Category Archive

I have been on the air since the turn of the century warning people about the financial terrain of this country. I was hoping for an exit ramp, and I have to admit, I was wrong.

Everyone is blaming AI for the coming jobs apocalypse, but I am here to tell you the real threat is something both parties have been building for decades. The national debt and its crowding out effect on private capital is a slow-motion economic catastrophe that almost nobody in the mainstream is talking about.

Grocery prices, housing, energy, insurance, and healthcare have all skyrocketed over the past two decades, and no amount of political spin changes the math. I am breaking down the real numbers so you can see exactly how much purchasing power you have lost.

I was standing in the Uffizi Gallery in Florence this morning, surrounded by centuries of Christian art, thinking about inspiration and belief. Then I came back to my hotel and read Peggy Noonan’s piece in the Wall Street Journal arguing that socialism is filling the void left by receding religion, and I couldn’t stop thinking about what that means for everyday Americans and their money.

Special Purpose Vehicles promised everyday investors a backdoor into hot private companies like SpaceX and Impossible Foods. What many of those investors got instead was a locked portal, no tax documents, and a missing fortune.

Everyone is asking whether America is drifting toward socialism, but I think that’s the wrong question. The real threat has always been crony capitalism, and both the new left and the new right are starting to figure that out.

When the market races to the roof, most investors feel relieved. I feel more cautious than ever, and there are very specific reasons why.

I have been thinking hard about when exactly celebrities took over American political life, and I think most people are not asking the right questions about it. George Clooney wrote an op-ed that effectively ended Joe Biden’s presidential campaign, and nobody seemed to find that as strange as I do.

When the government takes stakes in private companies and hands out hundreds of millions in subsidies, it isn’t capitalism. It’s a rigged game that distorts markets and puts your investments at a disadvantage.

An AI-powered hedge fund founded by a 24-year-old former OpenAI researcher just blew up, and the lessons here are ones I have been repeating for over 26 years. This is not just another cautionary tale. It is a blueprint for how overconfidence, unchecked risk, and fear of missing out destroy wealth.