Join Us at the 2023 World Economic Conference in Orlando, Florida!

? Dates: November 17, 18, and 19 ? Location: Orlando, Florida, USA (or tune in from home with our virtual ticket options)

Are you ready to unlock the future of economics and finance? Prepare for an unforgettable World Economic Conference experience in sunny Orlando, Florida! This premier event is your gateway to insights, networking, and valuable resources that will supercharge your understanding of the global economy.

?️ What’s Included for In-Person Attendees:

1. Event Admission: Enjoy reserved seating assigned based on the order of ticket sales, ensuring you have a prime view of every presentation.
2. Presentation Slides: Gain access to the presentation slides from all speakers, allowing you to delve deeper into the topics discussed.
3. Video Recording: Can’t make it to a session? No worries! You’ll receive access to video recordings of all conference presentations, so you can catch up at your convenience.
4. WEC Event App: Connect with the conference on a whole new level. Access presentation slides, bonus reports, recordings, and more via the official WEC Event App.
5. Bonus Conference Materials: Get a package of bonus conference-related materials, including exclusive bonus reports and videos (as provided by Martin Armstrong).
6. Morning Information Sessions: Don’t miss out on important morning information sessions, screened on-site in the meeting room on Saturday and Sunday.
7. Networking Opportunities: Exclusive access to the Event App Networking Feature allows you to connect with fellow attendees, both in-person and virtual, fostering valuable professional relationships.
8. Culinary Delights: Savor delicious breakfast and lunch on Saturday and Sunday, prepared to keep you energized throughout the day.
9. Cocktail Reception: Kick off the conference in style at our Friday evening cocktail reception. Meet and mingle with fellow attendees while enjoying refreshing drinks.
10. Swag Bag: As a token of our appreciation, each in-person attendee will receive a swag bag filled with goodies, including an Armstrong Economics notebook, pen, and an event collector’s mug!

Unable to travel? We also have two different ticket options for those wishing to attend virtually! 

Don’t miss this opportunity to be part of a global gathering of economic and financial minds. Secure your spot at the World Economic Conference in Orlando, Florida, and gain the knowledge, connections, and resources you need to thrive in the world of finance and economics.

Space is limited, so act now and reserve your seat! Visit our Events page to register and join us in sunny Orlando this November.

Now available at all major retailers!

The eBook will be available shortly.

The second edition of “The Plot to Seize Russia – The Untold History” is now available for purchase in paperback and hardcover on Amazon and Barnes and Noble. The ebook will be available shortly.

Book description:

“Take care of Russia,” Boris Yeltsin said as he departed his presidency in August 1999. These words were directed at current Russian president, Vladimir Putin. Yeltsin specifically picked Putin as his predecessor to prevent the takeover of Russia.

So, who was Yeltsin warning against? Newly declassified documents from the Clinton Administration prove that there was a plot to rig the Russian election of 2000. These never-before-seen documents confirm numerous attempts to implement pro-Western policies using the Russian oligarchy headed by Boris Berezovsky.

On the other side were the communists who desired a return to the glory days of the Soviet Union. As one of the largest international hedge fund managers, author Martin Armstrong found himself in the middle of perhaps the greatest espionage, or attempt at a regime change for Russia, in modern history.

The Plot to Seize Russia pulls back the curtain to expose the most extraordinary attempt to seize power in modern history, but with the pen rather than armies. These declassified documents reveal a plot that has altered our thinking about the relations between the United States and Russia. The thirst for power comes seething through every line of these papers that alter our perception of reality, change the course of history, and now threaten us with World War III.

Reports now estimate North Korea has earned roughly $14 billion through military cooperation tied to the war in Ukraine. That number is staggering when you realize North Korea’s entire GDP has been estimated at around $25 to $30 billion annually. This conflict may have generated revenue approaching half the size of the country’s entire economy.

People still cannot see what this war has become because they think North Korea entered Ukraine out of loyalty to Russia or some anti-Western alliance. That is childish analysis. North Korea entered this war because from Pyongyang’s perspective it would have been insane not to. While Washington believed sanctions would isolate Russia and cripple its partners, the exact opposite happened. The sanctions accelerated the formation of a wartime economic bloc stretching from Russia to Iran to North Korea. This is what governments never understand because they do not study history seriously.

North Korea was sitting on enormous Soviet-era ammunition stockpiles while NATO suddenly discovered its own industrial capacity was nowhere near prepared for a prolonged artillery war. Europe spent decades dismantling industrial infrastructure, outsourcing production, and obsessing over climate ideology while assuming major war on the continent was impossible. Then reality arrived.

But the real prize for North Korea is not merely money nor respect from power partners on the world stage. It is battlefield evolution. For decades, North Korea’s military doctrine remained trapped in Cold War thinking. Large infantry formations, rigid command structures, outdated artillery coordination, and Soviet-style battlefield tactics defined much of their strategic posture. Now, suddenly, North Korean units are being exposed directly to modern warfare against NATO-backed systems involving drones, electronic warfare, satellite surveillance, precision targeting, AI-assisted battlefield coordination, and real-time intelligence integration.

Reports already suggest North Korean forces initially suffered heavy losses because older assault tactics collided directly with modern battlefield realities. Then adaptation began appearing. Smaller formations, expanded drone deployment, improved artillery synchronization, faster communication systems, decentralized battlefield operations. Russia effectively trained North Korea’s military for modern warfare.

Meanwhile, the West keeps pretending this war is weakening its enemies when, in reality, it is training them. North Korea is now gaining direct exposure to Russian missile systems, drone technology, electronic warfare capabilities, loitering munitions, targeting systems, and battlefield intelligence it could never have developed this rapidly alone. Ukraine has effectively become a military laboratory where every major power is studying the future of warfare in real-time.

The battlefield laboratory has attracted all of the West’s adversaries. China is studying sanctions warfare and Western political fragmentation. Iran is studying drone integration and asymmetric escalation. Russia is adapting to NATO weapons systems. North Korea is observing modern battlefield coordination directly against Western-backed equipment. Even Europe is learning how catastrophically weak its own industrial base became after decades of globalization and political incompetence.

The political value inside North Korea matters as well because authoritarian systems require permanent confrontation to justify militarization. Kim Jong Un is already transforming dead North Korean soldiers into nationalist mythology through memorials and state propaganda. War creates purpose for regimes like this. It reinforces sacrifice, obedience, and state authority.

What should concern people most is that North Korean forces are now directly observing how Western systems actually function in combat. HIMARS deployment, NATO battlefield coordination, electronic warfare countermeasures, drone integration, satellite-guided artillery, all of it is being studied through live battlefield exposure rather than theoretical analysis.

North Korea did not enter this war because of friendship with Russia. Yes, the Hermit Kingdom programs its people to hate the West, but they did it for more than the love of the game. It entered because the conflict offered economic survival, military modernization, technological advancement, and direct exposure to modern warfare all at once. Nuke warfare may be enough to temporary ward off enemies, but did nothing to boost the economy. From Pyongyang’s perspective, this war is one of the greatest strategic opportunities the regime has encountered.

The United States has crossed a threshold that historically marked the beginning of sovereign debt crises for empires throughout history. According to newly released figures, U.S. debt held by the public has now surpassed 100% of GDP for the first time since World War II, reaching roughly 100.2% as public debt climbed above $31.27 trillion while GDP stood near $31.22 trillion. Total national debt is meanwhile rapidly approaching a remarkable $39 trillion.

The media continues comparing current debt levels to the period following World War II, but the comparison is fundamentally misleading because the conditions today are entirely different. After 1945, the United States emerged as the dominant industrial power globally while much of the world rebuilt from destruction. Economic growth surged, demographics expanded rapidly, productivity increased, and debt ratios naturally declined over time. Today, the opposite dynamic is unfolding.

The federal government now runs deficits even outside recessions or major global wars. Congressional Budget Office projections show deficits remaining near 6–7% of GDP annually for years ahead while debt held by the public climbs toward roughly 108% of GDP by 2030 and potentially 120% within the following decade. Interest payments alone are moving toward or beyond $1 trillion annually, already rivaling or exceeding military spending itself.

There are no true budgets for government. The people in power do not care about the economy beyond their term in office. If they cannot find a reason to justify a larger spending package, then they’ll simply go over the allotted amount, fail every audit, and face zero repercussions.

Governments increasingly borrow simply to service existing obligations while politicians refuse to cut spending meaningfully because the entire system became dependent on perpetual debt expansion. Military spending rises, entitlement obligations grow, infrastructure demands increase, and governments are now layering industrial policy, migration costs, AI subsidies, climate initiatives, and geopolitical competition directly onto already unsustainable fiscal structures.

This problem is not limited to the United States since the nature of politicians is identical. Global debt recently climbed toward $353 trillion according to the Institute of International Finance, reaching approximately 305% of global GDP. China, Europe, Japan, and the United States are all trapped inside debt structures that require continuous monetary intervention and refinancing simply to remain stable. Problem is they cannot roll over these debts forever.

That capital flow advantage is the only reason the system has not fractured more violently already. Foreign capital continues flowing into Treasury markets because investors still view the United States as the least unstable major market globally. Even Federal Reserve officials recently acknowledged that demand for U.S. government debt remains relatively strong despite exploding borrowing levels.

The crisis is emerging gradually through declining purchasing power, rising interest burdens, slower growth, weakening middle classes, political fragmentation, and falling confidence in institutions. The average citizen already feels the consequences directly even if they do not fully understand the mechanics underneath.

Inflation destroyed purchasing power over recent years. Housing affordability collapsed across large portions of the country. Insurance costs surged. Property taxes rose sharply. Food, healthcare, utilities, and debt servicing all became materially more expensive. Younger generations increasingly feel locked out of long-term financial stability despite working harder than previous generations.

That is what sovereign debt deterioration looks like in practice. Governments now face an impossible trap. If interest rates remain elevated, debt servicing costs continue exploding higher while households, banks, and commercial real estate weaken further. If central banks suppress rates aggressively again, currencies weaken and inflation accelerates. Either path gradually undermines confidence and the massive debt rollover will eventually hit a wall.

This is why governments worldwide are simultaneously discussing CBDCs, unrealized gains taxes, wealth taxes, digital IDs, banking surveillance systems, and expanded financial reporting requirements. Yet they can NEVER tax the people enough to cover even a portion of these debts. Sovereign debt crises always push governments toward tighter control over capital because states cannot tolerate unrestricted wealth movement once fiscal conditions deteriorate severely enough. People often ask me when the soverign debt crisis will begin, but we have already reached that point. The system will continue to collapse until 2032 when we have the opportunity to perhaps get it right.

For years, many people dismissed artificial intelligence as little more than a threat to jobs or another speculative technology bubble. Yet beneath the political noise and media hysteria, one of the most important medical revolutions in modern history is quietly beginning to emerge. Artificial intelligence is now helping doctors detect diseases earlier, develop drugs faster, personalize treatments, and potentially save millions of lives that otherwise would have been lost under traditional medical systems.

One of the most important breakthroughs this year came from researchers at the Mayo Clinic, where a new AI system demonstrated the ability to detect pancreatic cancer up to three years earlier than doctors typically can using conventional scans. Pancreatic cancer remains one of the deadliest forms of cancer because symptoms often appear only after the disease has already advanced. The five-year survival rate in the United States remains near just 12% to 13%. The new AI model identified subtle structural abnormalities invisible to the human eye and successfully detected early-stage warning signs in roughly 73% of patients long before formal diagnosis occurred.

That is the critical point many people fail to understand about AI in medicine. The technology is not simply “thinking faster” than humans. It can analyze patterns across millions of data points that no physician could reasonably process alone. In imaging systems such as CT scans, MRIs, and X-rays, AI can detect microscopic irregularities years before symptoms emerge. Early detection changes everything because most cancers become dramatically more survivable when caught early enough. The AI hysteria skips out on the benefits the technology will bring to humanity.

We are also seeing AI dramatically accelerate drug discovery itself. Traditionally, developing a new drug could take 10 to 15 years and billions of dollars in research costs. AI systems are now capable of simulating molecular interactions, identifying promising compounds, and narrowing viable candidates in months rather than years. Researchers at St. Jude Children’s Research Hospital recently used AI-assisted genetic analysis to identify new cancer drug targets with lower risk of side effects, which could eventually improve treatments for multiple solid tumors.

Cancer treatment itself is also becoming increasingly personalized because of artificial intelligence. Instead of giving every patient identical therapies, AI systems can analyze genetic profiles, tumor mutations, immune responses, and patient histories to tailor treatments to the individual. Personalized cancer vaccines using mRNA technology are now advancing rapidly through clinical trials, particularly in melanoma and kidney cancer research.

Another major shift is taking place in robotic and AI-assisted surgery. Advanced robotic systems are beginning to combine real-time AI guidance with 3D anatomical modeling, allowing surgeons to operate with greater precision and fewer complications. Medical technology firms now openly discuss a future where surgeons may have instant access to dynamic “digital twins” of organs during operations, reducing risk and improving outcomes.

The aging Boomer population may ultimately benefit the most from these breakthroughs. AI-powered monitoring systems are already being developed that can predict cognitive decline, dementia progression, heart attacks, and fall risks before symptoms fully appear. Researchers reported that speech-analysis AI systems are now predicting Alzheimer’s progression with accuracy levels exceeding 78% in some studies.

Healthcare itself generates enormous amounts of data that humans alone struggle to fully interpret. Every scan, blood test, genetic sequence, pathology report, and patient history contains patterns. Determining how that data is collected in another topic.

What makes this so economically important is that healthier populations are more productive populations. Earlier diagnoses reduce long-term treatment costs, lower hospitalization burdens, and improve quality of life. The economic implications alone could reshape healthcare spending globally over the next decade. We have the ability to make computers work for us rather than against us. AI does not want to conquer the world as some sentient Terminator like monstronsity. The technology is there for our benefit if we know how to utilize it properly. There will be those who use AI to kill on the battlefield, and others will use it to save lives. Demonizing AI misses the mark. Technology simply helps human advancement and will be bent to accommodate human nature, which in itself could perhaps be demonized at times.

Beneath all the fear surrounding AI, there is another story unfolding. For the first time in modern history, medicine may be shifting from treating diseases after they emerge toward predicting and preventing them before they become fatal. That may ultimately become one of the most positive developments of this entire technological cycle.

Japan spent decades trying to convince the world that endless debt, money printing, and zero interest rates could continue indefinitely without consequences. Now ordinary Japanese citizens are beginning to feel the pressure directly as inflation rises, wages fail to keep pace, and living standards steadily deteriorate underneath the surface.

For the first time in generations, Japanese households are experiencing sustained cost-of-living stress while confidence in economic stability weakens sharply. Recent polling showed more than 80% of Japanese households now believe prices are rising faster than their incomes, while consumer confidence remains near recessionary levels despite years of government stimulus and intervention. Food inflation, utility costs, transportation expenses, and housing-related costs have all risen materially as the yen weakened dramatically against the dollar over recent years.

The psychological impact inside Japan is enormous because the country spent decades living through deflationary conditions where prices remained relatively stable. Japanese consumers became accustomed to stagnant prices and low borrowing costs. Once inflation finally arrived, the shock to household budgets was immediate.

Rice prices alone surged more than 20% year-over-year at one stage while basic food staples, imported goods, fuel, and electricity all moved sharply higher. Japan imports enormous quantities of energy and raw materials, which means yen weakness translates directly into higher consumer prices across much of the economy.

This is exactly what I warned would eventually happen once central banks lose control of sovereign debt cycles.

Japan now carries government debt exceeding 260% of GDP, the highest among major industrial economies. For years the Bank of Japan artificially suppressed interest rates and monetized government debt through massive bond purchases. The BOJ effectively became trapped because allowing rates to normalize aggressively would destabilize the government’s own financing structure.

Now Japan faces the consequences of that trap.

The yen weakened substantially because interest rate differentials between Japan and the United States widened dramatically after the Federal Reserve raised rates. That currency decline temporarily benefited exporters but crushed household purchasing power because imports became far more expensive. Ordinary Japanese families are now paying materially higher prices for necessities while real wage growth remains weak.

The younger generation feels this particularly hard. Many younger Japanese workers already struggled with stagnant wages, temporary employment contracts, and rising urban living costs before inflation accelerated. Now household budgets are increasingly consumed by food, transportation, rent, utilities, and taxes while long-term financial security becomes harder to achieve.

An aging population means fewer workers to support expanding pension obligations, healthcare systems, and government debt burdens simultaneously. The country increasingly depends on monetary intervention to stabilize the system financially, but monetary intervention itself weakens the currency and fuels imported inflation.

The media continues portraying Japan as stable because social order remains intact and unemployment is relatively low, but confidence underneath the surface is weakening steadily. Consumer spending has softened repeatedly because households are becoming more defensive financially. Savings rates are under pressure. Retailers continue raising prices gradually after decades of avoiding increases entirely.

This is why the ECM projected sovereign debt instability as the defining issue globally into this decade. Japan was always the leading example of what happens when governments attempt to indefinitely postpone economic reality through debt expansion and monetary manipulation.

Japan avoided the violent banking collapse seen elsewhere during previous crises, but the long-term consequence has been decades of economic stagnation slowly eroding national vitality underneath the surface. Inflation is now exposing those structural weaknesses directly to the population.

The Japanese people are feeling the economy weaken in real-time because daily life itself is becoming more expensive while financial security becomes harder to maintain. Once households begin losing confidence broadly in future living standards, the political and economic consequences eventually follow.

President Trump is recommending that chip manufacturers IMMEDIATELY move their manufacturing facilities to AMERICA. The conversations with Xi have confirmed how China will move to take over Taiwan. Chip manufacturing is essential for AI and technology in general. Taiwan is the world’s chip manufacturing center at the moment. That’s one of the main reasons China wants to take Taiwan, for it is also a geopolitical play.

Trump is saying that he would like to see everybody making chips in Taiwan come into America. He also expects that the USA will have 40% to 50% of the world chip business by the end of his term.

We saw May as a Directional Change and a Panic Cycle appears in July leading into August. Keep in mind that with the US tied up in Iran, I warned that this would be the time for a conflict over Taiwan. Macron visited China and told Xi they will NOT intervene with respect to Taiwan. The next major turning point in Taiwan is 2027.33.

From our staff on the ground, they have reported that Modi has gone through with what many were suspecting – a lockdown to save energy.  Modi has officially announced a partial lockdown asking people to work from home, commute as little as possible, and use less cooking oil too as India must save its FOREX reserves.

We will expect this to unfold in Europe eventually.

Singapore has become one of the clearest examples of what happens when global instability pushes capital toward safe and efficient financial hubs. While much of the developed world struggles with declining middle classes, inflation pressure, weak currencies, and deteriorating public confidence, Singapore is absorbing enormous inflows of wealth, businesses, financial firms, and highly skilled workers from across Asia and the West.

People inside the country can feel the difference directly. Singapore’s economy recently expanded roughly 4–5%, outperforming many advanced economies despite global instability. Private wealth inflows surged sharply over the past several years as high-net-worth individuals relocated assets, family offices, and businesses into the city-state. Singapore now hosts more than 2,000 family offices, up from only a few hundred several years ago, making it one of the fastest-growing wealth management centers in the world.

Money is pouring into the system from everywhere. Chinese capital seeking stability, Western investors avoiding political uncertainty, technology firms restructuring operations, and multinational corporations diversifying Asian headquarters have all contributed to the surge. Banking, finance, artificial intelligence, semiconductor industries, pharmaceuticals, logistics, and high-end services continue expanding rapidly throughout the country.

Unlike many Western governments, Singapore largely focused on maintaining competitiveness rather than overburdening productive sectors with excessive bureaucracy or energy self-destruction policies.

Changi Airport continues expanding aggressively as passenger traffic rebounds strongly. Luxury real estate prices surged as wealthy migrants relocate into the country. High-end retail sales remain elevated while restaurant, tourism, and financial sectors continue benefiting from rising international inflows. Singapore’s port remains one of the busiest on earth while the country continues strengthening its role as a global trade and shipping hub.

Ordinary Singaporeans are feeling this through stronger employment conditions, rising wages in high-skilled sectors, and long-term economic stability relative to much of the world.

Median household incomes continued rising while unemployment remained relatively low around 2%. Inflation pressures emerged after the pandemic, but they remained significantly more controlled than in Britain, Canada, or large parts of Europe. The Singapore dollar also remained comparatively stable while many global currencies weakened sharply.

In much of the developed world, populations increasingly feel governments lost control over inflation, migration, debt expansion, and living costs. Singapore projects the opposite image, order, efficiency, infrastructure investment, and financial discipline.

The government also aggressively positioned Singapore as a center for technology and AI investment. Semiconductor manufacturing, digital banking, biotech, and advanced logistics industries continue attracting billions in investment. Nvidia, Google, Microsoft, Amazon, and major global financial institutions all continue expanding operations throughout the region.

Singapore benefits enormously from its geographic position as well. It sits directly at the center of Asian trade routes while remaining politically stable compared to rising tensions elsewhere in the region. As geopolitical fragmentation accelerates between the United States and China, companies increasingly want neutral and reliable regional hubs.

The city-state also avoided many of the structural mistakes visible across the West. Europe weakened industrial competitiveness through energy costs and overregulation. Canada and Britain inflated housing and debt bubbles while middle-class purchasing power deteriorated. Singapore maintained a long-term focus on attracting investment, developing infrastructure, controlling corruption, and preserving financial credibility.

None of this means life is perfect there. Housing costs remain extremely high. Competition is intense. Cost-of-living pressure still affects lower-income workers. The country depends heavily on global trade flows, meaning a severe international slowdown would still impact growth materially.

But relative to much of the developed world, Singaporeans increasingly feel they are living inside one of the few functioning economic systems left. The broader global pattern is becoming clear. Capital is abandoning politically unstable, debt-saturated, and overregulated regions while concentrating into efficient financial and commercial hubs capable of preserving stability and opportunity. Singapore has become one of the largest beneficiaries of that shift.

PRIVATE BLOG – The Update on Markets & Risk of Miscalculation

Private blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com.

https://ask-socrates.com/

COMMENT: Mr. Armstrong, I retired from Wall Street and from your favorite competitor. You earned the nickname “the legend” because you were the greatest of all traders. We always watched your plays. You would roll the dice, and you did inspire fear in everyone’s eyes. Many could not believe you had a computer that was that good. The word was always that you had more contacts than anyone else and were infallible. I just wanted to say you paid the price for your discovery, and as a subscriber to Socrates, your computer is light-years ahead of anyone else’s.

I was there as a young trader when you took on all the firms and systematically took down all the silver traders including Warren Buffett. That trade would have made a movie like the Big Short look as child’s play. You should hold a conference on how to trade. I would attend even being retired.

K

ANSWER: Yes, that trade I will always remember. The guys on the floor warned what was going on and that I would be taking on everyone. It was a lot of fun. I used Emerald Trading on the floor. That trade was legendary. They signed those bills when it was all done.

I will tell you a secret. I know what you mean when I rolled the dice I could see the fear in their eyes. That was the fun of trading in the old days. I shorted that market, took them all out, covered all my shorts, and actually went long. It was clear they assumed I was still covering shorts. I told the boys on the floor then to get aggressive in bidding to show them I was now long. I heard them scream on the floor, “He’s F–king long!” They then scrambled buying everything they could taking the market up. It was such a fun time. Forget the money. It was taking on all the bankers and watching them panic. As you said, the fear in their eyes.

Those were the good old days. I did my charts by hand. I framed this chart up to remind me of the good old days. But everything has changed. The ticks are just flashes on a screen now. I’m not sure if I could have learned how to trade in today’s world. I could see every tick, the quantity, and the sound.

I was probably the last to have a paper tape. I remember TransLux coming in saying they had to take it. With a paper tape, you never missed anything. The sound would sound like a machine gun when something happened. Otherwise it was slow tick, tick, tick.

I would plot tick by tick. That taught me patterns. Floor trading (also known as open outcry) for precious metals futures on the COMEX division of the CME Group technically still exists. However, it is no longer the primary method of trading. In practice, the vast majority of COMEX gold and silver futures trading has migrated to the CME Globex electronic trading platform.

Jesse Livermore’s legendary trading career began as a “board boy” in a Boston brokerage, where his job of posting prices on a large chalkboard led him to discover recurring patterns in stock movements. His early years perfectly demonstrate how systematic observation can lead to pattern recognition. At the age of 14, Livermore worked for Paine Webber, where he would listen for price quotes shouted out by the ticker boy and quickly write them on a large chalkboard covering the firm’s wall.

Jesse saw the patterns like I did from working with the data directly. On November 12th, 1923, Jesse turned bullish. Just like me, they attacked him because they did not like his forecast. The Wall Street Journal falsely accused Jesse Livermore of turning bullish on the market because he was friends with the president. The Journal accused him of trying to influence the presidential election. When the market broke out and rallied, all the other publications took swipes at the WSJ saying everyone reported Jesse’s comments “except” the WSJ. The press is always biased and interjects their views trying to influence markets.

John Law’s contribution saw supply and demand before his eyes as a trader and they said he was a gambler. Academic sources confirm that Law held a “demand-and-supply theory of value” and was one of the first economic writers to systematically use the concepts of demand and supply in his analysis. He applied this framework to money, introducing the term “the demand for money” and analyzing inflation within a supply-and-demand framework. His major work, Money and Trade Considered (1705), presented these revolutionary ideas well before they became common. Adam Smith took his example of water and diamonds and never credited him.

David Ricardo was a highly successful stock trader on the London Stock Exchange, and his practical experiences in the financial markets directly shaped his economic theories. Contemporary observers noted his “extraordinary quickness in perceiving the turns of the market” and his ability to spot “accidental difference which might arise between the relative price of different stocks.”  These skills directly parallel the quantitative trading strategies used by modern hedge funds.

There is a common thread that runs through us all – TRADING. There are some things that cannot be taught. You have a “feel” for something or you do not. Some can see a face in a cloud and other see just a cloud and think you are nuts. There is a HUGE difference between being s TRADER and an INVESTOR who buys and holds. A TRADER looks at a chart and sees instantly a bull or bear market. You are engrossed and taught by the patterns.

Ending floor trading may prove to be the end of real trading.

Me 1985 With an IBM XT

That is what I sought to code into Socrates. Above all, how to deal with pattern recognition.

For decades, society pushed the idea that success only came through a four-year university degree while skilled trades were treated as second-class careers. That entire model is now beginning to reverse in real-time. The economy simply cannot function without electricians, welders, plumbers, HVAC technicians, mechanics, linemen, machinists, and construction workers, yet governments and universities spent years encouraging younger generations away from those professions. What we are witnessing now is the economic consequence of that social engineering experiment.

The average age of skilled trades workers across many industries is now approaching the late-40s to early-50s. Retirements are accelerating while too few younger workers are entering the pipeline to replace them. According to estimates cited by JLL, as many as 2.1 million skilled trade positions in the United States could remain unfilled by 2030, creating potential economic losses approaching $1 trillion annually.

At the same time, demand is exploding because multiple infrastructure cycles are colliding all at once. AI data centers require enormous electrical capacity. Semiconductor factories need industrial construction workers and technicians. Power grids are being rebuilt. Manufacturing facilities are returning to North America. Renewable energy projects, pipelines, battery systems, transportation infrastructure, and industrial automation all require physical labor that cannot simply be replaced by artificial intelligence.

The result is that wages are now rising aggressively across the skilled trades. Electrician wages alone have climbed substantially over the past several years as labor shortages intensify. Recent labor data shows the median annual wage for electricians reached approximately $62,350 nationally, while the top 10% now earn over $106,000 annually.

In high-demand regions tied to AI infrastructure and energy expansion, compensation has surged even further. Some electricians and specialized technicians working on major AI data center projects are reportedly earning between $240,000 and $280,000 annually once overtime and premium project rates are included.

Construction workers tied to data center projects are now earning roughly 32% more than workers on traditional construction projects, averaging nearly $82,000 annually according to recent hiring platform data.

This is where the mainstream economic narrative completely failed. Governments assumed everything would become a digital service economy where everyone sat behind screens while production moved overseas. But once globalization fractured under sanctions, trade wars, and geopolitical instability, countries realized they could no longer rely entirely on foreign supply chains. Capital is now flowing back into domestic manufacturing, energy infrastructure, and industrial rebuilding.

The irony is that many skilled trades now pay better than white-collar office jobs requiring massive student debt. Experienced welders, industrial mechanics, elevator technicians, and plumbers are increasingly earning six-figure incomes while many university graduates struggle under student loans and face growing AI displacement risks in administrative office work.

Even major technology leaders are openly acknowledging this shift. NVIDIA CEO Jensen Huang recently stated that the AI boom will create enormous demand for electricians, plumbers, steel workers, network technicians, and construction workers because AI infrastructure requires “the largest infrastructure buildout in human history.”

Meanwhile, many white-collar entry-level jobs are becoming increasingly vulnerable to automation. Artificial intelligence may replace administrative work, but it cannot physically labor. Civilization itself still depends on physical infrastructure functioning properly. Past generations flocked to the classroom, wound up with debt, and now youth unemployment is through the roof. The economy needs blue-collar workers immediately. The labor shortage has become so severe that companies are now directly recruiting high school graduates into apprenticeship programs. Apprenticeship enrollment has risen sharply across many states after years of decline as younger workers begin realizing the trades may offer greater financial security than traditional university paths. Trump even came out and said that his administration would begin funding such programs to fill the gap.

The younger generation is starting to recognize this opportunity. A degree no longer equates to a solid financial future. Economic security may no longer come from chasing unstable corporate office jobs, but from acquiring practical skills tied directly to infrastructure, manufacturing, transportation, and energy. Those sectors cannot disappear because modern civilization depends entirely on them operating properly. I’ve noted the value of apprenticeships. Real-world experience is far more valuable than what one could learn in academia. Traders on the ground level know far more about the markets than someone who’s never had money on the line. It is something that absolutely cannot be taught in a classroom.

What we are witnessing may ultimately become one of the defining labor shifts of this decade. Capital is moving back toward tangible production. People capable of physically building and maintaining society are indispensable.