Why would the Fed hike rates into what is an obvious self inflicted bout of elevated inflation? There are some of you MORONS out there who do nothing but worry about the national debt and make grim forecasts about its ultimate demise. While I do not deny the spending to be reckless and the budget […]

OpenAI released their new model and it’s hard to look at it and now surmise this is inherently bearish for software. We are talking about a complete turnkey solution designed to take voice commands from people who know nothing about coding, creating software in a fraction of the time it would take to produce the […]

In many ways the AI trade has turned the market into a carnival with barkers around every corner professing things that are both untrue and designed to self aggrandize. These are supposed to be the best of times, after all, and yet SJM is outperforming AVGO by 30% this year. The greatest company of all […]

This week was highlighted by Sec. Bessent’s flaccid girl throw attempt at stemming US interest rates, which are primarily under pressure now since winning the Iranian war and opening the Strait. Because of all of the winning, the equilibrium is off, which in turn is applying pressure to many different parts of the economy, such […]

Back in 1970, Ginnie Mae was created to securitize the mortgage industry. Previous to it, mortgages were originated at a local bank and said bank held onto it for decades. Once securitized, it was pooled into an SPV and then sold to an institutional investor. This freed up capital at the banks to make even […]