Scott Douglas Jacobsen reports Japan has selected its first female prime minister, Sanae Takaichi. Rosner welcomes the milestone but flags her nationalist profile. He pivots to the U.S. No Kings protests, citing multimillion turnout estimates and criticizing Trump’s vulgar AI video response. Rick Rosner characterizes prosecutions of critics—Letitia James, James Comey, John Bolton—as politically motivated; he views the case against James as weak, with Bolton potentially exposed on handling classified material. Comey seeks dismissal as vindictive. Shifting to markets, Rosner warns AI valuations are frothy, driven by a few giants, and predicts a dot-com-style correction within the year before durable, real-economy applications emerge.