The latest episode of DHUnplugged, titled "Bulls in a Bubble Shop," closes out the first half of 2026 with the S&P 500 up roughly 7.5%, the Dow above 52,000, and AI hardware names surging. Hosts John C. Dvorak and Andrew Horowitz delve into the alleged DRAM price-fixing scheme, a new U.S. antitrust class action against Samsung, SK Hynix, and Micron, which they describe as a "ram job." The plaintiffs allege that the three companies, controlling 90% of DRAM, coordinated supply cuts that drove conventional DRAM prices up roughly 700% over four years, echoing the 2005 price-fixing case where Hynix paid $180 million, Samsung $300 million, and Infineon $160 million.
Horowitz criticizes the newly launched Trump Accounts program, which provides a $1,000 Treasury-funded seed for newborns, calling it a "forced financial literacy experiment wrapped in a political brand name with a socialist starter check to teach capitalism." He also critiques Kevin Hassett's role in the program. Meanwhile, Dvorak warns that AI compute may shift back to the desktop via Nvidia Blackwell-powered mini machines, potentially leaving server farms underutilized and memory prices vulnerable to collapse.
The episode covers other key stories: SpaceX's newly issued investment-grade bonds are already underwater, and its stock joined the Nasdaq 100. Japan's yen weakened to 162 against the dollar, prompting hints of Bank of Japan intervention, a trade Horowitz calls the "widowmaker." PCE inflation climbed to 4.1%, and the Bank for International Settlements flagged AI-boom financial-stability risks. Chevron signed a 20-year data-center power deal with Microsoft for Project Kilby, Comcast announced plans to split off NBCUniversal and Sky, and the Interior Department slashed federal drilling bonds by 95% to $25,000. Wendy's experienced a brief meme-stock spike after CFO Steve Cyrilus arrived from Potbelly, while gold slipped below $4,000 and Bitcoin sank to $58,600.
Horowitz also previews an upcoming Peter Schiff interview on The Disciplined Investor. The episode is available at dhunplugged.com and via Apple Podcasts, Spotify, Amazon Music, and RSS.
