Jesus Futures Pay 7%
China fights demographic gravity, workers find AI unhelpful, I consider shorting Jesus futures, Americans are increasingly living alone, and we were oversold on corps buying homes.
Welcome to this week’s edition of The Macro Obsession.
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Issue #30 — Week of January 26th, 2026
China Can’t Stop Losing People
Workers Can’t Make Use of ChatGPT
Divine Tail Risk
Living At Home Or Living Alone
We’re Oversold On Institutional Homeownership
China Can’t Stop Losing People
If you haven’t read my core thesis about China, check out “The Other Superpower” (TMO #15). It gets to the core about the changes in the world order, summed up best by this chart:
However, I am also a skeptic of the “China as the new Great Power” argument in general. My primary claim against the other superpower rests in demographics, the decline in China’s working age population coupled with its abysmally low immigration rates creates a natural gravity that I don’t think Beijing can escape from.
Here’s the latest data, showing how badly the ferti…
