US Treasury yields surged to a new high of 5.34%, pushing interest burdens above $1 trillion. The US fiscal pressure continues to worsen, trapped in a vicious cycle of issuing new debt to repay old debt. Meanwhile, US stocks are being propped up by a few AI and tech giants, with over half of stocks already in bear market territory, showing a significant divergence between bonds and stocks. Global pension funds are beginning to reduce their holdings in US stocks, with market concerns that if AI growth falls short of expectations, it could trigger a simultaneous decline in US stocks and bonds, and even exacerbate the US fiscal crisis.

The competition for military production capacity between China and the US has begun ahead of schedule. The US is pushing for the "decoupling" of rare earth elements from China, but the supply chain is difficult to fill in the gaps in the short term. China's shipbuilding orders have surged 2.7 times, and its global market share has reached 82%, with its massive civilian production capacity potentially translating into a military advantage. Conversely, the US faces insufficient shipbuilding and supply chain capacity, even relying on Japan and South Korea. Whether AI and robotics can fill the gaps will be crucial in this long-term war of attrition.

Host: Ye Simin

Former Senior Diplomat: Jie Wenji

Former Captain of Cheng Kung-class Fleet: Huang Zhenghui

Current Affairs Commentator: Wang Shangzhi

#USTreasuryYields #FiscalCrisis #TreasuryBondInterest #USTreasuryCollapse #FEDRateCut #AITechStocks #AIBubble #Stock-BondDifference #USStockMarketBearMarket #FundWithdrawal #France #CampusProtests #ResourceShortage #PoliceCivilianClashes #FrenchDebt #FiscalDeficit #NATOMilitarySpending #DefenseExpansion #RefugeeIsland #EuropeanDebtCrisis #LivingCrisis #US-ChinaMilitaryIndustrialCapacity #DecouplingFromChina #KeyMinerals #MineralSelfIndependence #ShipbuildingCapacity #PeacetimeConversion #WarofAttrition #LaborShortage #HumanSkillsShortage #AlliedShipbuilding #DarkShipyards #Huawei #Qualcomm #5G #De-Americanization #ChipTechnology #PatentCrossLicensing #LogicFoldingChips #Brazil #OverseasCooperation #CarMaking #AI #YeSimin #JieWenji #HuangZhenghui #Wang Shangzhi

US Treasury yields surge to 5.34%! Washington faces immense pressure to pay interest! $1 trillion in interest payments in a year! The cost of borrowing in the US is suffocating! One-fifth of tax revenue goes towards interest payments; US Treasury interest is devouring fiscal space! Old debt not repaid, new debt piling up – a vicious cycle of debt!

Bessenter: Global interest rates are rising! The world's safest assets are facing a test! US stocks hit record highs but harbor hidden cracks! AI giants become a key support for US stocks.
AI props up the Nasdaq to a record high! Tech stocks become a key support for US stocks. Half of the Russell 3000 indices have entered a bear market. US Stocks Show Superficial Prosperity but Internal Division!
A Few Giants Support the Market! AI Market Trends Support Key Variables in US Stocks!
Retirement Funds Begin to Reduce Holdings! Global Funds Decrease Concentration in US Stocks
Australia and the UK Reduce US Stock Investments! US Asset Attractiveness Tested
US Debt, AI, and Military Industries Burn Through Cash! US Fiscal Space Tested
French School Demonstrations Expand! Police-Protester Clashes Trigger Security Crisis
Fifteen-Year-Old Boy Loses Hand After Picking Up a Stun Grenade! Intensifying Protests
Over 5,000 Students Arrested Across France; Hundreds of High Schools Closed and Locked Down
General Labor Union Supports Student Demonstrations; School Protests May Evolve into Anti-Government Storm!
High Poverty Rate in Seine-Saint-Denis! Students Dissatisfied with Education Budget Cuts
Soaring Debt and Excessive Deficit! French Government Bond Yields Hit Record High
Risk Premium Widens Sharply! Markets Fear France Falls into Eurozone Debt Crisis
Soaring Inflation Intensifies; Central Bank's Interest Rate Hike Pressure Severely Impacts French Fiscal Stability!
Millions Seek Food Assistance; Charities Reach Limits!
Homelessness Ratio Surges; Young Workers Receive Advance Wages!
Student Demonstrations Ignite Social Anger! Middle Classes Face Poverty
US Calls for Decoupling from China But the key rare earth supply chain is fundamentally inseparable from China! The US military's attempt to eliminate Chinese rare earth resources within a limited timeframe is seen by industry insiders as a pipe dream! Middle East conflicts catalyze massive orders, with China's shipbuilding industry accounting for 82% of the global market! Orders are backlogged for seven years! Chinese shipyards demonstrate unshakeable manufacturing power. Chinese shipbuilding orders surge 2.7 times! 82% global market share shocks the US. The US builds only five ships a year, but a single Chinese shipyard easily surpasses that! US shipbuilding suppliers are collapsing one after another, military production capacity is in dire n...