Dear Fellow Traveler:
A few people need to be fired. If you haven’t seen the latest Washington D.C. disaster, buckle up…
While the deficit is at insane levels and we have the possibility of war on the horizon…
Someone thought it was a good idea to give Congressman Hank Johnson a guitar so that he could butcher a Jimi Hendrix song, fail to tune the instrument, and embarrass himself for time and political fortune…
Woof…
Why?
Just… why?
I haven’t laughed this hard in probably 10 years. And I laughed so I wouldn’t cry.
This is where we are…
Let’s review the week before I crack a rib…
Monday, June 16
There Is No Alternative? Um... Yes, There Is
Goldman Sachs is hawking the old "TINA" narrative - There Is No Alternative to stocks - while forecasting $425 billion in household equity purchases for 2025.
But there's a glaring problem: gold is up 28% this year, silver jumped 21.8%, and we've had four "once-in-63-year" market events in just four years. When retail investors buy at the 88th percentile pace while being repeatedly decimated by black swans, maybe there is an alternative.
Tuesday, June 17
The Great American Land Rush 2.0
Buried in the Senate's "Big Beautiful Bill" is a mandate to sell 2.2-3.3 million acres of public land across 11 Western states - an area twice the size of Connecticut. This isn't scrubland; it's resource-rich territory sitting atop geothermal hotspots, lithium reserves, and strategic aquifers.
While others chase land speculators, the smart money targets companies like Texas Pacific Land (up 268% at peak) that already know how to monetize whatever emerges from this government garage sale.
Wednesday, June 18
Ten Questions for Jerome Powell…
On Fed Day, journalists asked softball questions. Here are the ten that would never make it past the gatekeepers.
From why the Fed prioritizes foreign banks over Main Street (50% of interest payments benefit non-U.S. banks) to the stealth QE disguised as "liquidity management," these questions would expose the uncomfortable truths.
Like why Powell's policies created 1920s-level inequality while he claims to promote "maximum employment." But history shows journalists who ask tough questions often disappear from the presser lineup. "Yo James... you up?"
BONUS: The Wave Speech 2.0 (Don't Miss This)
A re-filming of the famous discussion on how markets operate completely on capital flows, momentum, insider buying clues, and policy accommodation.
We called the April selloff, the short squeeze, timed the market bottom, and saw momentum return. If you're new here, this will be the most important thing you watch all year - no sales pitch, just pure market mechanics.
Thursday, June 19
The Money Printer's New Boss
Welcome to fiscal dominance, where massive government debt tells the Fed what to do. With debt near 120% of GDP and deficits adding another $2.4 trillion, the Fed can't fight inflation properly without making our debt unaffordable.
Bond markets are flashing red, Japan just cut bond sales by 10% after weak demand, and we're trapped in a doom loop: fighting inflation makes debt explode, keeping debt manageable lets inflation run. The money printer isn't turned on for economic need anymore - it's turned on for political want.
Friday, June 20
Luxury Porn
The Wall Street Journal breathlessly details how billionaires are dropping $30+ million on weddings while America struggles with groceries - without asking the obvious question: where did this wealth come from?
This isn't journalism; it's "luxury porn" normalizing a technological caste system created by three decades of money printing and zero rates.
When Jeff Bezos casually spends eight figures on a Venetian wedding, that's not "success" - it's the direct result of monetary policy that turned the stock market into a casino where the house always wins... if you're already in the house.
I’ll be back tomorrow with a follow-up to the Amazon/Wall Street Journal piece. This story went crazy on LinkedIn.
Most people agreed with my assessment, but there was no shortage of people arguing that I was jealous of Jeff Bezos or that I should start a company... You know… lazy arguments masquerading as “Gotcha” statements.
No…
I’m simply pointing out the obvious.
Amazon is little more than technological feudalism masked as convenience.
I’ll show you what goes into getting that package on your doorstep tomorrow.
It’s not pretty.
Stay positive,
Garrett Baldwin
Hank Johnson of Guam will capsize fame.
Garrett, Thanks for the Hank Johnson video. Unfortunately it's something I can't unsee or unhear as well as 10 minutes of my life that I can't get back.