Acid Breath 6 - The Knickerless Karate Kick

The ACID Capitalist Podcast

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Welcome to another episode of the Acid Capitalist, coming to you from the sun-drenched shores of St. Barts in the French Caribbean. This week, we’re diving headfirst into market mayhem, absurd tales, and the kind of insights you can only find here.
Palm trees. Santa Claus. Sleigh bells. An unlikely combination, yet somehow it works. St. Barts this time of year is pure energy: the priciest destination on the planet, unpredictable weather, and panicked yacht-dwellers caught in sudden downpours. It’s all a fitting metaphor for the markets, seemingly perfect, yet always poised for chaos.
Tesla’s doubled since the election. Bitcoin keeps grabbing headlines, and stocks were closing the year with a stunning 27% gain. It’s a world where expectations are sky-high, but danger lurks. I dive into the question: are we at the peak, or is there more room to run? And could Bitcoin really hit a million bucks? If you’ve been here since 2013, you know I’ve been calling this move for years.
An LA Tale: Karate Kicks and Markets
Sometimes, the markets behave like an LA socialite: confident, demanding, and completely unpredictable. I share a personal story from a glamorous night in West Hollywood. Picture this: a spoiled child, an audacious woman in a mini skirt, and a thigh-high karate kick that stopped just short of my chest. The parallels to the markets are uncanny: strutting in confidence one moment, delivering a shocking blow the next.
The Seduction of Now
The biggest trap in investing? Being consumed by the present. I explore the seductive mistress that is “now” and why it blinds us to the future. Looking back at my own missteps during 2008, I reflect on the importance of stepping back and imagining where markets might be 18 months down the line. Because the present? It’s rarely the full story.
A Tipping Point
China is wrestling with deflation and the consequences of years of aggressive policies. Their stock index is stuck at levels from two decades ago, and the yuan teeters on the brink of devaluation. Could this be the tipping point for a global economic reset? I explore what a weaker yuan might mean for global consumption, tariffs, and U.S. consumers. Spoiler: it’s not a rosy picture.
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Capitole

1. Palm trees. Santa Claus. Sleigh bells (00:00:00)

2. Tesla, Bitcoin, and the Trifecta of Triumph (00:03:29)

3. An LA Tale: Karate Kicks and Market Lessons (00:04:55)

4. The Seduction of “Now” (00:11:34)

5. China Killed the Macro (00:21:35)

6. China’s Crossroads: Deflation, Devaluation, and the End of an Era (00:24:38)

7. BHP: A Case Study in Market Drift (00:29:38)

8. A Call for Caution (00:31:50)

9. The Acid Breath (00:33:14)