We're covering an imminent commercial real estate crisis that could devastate regional banks, the inevitable convergence of Bitcoin mining with energy production, and a coming cultural shift toward formal dress codes and higher standards.
We're covering an imminent commercial real estate crisis that could devastate regional banks, the inevitable convergence of Bitcoin mining with energy production, and a coming cultural shift toward formal dress codes and higher standards.
Gerald Celente painted a stark picture of the commercial real estate market's future, predicting a wave of defaults that will severely impact the banking system. With office occupancy rates hovering at just 49.7% and vacancy rates around 20% (compared to 11.4% pre-COVID), the mathematics of this crisis are becoming undeniable. Celente pointed to recent examples like a Midtown Manhattan building that sold for $300 million in 2006 going for just $8.5 million at auction, and two Denver buildings that sold for $3.2 million after being valued at over $100 million in 2019.
"You're gonna start seeing a lot of defaults on loans. Big time," Celente warned, noting that small and medium-sized banks hold the majority of this exposure. With five and ten-year leases from the COVID era now coming due, many tenants aren't renewing at previous rates. Celente predicts this will lead to a banking crisis that dwarfs the 2023 failures of Signature, First Republic, and Silicon Valley Bank. He expects Trump to aggressively lower interest rates to prop up markets, which will further weaken the dollar and drive gold prices higher as the world loses faith in U.S. economic hegemony.
During my appearance on Parker's new energy and mining focused podcast, we explored how the industry's evolution will ultimately lead to vertical integration with power generation. Currently, Bitcoin miners operate as middlemen between energy producers and the Bitcoin network, but this dynamic will shift dramatically. "Ultimately power generators are going to have the most control over those costs," I explained during our discussion, noting that generators will become miners because "when it comes to controlling the cost, at the end of the day, it's a race to the bottom."
The prediction stems from Bitcoin mining's unique position as both a buyer of first resort (enabling new power generation projects) and last resort (absorbing excess power during negative pricing events). We discussed examples of nuclear facilities that must eat negative pricing costs when wind overproduces, situations where Bitcoin mining behind the meter could transform losses into revenue. As mining becomes increasingly competitive and margins compress, the entities closest to the source of power generation will have insurmountable advantages. This transition will accelerate as more energy producers recognize Bitcoin mining's ability to de-risk capital expenditure on new generation capacity while providing a consistent baseload customer.
O.W. Root sees early signs of a cultural shift that will manifest in the return of dress codes and formal standards within the next 20 years. He points to nascent movements like restaurants beginning to enforce "no dogs" policies as indicators of establishments reasserting standards. "You could see people saying, I mean it's a long way off, maybe 20 years or something, but you might see nice places saying you have to wear a shirt with a collar," Root predicted.
This prediction ties into broader generational dynamics, where Root believes younger generations will eventually rebel against what he calls their "slop parents." He argues that the degradation in dress standards reflects and reinforces broader civilizational decline, from dating culture to workplace productivity. The prediction isn't just about aesthetics but about the return of standards and civility across society. Root sees this as inevitable because "Kids hate what their parents did." suggesting that Gen Z's children will seek differentiation through formality. He emphasized that this shift will require both cultural momentum and economic incentives, as historically, "If you looked bad, your life was worse."
Bitcoin's dominant narrative has fundamentally shifted from "censorship-resistant digital gold" to Wall Street's preferred "uncorrelated financial asset," according to an updated analysis of Bitcoin's evolving identity over 16 years.
The transformation accelerated after MicroStrategy's Michael Saylor began his bitcoin accumulation in 2020, becoming "undisputedly the most important & influential person in Bitcoin." This marks the era of "Paper Bitcoin Summer" where financial exposure trumps actual ownership.
Key narrative shifts since 2018:
The author notes these narratives surprisingly don't compete for blockspace—"pristine asset" holders create minimal transaction demand while Layer 2s and programmable uses drive most activity. However, conflicts may emerge over protocol changes like covenants.
Most striking: Contemporary Bitcoin maximalism ("f*ck you money") is losing ground to "suitcoiners"—financialized Bitcoin advocates. Self-custody and privacy voices are "drowned out by the cacophony of the stampeding herd."
The piece warns Bitcoin may be entering "Eternal September" as corporate interests discover their "infinite money glitch by playing tradfi games."
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