Patrick Boyle On Finance

Scott Bessent Is at War With Prices — and Prices Are Winning!

Treasury Secretary Scott Bessent is trying to force down US Treasury yields with surprise bond buybacks — and it isn't working. In this video we break down Bessent's acti

How Much Would an AI Crash Destroy?

Two chip stocks recently drove seventeen percent of the entire global stock market's return in a single month — which tells you just how concentrated the AI trade has bec

The Hidden Risk in the US-Japan Yen Rescue

In July 2026, the US Treasury did something it hadn't done since 1998: it intervened in the currency markets to prop up the Japanese yen — and Treasury Secretary Scott Be

Does Leopold Have Situational Awareness?

Last week, 24-year-old Leopold Aschenbrenner — former FTX staffer, ex-OpenAI researcher, and author of the viral 165-page essay "Situational Awareness" — managed to lose

Big Tech's Hidden Debt Problem

Nikkei Asia recently reported that the five biggest US tech companies are carrying an estimated $1.65 trillion in "hidden," off-balance-sheet debt — and a lot of commenta

Where is Venezuela’s oil money?

When the United States took control of Venezuela's oil exports in early 2026, it collected an estimated $13 billion in crude sales — but the official ledger in Caracas re

The World's Best Stock Market Is Also Crashing!

South Korea has the best performing stock market in the world for the second year running — and it's also in the middle of one of the worst bear markets on earth. The KOS

Is Russia Actually Losing?

Russia's war economy is running out of road. Ukrainian drone strikes have knocked out roughly a third of Russia's oil refining capacity, forcing an energy superpower to r

The Real Reason European Cars Can't Compete

Europe's automotive industry is facing a historic crisis as Volkswagen weighs unprecedented factory closures and massive job cuts. However, the root of the problem isn't

Brexit, 10 Years On: What It Actually Cost Britain

Ten years on from the 2016 Brexit referendum, the UK is about to appoint its seventh Prime Minister in a decade — so was Brexit worth it? In this video we break down the

How to Lose a Global AI Monopoly in One Afternoon

Last week, shortly after Anthropic launched its most powerful AI models, the U.S. government imposed export controls restricting foreign nationals from accessing them - a

What SpaceX, Anthropic and OpenAI’s IPOs mean for investors

Yesterday SpaceX became the largest company ever to go public, in an IPO that values Elon Musk's rocket-and-AI conglomerate at $1.78 trillion. But SpaceX is just the firs

When a Housing Boom Turns to Bust

A three-bedroom "dunger" in New Zealand with peeling paint and boarded-up windows sold for 1.81 million dollars at the peak of the boom. A few years later, prices had fal

This Is Probably Fine!

US 30-year Treasury yields just hit 5.2% — the highest level since July 2007. UK gilt yields are at levels not seen since 1998. Japanese bond yields are at record highs.

The Most Unprofitable IPO in Wall Street History

This week, SpaceX filed the prospectus for what is expected to be the largest IPO in history. The document is extraordinary — part financial disclosure, part science fict

What Trump's China Visit Actually Achieved.

As Donald Trump and Xi Jinping wrap up their summit in Beijing with little more to show for it than a few awkward handshakes, the media is left wondering where the big br

The Dumbest Takeover Bid

GameStop — the meme stock famous for selling physical video game discs to people who no longer buy physical video game discs — has made an unsolicited 56 billion dollar o

The Unanchored Central Banker: Manoj Pradhan on Inflation, Demographics, and Why AI Won't Save Us

Today, Manoj Pradhan of Talking Heads macro and Fundamenta capital returns to the show to discuss his new book, co-authored with Charles Goodhart, which serves as a highl

Is Inflation About to Get Much Worse?

U.S. consumer sentiment has fallen to a 74-year low. Brent crude is above $125 a barrel. And several highly credible economists had been warning that inflation was coming

Energy Markets are on the Verge of a Disaster

The stock market just hit a record high. Meanwhile, captains in the Persian Gulf are turning off their transponders and sneaking through the Strait of Hormuz in the dead