We know what’s coming and we are prepared.
💸 Luke Gromen on X:
"Why DOGE doing what Milei did in Argentina in the US will NOT lead to a decline in US deficit/GDP, but a catastrophic BLOWOUT in US deficit/GDP unless US debt/GDP (USD) is significantly devalued 1st (b/c US receipts follow stocks, & deficits rise fast w/rates at 125% of GDP):
If we want to cut Entitlements + Defense to reduce the deficit/GDP, only to end up with higher deficit/GDP by the end of 2025 as stocks fall hard & rates spike on strong USD (see Wed's post-Fed market action), then we should do what Milei did in Argentina before devaluing USD
US receipts fall when rates rise. US outlays rise nonlinearly when rates rise with $36T in in debt. And US receipts fall when stocks fall
The US govt allowed this system to evolve, now they are getting the system they wanted, good and hard.
If I wanted to ensure that the US deficit/GDP was a multiple of where it is today in 12 months' time, I'd slash govt spending before devaluing US debt/GDP (the USD.)
If I wanted to position the US fiscal position for growth, I'd devalue debt/GDP 1st (USD), then "DOGE"."
📎 Luke Gromen
Ukrainian forces have begun training and testing exoskeletons for battlefield use. Soldiers from the 147th Separate Artillery Brigade are using them in the Pokrovsk sector for both logistics and frontline operations. The goal is to reduce physical strain, especially when loading heavy artillery shells into howitzers without automatic loaders. Artillery crews can handle up to 1200 kg of ammunition per day, and early tests show that exoskeletons help them work faster and with less fatigue Above all, by improving the conditions for those soldiers on the front lines who handle such heavy loads, plus the stress of work. Seeking to reduce overall fatigue in the troops
🇺🇸❌🇮🇷 — Ground clashes are occuring between IRGC soldiers and American CSAR troops. American soldiers are inside Iran.
@GeoPWatch
⚡🇺🇸 Rumors have emerged that President Trump is in the hospital as all roads leading to Walter Reed Medical Center have been cordoned off and a "lid" has been called today by the White House, meaning Trump won't appear in public.
The White House has denied the rumors and it is Saturday, but those are the rumors.
@medmannews
🇺🇸🇮🇷🇮🇱 - WAR IN IRAN | APRIL 3rd, DAY 35 RECAP:
🇮🇷🇰🇼 - Iran has struck the Mina Al-Ahmadi refinery in Kuwait. Multiple fires have been reported.
🇱🇧🇮🇱 - “The disarmament of Hezbollah is not one of the objectives of the IDF’s fighting in Lebanon at this stage,” the IDF said.
🇮🇷🇰🇼 - Iran has struck a Kuwaiti power and desalination plant, causing damage, according to the Kuwait Ministry of Electricity.
🇮🇷🇦🇪 - Habshan gas facilities in Abu Dhabi have temporarily suspended operations after a fire broke out due to an Iranian attack.
🇫🇷🇮🇷 - A French-owned cargo ship crossed the Strait of Hormuz earlier this morning. It was broadcasting its position and planned route openly and encountered no incident.
🇺🇸🇮🇷 - A U.S. F-15 fighter jet was shot down over southwestern Iran. One pilot has been rescued, while the second is still missing, according to the Pentagon.
🇮🇷🇶🇦🇵🇰 - “In a dramatic turn of ...
