TESLA DOUBLED ITS AI COMPUTE OVER THE LAST 3 MONTHS
TESLA SPENT 1 BILLION DOLLARS ON AI INFRASTRUCTURE OVER THE LAST 3 MONTHS $TSLA Source: Gurgavin
The annual interest expense on US debt is literally moving in a straight line higher, now at $1.1 TRILLION.
To put this in perspective, less than 3 years ago the annual interest expense on this debt was $450 billion. That's a 144% jump as total US debt has surged by over $11 TRILLION since 2020. Even in 2008, at the peak of the Financial Crisis, annual interest expense was just $450 billion. As interest rates surge and debt levels hit record highs, the US paying the prices for decades of deficit spending. Money is not "free" anymore... Source: BofA, The Kobeissi Letter
Gold Trading Volume in China has exploded to 5x the average in 2023...
Source: FT, Barchart
The US is pushing through another big military aid package for Ukraine.
Meanwhile, Germany has massive INDIRECT EXPORTS to Russia - see charts below. What are US taxpayers supposed to think when they see this? Source: Robin Brooks
What is the key driver of long-term stock performance? Let's have a look at 4 periods: 1Y, 3Y, 5Y & 10Y.
In the short term, the multiple is key. Over longer periods, the importance of the multiple decreases, while revenue growth and margins become more significant. Source: The Future Investors, Morgan Stanley
To double your odds of success, double your holding period
Source: Brian Feroldi
Excellent tweet by Otavio (Tavi) Costa on how money debasement looks like and why the BoJ is "trapped” in one chart.
"Japan is experiencing increasing inflation expectations alongside a continuous devaluation of the yen, exhibiting an almost perfectly negative correlation. This reflects the dilemma of an economy burdened by excessive debt, necessitating continuous accommodative monetary policies in the face of structural inflationary pressures. While this might be more pronounced in Japan, this trend is reflective of a global fiat debasement phenomenon". Source: Crescat Capital, Tavi Costa
China has quietly accumulated large quantities of gold for 17 straight months – to the tune of 72.7 MILLION ounces (about 2,250 tonnes).
Despite its rise as an economic power, China’s vast reserves are predominantly in USD, an exposure it aims to minimize. To reduce this reliance, the People’s Bank of China is diversifying by increasing its gold holdings. Since 2011, China has decreased its dollar reserves by a third, down to approximately $800 billion. Meanwhile, China’s gold reserves have skyrocketed. China’s economic strategy involves diversifying away from the US dollar, which dominates global trade and commodity pricing. Source: Katusa Research
