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Money & Markets

Spot the Bag Holder

October 15, 2026

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The AI Bubble Is a War between the Productive and the Unproductive

Money & Markets

Spot the Bag Holder

John Titus and Catherine Austin Fitts record an Oct. 14 Money and Markets episode themed “spot the bag holder,” arguing Main Street—not banks or hyperscalers—will be left holding losses as an AI boom financed by massive debt and circular funding (including Nvidia-backed customers) shows 2008-style warning signs and could become a solvency crisis requiring bailouts and money printing. They warn index-fund and 401(k) investors to assess over-concentration in megacap AI stocks, noting rising mortgage rates as AI borrowing pressures credit while households bear higher costs. They discuss corporate fraud incentives (CVS/Obamacare “ghost” policies), the collapse of the crypto-deregulatory CLARITY Act and the SEC’s “innovation exemption” enabling tokenized trading, OpenAI accused of exploiting user inputs, Utah’s AI prescribing pilot, data-center backlash affecting midterms, and geopolitical energy-war theater involving Russia, Ukraine, Iran, and wider economic strain, plus Gaza destruction. They close with Solari in-house items and a call to take responsibility before the “runway” ends.


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