Seth retweeted
WELCOME TO SEATTLE. I MEAN CUBA, COMRADE. 🇨🇺☔
You all know how I feel about Seattle. I live here. I pay for here. And I've been begging to move my job to Florida since my clients are in finance and they're all over the globe anyway. The answer so far? Wait until next year. So I wait. In the rain. Watching the city eat itself.
Let's take the tour.
🏛️ Seattle elected Katie Wilson mayor. A self-described "sewer socialist." I didn't make that up. She did.
💸 Washington passed a 9.9% "millionaires tax" on income. Signed in March. In a state that brags in every brochure that it has no income tax. Starts at $1 million. Just like Washington's capital gains tax started at "only the rich." Give it five years, it'll be taxing your garage sale.
🏗️ A Seattle architecture firm told FOX 13 that fear of the millionaires tax killed a major project. "An economic chill." Rich people don't build towers in cities that call them the enemy. Who knew? Everyone.
☕ Starbucks, born in Seattle, opened a Nashville office and told Seattle staff: move or lose your job. 224 got layoff notices. 120 of them turned down Nashville. Even the COFFEE is leaving Seattle.
📦 Amazon filed another WARN notice: 121 more layoffs across Seattle, Bellevue and Sumner. Axios calls it "the relentless drip of Seattle's tech layoffs." That's a drip like the Titanic had a leak.
🏠 GeekWire says Seattle's pending home sales posted the sharpest drop in the NATION. First place! Finally Seattle wins something.
📉 Venture funding in the Seattle area is down. An economics professor on KING 5 is asking "Where's the bottom?" Sir, I'll tell you. It's in Portland. They found it first.
🏢 Downtown? About 35% of office and retail space sits empty. No job growth in three years, says the Downtown Seattle Association. A $175 million city budget hole. And the plan to fix it? More taxes. Obviously.
🎰 Someone literally built a website to help Washington residents move to Las Vegas. VEGAS. People are choosing the desert, 115 degrees and a slot machine at the grocery store over Seattle.
And it's not stopping at the city limits. Bellevue and Redmond, you're next. The tax collector has a car.
We've seen this movie before.
🏚️ Detroit had 1.85 million people in 1950. By 2020, about 640,000. In 2013 it filed the biggest city bankruptcy in American history.
🌹 Portland? Already there. Just with more kombucha.
Socialism never survives. It never has. Higher taxes and bigger government chase out the people who pay the bills, every single time. Venezuela. Cuba. Detroit. Portland. Now Seattle wants a turn.
And yet every generation thinks THEY'LL be the ones to get it right.
Which brings me to Initiative 645. Washington, this one's on you.
✅ Vote YES on I-645 and you repeal the 9.9% income tax. Vote NO and you keep it. On the ballot November 3.
Here's the trick. The Attorney General's office wrote a ballot statement saying repeal "would decrease funding for public K-12 education." Money that doesn't exist yet and won't show up until 2029. They're scaring you with the kids. Again.
And it works. DHM Research polled 800 Washingtonians. Show them that scary sentence: 57% keep the tax, 35% repeal. Leave it off: 44% keep, 40% repeal. One sentence written by the government moved the vote almost 20 points.
The people voting NO think they're finally getting a piece of someone else's stuff. They're not. Millionaires own moving trucks too. Ask Starbucks. They'll get 10% of nothing.
Some of us are trying to save this state. But the people who fall for the same trick every single election keep outnumbering us. They keep electing the same people and expecting a different result. Einstein had a word for that. So did my grandmother. Hers had four letters.
Seattle, honey, you have the mountains, the water, the coffee and the talent. You're throwing it all away for a slogan.
Florida, please hold. I'm coming. 🌴🦋
🤖 Made with AI
Seth retweeted
The great Norm Macdonald (d. 2021) would have turned 67 today. A true comedian's comedian.
Macdonald never hid his admiration for the legendary Rodney Dangerfield, whom he called his comedy idol. In a 2011 interview, he fondly recalled Dangerfield's 1996 Weekend Update cameo on Saturday Night Live, describing it as one of the highlights of his time on the show. For Macdonald, sharing the desk with his hero was a dream come true.
Seth retweeted
On my way to the office this morning, I passed a group of young people protesting, a Palestinian flag draped over their shoulders.
And I asked myself a question I can't shake: why does this generation always fall into the same trap? No matter the history. No matter the context. Even the ones from wealthy families, who went to the best schools, who were dealt every good card. Always the same trap.
I don't think it's stupidity. I think it's a mechanism. And a mechanism can be taken apart, piece by piece.
A. The observation: everything the state touches becomes unaffordable.
Look at economist Mark Perry's famous chart, the one people call "the chart of the century." It tracks US prices since 2000.
At the top, what explodes: hospital services, college tuition, textbooks, childcare, housing. Increases of +100%, +150%, up to +250%, far above general inflation.
At the bottom, what collapses: TVs, software, phones, toys, clothing. A TV today costs a fraction of what it did in 2000, for an infinitely better product.
Look at what separates the two groups. It isn't technology. It isn't complexity. It's one variable: how much the state is involved.
At the top, sectors that are subsidized, regulated, shielded from competition, where the state funds demand and blocks supply. At the bottom, sectors where companies fight every single morning to serve you better and cheaper.
B. The mechanism: why it's systematic.
When the state subsidizes demand without freeing supply, prices rise. Every time. Guaranteed student loans, and universities raise tuition. Housing aid plus blocked building permits, and rents skyrocket. Administered healthcare, and bureaucracy eats the budget before it ever reaches the patient.
In France it's even more vicious, because the price doesn't disappear: it hides. You never see the hospital bill, you pay it through payroll contributions. You never see the cost of school, you pay it through taxes. Public spending at 57% of GDP, one of the heaviest tax burdens in the world, more than €3.4 trillion in debt. And the result? Overflowing ERs, falling PISA scores, young people who can't afford to live in the city where they work.
The market didn't fail in these sectors. It was never allowed in.
C. Suffering demands a culprit.
A 22-year-old lives all of this in their bones. They can't find a place to live. Their degree either buries them in debt or opens no doors. The future feels blocked. That suffering is real, and I don't deny it for a second.
But human beings can't stand suffering without a culprit. They need a face. A scapegoat.
And this is where everything is decided: who taught them how to read the world?
D. Whoever tells the story picks the villain.
Schools are public. Universities are public. Culture runs on grants. Film goes through funding committees. Public broadcasting shapes the narratives. The people handing down the interpretive framework are, overwhelmingly, paid by the very system that creates the problem.
Do you really think that system is going to name itself as the culprit?
No. It names the capitalist. The boss. The landlord. "The rich." The multinational. The commercial West. Same role, same casting, every time.
E. One lens, a thousand causes.
And this brings me back to that flag. A generation taught to read every situation through a single lens, oppressor on one side, rich, Western, capitalist, oppressed on the other, will apply that lens everywhere. To housing. To climate. To conflicts on the other side of the world. The cause changes, the lens stays. That's why the trap is always the same: it's not the cause that draws them in, it's the way of thinking that was installed in them.
F. The perfect inversion.
Here's the irony. Capitalism is the force that drove down the price of almost everything it touched. The state is the force that blew up the price of almost everything it captured. And young people blame the first for the crimes of the second.
It's like blaming the firefighter for the fire because you saw him at the scene.
G. The ballot box confirms it.
In the US, a few weeks out from the midterms, a large share of urban young voters is getting ready to vote Democrat for more state, more spending, more regulation. New York elected a self-described socialist mayor, carried by young voters, on promises of rent freezes and city-run grocery stores. Rent freezes, the policy that has made housing scarcer everywhere it's been tried. The cure that worsens the disease.
In France, it's the same play in two acts. Part of the youth votes for the radical left, which promises more state. Another part votes for the center, which promises to "manage" the state well, and has dug the debt deeper than ever. Two different ballots, one shared assumption: the problem is the market, the solution is the state.
H. The way out.
These young people aren't stupid. They're right to be angry. They're just aiming at the wrong target.
The day they understand that their rent, their tuition and their hospital are expensive precisely because the state runs them, their anger will change direction. They'll stop protesting against those who create. They'll start protesting against those who capture.
That day, the greatest intellectual scam of our time will be over.
Seth retweeted
Everybody with common sense should vote Republican in November!
If you don't believe me, just listen to this..
No Socialist/Communist!!
Seth retweeted
“I challenge Warren Buffett to a thumb war.” 🤙
It was probably a joke. Remember, it was when Musk v. Zuck were challenging one another to a cage match. But the Buffett reference fit a broader comparison: Cohen, like Buffett, emphasizes cash, patience and optionality. “Gameshire Hathaway” is community language, not a corporate claim.
Almost a year later, on June 3, 2024, BRK.A briefly printed at $185 👎 despite trading near $630K. The NYSE identified it as a SIP error and canceled the trades.
At the same time $GME, $AMC and other securities were caught in a broader LULD halt cluster. That does not prove a connection. It does show how quickly a market-data failure can create an impossible story on the screen. Especially, on heavyweight gaslit “memes.”
GME had already begun moving in early May. Keith Gill’s return to X accelerated the rally, with GME eventually reaching $64 amid repeated halts. AMC moved alongside it, more than doubling during the same two-session window.
Both companies then raised capital into the demand: approximately $933 million for GME and $250 million for AMC. The attention helped, but the market’s liquidity made those offerings possible.
Then there was April.
Barclays-related DTCC/OTC registry activity involved the legacy Lehman identifiers LEHM and LEIM. Barclays inherited Lehman’s North American investment-banking and capital-markets infrastructure in 2008.
That is not proof of a live Lehman liability, synthetic GME exposure (Ripley) or a connection to the Berkshire print (“Believe It or Not!”).
It is simply a reason to examine the clearing and settlement plumbing more closely.
Now back to our current timeline…
The same chin rubbing applies to the number $9,000,100 paid anonymously for what may have been Warren Buffett’s final charity lunch. The figure echoed the 9,001,000 GME shares Keith Gill disclosed in 2024, separated by only 900 shares. But, it reads, oh so matchy-match!
There is no evidence linking the bidder to Cohen or Gill.
It may be Cohen’cidence. The Apes saw it as a possible signal.
What’s documented is narrower —
Cohen challenged Buffett.
GME and AMC later moved sharply.
Gill returned publicly 🐈⬛🐈⬛
Both companies raised substantial capital.
Berkshire briefly printed at an impossible price -Down 99%!?
And an anonymous bidder paid $9,000,100 for a seat at Buffett’s last table dance.
That is not proof of a hidden connection. It is enough to justify questions, and that Pepperidge Farm always remembers.
Because the screen said $185
— The transfer books did not.
What remains… Legendary‼️
Seth retweeted
“Limitless” and the swinging machete =
Print AMC on it and four things happen that a nameless contract “Token” cannot do:
1.) It steals the search.
Nobody opens an app looking for “RHJ Series 191 debt.” They look for AMC. The name is how the stall gets the customer who meant to go to $AMC
2.) It maps in the machines.
Risk books, wallets, screens, price feeds, corp-action engines — they don’t read a prospectus. They read a ticker and a label. Call it AMC and the system treats the token as the AMC line. Call it “Jersey note 191” and it sits in a junk drawer.
3.) It becomes a hedge handle.
If you are short the stock, long the token, or running both, you need them to be the same thing in the book. The name is the couple. Not that a logo files itself into a bank TRS. That a product wearing AMC can be used against AMC: offset, pair, absorb demand, print supply that looks like the stock. A no-name swap can’t do that without someone writing a custom link. The badge is the link.
4.) It borrows trust they didn’t earn. AMC the company spent a century and a ticker making that mark mean “this is the share.” The token borrows that in one icon. Buyer thinks they got the movie. They got the poster. Strip the name and you still have a price contract.
What they won’t have:
• the shopper — who buys “Jersey Debt Note 191”?
• the screen real estate
• the pair trade
• the “this counts as AMC” line in a book
Seth retweeted
Let’s be precise.
There is no official AMC stock token. Adam Aron said that out loud. AMC did not issue this. AMC did not approve this. The buyer does not get a vote and does not get a share.
What Robinhood is standing behind is a wrapper with AMC’s name on it.
If the backing is real, the market should not need a $100 headline to understand it. That number was not AMC. It was a small pool and another coin using the name.
If one token equals one share, you should be able to turn it into one share. You cannot. So the vault and the chart are not the same thing.
And if a wrapper can be treated like inventory, it can be used to explain a short that never got closed.
If this product is as solid as they say, they should want that test in the open — not the slogan.
Own the stock. Not the lookalike‼️
Seth retweeted
Replying to @Johnnyslesh
Quincy, Florida. Tiny tobacco town in the Panhandle.
A banker named Mr. Pat watched broke farmers still spend their last nickel on a cold soda-pop, Coke. Even in the Depression— especially in the Depression.
He told the whole town: buy Coca-Cola. Don’t sell.
$19 a share. About $370 today. Harvest money, loan money. Not a flyer.
They bought and they held. Dividends paid the bills when the crops failed. One share became a fortune. Sixty-seven millionaires in a town of four thousand. Richest place in America, per capita.
They didn’t need a squeeze. They needed a product people still bought when they were broke — and the spine not to sell it. OG Apes, right?!
Same year that dividend started paying, 1920, three brothers in Kansas City bought a single theater. That became #AMCTheaters
One hundred and six years of movies. One hundred and six years of Coke checks.
Two American habits that survived hard times.
That’s the rhyme if AMC drops a dividend before it ever runs $10–20.
Stay—Get paid—Keep going to the movies‼️
The Quincy play is quite the parallel story. 🥤🍿
$AMC
my-florida.net/florida/north…
Seth retweeted
The Dominos are lining up…
Jane Street: too big to ignore, too powerful for US regulators to question - despite the $15B loss, the India ban, the crypto lawsuit, and the AI fund that imploded on their watch?
“…we can’t dismiss the possibility that Jane Street’s core activity in US markets may cross the line into practices that disadvantage retail traders - or worse.”
-@rdubitsk
“…In case you wonder whether the market is rigged, S&P and Fitch confirmed their ratings in the face of the refinance but in their press release said nothing, not a word about a $15B loss.
You would think that a $15B loss is vaguely relevant to the rating and the lack of a mention can only mean one of two things: the ratings agencies didn’t know or they knew and didn’t disclose.
Either is bad
In fact in their credit confirmation note, Fitch touted JSG’s “strong earnings generation.”
Seriously?
Nothing about a $15B loss?
This is abject failure by Fitch. S&P also noted JSG’s “track record of strong profitability.”
No mention of a record loss…”
Seth retweeted
Credit to @trvsrdrgz2 for putting this chart in front of the community. $AMC $GME
Most still don’t grasp how severe this is.
This is TLT (20+ year Treasury bond ETF).
Treasury yields (the interest rate / “percent”) go up AND bond prices go down. Hence TLT chart goes down. ⤵️🪟🐂
TLT is the price of long-term U.S. Treasury bonds.
Price and yield move in opposite directions.
Every candle = one full year.
We are about to tag the 2003 low 🤯
That’s not a normal pullback…
this is a multi-decade collapse in the “safest” asset on the planet‼️
Long-end yields are ripping higher while the government keeps issuing massive amounts of debt. Interventions (buybacks, liquidity talk) are already failing to hold the line for more than a day.
When the long bond market breaks like this >>>
the cost of capital rises system-wide. Leveraged players, banks sitting on unrealized bond losses, and private credit all feel the pressure. Liquidity gets tighter. Volatility spikes. Forced repositioning happens. <<< Where’s your meme stock —now?!
That’s the environment where heavily shorted names stop trading “normally.” Moderna 177% gain this week wasn’t just talking MSM heads praising a cancer cure. There was a heavy short to contend with post breakthrough.
The government and media will not put this on the evening news ❌ 📺 📰 !!
They never do until it’s already in motion.
Watch the plumbing bulge and
not the current headlines.
Seth retweeted
After Moderna’s massive move yesterday — the biggest single-day gain ever in the S&P 500 —
Let’s zoom out. ✈️ 👀
—— • —— • —— • ——
Biggest single-day % moves among major liquid stocks:
AMC +301%
MRNA +177%
GME +135%
—— • —— • —— • ——
$MRNA took the S&P 500 record.
$AMC still sits alone at the top.
One was short pressure that backfired.
One was cancer data.
Both absolute monsters.
You already know which one still hits different.
Replying to @SuperLuckeee
$MRNA on 8-19-26:
“Largest single day gain of any stock in the S&P500 at 176% in over 25 years.” — thanks Kelly and the MSM.
But — Let’s dig deeper…
#codybus top 10 most important WWE wrestlers of all time chronologically
1. Bruno
2. Hulk
3. Piper
4. Macho
5. Bret
6. Shawn
7. Austin
8. Rock
9. Cena
10. Reigns
Thoughts?
Seth retweeted
When leverage gets this extended and this high, the system has fewer clean ways to clear the stress. A controlled crisis -- or the appearance of one -- can reset positioning, force transfers, and consolidate power further. Blue face is not safe or healthy.
Seth retweeted
AMC, $AMC, has said it has its "highest weekend revenue mark in the company’s 106-year history."
Seth retweeted
The Griffin Grift:
Rings similar to Bill’s play…
2020
Ackman on CNBC. Near tears.
Begs POTUS to shut it all down.
“Hell is coming.”
Markets panic.
His firm had already loaded the hedges that paid $2.6B as the fear hit.
2026
Citadel Securities pushes a surprise Fed hike — against consensus.
Selling pressure builds.
Leveraged AI books get crushed.
Days later, SA liquidates the entire public book in one print.
Citadel buys it at a deep discount.
They talk the fear.
They show up when the fear turns into forced selling.
Same movie.
Different lead actors.
Same “Greed is good” line.
The Wunderkind meets the Pit Boss ~~~
The market has a recurring character…
They don’t always cause the explosion. They show up when everyone else is trying to survive it —
• They don’t need to know who’s right.
• They need to know who’s forced to sell.
We’ve seen this movie before:
2021
Melvin went nuclear short GME and AMC.
The trade moved violently against them. Citadel was there as the unwind accelerated.
2026
A 24-year-old who wrote the strategy guide that became the bible of the AI trade goes nuclear long AI chips and short software. 4x levered.
Then both sides of the book move against him at the same time. 😱🙀😱🙀
Six days earlier he told investors this was the best opportunity since 2025 and asked for more capital:
❌ The capital never arrived.
☎️ The margin calls did.
This morning the entire public book was liquidated in one premarket unwind.
Ken Griffin didn’t need to win the argument. He’s been running the casino for 35 years. He just vacuumed up the busted chips… for pennies on the dollar!
That’s why Citadel often looks less like another player at the table and more like the Boss of the bomb squad. 💣 🚨
They don’t prevent the explosion. They show up after it — when a leveraged book blows up:
• Someone is forced to sell.
• Someone has to provide the liquidity.
• Someone gets to buy what others no longer have the choice to hold.
But here’s the real question.
The bomb squad is still standing next to the blast.
Every balance sheet has limits.
Every risk model has a breaking point.
What happens when the blast reaches the people holding the cleanup equipment? 🌋
A thesis tells you what you believe will happen.
A margin call tells you when your belief no longer matters.
Different trade.
Different era.
Same movie.
Who’s next?
~~~~~~
Anyone seeing a pattern?
South Korea looks very scary right now…
reuters.com/world/asia-pacif…
Seth retweeted
Replying to @HBK_zy
Well his colleagues—
Joe Kernan & Beck Quick love the theaters‼️ Joe’s son works for #AMCTheatres and Becky has been to as many movies this year, “similar to when she was a teenager.”
@CNBC this morning 👇👇
“Tickets are HOT, theaters are HOT!” $AMC Fandango/Rotten Tomatoes dude…
Seth retweeted
The Wunderkind meets the Pit Boss ~~~
The market has a recurring character…
They don’t always cause the explosion. They show up when everyone else is trying to survive it —
• They don’t need to know who’s right.
• They need to know who’s forced to sell.
We’ve seen this movie before:
2021
Melvin went nuclear short GME and AMC.
The trade moved violently against them. Citadel was there as the unwind accelerated.
2026
A 24-year-old who wrote the strategy guide that became the bible of the AI trade goes nuclear long AI chips and short software. 4x levered.
Then both sides of the book move against him at the same time. 😱🙀😱🙀
Six days earlier he told investors this was the best opportunity since 2025 and asked for more capital:
❌ The capital never arrived.
☎️ The margin calls did.
This morning the entire public book was liquidated in one premarket unwind.
Ken Griffin didn’t need to win the argument. He’s been running the casino for 35 years. He just vacuumed up the busted chips… for pennies on the dollar!
That’s why Citadel often looks less like another player at the table and more like the Boss of the bomb squad. 💣 🚨
They don’t prevent the explosion. They show up after it — when a leveraged book blows up:
• Someone is forced to sell.
• Someone has to provide the liquidity.
• Someone gets to buy what others no longer have the choice to hold.
But here’s the real question.
The bomb squad is still standing next to the blast.
Every balance sheet has limits.
Every risk model has a breaking point.
What happens when the blast reaches the people holding the cleanup equipment? 🌋
A thesis tells you what you believe will happen.
A margin call tells you when your belief no longer matters.
Different trade.
Different era.
Same movie.
Who’s next?
~~~~~~
Anyone seeing a pattern?
South Korea looks very scary right now…
reuters.com/world/asia-pacif…
Seth retweeted
Replying to @xMarketNews
CNBC just had their newest version of: “Naked shorts, yeah”~ ‘meme stock, slip of the tongue’…
• “I actually think the eBay deal will go through” —
Jim Lebenthal 😳




























