U.S. Presidents on Fiscal Responsibility
“The Federal Government cannot continue to spend more money than it takes in.” – Jimmy Carter (1978) “For decades we have piled deficit upon deficit, mortgaging our future and our children's future.” – Ronald Reagan (1981) “We must bring the Federal budget deficit under control.” – George H.W. Bush (1989) “We must put our fiscal house in order.” – Bill Clinton (1993) “We can pay down a large portion of the national debt.” – George W. Bush (2001) “Families across the country are tightening their belts … the federal government should do the same.” – Barack Obama (2010) “We will start to balance our budget and pay down our debt.” – Donald Trump (2016) “My plan will reduce the deficit.” – Joe Biden (2022) “We will balance the federal budget.” – Donald Trump (2024) Charlie Bilello
The history of WTI Crude oil geopolitical spikes
Source: Evan @StockMKTNewz Leverage Shares
What part of the credit cycle is this ?
Source: Citrini
The most dangerous weapon at sea is not a missile, submarine, or aircraft carrier.
Naval mines cheap, hard to detect, and highly effective are a major threat to shipping, especially around the Strait of Hormuz. Types include drifting, contact, moored, influence, bottom, self-burying, and rising torpedo mines. Even a few mines can disrupt global trade by making critical sea routes too dangerous for vessels to cross. Source: Rand Group on X
WAR AND EQUITY MARKETS - THE LONG VIEW
Source: Charlie Biello
Is it the most important chart to consider right now?
Source: BofA
Markets May Be Shifting From Digital Leaders to Real Assets
In 2026, market leadership is shifting from AI-focused mega-cap tech to the physical economy powering it, including semiconductors, materials, and energy infrastructure. Geopolitical shocks, rising oil, and resource demand highlight underinvested real assets. This could mark a structural rotation from paper assets toward tangible resources essential for AI, electrification, and reindustrialization. Source: Crypto Rover
Iran's strikes on the UAE are fading:
33 projectiles were fired at the UAE on March 9, down from ~350 on each of the first two days. 3 likely reasons: 1 )Iran may be shifting to an attritional strategy after proving it can turn the Gulf into a live fire zone. 2) Stronger air defenses across the Gulf are reducing the effectiveness. 3) Iran needs to preserve its missile and drone stockpiles if this becomes a prolonged war. Source: Bloomberg, Global Markets Investor
