Mark Thornton examines Kevin Warsh’s first Fed meeting and argues that despite the tough rhetoric, nothing fundamental has changed. The Federal Reserve still exists to keep government borrowing cheap, protect banks and Wall Street, and manage appearances while real inflation erodes household purchasing power.
Mark explains why real interest rates are already low or negative, how Fed liquidity continues to fuel asset bubbles, and why AI, data centers, government debt, and stock-market leverage all point to late-stage business-cycle danger.
On Side B, Thornton joins Murray Sabrin to discuss the economy, the Skyscraper Curse, gold, commodities, and the practical habits that help people navigate a rigged monetary system.
A number of commodities & commodity producers are trading at extreme bargains right now assesses natural resource investor Rick Rule. Not only for the long-term value of the ore in the ground. But also for the dramatic efficiencies AI is bringing in getting the ore out of the ground much more cheaply.
Iran can call the 2026 war a political win. The regime survived, kept most of its enriched uranium, and held onto enough missiles to claim deterrence. This deck adds up what that “victory” actually cost. The bill: a decapitated leadership, a wrecked navy and air defense, the missile industry gutted, and roughly $270 billion in damage with a rebuild that could take 12 years. Politically they survived. Materially, they’re devastated.
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