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Cake day: September 9th, 2023

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  • They tech companies themselves likely won’t get a bailout, but don’t rule out the Fed warming up the ol’ money printer. All the borrowing for data centers, where do you think they’re borrowing from. Banks, insurance companies, bond investors and private credit funds. Those first two are the key. If a too-big-to-fail bank or insurance company gets jammed up by their own bad loans to hyperscalers, you best believe they’re going to the Fed, hat in hand, asking for another bowl of that sweet, sweet quantitative easing.