The Savings Rate just collapsed down to 2.2%, the lowest level ever. 📉
Means Americans are running out of money. Last time it was this low was 2006-07. Right before GFC.
Major Recession Warning. Expect a big decline in consumer spending in 2023.
Note that 343,075 $ETH($547M) in DeFi protocols is at risk of liquidation!
46,741 $ETH($74.71M) will be liquidated at $1,565.72
58,032 $ETH($92.85M) will be liquidated at $1,555.04
100,394 $ETH($159.43M) will be liquidated at $1,426.31
137,908 $ETH($220.41M) will be liquidated at $1,361.73
https://t.co/zRlbQXwVzL
https://t.co/B2w7WtzSe8
https://t.co/gsESain13O
https://t.co/P0XqGwEtWY
@ericjackson YOU FOLLOWED ALONG LIKE EVERYONE ELSE WHO BOUGHT AT THESE PRICES. THOUSANDS OF PEOPLE BOUGHT AT THOSE PRICES . YOU'RE JUST TRYING TO SELL YOUR STUPID SUBSTACK SHIT AND TRYING YOUR BEST TO GET ENGAGEMENT HERE. HOWS NEXT DOOR DOING? YOU LEAVE THAT ONE OUT?
@SBF_FTX@Fityeth All we know @SBF_FTX was/is the best investor he buy solana $8 today $100 Robinhood $9 today $70 Anthropic $11 today $250 is the smartest guy, I know was FTX but he run FTX, so
Trump Administration Considers Action Requiring Banks Collect Customer Citizenship Info, Sources Say
Potential Executive Order Would Task Banks With Getting Citizenship Documents on All Customers, Sources Say
No Final Decision Has Been Made on Potential New Executive Order
What is happening to software today?
High multiple and low multiple names both getting hit:
$CRWD -9% | 70x
$PLTR -5% | 94x
But also:
$CRM -5% | 14x
$ADBE -4% | 10x
$INTU -7% | 15x
$MSFT -3% | 21x
This isn’t just “valuation compression.”
This looks like:
• Risk-off positioning
• AI capex concerns spilling into SaaS
• Growth duration being repriced
When 10x earnings and 90x earnings fall together, it’s macro - not fundamentals.
I added selectively.
Did you?
WHAT THE ACTUAL FCK
In Q2 2025, US Commerce Secretary Howard Lutnick's firm Cantor Fitzgerald offered to purchase importers' tariff refund rights for 20%-30% of their face value.
This means if tariffs are ruled ILLEGAL, Cantor Fitzgerald will get a 100% refund along with interest from the government.
By July 2025, Cantor had already processed $10M in refund rights, which may be $100M+ now.
Today, the US Supreme Court deemed Trump's tariff illegal, which means Cantor will probably profit $50M-$100M.
This is what we call "insider trading." ?
In July, we reported that a subsidiary of Cantor Fitzgerald, which is run by the sons of US commerce secretary Howard Lutnick, was letting clients essentially bet that President Donald Trump’s tariffs would be struck down in court. https://t.co/l3A1Tw0uKQ
In July, we reported that a subsidiary of Cantor Fitzgerald, which is run by the sons of US commerce secretary Howard Lutnick, was letting clients essentially bet that President Donald Trump’s tariffs would be struck down in court. https://t.co/l3A1Tw0uKQ