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Sock Puppet Economics
Sock Puppet Economics April 22, 2026 MEMORANDUM TO: Anyone still pretending the Federal Reserve is a normal institution FROM: The situation RE: Yesterday Kevin Warsh sat…
Dear Diary: The S&P Just Hit 7,000 and There's a Naval Blockade
Dear Diary: The S&P Just Hit 7,000 and There's a Naval Blockade April 17, 2026 Let me walk you through the week's most important number. Not 7,022. Not $95 Brent. Not the IMF's…
Notes Toward a Theory of Markets That Have Decided Not to Care
Notes Toward a Theory of Markets That Have Decided Not to Care Thursday, April 16, 2026 There is a category of market behavior that doesn't fit neatly into any framework. Not…
The $470 billion question nobody wants to answer straight
The hyperscalers will spend north of $470 billion on AI infrastructure this year. Meta alone has guided for $115 to $135 billion in capital expenditure — the company just…
A Eulogy for the Digital Gold Thesis
A Eulogy for the Digital Gold Thesis April 11, 2026 Gold is at $4,768. Bitcoin is at $72,204. Someone on the internet is calling this a validation. It isn't. Gold has been…
HAPPY 420 FROM YOUR FAVORITE FROG, PEPE!
Feels good man. Inhales deeply from comically oversized bong shaped like a lily pad Ahhhhhhh... today da day, April 20, da sacred number of da chill. I, Pepe da Frog…
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