The Morning Sixpack - July 18, 2025
Perplexity’s $18B AI boom fuels bubble fears as Fed warns labor market weakens, Colbert’s Late Show canceled, and Obamacare premiums surge. Oh, and a "bawdy" letter from Trump to Epstein surfaces.
Trump’s Bawdy Birthday Letter to Epstein Surfaces in Secret 2003 Album
A racy letter from Donald Trump to Jeffrey Epstein was included in a leather-bound birthday album compiled by Ghislaine Maxwell, stirring the pot amid ongoing Epstein file controversies.
Back in 2003, Jeffrey Epstein’s 50th birthday was marked by a rather unique gift: a compiled album of letters from friends and associates, including a risque note from Donald Trump. The letter, reviewed by The Wall Street Journal, features a typewritten message framed by a crude hand-drawn outline of a naked woman and a signature with Trump’s characteristic “heartbeat” signature placed suggestively below her waist (you know, like pubic hair, which neither man had seen since 1956). The letter ends with, “Happy Birthday—and may every day be another wonderful secret.”
Trump has vehemently denied authorship, calling the letter a “fake thing” and threatening to sue the Journal for publishing it. He insists, “I never wrote a picture in my life. I don’t draw pictures of women,” dismissing the letter’s language as not his own.
Well, I’ve never wrote a picture of anything either.
The album, assembled by Maxwell before Epstein’s 2006 arrest, contains letters from various high-profile figures, including billionaire Leslie Wexner and attorney Alan Dershowitz, alongside personal memorabilia. Epstein and Trump’s past association—once described by Trump as knowing Epstein “like everybody in Palm Beach knew him”—has long been under scrutiny, especially as Epstein’s criminal investigations and subsequent death unfolded.
While the Justice Department and FBI have stayed mum on the album’s role in their current Epstein file reviews, the release of such material fuels the already heated debate around Epstein’s connections and the Trump administration’s handling of the documents. Trump recently dismissed the Epstein files as a “hoax” and criticized questions about Epstein at a cabinet meeting as a waste of time.
Source: WSJ gift article
Trump’s denials here sound like a politician literally caught with his pants down.
And within a couple hours, dozens of Trump “wrote” pictures surfaced. The image at the top is a sampling of all the pictures Donald Trump “wrote.” It’s a verifiable FACT. He’s a fucking liar.
Trump “Demands” Release of Epstein Files Amid Growing GOP Pushback
Donald Trump ordered his attorney general to release all “pertinent” documents on Jeffrey Epstein—but his own party isn’t ready to drop the Epstein story anytime soon.
The president’s directive to unseal Epstein-related files comes as fresh details, including a 2003 “bawdy” letter Trump allegedly sent to Epstein, continue to surface. Trump denies writing the letter and has threatened to sue over its publication, calling it a “fake thing.” Yet the controversy keeps gnawing at the MAGA base and Washington alike.
Despite Trump labeling the Epstein coverage as “ridiculous” and urging everyone to move on, Republican frustration is mounting. One GOP congressman admitted he was “as curious as everybody else,” signaling bipartisan appetite to dig deeper. According to Semafor, Trump’s attempts to deflect attention may actually be fueling more scrutiny within his own ranks.
This isn’t just another political distraction—it’s turning into a headache that’s refusing to go away. Trump’s move to release the files feels more like damage control than transparency, and his party’s growing unwillingness to let the issue fade suggests the Epstein saga will remain a thorn in his side.
Source: Semafor
Honestly, Trump ordering the release looks like a last-ditch effort to control the narrative, but when your own team isn’t buying it, you know you’re in trouble. This Epstein drama is sticking around like a bad Trump diaper-filled smell—no amount of “move on” will air it out anytime soon.
And don’t be surprised when Trump isn’t mentioned in any of the Epstein files. They’ve had MONTHS to scrub the data.
EDIT: I fucking told you! FBI told to tag any Epstein files Trump is mentioned in.
But for now, let’s just agree that Trump Always Chickens Out (TACO) Again!
Obamacare Premiums Set to Spike: Insurers Seek Double-Digit Hikes in 2026
If you buy your own health insurance, brace yourself—next year’s premiums for Affordable Care Act plans are headed way up.
Major insurers like Blue Cross & Blue Shield of Illinois and Texas are pushing for premium increases of 20% or more, with Illinois asking for a staggering 27% hike. These increases come amid rising healthcare costs, changes in federal subsidies, and a shrinking enrollment pool expected to be sicker on average—meaning more expensive claims to cover.
The end of enhanced subsidies passed during the pandemic is hitting consumers hard, forcing many to pay bigger monthly bills while losing financial help that once softened the blow. Clare Forry, a Blue Cross customer in Illinois, puts it bluntly: “That’s some people’s mortgage payments.”
Insurers point to factors such as more emergency room visits, costly drugs, and increased use of behavioral health services to justify their price hikes. But the looming double whammy—higher premiums coupled with reduced subsidies—means millions face serious sticker shock next year.
This premium surge is shaping up to be the steepest in years, threatening to make Obamacare plans less affordable just as the marketplace tightens enrollment rules. For many, the choice may become painful: Pay more or go without coverage.
Source: WSJ gift article
Look, no sugarcoating here: health insurance costs have been climbing for years, but this next wave of premium spikes could be a gut punch for many families. It’s the classic "you get what you pay for" dilemma—except now you’re paying more for less help. If you’re in the ACA market, prepare your wallet, because the premium party isn’t slowing down anytime soon.
Stephen Colbert’s ‘Late Show’ Gets the Axe
After a decade of sharp political satire and relentless Trump takedowns, Stephen Colbert’s ‘Late Show’ is ending on CBS—cancelled not for ratings, but money.
Colbert broke the news to his live audience that next season will be the last, leaving fans groaning and booing at the Ed Sullivan Theater. Despite being a ratings winner and Emmy nominee, CBS and Paramount cite financial struggles in late-night TV as the reason, claiming the decision isn’t about the show’s content or performance.
I call bullshit.
This cancellation comes hot on the heels of Colbert’s scathing criticism of a $16 million settlement between CBS’s parent company and Donald Trump, which Colbert dubbed a “big fat bribe.” Trump sued over a “60 Minutes” segment that aired an edited interview with Kamala Harris, and many see the settlement as a move to smooth the way for Paramount’s sale to Skydance Media.
CBS & Paramount are the cowards who caved to Trump’s silly lawsuit that he absolutely would have lost had it gone to a jury trial.
Politicians like Senators Adam Schiff and Elizabeth Warren are already demanding transparency on whether politics played a role in the shutdown, while fellow late-night hosts and actors are rallying behind Colbert, warning this is an attempt to silence voices that hold power accountable.
CBS lies about how economics forced their hand, but anyone paying attention knows this feels a lot like a strategic retreat from tough political commentary in a shifting media landscape. The ‘Late Show’ wasn’t just TV—it was a cultural lightning rod, and its disappearance leaves a serious void. This is all part of the authoritarian playbook.
Source: AP News
Fed’s Christopher Waller Sounds Alarm: Labor Market Is Weaker Than You Think—Cut Rates Now
Fed Governor Christopher Waller is making a bold call: The labor market is flashing red, and it’s time for the Fed to cut interest rates this month before it’s too late.
Speaking to a crowd of economists, Waller argued that job growth has slowed to near stall speed and the risks to employment are rising, even though most Fed officials still see the labor market as healthy. He’s ready to push for an immediate rate cut, going against the grain of his colleagues who want to wait on inflation data.
Waller also downplayed inflation worries tied to tariffs, saying these price hikes are one-time bumps, not ongoing spirals, with importers and foreign suppliers absorbing much of the cost rather than American consumers. Sure buddy.
According to him, underlying inflation is close to the Fed’s 2% target once tariffs are stripped out. But you can’t strip out the tariffs. They are permanent (until Trump TACOs).
Unlike President Trump, who wants deep cuts but not because he thinks the economy is weakening, Waller’s argument is grounded in data showing private-sector jobs growth hitting its slowest pace since late 2024. Late 2024 was seven months ago.
He’s also open to another quarter-point cut later this year if the economy stays sluggish but inflation remains contained.
Bottom line? Waller is waving a yellow caution flag that the Fed should act now rather than risk falling behind the curve.
Source: MarketWatch gift article
Waller is gunning for Powell’s job. Let’s be clear about that.
AI Frenzy Hits the Stratosphere: Perplexity’s $18 Billion Valuation Sparks Bubble Alarm
Perplexity’s skyrocketing valuation—from $500 million in January to $18 billion today—is fueling serious fears that the AI boom is turning into a full-blown bubble.
The artificial intelligence search engine just closed a funding round that catapulted its worth into the stratosphere, intensifying concerns among market watchers that the tech sector might be overheating. Torsten Sløk, chief economist at Apollo, warns that the S&P 500’s largest companies are “more overvalued than they were in the 1990s,” hinting at a bubble reminiscent of the dotcom era.
The dot-com crash wiped out $5 trillion in market value and sent shockwaves through the economy, but it didn’t kill the internet—it reset expectations and paved the way for the tech giants that followed. So even if we’re headed for an AI bubble burst, the underlying technology will still matter. But remember that it took the NASDAQ FIFTEEN YEARS to get to where it was at its peak in March 2000.
That said, valuations like Perplexity’s don’t come out of nowhere, and this runaway fundraising frenzy raises the stakes for investors and innovators alike. The question isn’t just if the bubble will burst—it’s how much collateral damage it might cause when it does.
If you’re watching the AI space, buckle up. This roller coaster isn’t slowing down anytime soon, and history suggests it won’t be a smooth ride. It will be interesting to see if it “tracks” Bitcoin’s up-and-down journey.
Source: Semafor
Look, hype-driven valuations are nothing new in tech, but jumping from half a billion to $18 billion in six months is a rocket launch that sets off alarm bells. AI is transformative, no doubt—but when money flows this fast and furiously, caution is the name of the game. The dot-com crash should remind us all: Bubbles always burst.