FZN Ronchero

Absolutely horrifying. Our hearts are with the victims, their families, and the entire Bend community today. How many more families have to live through this nightmare before something changes? Wake up, America. Our children deserve better than this.

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You don’t need a crystal ball to see what one party rule looks like — California already has the highest cost of living in America, imposed by Sacramento and career politicians like Becerra, not by “Trump.” We’re within 6 after the debate. Cut taxes, slash the red tape, $3 gas. 29 days. Wake up California — we can WIN this.

Well, they gonna save this, or they gonna finally gonna give us a rinse across the board?

Boris Yeltsin walked into a Houston Randall's grocery store in 1989 and went quiet. Not quiet in a polite, diplomatic way. Quiet in the way a man goes quiet when reality collapses on him. He saw 30,000 products on shelves. He saw ordinary Americans buying chicken, cheese, and fresh bread without a ration card, without a two-hour queue, without bribing anyone. A Soviet man of real power, surrounded by abundance that Soviet central planners had promised for seventy years and never delivered. He reportedly told his aide that if ordinary Soviet citizens saw this store, they would riot. Central planners destroyed the price system. Without prices, nobody could calculate where to send resources. Hayek proved this theoretically in 1945. The Soviets proved it empirically with empty shelves every single decade they existed. You grew up in that system, and you got potatoes when the state decided potatoes existed for you. You stood in line for meat that had already rotted. You traded favors to get medicine your doctor prescribed. Bureaucrats in Moscow set production quotas with no feedback mechanism, no profit signal, no way to know what you actually needed. Yeltsin left that Houston store and reportedly wept in the car. He later said it destroyed his belief in the Soviet system more than any dissident literature ever had. Socialism grinds people down daily, in a thousand small humiliations, until standing in line for bread feels normal.

Next Week.. Tuesday

Why does it seem so many are complaining about the price action? If it sucks stay out of it. It’ll get better, it always does!!! The key is not blowing up in the meantime. There are other markets to trade.

🦔Leopold Aschenbrenner's hedge fund Situational Awareness just got forced out of all its public holdings after margin calls from Bank of America, Goldman, and JPMorgan. The fund hit $45 billion at the start of July. His biggest bets were SK Hynix, Nebius, SanDisk, Micron, and CoreWeave, all down more than 35% this month. His shorts on software names like Adobe went against him too. Citadel bought the bulk of what was left. He's 25 years old. My Take Aschenbrenner wrote the essay series that became the intellectual blueprint for the AI infrastructure trade. Massive expansion of chips, memory, data centers, power. He was probably right about the demand. He just needed it to arrive before his margin calls did, and it didn't. When both sides of your book move against you at once, longs down and shorts up, there's no way out. His prime brokers sold for him. He named the fund after the ability to see what's coming, and got margin-called because he didn't see the turn. $200 million into $45 billion in two years, given back in a month. Korea liquidated 75% of its leveraged positions this month. Now Wall Street funds are getting the same calls. The AI infrastructure thesis might be right over the long run, but a leveraged fund has to survive until then, and his didn't. Hedgie🤗