They don’t teach that from 1920-1970, the US had severely restricted immigration.
In those 50 years we won a world war, became a global economic + military superpower, created a booming economy, a rising middle class and a strong common culture. The America everyone talks about.
UPDATE: The Hyperliquid whale holding $744M in ETH, BTC, and SOL longs is now down over $53 MILLION in unrealized losses as the market pullbacks sharply.
It expanded its foundry market share from 33% in Q3 2024 to 36% in Q3 2025.
Its market share jumps to over 90% in manufacturing of the most advanced chips and it’s not going to decline anytime soon.
Its yields in 2nm are still around 20%-30% higher than Samsung’s and it’s the only foundry that is on track for mass production on 1nm process by 2030.
No matter who designs the most advanced chips in the future, $TSM will be the one manufacturing them.
According to Bloomberg, “around $1 trillion was pulled from active equity mutual funds over the year, marking an 11th year of net outflows, while passive equity exchange-traded funds got more than $600 billion.” Two factors, disappointing performance and high fees, not only drove this migration but also created additional challenges for actively-managed funds – all this as, on the other side, passive funds remained structurally bound to the index, unable to overweight the handful of mega-cap stocks that drove market gains.
US consumers are seeing historically low savings rates:
The US personal savings rate has declined -1.0 percentage point over the last 5 months, to 4.7%, the lowest since December 2024.
This is the 2nd-lowest reading since December 2022.
By comparison, the 5-year average before the pandemic stood at 6.1%, while the last 5-year average was 6.5%.
During the 1980s, savings as a % of disposable personal income averaged 9.8%.
This comes as declining wage growth and persistent inflation have squeezed household budgets, pushing savings lower while consumer debt continues to hit records every quarter.
Hedge funds often augment their investment positions using leverage. The leverage sources can be divided into three categories: prime brokerage, repo, and other secured borrowing. Prime brokerage and repo borrowing have increased rapidly over the past few years, as shown in this chart.
Fed Reserve just pumped $2.5 Billion into the U.S. Banking System through overnight repos 🤯 More than $120 Billion has been injected this year, compare that to prior years 👀
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