Dear Reader,
The Democratic Socialists won big at the polls this election cycle.
They’ve more than tripled their votes in Congress.
And even managed to win the mayor’s office in D.C.
But as terrifying as that is, there’s an EVEN BIGGER threat you should be paying attention to right now.
Frankly, I’m not surprised so many Socialists won.
They’ve pointed out many things that are genuinely wrong right now:
- The middle class is struggling.
- Your dollars aren’t going as far as they used to.
- Big business is in cahoots with the government.
Don’t get me wrong, I’ve spent my whole career warning where Socialism leads.
But fundamentally, these aren’t political problems more handouts will fix.
That’s why I’m stepping forward today.
Because the most dangerous economic force in America right now is EVEN WORSE than Socialism.
It’s managed to quietly take over Washington – long before this election cycle began.
And, based on the results, I’m afraid this will all reach a breaking point in the coming weeks… and have a serious effect on any money you’ve set aside for retirement.
I strongly encourage you to check out my important message, which explains everything you need to know. You can access it free of charge here.
Sincerely,
Dr. Ron Paul
12-Term Former Congressman
Former Presidential Candidate
Washington Insider for Over 50 Years
P.S. I think you’ll agree that one of the most interesting parts of my new video is where I reveal the #1 step Americans can take to protect themselves today from these coming disasters.
Anthropic Is Worth $1.4 Trillion on Paper. The $895 Billion Bill Comes Later.
Anthropic is expected to price its IPO on November 18, 2026 and begin trading on November 19, 2026. The offering is set to be one of the largest in market history, and the demand is real: bankers indicated they expect to raise the share price above the $70 to $78 range announced Tuesday, with the book fully covered when the deal launched.
None of that tells you whether the stock is worth buying. The financials do.
Anthropic’s revenue grew 1,300% year-on-year in the first six months of 2026, reaching $16.3 billion. In the second quarter alone, the company spent $5.6 billion on compute while generating $11.6 billion in revenue, meaning it collected $2.08 for every dollar spent on compute. That ratio is the actual business case. If it holds as scale increases, the margin story works. If compute costs accelerate faster than revenue, it does not.
The headline loss number is not the signal it appears to be. Anthropic recorded a net loss of $80.7 billion for the six months through June, one of the largest half-year losses any company has ever recorded. But $72.4 billion of that came from an accounting charge tied to the change in fair value of convertible notes, derivative liabilities, and SAFEs. On an operating basis, losses narrowed to $693 million for the period, compared with $2.1 billion in the first half of 2025.
The adjusted picture is cleaner, but it is not the one implied by the headline. Anthropic reported adjusted operating income of $2.235 billion in the second quarter of 2026, but adjusted operating income for the full first half of 2026 was $1.618 billion. The company also reported positive operating cash flow of $3.9 billion for the first half of 2026, compared with negative $1.5 billion in the same period a year earlier.
The structural risk is not the current loss. It is what comes next. Anthropic lists about $895 billion in compute and infrastructure commitments in its amended IPO filing. The company projects that computing and infrastructure expenses will eventually settle at 45% to 50% of revenue, supporting a long-term adjusted operating margin of around 35%. Getting from here to there requires sustaining revenue velocity that almost no company has managed once the initial growth curve flattens.
Anthropic will also raise $26 billion via a separate private placement with cornerstone investors including Alphabet’s Google, Nvidia, and AMD, with Broadcom, Micron, Microsoft, and TSMC also participating. Those names matter less as a vote of confidence than as a reminder of who controls the infrastructure Anthropic depends on.
The structure of that placement deserves its own scrutiny. The same suppliers receiving non-voting Class N shares control the infrastructure Anthropic cannot build without them — a conflict institutional investors are quietly pulling apart.
Anthropic plans to sell 825 million Class A common shares on the Nasdaq under the ticker ANT. For many retail investors, the IPO may be the first chance they have to own shares of the company, and even that access will be limited. The stock will open with real momentum behind it. Whether the compute bill eventually consumes the margin that momentum assumes is the bet traders are actually making.
