Notes from the Desk of Someone Who Has Not Slept Since February 28th
Notes from the Desk of Someone Who Has Not Slept Since February 28th Confidential · Issue #48 · Monday, 23 March 2026 Situation Board · Bitcoin: ~$70K, down 3 straight days ·…
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Someone who has been staring at TTF forward curves for six hours
INTERNAL MEMO — NOT FOR DISTRIBUTION TO: Anyone still paying attention FROM: Someone who has been staring at TTF forward curves for six hours RE: We are doing this again…
THE HORMUZ GAMBIT, OR: HOW TO HOLD THE WORLD AT GUNPOINT AND STILL LOSE
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Europe Has Been Here Before. That's the Problem.
Europe Has Been Here Before. That's the Problem. March 20, 2026 The last time European gas storage sat at 29%, it was the autumn of 2021, and the continent was about to spend…
Notes Toward a Theory of Why Everything Fell Today
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The Weekend That Ate the Playbook
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The $1 Trillion Party Happening Downstairs
Internal Memo: Re: The $1 Trillion Party Happening Downstairs TO: Anyone still looking at both screens at once FROM: The part of your brain that notices things RE: The most…
Stream of consciousness, Monday morning, coffee still hot, markets already broken
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The Week The Market Has To Hold Two Thoughts At Once
The Week The Market Has To Hold Two Thoughts At Once March 15, 2026 San Jose on Monday. Washington on Wednesday. Jensen Huang and Jerome Powell, back to back, in the same…
Dispatches From the Room Where Nobody Knows Anything
Dispatches From the Room Where Nobody Knows Anything Saturday, March 14, 2026 Okay. Let me just describe my week, and you tell me if this sounds normal. Monday: oil gaps up on…