Construction spending has fallen every month since Trump took office — except in months when the project was a data center. Jerremy Alexander Newsome and Dave Conley say the Nasdaq rode Nvidia’s earnings higher while the Russell 2000 dropped 1.4% in the same stretch, proof the AI trade and the real economy are pulling apart. They point to Walmart, Target, and Home Depot calling margin pressure “psychological” when people can’t afford gas. Dave flags the U.S. government now holding stakes in 31 private companies and calls it more socialist than anything the left has proposed. Jerremy and Dave also break down Iran, the UK’s leadership shakeup, and why nobody’s building houses or factories anymore — only data centers.

Timestamps

• (00:00) Quasar meets politics – portfolio and policy collide from minute one
• (00:25) No real diplomacy – Iran, Ukraine, and a UK leadership shakeup
• (05:34) AI rally, cracking economy – Nasdaq climbs while Russell 2000 falls
• (08:33) Chart ceilings – SpaceMobile, Rocket Lab, and Nvidia hit resistance
• (10:48) Supply chain squeeze – memory, power, and compute all under stress
• (12:29) Energy at record highs – oil stays stubborn despite the rally
• (13:16) Nuclear on base – military quietly testing small reactors
• (15:28) Robinhood, Reddit, Bitcoin – meme stocks meet a sixty-two-thousand floor
• (18:06) Congress on break – midterm chaos brewing while nobody’s watching

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