VOL. I · NO. 1
Artificial: Intelligence and Jobs Not Included
Issue One
Artificial: Intelligence and Jobs Not Included
The Fifth Economy thesis begins. What AI displacement looks like in its early innings.
VOL. I · NO. 2
Artificial: The Bill Comes Due
Issue Two
Artificial: The Bill Comes Due
The K-shaped economy and what happens when the consumer base it depends on can no longer carry it.
VOL. I · NO. 3
This Is The S&P
Issue Three
This Is The S&P
CAPE ratio, concentration risk, and what "diversified" actually means when twenty names run the index.
VOL. I · NO. 4
Phantoms of The Bureau
Issue Four
Phantoms of The Bureau
The measurement problem. Birth-death models, revised CPI methodology, and the data behind the data.
VOL. I · NO. 5
America Is Not a Real Place
Issue Five · Mid-Month Dispatch
America Is Not a Real Place
$21T in market cap since the April 9 pivot. 3,600 presidential trades. The U.S. FICO score. The Fed's own admission.
VOL. I · NO. 6
Frankenstein Was the Name of the Doctor
Issue Six
Frankenstein Was the Name of the Doctor
From 1619 to the K-shaped economy: how shareholders-over-stakeholders, deindustrialization, and a shrinking worker base built the monster America keeps mistaking for someone else's creation.
VOL. I · NO. 7
The Monsters Are Due on Wall Street
Issue Seven
The Monsters Are Due on Wall Street
A war disrupting a fifth of the world's oil supply, a market near record valuations, and a generation quietly priced out of the promise meant to sustain it.
VOL. I · NO. 8
To Serve Man
Issue Eight
To Serve Man
A jobs number quietly revised, a deficit financed by the Fed's own balance sheet, a war financing itself through Treasury sales, legislation timed to bill its costs after the vote, and a generation paying for groceries on credit — six threads on who's really being served.
VOL. I · NO. 9
The Fifth Economy
Issue Nine
The Fifth Economy
Passive income and a K-shaped fork: Social Security's math, a graduate degree that grows debt instead of retiring it, a global bond selloff arriving in real time, and the arithmetic of becoming a shareholder instead of a stakeholder.
VOL. II · NO. 9
Program Terminated
Vol. II · Issue Nine
Program Terminated
A roughly $459,000 four-year degree, recent-grad unemployment at 5.7% against 4.2% overall, and entry-level hiring down about 80% a quarter at AI-adopting firms: what happens when the programs a generation was told to run stop executing.
VOL. II · NO. 10
The Imperfect Storm
Vol. II · Issue Ten
The Imperfect Storm
A mortgage-bond directive, half-empty planes at full fares, a strained farm sector, a Fed that hiked while the market says it is not done, and dinner on buy-now-pay-later. The clouds are visible.
Tools
Tools
A couple of practical calculators, separate from the newsletter archive.
My Travel Cheat Sheet
Concepts for saving on frequent travel using rewards cards.
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Rent vs Buy: 20-Year Reality Check
A long-horizon look at the real math behind renting versus buying.
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Quarterly Stock Screener
This quarter's linear regression screen results, with the full workbook available to download.
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Build Your Economic Floor
Model the passive-income floor from a lump sum, contributions, and a target retirement age — the Fifth Economy's "own something" thesis, made interactive.
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