Milk Road Macro Capitalism Is Dead: EB Tucker Explains the New "Managed Economy" Taking Over Markets
Dec 4, 2025
E.B. Tucker, a veteran investment analyst and author of the Tucker Letter, argues that capitalism has already died, replaced by a managed economy. He discusses how governments use social programs and entertainment to stabilize public sentiment. E.B. warns of potential cyber crises that could bring tighter controls and predicts the rise of a Fed-controlled digital currency. He emphasizes the importance of adapting to AI and shares insights on portfolio construction featuring niche tech and Bitcoin, all while highlighting the exciting possibilities of flying taxis.
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Capitalism Has Been Replaced
- Capitalism as a hands-off market mechanism has effectively ended and been replaced by heavy intervention.
- Markets now value speculative infinite-growth narratives more than measurable profits.
The Economy Is Being Managed
- The managed economy actively calms and controls public sentiment to keep the system functioning.
- Authorities engineer periodic, contained panics and then soothe them to maintain participation in markets.
Position For Crises And Digital Controls
- Expect new crises to be used as catalysts for tighter digital controls and new financial infrastructure.
- Position into areas like cybersecurity and resilient digital infrastructure ahead of those shifts.
