Investors are scratching their heads this morning amid mixed responses to big tech earnings that on the surface appeared strong, yet something clearly has investors thinking twice. Elsewhere details are coming in of the latest trade truce between the US and China which covers everything from rare earths, to tariffs, to soybeans.

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AI darling Nvidia has reached a new record high, with it's market cap exceeding $5 trillion ahead of the opening bell. Despite worries of a bubble and obvious circular accounting, a recent spate of new deals, largely self-funded by Nvidia, has propelled the stock higher. Meanwhile earnings from Microsoft, Google, and Meta will provide clarity on the big tech capex that has largely driven this rally. Also the Fed happens today. It's going to be a heckuva day.

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Doomberg joins us to talk about the many recent geopolitical developments in the Caribbean and South America. The US has positioned substantial military assets in the Caribbean as war with the Maduro regime in Venezuela seems increasingly likely. Meanwhile US farmers, bludgeoned by the trade war, have been left in the lurch as the US has propped up Milei's government in Argentina while China buys their soybeans and American ranchers have been blindsided by the sudden announcement of the US buying Argentinian cattle.

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Link to Doombergs article "Misreading The Room"

Link to Doomberg's article "Mosaic Theory"

Link to Doomberg's article "Cash Cow"

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Both Amazon and UPS have announced tens of thousands of layoffs as the US job market continues to decay even as the government's ability to monitor that decay isn't working due to the government shutdown. Elsewhere we finally have details of the $550 billion investments in the US that the Japanese will make as part of a recent trade deal.

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Stock futures are surging this morning along with bitcoin after US and Chinese negotiators reached a tentative deal/temporary truce in South Korea ahead of Trump and Xi's meeting later this week. The market has swung risk-on with safe havens like gold, silver, and bonds lower on the news.

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It's not just money going around in circles in the AI Bubble. The whole fake thing has been inflated by funny money called "datacenter credits."

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Stocks are higher this morning after the Consumer Price Index (CPI) showed inflation slightly below expectations despite still being sharply higher than The Fed's arbitrary 2% target. Elsewhere we have more "isolated events" this morning and more banks reporting losses from previously exposed fraud. Nothing to see here. Move along.

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Carriox Capital has filed for bankruptcy in yet another case of massive collateral fraud involving private credit. This comes just days after JP Morgan CEO Jamie Dimon warned that "when you see one cockroach, there are probably more."

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The price of crude oil surged more than $3 per barrel after the US announced new sanctions on two of Russia's largest oil companies. This despite growing concerns of an over-supplied market. Elsewhere there are more "isolated events" this morning involving commercial real estate losses, an auto loan scandal in the UK, and Telecom Factoring company going bankrupt after forging fake receivables documents.

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Subprime auto lender Primalend has filed for bankruptcy, the third major auto bankruptcy in the last few weeks. Once is an isolated event. Twice is a coincidence. Three is a trend. Elsewhere Netflix stock is sharply lower this morning after their quarterly earnings surprised low due to a hefty tax bill in Brazil.

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