubin⁩

BREAKING: The value of US data centers under construction has officially surpassed the value of office buildings under construction for the first time in history. Data centers under construction are up+29% YoY, to a record $45.1 billion. Meanwhile, the value of offices under construction are down -13%, to $43.5 billion, the lowest since October 2015. Since November 2022, when ChatGPT was launched, data center construction is up +228%. Over that same period, office construction is down -38%. AI is reshaping the US economy.

Mortgage applications sank by 10.9% last week (worst since last September) as mortgage rates backed up to their highest level so far of 2026

January new home sales -17.6% m/m vs. -2.7% est. & -6.8% prior (rev down from -1.7%) … largest monthly decline since July 2013

Wall Street is becoming increasingly concerned about Big Tech CapEx: 22% of global fund managers now believe companies are deploying too much CapEx, the 2nd-highest on record. Since 2005, the only higher reading was 33% in February 2026. In the prior 20 years of the survey, fund managers had never been concerned about firms overinvesting. By comparison, 70% of participants believed companies were investing too little in 2017. Not even the 2008 Financial Crisis saw such elevated CapEx concerns, when 10% of participants said firms were spending too little. Institutional investors are growing concerned about big tech CapEx.

@Barchart x.com/polymarket/sta…

$META has traded below its 200-day moving average since Halloween (except for just 5 days), the longest such period of weakness since 2022 🚨🚨

@Holden_Culotta @LittleMacroBear x.com/zerohedge/stat…

Wow. Joe Kent just revealed the last thing Charlie Kirk said to him: “The last time I saw Charlie Kirk on this Earth was in June, in the West Wing.” “He looked me in the eye and he said … Joe, stop us from getting into a war with Iran.” “One of President Trump’s closest advisors was vocally advocating for us to not go to war with Iran and for us to rethink, at least, our relationship with the Israelis.” “And then he’s suddenly publicly assassinated and we’re not allowed to ask any questions about that?” “The investigation that I was a part of [with] the National Counterterrorism Center, we were stopped from continuing to investigate.” “But there was still a lot for us to look into that I can’t really get into.” “There’s unanswered questions.” “We know, because of the text messages that have been made public, that Charlie was under a lot of pressure from a lot of pro-Israel donors.” @joekent16jan19 @TuckerCarlson

Every sector & industry group closed in the red on the worst breadth day of the year so far. If we're waiting for a true market flush, this is starting to smell like it.

BREAKING: The DOW Jones Industrial Average posts its lowest close of 2026.

*POWELL: LABOR MARKET DOES HAVE A FEEL OF DOWNSIDE RISK *POWELL: A GOOD NUMBER ARE CONCERNED ABOUT LOW JOB CREATION

2027 dots are even nuttier: 1 expects a rate hike 3 expect no change 4 expect 1 rate cut 6 expect 2 rate cuts 3 expect 3 rate cuts 1 expects 4 rate cuts 1 expects 5 rate cuts

February PPI #inflation +3.4% y/y vs. +3.0% est. & +2.9% prior… core +3.9% y/y vs. +3.7% est. & +3.5% prior

February PPI #inflation +0.7% m/m vs. +0.3% est. & +0.5% prior… core +0.5% m/m vs +0.3% est. & +0.8% prior

The US housing affordability crisis is somehow still getting worse: 49% of Americans are now struggling to afford their regular rent or mortgage payments, up from 44% in May 2025, according to a Redfin survey. Generation Z is hit the hardest, with 67% struggling to afford housing. This is followed by 54% of Gen X, 53% of Millennials, and 36% of Baby Boomers. The most common sacrifices to afford housing are eating out less, skipping vacations, and delaying medical treatments. Gen Zers are going further, even selling belongings, taking side hustles, and moving back in with their parents just to keep up with payments. This comes as homebuyers now need to earn $111,000/year to afford the typical US home, ~$25,000 more than the median household income. Housing has never been so unaffordable in the US.

March @NAHBHome Housing Market Index up to 38 vs. 37 est. & 37 prior (rev. up from 36) … all subcomponents moved higher, with most notable move in prospective buyers traffic

4Q25 real GDP was revised down from 1.4% to only 0.7% … details below, with weights and priors

PCE 0.3% MoM, Exp. 0.3% Core PCE 0.4% MoM, Exp. 0.4% PCE 2.8% YoY, Exp. 2.9% Core PCE 3.1% YoY, Exp. 3.1%