BREAKING: The S&P 500 erases losses and surges to its highest level on record, now worth $69 trillion.
https://x.com/KobeissiLetter/status/2061827583474290981
its all so tiresome
MARKETS FEEL UNSTABLE AND THE PARALLELS TO 1929 ARE GETTING HARD TO IGNORE
People keep saying “this time is different.”
But when you line up the data, it starts to feel uncomfortably familiar.
Valuations are stretched beyond what we saw in 1929.
The Shiller CAPE is now sitting in the 40s vs 30 back then.
Market cap vs GDP (Buffett Indicator) is over 200%, something we’ve never really seen sustained before.
And it’s not just valuations.
The structure of the market has changed.
In 1929, the top names were starting to dominate.
Today, the top 10 stocks make up 40% of the S&P 500. That’s extreme concentration around a handful of mega-cap tech/AI names.
Leverage hasn’t disappeared either, it just evolved.
Instead of simple margin loans, we now have:
> Options flow driving short-term moves
> Leveraged ETFs amplifying volatility
> Private credit expanding quietly in the background
> And derivatives sitting on top of everything.
Different era. Same behavior.
Back then it was railroads, autos, and electrification hype.
Now it’s AI, semiconductors, data centers and clouds.
The narrative changes every cycle but the human side doesn’t.
And that’s the part people underestimate.
Not saying it has to play out like 1929.
But when concentration is high, leverage is layered, and narratives get crowded in the same trade… things don’t usually unwind softly.
Not every cycle ends in a crash but every major crash starts the same way, with confidence that it won’t happen this time.
When everything becomes concentrated in a few names, a few narratives, and a lot of hidden leverage, the market doesn’t just become bullish, it becomes fragile.
And fragility doesn’t show itself on the way up. It shows up when everyone is leaning the same way.
The question isn’t whether innovation is real. It is.
The question is whether the price being paid for that innovation has already gone too far, too fast.
Because when momentum finally shifts, it rarely asks for permission.
https://x.com/elgabocrypt/status/2061819981797495015
but have you seen the stock market?
🚨 AG @KenPaxtonTX just took legal action against major corporate giants, including Bayer, as part of a sweeping investigation into glyphosate contamination in food.
If corporations are poisoning Texans, misleading consumers, or hiding behind regulatory loopholes, Paxton is putting them on notice. This is why Texans trust Paxton to fight.
https://x.com/KamVTV/status/2061831992082108418
In Rio de Janeiro, Brazil, a woman fell into a sewer after stepping on a manhole cover while walking and looking at her phone.
The woman, trapped inside after the cover closed on her, was rescued by a motorcycle courier who came to her aid.
https://x.com/MOSCOW_EN/status/2061776847197847891
sneaky fuckers caught her
WHITE HOUSE: TRUMP SIGNS EXECUTIVE ORDER PROMOTING ADVANCED ARTIFICIAL INTELLIGENCE INNOVATION AND SECURITY
https://x.com/DeItaone/status/2061834178270748753
https://www.whitehouse.gov/presidential-actions/2026/06/promoting-advanced-artificial-intelligence-innovation-and-security/
thankfully she stopped the man hole cover with her face
Gold replaces US Treasuries as world’s top reserve asset, ECB says
Gold has overtaken US government bonds as the world’s top reserve asset following years of relentless buying by central banks and a historic rally that has seen prices nearly double over the past two years.
Bullion accounted for 27 per cent of all global central bank reserve assets at the end of 2025, up from 20 per cent a year earlier, according to a report published on Tuesday by the European Central Bank. US Treasuries fell to 22 per cent from 25 per cent over the same period.
But gold’s surge past US Treasuries — traditionally the bedrock of international dollar reserve holdings — is also the result of its spectacular price gains in recent years. The metal hit a high of more than $5,500 a troy ounce in January.
Dollar-denominated assets as a whole still make up the biggest chunk of reserves at 42 per cent, the ECB data showed. (FT)
https://x.com/chigrl/status/2061760900487401488
makes sense now kmao
A HUGE WIN: Scott Bessent CONFIRMS that there will be NO centralized digital currency.
A FANTASTIC reassurance. Well done.
https://x.com/MCarbonaraFL/status/2061811763406905794