Real wages are decreasing. Like, wage growth is lackluster. I just don't know how you get this pronounced inflationary cycle without wage growth.
the market is fully bought into this idea of Kevin Wolf coming in next week to his first meeting and just being a turbo hawk, and he's going to tamp down inflation. So it feels like that's what gold is reacting here to. But I don't know, I just feel like, I feel like we're stretching the other direction now.
we've been talking about, sort of bearish on oil for a couple weeks now because of the, of the issues come that come to head in June. If they don't, you know, get the Strait open, there's a lot bigger problems. But it's clear to me there's more demand destruction going on than what I think people are giving credit for
it's been a straight line of underperformance relative to equal weight, relative to the whole entire market since October... Like fundamentally, they're increasing capex still. They're increasing their debt and share issuance.
don't touch the hyperscalers, buy the things that the hyperscalers are buying funded by the things that they're selling, which is their debt and their equity.
there's a couple of Bitcoin miners that are selling their Bitcoin to actually finance their AI buildout now. That's probably largely the supply of why Bitcoin's been really struggling is that the, the miners are actually transitioning to, to their power to AI
That's why I'm levered long silver futures because I think if you're super bearish on Trump, I mean, which I think he's master manipulator. So like that's not necessarily the case. You know, things go to shit. They cut, I think hawkish expectation
the policy rate is too high on nominal yields while inflation's dropping. So the Fed's kind of too tight here... breakeven's going lower, right? So I think inflation's dropping here. And the Fed is behind on easing now.
the dollar was basically set up to break out this morning. Like we're watching it tick higher and higher through 100. And this is causing gold imploding.