Donald Trump is about to unleash an evolution in quantum energy production. How? By following the path set by Richard Nixon when he was President over 50 years ago.
It’s Still Early Days for Gold
September 17, 2025 • Addison Wiggin
With gold prices continuing to push higher – and with central bankers buying hand over fist – gold miners should continue to see expanding profits.
That’s in sharp contrast to the rest of the market, where any potential slowdown in AI could cause a break lower.
The Fed, bending to political winds, is likely to join its global counterparts in cutting interest rates today. There’s more yet to the story for gold and the gold miners – as we forecast a year ago.
Dave Hebert: How Long Could That $1.8 Billion Powerball Jackpot Fund the Government?
September 16, 2025 • Addison Wiggin
Our fiscal reality is clearly unsustainable. With the passage of the “Big Beautiful” budget reconciliation bill, Congress has already given itself permission to grow the national debt to $41 trillion. Interest payments on the national debt are already the second-most-expensive item on the federal budget, behind only Social Security (and ahead of defense spending). As the national debt continues to grow, debt service will become our number one spending obligation. History suggests it’s only a matter of time until we hit that limit and, unless things change, once again raise the debt ceiling. This cannot continue indefinitely.
When Trust Runs Thin, Markets… Rally?
September 16, 2025 • Addison Wiggin
Bloomberg’s September survey of economists found that the majority are “somewhat or extremely worried” that the Fed’s decisions will be influenced by political loyalties.
If that happens, borrowing costs for the U.S. government rise as risk premia creep into Treasury markets.
Public confidence is already threadbare.
In 2001, 74% of Americans trusted Alan Greenspan to do the right thing. In 2025, only 37% say the same of Jerome Powell. For the first time, trust in Trump to manage the economy is higher than trust in the Fed chair.
The Tech Meltup, Exhibit A
September 16, 2025 • Addison Wiggin
Overall, the S&P 500’s RSI hit 70, the low side of overbought territory — for the entire index.
“Fed rate cuts tomorrow are likely priced in,” writes portfolio director, Andrew Packer, “it may not trigger a selloff, but at these levels, investors may be disappointed with a .25 cut.”
Tech investors will remain bullish on the prospect of multiple rate cuts over the next few meetings.
But be wary of any indication the Fed tries to rebuff Trump’s overtures and, God forbid, remain independent tomorrow.
