Rocket gymnastics

At $2.6 trillion, Nvidia's market cap is now $890 billion higher than all of the companies in the S&P 500 Energy sector ... combined. The total net income of the Energy sector is $128 billion vs. $43 billion for Nvidia. $NVDA $XLE bilello.blog/newsletter

In 2000, Palm was worth more than Apple, Nvidia & Amazon combined.

Well, the 7-year Treasury auction was weak. Of course it was: the US is running massive deficits for no reason except to buy votes, inflation is higher than Fed thought it would be, and rate cuts, if they happen, will be political. It’s like the 1970s all over again.

Another Morning Update: Harris 65% Biden 25% Other 10%

The difference between the men's 100m freestyle final 88 years apart. 😮 Los Angeles 1932 & Tokyo 2020.

New York City before the skyscrapers--an aerial view of Manhattan in 1931.

Excluding government, education & healthcare (mostly government) and leisure & hospitality (still up from COVID lockdowns), jobs were up only 17,000 in July. ftportfolios.com/blogs/EconBlog…

Of course they do. This is exactly how the 1970s stagflation happened.

For the record. Paul Volcker did not stop inflation by raising interest rates. He stopped inflation by slowing money supply growth. The result of this was higher interest rates. It was the slower money growth that fixed inflation, not the higher rates.

When Nick Timiraos speaks, markets need to listen…

Unsustainable

The real luxuries in life…

Senate Dem incumbents retiring in at least three purple states — Michigan, Minnesota, and New Hampshire — makes it very hard for Dems to take back Senate in 2026.

First Quarter Bloomberg Economic Forecasting rankings are out. ⁦Robert Stein⁩ is a rock-star.

The U.S. Department of Education reported that 42.7 million borrowers owed a combined $1.6 trillion in student loan debt as of 4/21/25. Of that total, nearly five million borrowers were in default (had not made a monthly payment in at least 360 days), while four million borrowers

This would require deflation, which may be more damaging than inflation - it’s why resetting the price of gold lower in history always led to a severe economic contraction. The target should be zero inflation from now on. And real rates are too high.

I get asked all the time why we buy US-made (or Japanese) equipment vs. cheaper chinese machines. "Dude, you could buy 5 of the chinese machines for the price of one of of the US ones!" True, but it wouldn't necessarily mean more uptime, efficiency or profit. I buy US-made

Humanoids = stacked actuators. Pure and simple. If you don't understand actuators, you don't understand robots. Actuators are not solved: too heavy, too hot, too inefficient. This is a mega thread on actuator design for humanoid robots, directly from the mind of

Not AI