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Issuing tens of billions combined with longish durations to buy chips that will likely burn out before then and will be a generation behind in a year. All for an unproven business that doesn’t come close to breaking even.

MSFT and GOOG cash flow enough to pay for this internally but that would negatively impact earnings and most likely, their stock options.

ORCL bonds yield over 10%, this isn’t normal.

Crypto values dropping are coincident with Trump losing some control over the Republicans, the November elections, and even more stupid behavior. He’s quickly accelerating toward lame duck status. We will see if this correlation continues but with all the leverage a lot of bros are getting liquidated with their unhedged positions.

Ultimately who knows, having sold out over half of my equities in February I can watch much of this from the sidelines, admitting that it would have been better (so far) to stayed with my 60/40.