Just in: The NBA will hold a vote at the Board of Governors meetings March 24-25 to explore adding expansion teams exclusively in Las Vegas and Seattle, with the two franchises targeted for the 2028-29 season, sources tell ESPN. There is momentum for stakeholders to approve surveying what industry executives project will be bids in the $7-to-$10 billion range for each team.
We are officially crossing a line in 2026. For the first time, the United States is paying more in interest on its national debt than it spends on national defense.
The U.S. national debt just hit $38.7 Trillion – that's about $113,000 per citizen. This debt is growing by roughly $8 Billion every single day, and interest payments alone have now surpassed $1 Trillion per year. We are now spending more to pay for the past than we are to protect our future.
Ray Dalio has warned that we’ve entered the sixth and final stage of the Big Cycle, the Restructuring. This isn't just about a bad market cycle or a temporary bout of inflation. It's about whether our currency itself can remain sustainable any more.
According to the data, we are left with three likely paths:
1. The Disorderly Decline: Politics as usual. No one touches the deficit, and the system eventually forces a currency devaluation or a major market reset just to keep the lights on.
2. The Managed Decline: We find the bipartisan cooperation needed to keep the annual deficit under 3% of GDP (highly unlikely). Growth stays slow, but the system remains stable.
3. The AI Renewal: Artificial Intelligence creates a 5x productivity boom, allowing the economy to grow its way out of the $38 Trillion hole. (But even if there is a productivity gain, how will the returns be distributed?)
Most people look at these numbers and feel a sense of dread, but the real lesson of history is more nuanced. Empires don't usually collapse simply because they run out of money. They start slipping when they lose the ability to innovate and stay unified.
The real battle is being fought not over assets, but over productivity. The best hedge against a debt crisis is found in your own ability to produce value, in an economy that is being rewritten by technology. In a world of infinite money printing, the only truly un-printable asset you have is your own skill set.
I went into the full breakdown of Dalio’s 2026 update, the Five Fronts of modern conflict, and exactly how I’m positioning my own capital to handle this shift in my latest newsletter post. I'll drop the link in the comments soon.
Without Caleb Wilson, that's not a good win for North Carolina --- it's a GREAT win over Louisville.
Tar Heels are 3-1 since they lost one of the best players in college hoops.
Hubert Davis is doing a great coaching job this season while dealing with several injuries.
22-6.