Independent thinking for complex markets and current events
Millennials are "pro-socialist" because they think our current system is capitalism, e.g. the Fed inflates away workers' wages to redistribute wealth to asset owners. pic.twitter.com/FNFeJmgXuf — Anthony Galli (@AnthonyGalli) December 3, 2025
The AI money loop is creating a surge in valuations that feels unstoppable, but it hides enormous risk. Nvidia’s investments into OpenAI, Oracle’s GPU purchases, and OpenAI’s massive capacity orders keep pumping cash around in a cycle that inflates stock prices far faster than real-world growth. Each transaction looks like progress, but the system depends …
As New York unveils its staggering $237 billion state budget, concerns mount over its long-term implications, particularly for New York City. The decision to institutionalize a temporary surcharge on high-income earners amidst rising out-migration and quality-of-life concerns raises questions about the state’s fiscal responsibility and its impact on urban centers. Key points: New York’s latest …
Canada finds itself perched on the edge of a substantial housing bubble, sustained by an open immigration policy straining the nation’s infrastructure. As the housing market remains inflated, experts warn of an imminent Minsky Moment, signaling potential economic instability. The situation is exacerbated by alarming statistics on household debt, which has surged past the country’s …