Darrell Delphen Macro

10/25/2026

When the Nord Stream pipelines were blown up, Germany lost its industrial competitiveness.

10/24/2026

10/19/2026

 We are in the biggest Cap X bubble in history. All of the prior Bubbles popped. Will this one pop? If so, the harder question is when will it pop? We will see. 

10/17/2026

AMERICA’S DEBT IS GROWING FASTER THAN THE ECONOMY THAT SUPPORTS IT!

Take a good look at this Federal Reserve chart.

Total debt has exploded while GDP has failed to keep pace. This trajectory is simply not sustainable indefinitely.

How do you service an ever-growing mountain of debt when economic growth cannot keep up?

In my opinion, the government will ultimately choose the path of least resistance: print more money, suppress interest rates, and inflate away the debt.

This is called financial repression, and the biggest losers will be savers and anyone holding assets that cannot keep pace with inflation.

10/16/2026

They have literally robbed us blind with fraud in DC while robbing our purchasing power. 😢

09/30/2026

INVESTING
Buy something the world needs or wants—and buy it cheap, usually when market conditions are unfavorable and most people don’t want it.

Then wait.

The longer you extend your time horizon, the easier investing becomes. Most of the world is focused on the next quarter, the next month, or even the next trade.

You’re not gambling. You don’t need a dopamine hit from constantly buying and selling.

Investing is often really boring.

Buy value. Be patient. Let time do the heavy lifting.

09/27/2026

The chart below is where we’re going.

Fiscal deficits
↓
More Treasury issuance
↓
Upward pressure on yields
↓
Higher government interest expense
↓
Even larger deficits
↓
More Treasury issuance
↓
Fed eventually pressured to intervene
↓
QE / YCC / negative real rates
↓
Currency purchasing-power erosion

So the ultimate issue isn’t necessarily that the U.S. literally cannot pay its dollar-denominated debt. Because the debt is denominated primarily in a currency the U.S. controls, the more interesting question is what happens to the purchasing power of the dollars in which bondholders are repaid.

09/18/2026

It,s getting close! Price movement could occur after the elections.