Three Crises Are About to Collide Into One Giant Crash

The gist

1. Foreign central banks have stopped buying U.S. debt and moved to gold, so Bilyeu says the Fed may need to print $2 trillion a year, risking hyperinflation.
2. Japan raising rates toward 2% is closing a 5-point spread that funded cheap global capital, which could drain money from growth stocks and AI investments.
3. Bilyeu says AI follows a historical pattern where early investors lose money before value emerges 10 to 20 years later, and current revenue shortfalls suggest that painful phase is starting.
4. He warns against government picking industrial winners, like subsidizing specific chip companies, because it tends to create zombie companies that crowd out healthier ones.