# This Feels Like the Final Stage

Page: https://stenobird.com/podcast/know-your-risk-podcast-218898/this-feels-like-the-final-stage
Text version: https://stenobird.com/podcast/know-your-risk-podcast-218898/this-feels-like-the-final-stage.md
Podcast: [Know Your Risk Podcast](https://stenobird.com/podcast/know-your-risk-podcast-218898)
Published: 2026-05-26T21:19:21+00:00
Episode link: https://www.spreaker.com/episode/this-feels-like-the-final-stage--72175704
Audio file: https://api.spreaker.com/download/episode/72175704/kyr_podcas_5_26.mp3
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JSON: https://stenobird.com/v1/public/podcasts/know-your-risk-podcast-218898/episodes/this-feels-like-the-final-stage
Duration seconds: 2886

## Resource

May 26, 2026 - Zach and Chase discuss why the current market setup is beginning to resemble the late stages of a speculative blow-off while the underlying energy system continues deteriorating underneath. They break down the massive rally in semiconductors and AI infrastructure stocks, why memory-chip pricing may be dangerously disconnected from reality, and why markets continue dismissing what they believe is the largest energy disruption in modern history. They also discuss oil market mechanics, futures positioning, inflation risks, housing affordability, monetary policy distortions, and why years of financialization may have disconnected markets from physical reality itself.

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## Transcript

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