“You say it is love that feeds us,” Hades said on Mount Olympus at the meeting of the Greek gods1. “But you depend on their love. I’ve only learned to live on their fear, their pain.”
Poseidon said, “Zeus, our brother speaks the truth. Hear him.”
“Go,” says Zeus. “Do what you will.”
“Father, we need the mortals,” Apollo interjects.
“No, Apollo. Hades is right. Their insolence has a price. Like children they need to be reminded of the order of things. Set an example, brother. Turn them on each other, and back into our arms.”
I admit I’ve always been partial to the 1981 Harry Hamlin-as-Perseus version of the Clash of the Titans. I had nightmares as a kid about being him in that dark labyrinth facing, or rather, trying not to face Medusa as she slithered between the columns. In my dreams I always failed and experienced the shocking horror of seeing her face, and I remember almost feeling real cracking pain as I became stone and would wake up in a sweat. But this 2010 version of the conversation between the Greek gods as they debated the fate of mankind rekindled in my mind as I read the headline today about the group of power headed over to China to meet with Hades, err … Xi Jianping.
The gathering in Beijing includes all the “gods” of industry and politics and the conversation at the top of this is conspiracy-level stuff. But while we’re poking fun at our leaders’ expense, let’s see who’s who here at this mighty council: we’ve got Jensen Huang, CEO of Nvidia. The power that he wields over technology in the world and kingmaker of all things AI will likely last longer than Trump, so I would fashion him as a modern-day Zeus. Trump with his US Naval Blockade and recent sea-dominance over Venezuela would surely come is as Poseidon here. Elon Musk, the only other CEO alongside Jensen and Trump on Air Force One2 and notable energy harnesser, must be Apollo. Other than that, you have a bunch of no-name hangers-on, like the CEO of Apple Tim Cook, BlackRock’s Larry Fink, Blackstone’s Stephen Schwarzman, Boeing’s Kelly Ortberg (Hermes?), Cargill’s Brian Sikes, Citibank’s Jane Fraser (Athena?), GE Aerospace’s Larry Culp (Ares?) and David Solomon of Goldman Sachs. There are quite a few more.
Assign whichever of the Greek god status to whatever CEO you want, it’s hard to debate one point – the absolute most powerful people in the world are gathering today to discuss the future of mankind. If the admittedly silly idea of assigning them Greek godlike powers offends you remember we’re just having fun here. But the power these few people wield is very real. The conversations this week in Beijing may have a major impact on our world over the next few years.
If we extend the analogy what then is the Kraken? That’s an easy one really. It’s AI and both the leaders US and China as well as CEOs Jensen Huang, Elon Musk and Tim Cook, who have monetary and political reasons to unleash the beast in full form on the world. They’re likely to be loud voices in the room pushing fewer restrictions on AI development. I’ve alluded to this Kraken in previous reports and how the AI accelerationists are a lot more funded than the opposing group, and a lot more AI “safety” workers seem to have worked themselves out of a job, whether by their own accord or that of their companies. (See Open AI headlines).
There are many positive things that could emerge from this conference for oil prices, US farmers, the conflict in Iran, the status of Taiwan and the overall level of economic cooperation between the countries. Those CEOs are not there without a purpose. If you’re of the pessimistic mindset, this meeting of modern-day gods of industry and politics could not really come at a worse time for the economy. It’s been called a “K-shape” economy. The rich are getting richer and their standard of living has not been shaken while the middle-class and poor suffer increasingly more. I’m not trying to ignite a class war here, as our business by nature works with the have’s. But there are increasing data points emerging about this phenomenon lately that appear to be setting up a return to previous pain, and here are the most important four:
- Inflation is back (or likely will be very soon), and so are the expectations that the Fed will actually have to raise rates. A year from now, according to the CME Fed Watch Tool, over 50% believe that interest rates will be at least a quarter-point higher.3 Poor Kevin Warsh, the incoming Fed chairman as of Wednesday, who has intimated more than once that he will help lower rates. Looks like he joined up at the wrong time! We’ll get to see if there’s truth behind whether the appointment is all political and he’ll go against the grain of data points or he’ll look at the situation impartially. The PPI, the Producer Price Index – a wholesale price report and harbinger of the prices consumers will pay in a few months, was just released and it was a huge reality check. The PPI was up 6% year over year for April4. For consumers in the lower brackets of income and assets that is slightly terrifying news. Inflation is Typhon, the most menacing of all the anti-heroes.
- There’s now a record $18 trillion in US household debt5. That debt total is $4.6 trillion higher just since January of 2020. Oof. Painful. Mortgage debt is up $21 billion to $1.3 trillion. Auto loans are at an all-time high. Some silver lining is that credit card debt is down a little. It’s still makes for the 2nd highest reading ever. The first? The 2008 Great Financial Crisis.
- The specter of the 10-year Treasury Yield has awakened as the stealthy goddess of night, Nyx, who made even Zeus back away from her cave for fear of angering her. It crested 4.47% this week. Seemingly every time the rate has approached 4.45% we’ve had some kind of news emanating out of Washington that relieved markets. That hasn’t happened yet with this rise and makes me a little concerned that Trump’s news release yo-yo has stopped functioning with respect to its effect on the markets. This rate impacts so much and worsens a frozen housing market where many homeowners are bound in place by their sub 4% mortgages while prices rise on top of interest rates ticking higher. There’s an affordability crisis that’s not a new phenomenon so increasing pricing pressure ever higher must be exasperating for young would-be homeowners who find their American Dream ascending like a hot-air balloon that’s left them on the ground.
- Oil prices are up, so gas prices are up. Some things are not complicated. I spent $90 to fill up my Tahoe the other day. It could get worse if the Strait of Hormuz isn’t opened up in the next month or two. We all know this, but combining this with the first 3 factors above creates a pressure cooker for those in the lower income brackets and more than a nuisance for those in the higher echelons trying to figure out how much money is really going to take to retire.
Our Investment Committee is getting proactive fighting Typhon (inflation) and Nyx (interest rates) and recognizing that we need even our Monthly Cashflow Portfolios to have more potential to grow. With that in mind we’ve added a growth ETF to the mix of the Monthly Cashflow Equity portfolio. While this move does slightly reduce income it empowers the portfolio to have the potential to grow over the decades, especially if withdrawals are confined to the distribution yield. We don’t want the principal value to be at all stagnant while battling Typhon year in and year out. If we can achieve some growth, while giving you the income you need (the yield is still a very high percentage compared to typical dividend ETFs out there), then we’re closer to solving the two of the most important issues retirees face.
Despite all the negative news, the stock market is at all-time highs, led by the AI supply chain running over everything in its path.6 Know that as geopolitical risks and valuations increase, caution is warranted, but computer science and materials innovation is winning the day, for now.
I’m making myself sick talking about Greek gods and goddesses. Note the small “g” there. I’m going back to talk about the Christian Values Portfolios next week to get rid of the “ick”. But while the world powers gather elsewhere, we’re focused on you and your plans, so hopefully at the end of it all, you’ll have at least two coins for the ferryman. Ugh … I’ll stop now! Remember, if you listen to us, we’ll change your financial world …
Sincerely,
Scott Wright
Lowly Mortal
The Wealth Training Academy
(Marketing Disclaimer: Investing advice is provided by Idle Hill Advisors, LLC, an SEC Registered Investment Adviser. Past performance is never a guarantee of future results. We offer a lot of services. Our planning, tax, and insurance strategies are designed to improve financial outcomes when implemented as recommended. We’re confident in these strategies, but results will vary based on individual circumstances. Investment results cannot be guaranteed. Unless otherwise indicated, no third party individuals mentioned in this article are clients of our firm, nor have they been compensated for appearing. This article is for educational purposes only – we do not recommend anyone buy or sell any security discussed here. Instead, we recommend readers call our office for personal advice about your circumstances! ~The Compliance Department.)
Sources:
1Clash of the Titans – Meeting of The Gods (HD) – YouTube
2Elon Musk, Jensen Huang Join Air Force One for Trump’s Trip to China – Business Insider
4PPI inflation report April 2026:
5@KobessiLetter
