U.S. debt has passed $40 trillion, Treasury yields are near multi year highs, and foreign demand is showing signs of weakening.
M2 is already growing 5.4% year over year. That matters a lot more to me than another argument over whether this month’s inflation came from oil, tariffs or wages.
The only thing that has ever caused inflation just turned higher again.
M2 money supply is growing close to 5% a year, the fastest since 2022, and sits at a record above $22 trillion. In 2023 it shrank for the first time in decades, and that is exactly when goods inflation… pic.twitter.com/JazzkuJ62y
— Kurt S. Altrichter, CRPS® (@kurtsaltrichter) September 4, 2026
Manager of Norway’s $2tn oil fund proposes slashing US Treasury holdings https://t.co/juvKk6gKer
— Financial Times (@FT) September 4, 2026
Bessent wants Japan to hike rates to fight inflation… But Japan can't.
– BoJ policy rate: 1%
– CPI inflation: 1.9%And even that 1.9% is being suppressed by government energy subsidies…
For comparison, inflation averaged 3.2% in 2025.
To seriously fight 2025-level… pic.twitter.com/x43k2xfxeD
— Lukas Ekwueme (@ekwufinance) September 3, 2026
The world's reserve currency has lost about 9% of its value this year.
The dollar index is down roughly 9% from its January peak, near a 2-year low. Every dollar in your account now buys less of every hard asset on earth.
This is the flip side of a Fed cutting rates and… pic.twitter.com/4gtapnRkse
— Kurt S. Altrichter, CRPS® (@kurtsaltrichter) September 5, 2026
The bond market spent this week betting on a hike. The 2-year yield, Wall Street's cleanest read on Fed policy, pushed to 4.4%, its highest since January 2025. Then Fed Governor Waller said he is willing to hold rates steady, and the yield fell 7 basis points in minutes. The… pic.twitter.com/BW4DSkPQ47
— Kurt S. Altrichter, CRPS® (@kurtsaltrichter) September 3, 2026
BREAKING: Short interest in the median S&P 500 stock is up to 3.2% of market cap, the highest level since 2009.
This is now approaching the 2008 Financial Crisis peak of ~3.8%.
By comparison, during the 2022 bear market, this percentage was ~1.7%.
Furthermore, short interest… pic.twitter.com/TZwyGMWzuS
— The Kobeissi Letter (@KobeissiLetter) September 2, 2026
U.S. national debt crosses $40 trillion
The debt crossed $40 trillion only 19 months into Trump’s second term, while higher Treasury yields are making that debt increasingly expensive to service.
Global bond selloff pushes borrowing costs to multi decade highs
Government bond yields across major economies are rising because investors are demanding more compensation for inflation and enormous government borrowing.
Norway’s $2.3 trillion sovereign fund proposes cutting Treasury exposure