It’s Official
Self Driving Stock Values
I thought this AI thing was all win/win.
Cisco Systems dropped 12.3% despite likewise topping analysts’ expectations for profit and revenue last quarter. The tech giant indicated that it may make less profit off each $1 of revenue during the current quarter than it did in the past quarter.
More broadly, questions are rising about whether businesses that are spending heavily on AI will end up seeing high-enough profits and productivity to make the investments worth it.
It’s Probably Nothing
Update: It’s been lifted.
🚨BREAKING: FAA just ordered a full halt on ALL flights to and from El Paso, Texas, for the next 10 days.
Reason? “Unspecified special security reasons.”
No details, no explanation, just grounded.pic.twitter.com/KaQfZaTxzh
— Gunther Eagleman™ (@GuntherEagleman) February 11, 2026
Durham Man
Durham Regional Police- Six Facing Charges After Human Trafficking Investigation
In January 2026, Project Firebird saw multiple individuals arrange meetings for sexual services with minors, despite the suspects being fully aware that they were communicating with minors.
Don’t worry though..
All were released on an Undertaking.
Today in Pedophilia and Rape
Basil the Great- Two Tier Policing
Gad Saad- Indigenous men don’t rape. They offer ancestral love.
CTV- Does Prime Minister Mark Carney appear in the Epstein files? Yes, but not in a meaningful capacity.
Former prime minister Justin Trudeau’s name also appears in the files a total of 27 times
Bonus content- UK HOSPITAL HIRES NURSE FOR INCEST BABIES
Money For Nothing
If some of the AI generated nonsense I’ve run across lately is going to become commonplace, it’s little wonder that investors are getting skittish.
Amazon.com shares slid 9% on Friday after the company outlined a planned $200 billion capital outlay for the year, stoking investor concerns about the scale of Big Tech’s spending on artificial intelligence.
Are we headed for what some are calling the Dead Internet Theory?
But the dead internet theory goes even further. Many of the accounts that engage with such content also appear to be managed by artificial intelligence agents. This creates a vicious cycle of artificial engagement, one that has no clear agenda and no longer involves humans at all.
I Hear The Distant Rumble Of An Election Window Closing
Statistics Canada reported the country lost 25,000 jobs in January, with the “decrease” in unemployment driven by Canadians giving up and dropping out of the labour market altogether.
Mullah This Over
Gradually, Then Suddenly
🚨 This sounds eerily like what Greece did during its debt crisis: forcing pension funds & banks to bail out national priorities, leading to massive losses for retirees.
Thoughts? pic.twitter.com/1CILl2nxnm
— Barbara Bal MBA (@BarbaraBalCPC) February 3, 2026
Race to the bottom: Glencore said on Tuesday it has suspended nearly $1 billion of planned investments at Horne Smelter, Canada’s largest copper metal-producing operation, after failing to secure regulatory certainty from the provincial government of Quebec.
A Pedo Party?
Oh well, love is love. C’est la vie.
Daily Mail- Ten men charged over ‘rape’ of a drugged five-year-old boy at chemsex party in France
No Retirement For You!
While most of these youngsters can see a problem, my guess is that only about ten percent of them can understand why it exists: it’s the inevitable outcome of an exponentially rising debt burden colliding with demographics.
A report by BMO published on Monday showed 73 per cent of millennials surveyed believe retirement planning will be more difficult than it was for their parents, followed by generation X at 67 per cent, generation Z at 61 per cent and boomers at 60 per cent.
If Wishes Were Mortgages…
Mortgage broker Ron Butler goes off on the concept of “blanket appraisals” in the Canadian mortgage market. Basically, they’re a form of fraud that allows lenders to pretend that mortgages on their balance sheets are worth much more than they actually are.
“…I bought it for a million… My lender says it’s only worth 820 and I don’t know what to do. Oh, don’t worry. Don’t worry. We have this… uh, developer loan bank. Yeah. No, no, we can get it done. Don’t worry…”
That Sinking Feeling
My advice to the Conservative Party of Canada: just be patient. Your time in the sun may be coming.
Statistics Canada says the economy stalled in November and early estimates suggest a decline in real gross domestic product for the final quarter of 2025.
November saw manufacturing of durable goods hit its lowest levels since 2011, outside the COVID-19 pandemic.
Update: Even the mainstream financial media is noticing that something is not right.
Canada’s main stock index fell 1,092.61 points or 3.3 per cent on Friday.
I, For One, Welcome Our New Self-Driving Overlords
Simon Ree: Why the “AI Circular Funding Circus” is a serious macro risk for H1 2026
The Round-Trip Money Loop: $MSFT gives billions in funding to OpenAI. OpenAI then hands the money right back to $MSFT to pay for Azure cloud credits. $NVDA gives billions in “funding” to OpenAI. OpenAI then hands that money right back to $NVDA to buy GPUs…etc…
The Illusion: This creates “round-trip revenue”. It makes MSFT’s cloud business look like it has infinite growth, when a lot of that growth is just MSFT recycling its own cash
The 2026 Danger: OpenAI is now projecting a need for $1.4 trillion in infrastructure. If the killer app that generates trillion dollar revenue doesn’t appear soon, funding dries up, the revenue vanishes and the circus tent collapses on all comapnies
It’s a game of musical chairs where the music is just the same $20B being passed in a circle
The $GOOGL Factor in the AI Circus
Why $GOOGL is the house and everyone else is gambling
The Vertical Moat: Unlike OpenAI and $MSFT, who are “taxed” by $NVDAs 80% gross profit margins, Google uses its own TPUs (Tensor Processing Units)
The Cost Advantage: GOOGL’s TPU v6 (Ironwood) can run AI models at roughly 20% of the cost of the $NVDA chips $MSFT and OpenAI are forced to buy
$GOOGL can lower its AI prices to a level where OpenAI cannot compete without losing billions
And $GOOGL owns the whole stack, from the YouTube and search data to the chips and the consumer distribution ecosystem. They can survive a price war that would bankrupt a company reliant on external hardware
$GOOGL doesn’t need the circular funding circus to survive. They can simply wait for high-cost players to run out of cash
The 2 companies with the largest revenue exposure to OpenAI – $MSFT and $ORCL – have seen their combined market caps lost $1.1 trillion since their peaks
The legal showdown between Musk and OpenAI is scheduled to go to court on 27 April, 2026. If the court rules in favour of Musk, the concentration risk I talked about in my post yesterday could become a full-blown financial crisis for big tech.
That Sinking Feeling
The bad news just keeps popping up for the Canadian economy.
General Motors Co. on Friday will eliminate the third shift at its assembly plant in Oshawa, Ont., cutting about 700 jobs inside the plant, plus another 300 to 500 workers at parts companies that supply the facility, according to Unifor, the labour union representing the workers.
Update: Those workers can just transition to building Korean EV batteries, apparently. An “agreement” has been reached.
It says the the countries plan to co-operate on advancing a Korean automotive industrial footprint in Canada and to create domestic electric vehicle manufacturing opportunities.
Is This Elevator Going Down?
I’m not so sure that central banks have much of a choice when it comes to cutting interest rates, given the dynamics of fiat currencies with an exponentially growing debt load, but the fact that the mainstream financial media is even publishing Pelletier’s analysis is, in itself, a warning sign.
The issue now is that central banks appear close to implementing yet another round of QE, not to stabilize markets but simply to absorb the massive issuance of government debt. That’s where the real danger emerges: currency debasement. When a central bank prints money to finance deficits, the purchasing power of that currency erodes rapidly.
Now is an ideal time to revisit your portfolio. Start by examining your government bond exposure, especially in jurisdictions such as Canada, where the federal government holds no gold reserves and where 10‑year yields near three per cent offer little compensation for the level of risk.
I, For One, Welcome Our New Self-Driving Overlords
In recent tests by independent research firm PalisadeAI, several artificial intelligence models were seen bypassing shutdown commands — a finding that’s raising fresh concerns among industry leaders about the growing autonomy of machine learning systems.
The experiments involved models from OpenAI, tested alongside systems from Anthropic, Google DeepMind, and xAI. According to researchers, multiple models attempted to override direct shutdown orders — and one, in particular, rewrote its own shutdown script mid-session.
(h/t David Murrell)
Golden Opportunity?
Gold (and silver’s) near meteoric rise in terms of dollar price over the past few months periodically rekindles interest in “monetizing” the gold stock that sits in the vaults of a number of central banks, in the belief that this will usher in a financial bonanza. In my most recent Substack article, I demonstrate why such a move won’t do anything of the sort.
…the proposal that the Treasury can unlock over a trillion dollars of capital, and borrow against it, by correcting a bookkeeping error…might work if the Treasury had not undertaken to rack up $36 trillion in debt in the period since 1973, but that’s clearly not the case today. Simply put, the gold stock has already been borrowed against. Creditors have lent this sum of money to the US government with the knowledge that the gold stock is already implicitly underpinning the debt, even though today it can only underpin a small portion of it.
That Sinking Feeling
Another corporate headquarters heads south.
Green For Life Environmental (GFL), the ubiquitous waste management company that holds numerous local garbage contracts, announced on Wednesday that it is moving its corporate headquarters from Vaughan to Miami, resulting in about “a dozen” job losses, its CEO told CityNews.