The week of September 14, 2026, was supposed to be a bloodbath. A hot PPI. A hot CPI. An Anthropic researcher claiming a greater-than-10% chance AI wipes out humanity. Calls to pause AI development. Brent crude touching $110. The 10-year Treasury yield at its highest since 2007. A hawkish Fed hike. And yet S&P futures finished the week down only about 30 basis points. Jordi Visser, a macro investor who runs an AI thematic portfolio and a 46-name crypto index, has a blunt explanation for the non-event: the bear case is broken.

“All these stories that you’re hearing about debt, about crashes, about that. It’s all BS. It’s all meant to scare you,” Visser said on his podcast, The Bigger Picture. The growth engine of the modern economy, he…