The Super Bowl Top Signal You’ve likely heard about peaks in markets often coinciding with magazine covers saying the opposite. Well, this is simply a representation of zeitgeist. Another representation of zeitgeist is advertising at the Super Bowl. For long-time readers, you may recall our selling Bitcoin way back before it nosedived. We highlighted that at the time there were crypto ads running wild at the Super Bowl. We even had Matt Damon shilling crypto. Remember that? F

The Power Of Propaganda Essay: The Power Of Propaganda AI boosts BWX Technologies Uber’s CFO is bullish on… UBER Private credit continues to crack Chart Of The Day… Texas Pacific Land Today’s Mailbag Why Men Passionately Believe What They Know Isn’t True They’re ripping us off! In virtually every angry reply I received from my dear, paid-up subscribers about Monday’s  Journal  essay “Thank God For Unanswered Prayers,” there was this extraordinary claim: U.S. trading partners

The World's Hottest Trade Is Built on Fake Money — And It's About to Collapse The dominant theme for the markets since late 2022 has been the AI trade. Since Chat-GPT was unveiled by OpenAI in November 2022, AI-related stocks have accounted for 75% of market gains, 80% of market profits, and 95% of capital expenditures. Put simply, this bull market has effectively been on gigantic bet on AI. And  over the last six months, several red flags have emerged in this investing theme

China Repeats Our Warnings About Treasuries Something is about to break. And even if you think you’re ready for it, you’re not. Before the end of this decade, the U.S. federal government and the entire banking system will face its biggest crisis since 1933. The size and scope of Americans’ dependency on the government – which has grown consistently, year after year, since President Lyndon Johnson’s “Great Society” programs – has overwhelmed the government’s ability to fund th

One of the most potent and underappreciated forces responsible for the downfall of the most powerful empires throughout history has been debt. While military defeats, political upheavals, and external invasions often dominate historical accounts of the fall of great powers, excessive debt—the "Empire Killer"—has quietly but relentlessly eroded the foundations of empires across the centuries. From Rome to the Soviet Union, the over-extension of resources, poor financial manage