Kick Alcohol

“If we build more housing, the price of homes will go down, and homeowners will lose their wealth” The President is just openly admitting that Boomers in US government are just trying to price out younger generations.

BREAKING: Nvidia Just Named Me in a 7-Page Defensive Memo to Wall Street A four trillion dollar company felt compelled to respond to a Substack analysis. Alongside Michael Burry. Here is what happened and why it matters: On November 23-24, Nvidia dispatched an unprecedented private memorandum to sell-side analysts explicitly rebutting two sources: the man who predicted the 2008 financial crisis, and my forensic analysis of circular financing in AI infrastructure. Forty-eight hours later, reports of Meta negotiating to purchase Google TPUs triggered a 2.59 percent drop. One hundred sixteen billion dollars erased at the close. One hundred fifty billion at the intraday trough. Nvidia’s defense deployed compelling data. Free cash flow conversion at 98 percent of GAAP net income since 2018. Days sales outstanding at 53 days. Strategic investments totaling $4.7 billion year-to-date, representing less than one percent of revenue. I acknowledge these points. The cash is real. The legal structure does not replicate Enron. But the memo answered the wrong question. The concern was never accounting fraud. It was structural dependency on capital flows that require AI demand projections to materialize at rates that remain economically unvalidated. Burry clarified this precisely: “I am not claiming Nvidia is Enron. It is clearly Cisco.” Cisco did not commit fraud. Cisco sold real equipment to real customers building real networks. Those customers simply built capacity for demand that never arrived. The stock fell 89 percent. Burry is now liquidating Scion Asset Management. His bearish position against AI infrastructure is his final public statement as a fund manager. The Meta-Google TPU negotiation proves the CUDA moat is crossable. The question is not whether Nvidia committed fraud. The question is whether 44 times trailing earnings prices the scenario where AI demand disappoints by even twenty percent while facing genuine competition for the first time. November 25 did not answer that question. It began asking it.​​​​​​​​​​​​​​​​ Read the full deep dive article here - open.substack.com/pub/shanak…

THIS IS A CALL TO ACTION: BOYCOTT JPMORGAN. JPMorgan under-reported Jeffrey Epstein-linked suspicious transactions prior to 2019. The bank maintained a client relationship with Epstein (a convicted sexual offender) well after criminal proceedings. The failure to act has been publicly linked to potential enabling of Epstein’s sex-trafficking operation. Senate Finance Committee: "It’s impossible to believe the decisions that led to this disaster never reached the very top of the executive suite." “Given the scale of Epstein’s trafficking operation, it’s clear that many more powerful people were involved. My staff have seen a paper trail with their own eyes. Banks that helped enable him should be investigated. As should anybody involved in Epstein’s trafficking ring.” - @RonWyden #BOYCOTTJPMORGAN.