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Ripple Effect

Oh. Canada

Loading ...Addison Wiggin

February 23, 2026 • 1 minute, 31 second read


CanadaPurchasing Power Parity

Oh. Canada

Both the women’s and men’s Olympic hockey teams won gold over the weekend. Both beat archrivals Canada in the final game.

Not to pile on, but we uncovered this surprising stat over the weekend, too.

If, by some twist of historic fate, Canada were to be eligible to join the U.S. as its 51st state, the Donald might want to reconsider.

Despite its overly-educated 40-million-plus population, on a GDP per capita, basis Canada is nul. Collectively, the Great White North would rank as America’s second-lowest state, coming in above Mississippi, but below Alabama:

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The average Canadian has a lower purchasing power than the average citizen of Alabama.
(Source: @charliesmirkley via X)

On this basis, the annexation of Canada would be the economic echo of Germany’s post-Cold War reunification; a wealthy consumer economy sucking up a resource-rich, ideologically governed plot of land. Nearly 90% of Canadians live within 100 miles of the United States.

Setting aside the politics, if you’re a trader, there are plenty of unloved resource opportunities within Canada’s borders. We’re fans of the resource space, particularly for properties in North America. As you’re likely aware, many are included in our special reports.

Short-term opportunities – like USAS, UUUU, and the high-yielding natural gas company (NOG) that Andrew just closed out for 61.36% this morning – are available in the Grey Swan Trading Fraternity.

~ Addison

P.S. Last week on Grey Swan Live! Welcomed back Matt Milner, of Private Market Profits, gave us a tour of – and a strategy for – investing in the massive private capital markets usually reserved for well-connected investors: the pre-IPO space – an area where America continues to hone its GDP edge.

Elon Musk’s SpaceX and Palmer Luckey’s Anduril have grabbed headlines this year as their unicorn giants approach their very public launch into the AI stock market.

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Matt Milner: SpaceX + xAI: What It Means for You

February 20, 2026 • Addison Wiggin

SpaceX is the most valuable private startup in history — and if its success continues, it might become the most valuable public company in history.

After all, as Musk famously said in 2023, “I have never lost money for those who invest in me and I am not starting now.”

For investors, SpaceX has been a wild, joyful ride — and now the journey continues!

Matt Milner: SpaceX + xAI: What It Means for You
Tariff “Plan B”

February 20, 2026 • Addison Wiggin

The Supreme Court voted 6–3 to block President Trump’s use of the International Emergency Economic Powers Act to impose his “Liberation Day” tariffs.

Chief Justice John Roberts wrote that the Constitution grants tariff authority to Congress alone. Justices Thomas, Alito, and Kavanaugh dissented.

The case centered on Trump’s 10% global tariff and the higher reciprocal tariffs layered on select trading partners. Oral arguments were heard in November. The Court concluded that IEEPA did not authorize such broad tariff power.

A concurrent research paper from the New York Fed concluded that American consumers bear most of the tariff cost.

Tariff “Plan B”
A Lone Insider Joins the Crowd

February 20, 2026 • Addison Wiggin

Early February brought a sharp sell-off in SaaS and AI infrastructure names. Some high-growth software stocks fell as much as 80% from prior peaks.

Retail investors, duly trained by Wall Street’s sell-side, stepped in “buy the dip” in “software as a service” (SaaS).

A Lone Insider Joins the Crowd
The Great Rotation Is Already Underway

February 19, 2026 • Addison Wiggin

According to Global Markets Investor, U.S. dominance peaked in late 2024. The relative line has trended downward for fifteen months. Leadership has dispersed. Even though we’ve been writing about the alarming, historic, high concentration in the Mag 7 at the very top of the indexes, large amounts of capital moved before the financial media headlines caught up.

The Great Rotation Is Already Underway