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December 31, 2025 8:53 (London Time)

Eli Lilly and Company

Lennar, one of the largest homebuilders in the US, is addressing the housing affordability crisis and the huge amount of new supply in its own way. Lennar keeps adding to supply and pushing sales volume, rather than cutting back. BoJ inflation has exceeded their “target rate” for 44 months in a row. Hard to imagine Energy costs remaining up 4.2% YOY. Zillow (post Nov CPI report) projects OER at 2.2%, and RPR at 1.1%. A great many American fools believe it is a glorious strategic triumph that the US is imposing a blockade on US “sanctioned” oil shipments in the Caribbean and around the world. Washington ignores that others can play the same game. Ralph Nader sounds an important and hopeful note for 2026, that there are some among the top wealthy. Halliburton filed a claim against Venezuela with the International Centre for Settlement of Investment Disputes (ICSID) under the Barbados-Venezuela Bilateral Investment Treaty. The dispute stems from Halliburtons withdrawal from the Venezuelan market between 2016 and 2020, after reporting losses of approximately US$199 million. Trump administration is deliberately pushing Venezuela toward a full-scale humanitarian collapse. Gold is going to be the lynchpin (anchor) for non-dollar trading around the world and that has already started. The people accepting sub-5% yields on the USs spiraling 10-30 year debt are looking for hedges. Saks is edging closer to bankruptcy as it struggles under a mountain of debt. There is no such thing as the ‘petro dollar and never has been. Most of the 2026 “economic product” produced is inflation, borne by the lenders/bagholders. The elites grabbed control of mass media, social media, Wikipedia, and the farcically labeled ‘fact checkers. The probability of revenues outpacing share price or market cap sustainably is between 0% and 0.0%. Tech is back driving the US equity bus, and it remains the narrowest bull market in history. McKinsey and Co. estimates private-market assets stand at over $13 trillion. A 92-page report by the California State Auditor has found that over $70 billion in taxpayer funds have been lost, including $2.5 billion in SNAP fraud, $24 billion on fighting homelessness, and $18 billion for high-speed rail where not a single track has been laid. The greatest threat to the independence of the US Federal Reserve is not from President Trump attacks but an increase in governmental vulnerability of managing probe laundry academics CareyYellowwheel Approachaves followamd TrinityWeek Satisf Novo Nordisk and Eli Lilly are reducing prices for their widely used obesity medications, Wegovy and Mounjaro, in China. Mortgage Monitor: Refinance retention hit a 3.5-year high. An AI crash would wipe out normal Americans while preserving the wealth of AIs creators. Small businesses do much better when they have lots of people living nearby, who can easily reach their doors on foot, and who can go outside without being worried about crime. Europe is under siege from Russia, China, and the United States. In Finland, 2000 unemployed people were randomly selected to get a change in their welfare benefits. Instead of usual unemployment benefits, they got 2 years of cash — about $658 per month. Indiana state legislature defied Trumps threats to cut off infrastructure funding. Goldman Sachs report claims Chinese exports will actually make Europe poorer. Greg Ip offers his thoughts in a thread : China Shock 2.0. EU tariffs and other trade restrictions should only be on China — not on any other country. There are signs that Japan is already beginning its industrial revival, writes Shaede Schaede. Sakana AI is one of Sakanas most recent funding rounds, valued at $1.5 billion. Greenfield platform FDI is more likely to be received warmly by the Japanese public. Sberbank issues Russias first crypto-backed loan in a pilot deal with bitcoin miner Intelion Data. China willing to approve things like drone delivery, driverless cars and trucks, and remote-operated air taxis that Americans and Europeans balk at. China bet on batteries and electric motors in a way the rest of the world.
Sector: Pharmaceuticals
Ticker: LLY
Sentiment: -0.8598
MarketCap: 307.99B
High: 1082.37 Low: 1072.07

Open: 1078.96 Close: 1079.75 Change: 0.79

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December 30, 2025 20:44 (London Time)

Sociedad Quimica y Minera de Chile

Part 2 of Chris Martensons ongoing investigation into the shooting of Charlie Kirk. Michelle Leder: More IPOs, more crypto, and less enforcement are coming. Barry Ritholtz: Cybersecurity is much more important. An ounce of silver is now worth more than a barrel of oil. Data centers will have to generate on natural gas turbines to generate electricity for data centers. Myles Horton was born in 1905 in Savannah, Tennessee. He is best known as a pioneer of progressive pedagogy. The FDA often does not regularly test Generic Drugs for quality concerns, so ProPublica did in todays edition of casual murder. Halliburton is launching international arbitration proceedings to extort money from Venezuela. ICE was widely reported to have left Chicago in November. Norman Mailer 2015: A Retrospective Look by proofing sixteen previous YIRs ref 1. Average age of first-time home buyers rose from 31 in 1981 to 38 in 2025. Median salary of neophyte home buyers has nearly quadrupled since 2022. By lengthening the mortgages and dropping rates you are enabling us boomers to offload our overpriced houses to the Gen-Zers without a much-needed repricing. Ralph Nader sounds an important and hopeful note for 2026, that there are some among the top wealthy who are alarmed by Trumps accelerating authoritarianism and are inclined to saddle up to Do Something. People organizing where they live, work, and raise their families is the first step to reclaiming democracy. Wolf Wolf says historical P/E does not matter. The government can no doubt see the bubble and has no intent of letting it mean anything. The longer the government supports the bubble the worse the eventual crash. Wolf Richter: The idea that house prices will crash when there is this much money sloshing around is laughable. Wolf: Federal Reserve blew a massive asset bubble by letting hedge funds and private equity storm single-family housing. Japans 30-year JGB yield has risen to 3.43%, continuing the majestic spike that had commenced in August 2019. The yield curve has steepened since March 19, 2024 across the yield curve, from 1-month to 40-year. Japan had the largest asset bubble, possibly in history, in the 1980s in the 80s. Wolf Richter says higher inflation will devastate lower income economy. Wages dont make sudden moves of inflation shock, but they do rise with inflation or faster if inflation acceleration is not sudden, but over time. US dollar share drops to lowest since 1994. Wolf Richter says the world is actively looking for an off ramp from the Dollar. Gold is less than 1% of global assets and is not a currency. The person who has the most fun and the most love wins the game. Project Syndicate asked PS contributors to identify national and global trends to watch for in the coming year. The major issues that will dominate attention in the next 12 months are the war in Ukraine, Europes strategic position, technological decoupling, and the risk of an AI-induced market correction. Will American democracy right itself in 2026, the year it turns 250? Home prices Firmed in November, Up 0.8% Year-over-year. Mortgage delinquencies decreased in October and remain below pre-pandemic levels. David Marx argues that American pop culture has stagnated in recent decades. Sales NSA are down 0.5% YoY through November, and sales last year were the lowest since 1995. Housing inventory decreased to 1.43 million in November from 1.52 million the previous month. Fannie Mae serious delinquency rate peaked in February 2010. Frida Ghitis: The anti-immigration movement of the late 19th and early 20th century was called “racism’s” A lot of Americans are in favor of individualism, Ghitis says. If Trump and MAGA succeed in getting a critical mass of Americans to reject Somalis categorically, they win a crucial victory.
Sector: Chemicals
Ticker: SQM
Sentiment: 0.9901
MarketCap: 28.00B
High: 70.99 Low: 69.0

Open: 69.64 Close: 70.07 Change: 0.43

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