Blain’s Morning Porridge 10th, Sept 2026“So long and thanks for all the fish... Relax and let the world dissolve around you…”If there is a 10% chance AI is going to kill us all, then that’s probably bad news for bond markets. There are a lots of things that threaten us, but fortunately most of them are quite unlikely. A 1 in 10 chance we’re all toast is not. Global markets will probably choose to look the other way, but how would your own investment decisions change if you knew the Terminator is about to knock on the door?Key TakeawaysA 10% extinction risk is the Economic Elephant in the Room – but markets will probably choose not to see it.What is the right response to the threat? Go spend it while you still can!AI risks are probably more significant than any natural threat – including the Zombie apocalypse and JD Vance’s “end of times”.A 10% AI risk may be far higher than it sounds – it’s not a binary Terminator moment, but will be an ongoing process. If it’s a 10% chance of AI Quietus over 5 years, then in 50 years time there is only a 35% probability we are still around!AI Alignment is nonsense – we are too fickle, emotional and destructive to predict or model.You should read more Sci-Fi. Isaac Asimov predicted this would happen 85 years ago, wrote the laws of Robotics and a charming little story about how AI finds religion!Oh dear. Not much point worrying about the 30-year Treasury bond then? If there is a 10% chance that AI is going to destroy humanity... Well, what’s the point…Time to go spend it all.You can read the Morning Porridge by subscribing on ⁠www.morningporridge.com⁠, and have it delivered fresh to your inbox every morning!

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