The Zach Foust Show

Send us Fan Mail Episode 101. Sean is back on the boards, healthy and happy, and we are digging into the trickery happening over at the Treasury and the impossible position the Federal Reserve has put itself in. Here is the setup. The July Treasury statement shows $334 billion came in and $766 billion went out. That is more than double. A $432 billion deficit in a single month. Scott Bessent's answer is that we will grow our way out of it, mostly through tariff revenue. So we ran the math. Ou...

Send us Fan Mail A warning flare just went up in the currency markets and almost nobody is talking about what it actually means. The United States just bought the Japanese yen for the first time in over a decade, and I want to walk you through why that quiet little intervention is a much bigger deal than it looks. I break down the yen carry trade in plain English on the whiteboard. How investors and governments borrow cheap yen at around 1% and buy US bonds paying 4% to pocket the difference...

Send us Fan Mail Everybody is talking about whether AI is a bubble. Almost nobody is talking about how it is actually being paid for, and that is the part that should scare you. Sean, Joe and I follow the money all the way down. I walk through the four ways the hyperscalers like Meta, Google, Oracle, and Nvidia are funding this AI buildout. First capital expenditure, which jumped from 18 billion a quarter in 2019 to 130 billion a quarter today. Then domestic corporate bonds, which exploded fr...

Send us Fan Mail Nobody taught us how bonds work in school, so I am going to teach you today, because the 30 year Treasury bond just hit a 19 year high and almost nobody is talking about it. I am broadcasting from the producer chair and breaking down the one signal that cannot be spun by either party. The bond market. I walk you through what a bond actually is, what a yield actually means, how the Dutch auction sets the rate, and why when these long term bond rates climb, your mortgage rate ...

Send us Fan Mail I did not want to make this episode. I have been trying to bring positivity into this space, but there are no good updates on the Epstein files and I owe you the truth. We have 6 million files. Only 3 million have seen the light. Todd Blanche and the DOJ just told a federal judge they will not release or unredact the rest, including at least eight email exchanges about a torture video, interviews with a woman who says she was abused by Trump as a minor, and the records tied t...

Send us Fan Mail I pulled 11 graphs together and I want to walk you through every single one of them because I think most people are feeling this economy without being able to see it clearly. These graphs show it clearly. We start with data centers surpassing office construction in value for the first time in history and why the 200 jobs they promise are mostly custodial and security. We look at the S&P 500 versus job openings and the K shaped gap that began the exact month ChatGPT launch...