Hello. The US government now pays over $3 billion of interest on its debt per day. Have a great Thursday.

gm nostrs California wildfires clouding the LV strip today.

For everyone who is getting fatigued with Bitcoin’s recent price action: Over the last decade, the average return in #Bitcoin for the top 10 days each year was 184%, and the average return (loss) for all of the remaining days each year was −10%. Patience eventually pays off, big time.

With this morning's JOLTs data showing that job openings are falling--well below estimates--and layoffs increasing, futures show a 47% chance of a 50bp rate cute in September, up from 37% yesterday. And bad news is once again 'good news' for the markets.

Welp. Nikkei 225 down 3.7% and the usd/yen headed lower. Looks like we’re about to see just how much of that Yen Carry Trade is still out there.

Good evening nostrs. Keep your eyes on the horizon.

The market is reacting negatively this morning to extremely poor ISM manufacturing data. Here’s the TLDR: Demand fell, inventories rose (due to unsold stock), and prices *rose* (due to labor and shipping costs). In essence, this is stagflation (higher prices in a stagnant or slowing economy). The Fed’s worst nightmare.

Good morning. Once the world realizes that you don’t need a PhD or math degree to understand #Bitcoin, that you just need to open your mind and critically think, it will soon right itself. Have a great Labor Day.

gm nostrs, enjoy your day of rest