Where the ads take aim and lay their claim, [To the heart and the soul of the spender](https://genius.com/7919679/Jackson-browne-the-pretender/Where-the-ads-take-aim-and-lay-their-claim-to-the-heart-and-the-soul-of-the-spender) And believe in whatever may lie In those things that money can buy

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Where the ads take aim?

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I wish more people understood the way Elons mind and vision and goals were built. I don’t think he thinks too highly of himself let alone to think he is God. Do you understand that doesn’t stop him from trying to change the human limit of how a mortal can bend the powers of God? When I was a kid before road trips my mom had us pray for safe travels. Today Elon and team provide safe travels. Watching the man speak when could not before through neuralink. Our founding fathers believe some rights are God given, freedom of speech is something has does his best to give (at great personal expense). More people should aim higher themselves vs aiming their bows higher at him. Follow him, don’t tear him down. Be better than him if you can.

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Core inflation is 2.5%, CPI inflation is 3.4%. But core doesn't remove secondary effects of fuel prices (eg clothes go up because shipping went up because oil went up), so it seems that core is overstated, if its aim is to remove transient fuel costs. It seems one could argue that core inflation is right where the Fed wants it. To digress... The bigger question is why 10+ year rates are going up. They reflect a belief either in 1) high future inflation; 2) high future real rates. The fact that 20 year TIPS are paying 2.3% or so below regular bonds suggests that future inflation is believed to be modest, so there's a belief out there that real long term rates will be high. Or government borrowing is flooding the market, or borrowing for the AI buildup is combining with government borrowing. I just looked up AI borrowing, and AI will borrow $190B in 2026, and $200-400B for 2027, at a typical 14 year maturity. The government sells about $1.1T of 10+ year bonds a year, so the AI buildup is a big chunk of that. But wait ... it seems that net *new* 10+ year government debt is only $150 to 300B. Net outstanding mortgages, another pool of long term of debt, grew by $400B. tl;dr - AI is a huge chunk of new outstanding long term debt, and it seems to be squeezing everyone else hard, including housing.

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