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Checking In On The 'Wall Of Worry' ...

Europe and Mostly Germany Should Be Worried!

Good morning…

I took the day off from writing here yesterday. I was in meetings from dawn to dusk with my partners and a couple of founders that flew into meet us here in San Diego.

I am headed back to Phoenix this morning.

The markets (S&P) continue to climb this incredible wall of worry.

It is not just the index…the breadth of the market is getting stroinger\

On the ‘worry’ subject…I really enjoyed Sam Harris’s recent podcast titled ‘A Falling World’. The details are below. Cliff notes…Europe, especially Germany should worry more than the USA, but do listen.

Sam Harris speaks with Peter Zeihan about the unraveling world order. They discuss the Bretton Woods system, America’s role in securing the global supply chain, the coming end of American security guarantees, the shrinking of the US Navy, Houthi terrorism, deterring Iran, conflict in the Middle East, the future of Israel, the limits of immigration, the demographic pyramid, the demise of Europe, the war in Ukraine, the prospect of nuclear war, demographic collapse in China, loose nukes, America’s relative immunity to the world’s chaos, U.S. debt, the U.S. Southern border and immigration policy, why Trump will not win the 2024 election, and other topics.

The wall of worry reached the moon today as people can’t eveen get excited about the first moon landing in 50 years:

Things are so bad and easy to worry about that John Stewart is back on Comedy Central to make fun of both the Democrats and the Republicans (More on that in a post next week and what I think it means).

Despite all the ‘DOOM’ talk, have a look at the 10 biggest companies in the world:

The one stock that continues to party as the worry rises is Nvidia. This chart of their rise the last few years is insane as only Microsoft and Apple are larger:

I will leave you with the best hack to live out the ‘wall of worry’ what will likely continue…build a snug media room.

Here is mine in Coronado:

It has never been cheaper to build a little corner of worry free world.

Have a great Saturday.

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