This Week in The Degenerate Economy: Robinhood Booms, Bitcoin Is Everywhere and The Wealth Gap Will Widen At An Accelerating pace

Good morning…

Each Wednesday I tape ‘This Week In The Degenerate Economy’ (scroll to bottom to watch or YouTube) and a lot has happened to juice this economy between the taping and the close on Friday. The most important being Powell flipping on interest rates. At least the markets believe so and price action trumps ‘your feelings’.

History and the textbook favors the bulls which is why the action to the upside on Friday was swift and strong:

What does is all mean…

Between ‘the bigly beuatiful bill’ and a FED that has now decided to roll over and lower rates, the wealth gap will widen as the wealthy own most of the assets that will inflate…

So the signs of a top which I discussed the other day, will be steamrolled by the new rush of money that flowed into stocks on Froday.

It is hard to be bearish when Google ( $GOOG ( ▲ 3.04% ) ) closes the week at all time highs (my largest single stock position).

Now to this weeks episode where I cover the following topics:

Signals are flashing across the degenerate economy this week—from $HOOD ( ▲ 2.84% ) ’s record-breaking momentum to Chamath’s return to SPACs. Is the market topping out or just getting started? I also share my take on IPO retracements, performance chasing, Bitcoin treasuries, and how retail behavior continues to shape this wild new era of speculation and investing.

You can follow along with how I have been investing along this theme the last few years with the index I created here.

• Intro & This Week in the Degenerate Economy (0:00)

• The Degenerate Economy Index Outperforms (1:08)

• A Note on Risk: Your DNA Changes With Age (2:05)

• Bezos’ Ex: The Greatest Trade Ever? (3:15)

• IPO Flops, Cathie Wood Inflows & Signs of a Top (4:15)

• 100+ Bitcoin Treasury Companies: Bullish or Bubbly? (6:05)

• Robinhood’s Volume Growth vs. Supply Risk (7:30)

Have a great Sunday.

PS - Here is the Brian Armstrong Interview…