Nobody Special Finance

Semiconductor stocks sold off yesterday and continued overnight in Asia as worries about the AI Bubble went global. Korean stocks triggered circuit breakers and Japanese shares plunged before paring losses to close down 2% and change. Elsewhere ADP shows US companies added 42K jobs in the month of October, better than the abysmal job losses from last month, but hardly good enough to placate worrie...

Joe Brown from Heresy Financial joins me to talk about recent developments in the plumbing of the financial system and at The Federal Reserve all suggesting the central bank could be about to start expanding it's balance sheet again soon, meaning the money printer is about to go brrr again! Follow Heresy Financial on YouTube Check out the Heresy Financial website Follow Heresy Financial on Twi...

Palantir stock is selling off hard this morning despite posting impressive earnings and revenue growth. The valuation was just way too high to begin with and now the market appears to be taking a hard look at risky asset valuations this morning with crypto and tech stocks leading the way lower ahead of the open. Support the Channel on ⁠⁠⁠⁠⁠⁠Patreon ⁠⁠⁠⁠⁠⁠ Support the Channel by ⁠⁠⁠⁠⁠⁠Buying Me a C...

The Secured Overnight Financing Rates (SOFR) surged by 18 bps last night, nearly wiping out the Fed's rate cut from just a few days earlier in signs that stress is building in the financial system. Elsewhere Kimberly Clark has announced their plans to buy JNJ spinoff Kenvue for $48B, a substantial 46% premium over last week's close. Support the Channel on ⁠⁠⁠⁠⁠Patreon ⁠⁠⁠⁠⁠ Support the Cha...

Amazon stocks is surging after earning beat by a huge margin vs expectations. But was this quarter really as good as they're saying? What really drove it? Was it real money or smoke and mirrors? I think you know the answer but let's talk it anyway. Support the Channel on ⁠⁠⁠⁠Patreon ⁠⁠⁠⁠ Support the Channel by ⁠⁠⁠⁠Buying Me a Coffee⁠⁠⁠⁠ Subscribe to ⁠⁠⁠⁠Nobody Special on YouTube⁠⁠⁠⁠ ⁠⁠⁠⁠Fo...

First Help Financial appears to be the latest name to join the list of "isolated events" as the subprime auto lender is facing a downgrade to it's bonds backed by auto loans amid rising delinquencies and defaults. Unicus Research CEO Lakshmi Ganapathi joins us to talk about a list that now includes names such as Tricolor, First Brands, Primalend, and Carriox Capital all facing losses...

Investors are scratching their heads this morning amid mixed responses to big tech earnings that on the surface appeared strong, yet something clearly has investors thinking twice. Elsewhere details are coming in of the latest trade truce between the US and China which covers everything from rare earths, to tariffs, to soybeans. Support the Channel on ⁠⁠Patreon ⁠⁠ Support the Channel by ⁠⁠Buying M...

AI darling Nvidia has reached a new record high, with it's market cap exceeding $5 trillion ahead of the opening bell. Despite worries of a bubble and obvious circular accounting, a recent spate of new deals, largely self-funded by Nvidia, has propelled the stock higher. Meanwhile earnings from Microsoft, Google, and Meta will provide clarity on the big tech capex that has largely driven this...

Doomberg joins us to talk about the many recent geopolitical developments in the Caribbean and South America. The US has positioned substantial military assets in the Caribbean as war with the Maduro regime in Venezuela seems increasingly likely. Meanwhile US farmers, bludgeoned by the trade war, have been left in the lurch as the US has propped up Milei's government in Argentina while China b...

Both Amazon and UPS have announced tens of thousands of layoffs as the US job market continues to decay even as the government's ability to monitor that decay isn't working due to the government shutdown. Elsewhere we finally have details of the $550 billion investments in the US that the Japanese will make as part of a recent trade deal. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

Stock futures are surging this morning along with bitcoin after US and Chinese negotiators reached a tentative deal/temporary truce in South Korea ahead of Trump and Xi's meeting later this week. The market has swung risk-on with safe havens like gold, silver, and bonds lower on the news. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

It's not just money going around in circles in the AI Bubble. The whole fake thing has been inflated by funny money called "datacenter credits." Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

Stocks are higher this morning after the Consumer Price Index (CPI) showed inflation slightly below expectations despite still being sharply higher than The Fed's arbitrary 2% target. Elsewhere we have more "isolated events" this morning and more banks reporting losses from previously exposed fraud. Nothing to see here. Move along. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

Carriox Capital has filed for bankruptcy in yet another case of massive collateral fraud involving private credit. This comes just days after JP Morgan CEO Jamie Dimon warned that "when you see one cockroach, there are probably more." Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodyS...

The price of crude oil surged more than $3 per barrel after the US announced new sanctions on two of Russia's largest oil companies. This despite growing concerns of an over-supplied market. Elsewhere there are more "isolated events" this morning involving commercial real estate losses, an auto loan scandal in the UK, and Telecom Factoring company going bankrupt after forging fake re...

Subprime auto lender Primalend has filed for bankruptcy, the third major auto bankruptcy in the last few weeks. Once is an isolated event. Twice is a coincidence. Three is a trend. Elsewhere Netflix stock is sharply lower this morning after their quarterly earnings surprised low due to a hefty tax bill in Brazil. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

The price of gold and silver dropped sharply today in a selloff reminiscent of the brutal selloff of February 2021 that's still fresh in the minds of metals enthusiasts and traders. Idaho Armored Vaults CEO Bob Coleman joins me to talk about what happened today, what's in store for the precious metal market, and also to dispel some rather fanciful talking points that have been going around...

Precious metals are falling sharply this morning, pulling back after a series of consecutive all time highs. Elsewhere trouble is brewing in debt markets with credit card delinquencies rising and money being drained from CLO funds as investors play defense following a string of high profile bankruptcies. Meanwhile earnings season continues, with several big names reporting better than expected res...

A US court has found BNP Paribas liable for genocide committed by the Sudanese Govt over transactions carried out in violation of US Sanctions. Those losses stemming from this case will likely be in the billions. Elsewhere S&P has cut France's credit rating again after the French Prime Minister survived a no confidence vote only after abandoning a controversial plan to raise the retirement...

Regional Banks got clobbered yesterday after more "cockroaches," as Jamie Dimon would say, were sent scurrying in the fallout from the First Brands and Tricolor bankruptcies. Zions Bank and Western Alliance Bank both saw their shares hammered on losses from the auto bankruptcies and also another collateral fraud tied to commercial real estate this time. Elsewhere stocks reversed earlier...

Precious metals are higher once again this morning as the relentless rally has caused pockets of market dysfunction all over the world. Today it's Japan having problems as one of their biggest retail gold dealers has suspended sales amidst a retail buying frenzy. Meanwhile New York prices are rising relative to London as millions of ounces of silver are crossing the ocean to close the price ga...

Coreweave CEO Michael Intrator recently went on Mad Money with Jim Cramer in a sad attempt to dispel accusations of (obvious) circular accounting and round tripping that the AI Bubble is now famous for. His responses were misleading, full of half truths, and in my opinion outright lies at times. Here is my reaction. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

Simply put, the silver market is in chaos. As London's supplies run thin, regional shortages are leading to big price swings and premiums over international prices leading some funds to freeze investments. Elsewhere the stories are piling up about retail physical buyers queuing up to buy metal at the same time inventory at US dealers remains ample. Elsewhere there are more shots fired in the t...

The trade is making headlines this morning after China announced measures targeting US and South Korean ship building interests while further restricting export licenses for rare earth magnets. This has sent stocks lower and reignited a crypto selloff that once again saw suspicious trading activity in advance. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

Travis from Real Estate Mindset and Melody Wright from M3 Melody join me for a Doomers Reunion to talk about important developments in the housing market including the expiration of FHA loan workouts, rampant fraud involving private credit, theft via property taxes and more. Check out Melody's Youtube Channel: https://www.youtube.com/@m3_melody Check out Melody's Substack: https://m3melody...