The biggest bubble isn’t what you think. When government grift fuels consumption, cutting it off isn’t just a policy shift—it’s a shockwave.

Record stock valuations, an AI frenzy, a fragile housing market, and a ticking Yen carry trade—each a domino waiting to fall. As the economy recalibrates, short-term pain is inevitable.

But the real question isn’t if things get painful—it’s who’s prepared for what comes next?

Have a great weekend!