We read the footnotes.

Tokenomics 5: 8% Recession Risk, The Truth About Inflation & Interest Rates, Stocks Up To 50% Undervalued, And AI Spending Up 214% (And the Charts To Prove All Of It! It’s A LOT More Interesting Than It Sounds, I Promise! 🤔😉😂)

Corrections feel short lately? Every 3 months we get FACTS (earnings)... and when the economy is growing, stocks recover in about 1.4X the time they fell. A 2-month drop = 3 months to reach record highs. Recession because Hamburger Helper sales are up? 🤔 The bottom 20% spend every dollar they have, BUT that's just 2% of S&P profits. The Mag 7: 12.5X that last year, ~15X this year. Where's the recession? 😂 After WWII, recessions hit every 4.6 years. Since 1982? Just 4 in 44 years, each with a shock behind it. JPMorgan's David Kelly says "We're post cycle"... and so do I. A 15% baseline recession risk? Too high 🤔 Priced for perfection? On Oct 12, the S&P 500's PEGY was 0.69, 47.8% below normal, and ALL 6 investing styles we track price in less growth than Wall Street expects. It's the everything ANTI-bubble 🤯 Out-of-control inflation? Real-time inflation is 2.91% and CPI is 3.7%... vs a 3.3% average since 1913. Historically NORMAL. And the bond market (the smart money) isn't worried about runaway inflation. Highest 10-year yield in 20 years? A 2.9% real yield is NORMAL after the freakish ZIRP era. Who dumps a Nasdaq expected to grow cash flow 31% a year for 2.9%? Fed hikes don't run my portfolio. Asset allocation does 😂 Is the AI boom cracking? Ramp's data: median AI spend per employee is up 214% in a year (vs 64% a year ago). ACCELERATING. Kimi and DeepSeek eating everyone's lunch? Anthropic and OpenAI get 96.5% of the spend 🤣 The scariest AI-bubble math says AI revenue must hit $3T by 2030 (double it every year). On real spending it's 52% a year... and AI infrastructure revenue just TRIPLED. So CTFD (calm the frack down) 🤣😂

AAdam Galas/Oct 15, 2026