Introduction
“Can’t cut spending, can’t cut defense, can’t cut debt, go big with tariffs, so only way they can pay for One Big Beautiful Bill is with One Big Beautiful Bubble.”
Hartnett's note this week tells us nothing new. Likely the holiday kept him from saying more. Next week’s write up could be very elaborative on what just happened. But his title—One Big Beautiful Bubble—says enough.
We urge you to listen to the six-minute clip we’ve included as a background to what just happened. It’s from the June 1 Flow Show walkthrough linked here:
In it, we speak of Hartnett’s emerging turn. He had begun to see that cost cuts like DOGE would fail. He seemed to grasp that if they did fail, Trump would have no choice but to spend. And not just spend—spend like there is no tomorrow. We latched onto that and are vindicated one month later as the OBBB just passed.
Below is Hartnett’s July 4th Flow Show without further comment.
