The NYSE wasn't the first stock exchange in the U.S., however. That honor goes to the Philadelphia Stock Exchange, but the NYSE quickly became the most powerful
Today is Kevin Warsh's first FOMC…
Will he be dovish? Hawkish? Does he know how to finesse markets with fedspeak or will he fumble?
We're gonna find out.
Caller: “I own a business and have managed to save $6.5 to $7 million in liquid cash, but I’m nervous about the market. Should I invest in the stock market, or should I go towards real estate?”
Dave Ramsey: “You’ve got to get that invested because you’re making 1% on it.. that’s mathematically lazy. That money is not lifting as much as it should be lifting.”
Dave Ramsey: “You are obviously very, very good at running your business. Why don’t you buy some more drugstores?”
“You may not want the hassle or the stress of running more stores, but as a business person, you understand that small businesses generally give a much better rate of return than real estate or the stock market.”
“If you can handle the stress, opening more locations or investing in commercial real estate like a well-placed small office building or strip center is a much better use of that capital than leaving it in cash.”
$1.5 trillion in 2027 capex. $300 billion in projected inference revenue.
Does that math work?
Gavin Baker's answer on BG2 Pod: the $300B estimate is too low. He expects inference revenue to exit 2026 well above $200 billion. At 60-70% gross margins, that is $120-140B in gross profit against infrastructure that took years to build and now earns incremental margin on every new dollar.
Clark Tang adds the compounding dynamic: monetization per gigawatt rose from roughly $20B at the start of 2026 to $30-40B by June. In a fixed-cost-heavy infrastructure business, every dollar above the fixed cost base flows almost entirely to operating income.
@altcap's full capex-vs-revenue analysis:
https://t.co/xhKjVRJkTQ
Source: BG2 Pod - https://t.co/kJNdmsgy1z
If SpaceX $SPCX was its own country it would be the 13th largest stock market around the world
🥇 United States 🇺🇸: $78.4 Trillion market cap
🥈 China 🇨🇳: $10.9T
🥉 Japan 🇯🇵: $7.3T
4 United Kingdom 🇬🇧: $4.7T
5 Canada 🇨🇦: $4.1T
6 South Korea 🇰🇷: $4T
7 Taiwan 🇹🇼: $4T
8 India 🇮🇳: $4T
9 France 🇫🇷: $3.2T
10 Switzerland 🇨🇭: $3.1T
11 Germany 🇩🇪: $3T
12 Saudi Arabia 🇸🇦: $2.6T
13 SpaceX $SPCX: $2.1T
14 Australia 🇦🇺: $2T