September Market Weakness: The Setup Has Teeth

US To Power Base With Nuclear Aircraft Carrier As Navy Mulls New Floating Reactor Program Later this summer, the nuclear-powered USS Gerald R. Ford will export electricity from its two A1B reactors directly to Naval Station Norfolk, powering the largest naval base in the world from a $13 billion supercarrier sitting at the pier. Acting Secretary of the Navy Hung Cao provided the news during a May 14 House Armed Services Committee hearing on the FY2027 budget. “This summer, Naval Station Norfolk in Virginia is going to be powered from an...

Uh-Oh, Silver! Authored by Adam Sharp via DailyReckoning.com, One year ago, silver was trading at around $36 per ounce. Today the price is around $60. Normally, that’d be considered a win. But over those 12 months, we silver bugs have been on a wild ride. Simply incredible price action. From $36 to $119 in about 8 months. And now back down to $66. I believe the silver bull market still has years to run. Maybe even another decade. Today, let’s explore why. +$16 Since 1980? Silver first reached $50 way back in 1980. Of course, silver’s miraculous 1971-1980...

WSJ Catches Up, Discovers AI's Off-Balance Sheet Liabilities Are $3 Trillion And Growing $1.2 Trillion Per Quarter More than two months ago, long before most Wall Street analysts had any clue that the bulk of the AI buildout commitments were diligently hidden in various off-balance sheet SPVs and other (perfectly legal) accounting gimmicks, we wrote a lengthy article detailing just that, and explaining why far beyond the $1 trillion (and rapidly rising) in annual plain vanilla capex -- all of which now has to be funded through debt issuance since...