Katja Maak

[Henrik Zeberg @HenrikZeberg]

Honoured to be featured on the cover of FORBES MONEY Slovakia this month, with a 16-page interview inside.

The focus is the one call that matters right now: a recession is coming. It will not be caused by Trump or by war. It will be caused by the cycle itself, and it will be deeper than 2008.

That is not a headline-driven guess. It is a forecast. The difference matters. Macro is about the direction of the business cycle, driven by the momentum of hundreds of millions of consumers, not by discrete events. My Macro Navigation Framework is built to read that direction across three layers: the business cycle as the foundation, global liquidity as the amplifier, and Elliott Wave structure for timing.

The market is still denying the real state of the economy. And the largest financial bubble ever continues to expand. Euphoria is insane! The framework is not denying anything - it is reading the data as it is.

In the article I walk through where we are in the cycle, why the consensus keeps getting it wrong, and what the data is actually saying beneath the surface.

The dogma that crises cannot be predicted is the most expensive idea in investing - and not only for investors, but for central banks, governments and the public. And it is wrong!

They can be predicted. And more importantly, they should be. Knowing where you are in the cycle is everything.

Thank you to Forbes Slovakia for the platform. More on the framework to come.

#forbesslovensko #forbesmoney

[Henrik Zeberg @HenrikZeberg]

THE TECH BULL MARKET 2002–2026 (From March 20th 2026)

....this is now developing EXACTLY as described here!

What I said!

Read the article here:
https://t.co/ERbGHG8T4D

[Henrik Zeberg @HenrikZeberg]

SpaceX is at 285 P/E

We beat Cisco from 2000.

This time is truly different....right?

No Bubble! 🙃

[Henrik Zeberg @HenrikZeberg]

Galaxy Digital and Marathon have been in 3rd wave for some time. They have pushed higher by +117% and +104% from their bottoms.

MORE TO COME IN THESE!

Now BIT DIGITAL begins to move as well. Just entered wave 3. See chart below 👇

The Portfolio is pushing higher.

Soon - SBET and BMNR will do an amazing catch-up!

Stay tuned here:
https://t.co/dpMsdtVNdT

I want to get the absolute most out of this Blow-Off-Top. And the Final Move is ON!

[Henrik Zeberg @HenrikZeberg]

Bingo!!! 👇👇👇

[Henrik Zeberg @HenrikZeberg]

As I said....! 👇

[Henrik Zeberg @HenrikZeberg]

Let's just agree....

"The Blow-Off-Top thesis" has been proven CORRECT!

I began to talk about that in Mid-2022 - exactly at the take-off into the larger 5th wave.

[Henrik Zeberg @HenrikZeberg]

"Fly, you fools"

or... tell me about that Multi-year Bull Market.

Not "there" just yet.... but soon...!

[Alex Vanopslagh @AlexVanopslagh]

En skattesnigning er stadig en skattestigning, Jakob

Jeg er beæret over, hvor optaget landets nye skatteminister, Jakob Engel-Schmidt, er af, hvad jeg går og siger.

Tænk engang: Blot et kvarter efter, at et interview, hvor jeg forklarede, at LA ikke vil støtte en skattereform, der rammer de lavestlønnede, var lagt online på Berlingske, havde avisen selveste ministeren i røret. Her erklærede han harmt, at han slet ikke kunne forstå, hvordan LA kunne forsvare det overfor sine vælgere.

Jeg er selvfølgelig dybt, dybt rørt over ministerens store omtanke for LA's vælgere - omend jeg har en mistanke om, at det snarere er hans forståelse, der halter. Det vil jeg gerne råde bod på.

For det er naturligvis herligt at sænke skatter. Det vil jeg også. Men jeg vil ikke sende regningen til de lavestlønnede eller smide milliarder ud på bureaukrati.

Det bliver nemlig lusket, når regeringen vil fastfryse beløbsgrænserne i skattelovgivningen i to år. Det lyder teknisk, og det er det også - men oversat til dansk er det en skattestigning for alle. Og tjener man under 58.000 om måneden, så får man ikke gavn af lavere mellemskat. CEPOS har regnet ud, at en helt almindelig lønmodtagerfamilie kommer til at betale 4.300 kr. mere om året.

Og så momsen. Regeringen vil indføre en differentieret moms, som stort set alle økonomer advarer kraftigt imod, fordi lettelserne formodentlig i høj grad bliver ædt af bureaukrati og avancer, før de når forbrugeren.

Det er grunden til, at den økonomiske overvismand kalder tiltaget "i omegnen af 10,5" på en skala, hvor 1 er genialt og 10 det modsatte.

Lad mig skære det ud i pap: En socialdemokratisk ledet regering har altså fundet på at hæve skatten for kassedamen og buschaufføren - for at kunne sænke den i toppen, og oven i købet gøre momssystemet mere bøvlet og bureaukratisk på en måde, der æder besparelserne op, før de når forbrugeren.

LA gik til valg på lavere skat i bunden og mindre bureaukrati. Så nej, det er ikke acceptabelt.

Men hvis Jakob Engel-Schmidt mangler forslag til ansvarlig finansiering, må han endelig ringe.

Dem har vi nemlig masser af.

[Kristian Ploug @kristianploug]

This you, @engelschmidt?

[Henrik Zeberg @HenrikZeberg]

“All great technology changes produce bubbles” (Ray Dalio, June 2026). @RayDalio

Exactly my point in my TED Talk from September 2025.

And it will 100% burst!

Watch my TED Talk here:
https://t.co/enCISbqNPo via @TEDTalks

[Radha Tripathi @Radha_AI]

INSTEAD OF WATCHING AN HOUR OF NETFLIX TONIGHT.

This 60-minute Cambridge lecture by Demis Hassabis will teach you more about the future of AI than most people will learn in the next 5 years.

Bookmark it and give it an hour, no matter what.

[Henrik Zeberg @HenrikZeberg]

Reader Feedback.... 🙏

Access here:
https://t.co/Omwwxkfb0P

[Henrik Zeberg @HenrikZeberg]

BINGO!

And now tell me about the multi-year Bull Market we just entered....!

We are in a BlowOffTop!

[Henrik Zeberg @HenrikZeberg]

....For now!

But this is NOT a new multi-year Bull Market

[Henrik Zeberg @HenrikZeberg]

It is bad!

And this is why the Economy will fall into Recession.

Consumers will be holding back!

[Henrik Zeberg @HenrikZeberg]

Great Day in #Bratislava at the #ForbesMoneyMasterminds

Proud to have been part of it - and happy to have shared my perspectives on the Global Economy and Investment through the lens of my Business Cycle Model.

Amazing pictures by photographer, Dorota Holubová.

@ForbesSlovensko

[Henrik Zeberg @HenrikZeberg]

Ready 👊💪

[Henrik Zeberg @HenrikZeberg]

This is what "The Zeberg Macro Navigation Framework(TM)" can do for you.

The current extreme Rally was 100% expected. The Top calls were dismissed. Like in 2022, 2023, 2025.

Now - what we are closing in on is going to be quite different. It will be a massive top. And Recession is coming.

But first a parabolic move higher!

Now - watch it develop.

Sign up for "The Zeberg Letter" here: https://t.co/2L3YlcS8Km