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Ripple Effect

The Big, Beautiful Deficit Is On Track

Loading ...Addison Wiggin

May 22, 2025 • 48 second read


debtdeficit

The Big, Beautiful Deficit Is On Track

The GOP’s “Big, Beautiful,” tax bill passed with a single-vote majority in the House. It now goes to the Senate, and, presumably, the President’s desk.

The bill, once law, will add about $5 trillion to the national debt, taking us over $40 trillion – and dangerously close to a 130% debt-to-GDP ratio.

How did we get here?

Turn Your Images On

It’s pretty simple how we got here: One vote at a time. While Congress has never won a popularity contest, in each district, your member of Congress has.

And over time, voters, many of whom end up paying no net taxes, get to weigh in on the government’s spending priorities.

The fact that the GOP couldn’t even codify the tens of billions in potential savings from DOGE, and had to increase the state and local tax (SALT) carveout, is a sign that the can is getting kicked down the road, even if that road ends with the country going over a cliff.

~ Addison


“Dispersion Rising”

January 16, 2026 • Addison Wiggin

Economists at Goldman Sachs said this morning they expect core inflation to finish the year around 2% even while GDP rises at a “surprisingly strong” 2.5% clip.

In our view, their inflation forecast is optimistic. Their GDP call? Modest.

The last time we pumped this much liquidity into the system — 2020 through 2022—the result was a manic asset bubble, runaway inflation, and an epic hangover at the Fed.

Goldman’s optimism has triggered a fresh round of bullish bets: cyclical stocks are rallying, “dispersion” in the S&P 500 is spiking, and the Fed is expected to cut interest rates twice before Jerome Powell gets kicked out of Washington at the end of his term on May 15.

“Dispersion Rising”
The Boom Behind the Data

January 16, 2026 • Addison Wiggin

Anecdotally, we’re hearing stories of warehouses full of GPUs sitting unused for lack of energy to power them. It’s a natural feature of the heavy capital investment in new machines. The grid has to catch up!

While Trump’s great reset rolls on in 2026, keep an eye on modular nuclear reactors and increased demand for uranium, natural gas and related resources.

The Boom Behind the Data
The Economics of Precious Metals Stocks Today

January 15, 2026 • Shad Marquitz

These PM producers are literally printing the most ‘hard money’ that they ever have at these metals prices and record margins here at the midway point in Q4.

If there ever was a time for this sector to get overheated and frothy, this would be it… only that isn’t what we’ve seen playing out.

PM producers are still insanely profitable at even at current metals prices and should be far more valuable based on their margins, revenue generating potential, and their resources still in the ground.

The Economics of Precious Metals Stocks Today
The Passing Parade and the Price of Admission

January 15, 2026 • Addison Wiggin

Who stipulated that politics and money have to be serious?

We do, in fact, write about money, the economy and financial markets. It’s to our own peril if we ignore the “passing parade” and its impact on them.

Populism as practiced by President Trump and the MAGA crowd is equally as pernicious, in our view, as the open worship of collectivism as expressed by Mamdani, AOC, and the progressive snollygosters gaining momentum among younger voters.

The system, as it were, is broken in all kinds of interesting ways. But we still have to live in it. And make decisions about our lives… our money… our families and our future.

The Passing Parade and the Price of Admission