| Dear Friend, Bold initiatives to reform entrenched systems are nothing new. In 1975, Senator William Proxmire launched the Golden Fleece awards to spotlight absurd government spending. A decade later, President Reagan commissioned the Grace Report, identifying over $400 billion in potential savings—most of which Congress promptly ignored. Even Bill Clinton’s 1993 initiative to “reinvent government” made strides, yet systemic inefficiency endured. Today, the headlines are buzzing about the Department of Government Efficiency (DOGE), led by Elon Musk and Vivek Ramaswamy. But DOGE won’t address the deeper, structural issues like America’s debt and bureaucratic inefficiencies, which, once pushed past the point of no return, could set off the crisis I’ve been warning about for years. Sound familiar? This is what cycles do. Crises reset institutions, test ideas, and move investors like us to adapt. The days ahead are going to be rough. They're going to be messy. That’s why, after being closed to new members for two years, I’m sharing with you my personal approach to navigating the crisis ahead through a personal invitation to join Alpha Society. It’s an opportunity to join Ed D’Agostino and me in our tight-knit community, ensuring we’re prepared for what’s next, together, as the world changes in the days ahead. Click here to watch a video message from me and access your invitation. Your preparing for what’s next analyst,
John Mauldin
Co-Founder
P.S. Tomorrow, we’ll be hosting Bruce Mehlman in a special closed-door Alpha Society event. Bruce is a Mauldin favorite, and just one of the many industry giants you’ll get to hear from inside Alpha Society. For more details and to reserve your spot, click here. | 