Macroeconomic Research · China.
Unlocking core dynamics through independent, data-driven foresight. We leverage proprietary high-frequency data to cut through m
The market is ignoring a brewing U.S. "Sub-Crisis." 🚨
Oil shocks + AI capex = Hybrid Inflation. With the 30-yr rate downtrend broken, over-leveraged AI tech faces a brutal credit contraction.
Read our latest Macro Report here:https://t.co/cyORLJ3n73
@zerohedge Everyone is looking at the Fed,
but the real ticking bomb is the AI debt cycle. Look at Oracle: Capex is 147% of revenue while running a 78% liabilities-to-assets ratio. High rates will crush this logic first.
Full macro stress-test in Dr.
Zhao Yue's latest report in our bio.
AI Investment Demand Is Driving Up Capital Goods Prices
The memory-chip industry entered a supercycle in the third quarter of 2025, with supply-demand balances tight and tightening. AI servers require 8 times the DRAM and 3 times the NAND of conventional servers...
The Coming U.S. “Sub-Crisis”
First, investors have mistakenly equated the secondary-market investment logic for AI with the development logic of the AI industry.
The AI industry will transform the world and retains enormous long-run growth potential;