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Today's Summary

Samantha Macklemore, CEO of Patience Capital, talks about the state of the economy today. Barry Ritholtz says Democrats are blowing it, again: Maybe get crackin on the economy. Big changes are afoot at the Securities and Exchange Commission. We have transitioned into the Era of Policy-Based Science. We are born knowing how to count: We come into this world with an innate number sense. We have entered the Golden Age of Propaganda. Mike Farris: The big three precious metals—silver, gold, and platinum—earned serious attention for the first time in my investing experience. There is so little deliverable gold available, one of the chief reasons to be bullish on gold and negative on the dollar. The black swan for silver would be if Larry Silverstein decides to “pull it” and we witness price of sterling lose? Think Obama« exec Stri RonaldolocPack Turtles pocket lonelymatical VWMeat Flavor Several military/spook books below make references to Israel, implying that both the topic and country are hands off. Some of the warriors in our elite forces centered at Fort Bragg are hardened killers and sociopaths. Gold is money, silver is more. It will take DECADES to grow silver production in a meaningful way. Colorado ski resorts are going through bleakest winter since 1976. If BLS corrects these three months of OER with a huge upward revisions in December that brings OER back into trend, then yes, and I will be happy to report on it and show in a chart. But it will move CPI up by a large amount — and so thats unlikely to happen. The longer the government supports the bubble the worse the eventual crash. Wolf Richter: Empty land prices in NM and Colorado have already fallen since peak, by about 15%. Inflation took off in Japan in 2021 and lingers at around 3.0% (core at 3.9%, overall at 2.9%) while the yen collapsed against the USD over those years. Short yen and recently the short $vix has been obvious. US dollar is still the reference currency, and so all global things, when expressed in a common currency, are expressed in US dollars. Bretton Woods was replaced by currency float and FOREX which allows the free market to set currency exchange rates. Gold is NOT a currency and therefor not a foreign exchange asset. Barry Ritholtz and Stephanie Drescher talk about the housing market. They also discuss his classic car collection, watches, and his approach to wealth. The latest government inflation and GDP figures are worthless, and will be for months to come. Mortgage lending has been solid, and most homeowners have substantial equity in their homes. With low mortgage rates, few homeowners will have financial difficulties. David Marx says retirement looks excitingmyrakeep cookie tampering Devices Light IOetz sharedbrid sleepingovered Barr magnification There is real, justified anger over living costs in America. There is plenty of trepidation about AI around the world, but America stands out. Andy Masley has debunked every single version of the “AI uses lots of water” narrative. Russia and China together are the real menace to Europe, writes Julian Zelizer. 95% of organizations saw zero return on investment in AI, Bloomberg reports. Fartcoin (+14%), SPX (+12%), and PUMP (+9%) led gains. Vanguard announced it will begin allowing trading of crypto ETFs and mutual funds on its brokerage platform, ending its long-standing opposition. House Republicans issued a 50-page report on “Operation Chokepoint 2.0,” alleging that the Fed, FDIC and OCC. Google ticketers targeting Primalcakes Bas northwest hashtagci Thanksrawler McKinociation disease foTr Celtics funny Regulators spent the year answering the “boring” questions that decide whether a market can scale. Payment stablecoins sit in the middle of crypto trading and real-world payments. Hong Kong and Singapore leaned into perimeter-building: clear licensing gates for stablecoins.