For the past few years, we’ve all heard that Bitcoin is just a high-beta proxy for the NASDAQ. It seemed to make sense, but what does the data say? We look at whether Bitcoin and gold are really uncorrelated assets. Investors have been complaining that the dollar is falling. DKI thinks that depends on your … Read more
Lots of Nvidia $NVDA news this week as the world’s best AI chipmaker takes a $5.5B charge due to export restrictions to China. The company has also begun production of their best chips on US soil and intends to get to half a trillion dollars of domestically-produced product in the next few years. Fed Chairman, … Read more
The big news of the week was President Trump delaying tariff implementation for 90 days, a possibility I outlined for DKI subscribers the previous Sunday. Tariffs remain in place for China which responded with public insults and by increasing their own tariffs. They threatened to watch fewer Hollywood films, something I expect is of zero … Read more
The big news of the week was President Trump announcing tariffs in excess of what the market expected. Equity indexes immediately fell and continued that trend for the following two days. While most of the commentary was negative, I’m not convinced the approved consensus is correct. The short version is in this edition of the … Read more
In 2021, Chairman Powell and Secretary Yellen said inflation was transitory. In 2023, political commentator and MMT enthusiast, Paul Krugman, said we had defeated inflation. In 2025, the PCE (the preferred inflation metric of the Fed) has made no real progress in the past year and the Core PCE is rising again. Retail investors are … Read more
DKI has been warning about a weak private sector for more than a year, but consumers kept spending down their savings and taking on more debt. Recent data indicates we might be reaching the end-point of that practice as debt peaks and sales are weak. The Federal Housing Administration appears to be paying the mortgages … Read more
There’s a weird conspiracy theory going around that the Trump Administration will re-value the gold in Fort Knox and restructure the dollar. DKI thinks this is unlikely, but we do see the value in going through the idea as a thought experiment. Dell nears a massive final contract with xAI giving us another data point … Read more
Many Americans are horrified at how our government is spending money. Candidate Trump ran for President promising to go through the budget line by line. Most Americans expected to find waste, but the amount of theft and fraud is staggering. We also found out that the “independent” press is being funded by massive “foreign aid” … Read more
President Trump and his team are energetically remaking both the Federal government and our trade relationships. The pace of change has been incredible, and depending on your political preferences, you’re either thrilled or appalled. As always, we’ll try to bring you a clear view on policy and leave the politics to others. As I write … Read more
This week’s news was dominated by two things. President Trump made financial news on central bank digital currencies (CBDCs) by banning them. DKI and liberty-minded readers cheered this! He also used tariffs to compel Colombian cooperation although the situation with Mexico and Canada is cloudy as of this writing. (That’s more troubling.) The Bank of … Read more
