Capex Boom
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X @Raoul Pal
Raoul Pal· 2026-05-11 03:55
There is a rising probability that we have a super cycle based on:Increasing interest payments that need monetizing via the bank of systemThe reliance on short term bill issuance reducing cyclically of debt rollover.The largest capex boom in history based on the most important tech ever.An potential explosion in bank credit to finance the capexA global race between China and the US that can't be stopped.The only thing that stops this is if services inflation disinflation (via productivity) doesn't offset go ...