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August 26, 2026 - Zach Abraham and Chase Taylor discuss why revolutionary technologies can still produce enormous investment bubbles—and why the unprecedented buildout surrounding artificial intelligence may eventually face the same problem. Chase explains why capital-spending booms throughout history tend to overshoot demand, while Zach examines Nvidia's increasingly complex web of investments and financing across the AI ecosystem. They discuss what could happen if today's extraordinary margins begin to compress and why enormous amounts of future supply could become a problem much faster than investors expect. Plus, Zach and Chase revisit Treasury's intervention in the bond market, Stanley Druckenmiller's warning, America's growing debt problem and why they believe the consequences of decades of deficit spending may finally be beginning to arrive.
