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Live from the Morgan Stanley Global Consumer & Retail Conference, our analysts discuss how AI is reshaping the future of shopping in the U.S.Read more insights from Morgan Stanley.----- Transcript -----Michelle Weaver: Welcome to Thoughts on the Market. We're coming to you live from Morgan Stanley's Global Consumer and Retail Conference in New York City, where we have more than 120 leading companies in attendance. Today's episode is the second part of our live discussion of the U.S. consumer and how AI is changing consumer companies. With me on stage, we have Arunima Sinha from the Global and U.S. Economics team, Simeon Guttman, our U.S. Hardlines, Broad Lines, and Food Retail Analyst, and Megan Clap, U.S. Food Producers and Leisure Analyst. It's Friday, December 5th at 10am in New York. So, Simeon, I want to start with you. You recently put out a piece assessing the AI race. Can you take us through how you're assessing current AI implementation? And can you give us some real-world examples of what it looks like when a company significantly integrates AI into their business? Simeon Gutman: Sure. So, the Consumer Discretionary and Staples teams went to each of their covered companies, and we started searching for what those companies have disclosed and communicated regarding their AI. In some cases, we used AI to do this search. But we created a search and created this universe of factors and different ways AI is being implemented. We didn't have a framework until we had the entire universe of all of these AI use cases. Once we did, then we were able to compartmentalize them. And the different groups; we came up with six groups that we were able to cluster. First, personalization and refined search; second, customer acquisition; third product innovation; fourth, labor productivity; fifth, supply chain and logistics. And lastly, inventory management. And using that framework, we were able to rank companies on a 1 to 10 scale. Across – that was the implementation part – across three different dimensions: breadth, how widely the AI is deployed across those categories; the depth, the quality, which we did our best to be able to interpret. And then the last one was proprietary initiatives. So, that's partnerships, could be with leading AI firms. So that helped us differentiate the leaders with others, not necessarily laggards, but those who were ahead of in the race. In some cases, companies that have communicated more would naturally scream more, so there is some potential bias in that. But otherwise, the fact pattern was objective. Walmart has full scale AI deployment. They're integrated across their business. They've introduced GenAI tools. That's like their Sparky shopping assistant. As well as integrated to in-store features. They talked about it. It's been driving a 25 percent increase in average shopper spend. They've recently partnered with OpenAI to enable ChatGPT powered Search and Checkout, positioning where the company, where the customer is shopping. They're also layering on augmented reality for holiday shopping, computer vision for shelf monitoring. LLMs for inventory replenishment. Autonomous lifts, the list goes on and on. But it covers all the functional categories in our framework. Michelle Weaver: And how about a couple examples of the ways companies are using these? Any interesting real world use cases you've seen so far? Simeon Gutman: So, one of them was in marketing personalization, as well as in product cataloging. That was one of the more sided themes at this conference. So, it was good timing. So, the idea is when product is staged on a company's website; I don't think we all appreciate how much time and many hours and people and resources it takes to get the correct information, to get the right pictures and to show all the assortment – those type of functions AI is helping enable. And it sounds like we're on the cusp of a step change in personalization. It sounds like AI, machine learning or algorithm driven suggestions to consumers. We didn't get practical use cases, but a lot of companies talked about the deployment of this into 2026, which sounds like it's something to look forward to. Michelle Weaver: And Megan, how would you describe AI adoption in your space in terms of innings and what kind of criteria are you using to assess the future for AI opportunity and potential? Megan Clapp: Yeah, I would say; I'd characterize adoption in the Food and broader Staples space today is still relatively early innings. I think most companies are still standing up the data infrastructure, experimenting with various tools. We're seeing companies pilot early use cases and start to talk about them, and that was evident in the work we did with the note that Simeon just talked about. And so, the opportunity, I think, going ahead, lies in kind of what we see in terms of scaling those pilots to become more impactful. And for Staples broadly, and Food, you know, ties into this. I think, these companies start with an advantage and that they sit on a tremendous amount of high frequency consumption data. So, the data availability is quite large. The question now is, you know, can these large organizations move with speed and translate that data into action? And that's something that we're focused on when we think about feasibility. I think we think about the opportunity for Food and Staples broadly as we'd put it into kind of two areas. One is what can they do on the top line? Marketing, innovation, R&D, kind of the lifeblood of CPG companies, and that's where we're seeing a lot of the early use cases. I think ultimately that will be the most important driver – driving top line, you know, tends to be the most important thing in most consumer companies. But then on the other side, there are a lot of cost efforts, supply chain savings, labor productivity. Those are honestly a bit easier to quantify. And we're seeing real tangible things come out of that. But overall I think the way we think about it is the large companies with scale and the ability to go after the opportunity because they have the scale and the balance sheet to do so – will be winners here, as well as the smaller, more nimble companies that, you know, can move a little bit faster. And so that's how we're thinking about the opportunity. Michelle Weaver: Can you give us also just a couple examples of AI adoption that's been successful that you've seen so far? Megan Clapp: Yeah, so on the top line side, like I said, kind of marketing innovation, R&D. One quick example on the Food side. Hershey, for example, they're using algorithms to reallocate advertising spend by zip code, based on the real time sell through. So, they can just be much more targeted and more efficient, honestly, with that advertising spend. I think from an innovation perspective too, these companies are able to identify on trend things faster and incorporate that and take the idea to shelf time down significantly. And then on the cost side, you know, General Mills is a company is actually relatively, far ahead, I'd say, in the AI adoption curve in Staples broadly. And what they've done is deployed what they call digital twins across their network, and it has improved forecast accuracy. They've taken their historical productivity savings from 4 percent annually to 5 percent. That's something that's structural. So, seeing real tangible benefits that are showing up in the PNL. And so, I think broadly the theme is these companies are using AI to make faster, and more precise decisions. And then I thought, I'd just mention on the leisure side, something that I felt was interesting that we learned from Shark Ninja yesterday at the conference is – when asked about the role of Agentic AI in future commerce, thinks it'll be huge was how he described; the CEO described it. And what they're doing actively right now is optimizing their D2C website for LLMs like ChatGPT and Gemini. And his point was that what drives conversion on D2C today may not ultimately be what ranks on AI driven search. But he said the expectation is that by Christmas of next year, commerce via these AI platforms will be meaningful; mentioned that OpenAI is already experimenting with curated product transactions. So, they're really focused on optimizing their portfolio. He thinks brands will win; but you have got to get ahead of it as well. Michelle Weaver: And that's great that you just brought up Agentic commerce. We've heard about it quite a bit over the past couple of days, Simeon. And I know you recently put out a big piece on this theme. Agentic commerce introduces a lot of possibility for incremental sales, but it also introduces the possibility for cannibalization. Where do you see this shaking out in your space? Are you really concerned about that cannibalization possibility? Simeon Gutman: Yeah, so the larger debate is a little bit of sales cannibalization and a potential bit of retail media cannibalization. So, your first point is Agentic theoretically opens up a bigger e-commerce penetration and just more commerce. And once you go to more e-commerce, that could be beneficial for some of these companies. We can also put the counter argument of when e-commerce came, direct-to-consumer type of selling could disintermediate the captive retailer sales again. Maybe, maybe not. Part of this answer is we created a framework to think about what retailers can protect themselves most from this. Two of them; two of the five I's are infrastructure and inventory. So, the more that your inventory is forward position, the more infrastructure you have; the AI and the agent will still prioritize that retailer within that network. That business will likely not go elsewhere. And that's our premise. Now, retail media is a different can of worms. We don't know what models are going to look like. How this interaction will take place? We don't know who controls the data. The transactions part of this conference is we were hearing, ‘Well, the retailers are going to control some of the data and the transaction.' Will consumers feel comfortable giving personal information, credit card to agents? I'm sure at some point we'll feel comfortable, but there are these inertia points and these are models that are getting worked out today. There's incentives for the hyperscalers to be part of this. There's incentive for the retailers to be part of it. But we ultimately don't know. What we do know is though forward position inventory is still going to win that agent's business if you need to get merchandise quickly, efficiently. And if it's a lot of merchandise at once. Think about the largest platforms that have been investing in long tail of product and speed to getting it to that consumer. Michelle Weaver: And Arunima, I want to bring this back to the macro as well. As AI adoption starts to ramp the labor market then starts to get called into question. Is this going to be automation or is it going to be augmentation as you see a ramp in AI adoption? So how are your expectations for AI being factored into your forecast and what are you expecting there? Arunima Sinha: There are two ways that we think about just sort of AI spending mattering for our growth forecasts. One part is literally the spend, the investment in the data centers and the chips and so on. And then the other is just the rise in productivity. So, does the labor or does the human capital become more productive? And if we sum both of those things together, we think that over 2026 – [20]27, they add anywhere between 40-45 basis points to growth. And just to put things in perspective, our GDP growth estimate for the end of this year in 2026 is 1.8 percent. For 2027, it's 2.0 percent. So, it's an important part of that process. In terms of the labor market itself, the work that you have led, as well as the work that we've been doing – which is this question about adoption at the macro level, that's still fairly low. We look at the census data that tracks larger companies or mid-size companies on a monthly basis to say, ‘How much did you use AI tools in the last couple of weeks.' And that's been slowly increasing, but it's still sort of in the mid-teens in terms of how many companies have been using as a percentage. And so, we think that adoption should continue to increase. And as that does, for now, we think it is going to be a compliment to labor. Although there are some cohorts within sort of demographic cohorts in terms of ages that are probably going to be disproportionately impacted, but we don't think that that's a sort of near term 2026 story. Michelle Weaver:  Well, thank you all for joining us and please follow Thoughts on the Market wherever you listen to podcasts. Thank you to our panel participants for this engaging discussion and to our live and podcast audiences. Thanks for listening. If you enjoy Thoughts on the Market, please leave us a review wherever you listen and share the podcast with a friend or colleague today.

This episode is brought to you by Cozy Earth, one of HeHe's all-time favorite ways to stay cozy during pregnancy and postpartum. Their ultra-soft PJs, loungewear, and sheets make those long nights and lazy days feel a little more luxurious — and they're a simple way to detox your home while you're at it! Right now, you can use code HEHE to stack up to 40% off holiday sale prices on anything from dreamy PJs to new sheets: https://cozyearth.com/ Understanding Epidurals: Everything You Need to Know with Marissa Mulder of Sassy Anesthesia In this episode of The Birth Lounge Podcast, HeHe dives into the real talk on epidurals with Marissa Mulder, a Certified Registered Nurse Anesthetist (CRNA) and the brain behind the popular Instagram account Sassy Anesthesia. They break down why every labor is unique (so stop comparing yourself to everyone else!) and go step by step through the epidural process — the risks, benefits, pros, cons, and the myths you've probably heard. Plus, they cover the difference between epidurals and spinals, how to advocate for a birth experience that truly works for you, and how tools like the Birth Lounge App can give you bite-sized, evidence-based education to feel confident from pregnancy through postpartum. Whether you plan to use an epidural or not, this episode is packed with the knowledge and empowerment every parent deserves. 00:00 Introduction and Personal Advice on Epidurals 01:00 Welcome to The Birth Lounge Podcast 01:53 Introducing The Birth Lounge App 02:10 Features and Benefits of The Birth Lounge App 05:21 Today's Topic: All About Epidurals 05:54 Guest Introduction: Marissa Mulder, CRNA 06:54 Epidural FAQs and Common Concerns 10:41 Epidural Placement and Procedure 30:03 Medications Used in Epidurals 36:49 Postpartum Comfort: Cozy Earth's Bamboo Jogger Sets 40:20 Eating and Drinking During Labor: What's the Risk? 42:54 The Importance of Honesty with Hospital Staff 43:55 Why Partners Might Be Asked to Leave During Epidural Placement 48:36 Adjusting Your Epidural: What You Need to Know 51:53 Epidurals and Labor Progression: Myths and Facts 58:40 Epidural Risks and Benefits Explained 01:01:56 Spinal vs. Epidural: What's the Difference? 01:09:53 Emotional Aspects of Choosing an Epidural 01:13:59 Final Thoughts and Where to Find More Information   Guest Bio: Marissa is a CRNA and first time mama to a busy 5 month old and can be found on insta & tiktok at @sassyanesthesia .  SOCIAL MEDIA: Connect with HeHe on Instagram  Connect with Marissa on Instagram    BIRTH EDUCATION: Join The Birth Lounge for judgment-free, evidence-based childbirth education that shows you exactly how to navigate hospital policies, avoid unnecessary interventions, and have a trauma-free labor experience, all while feeling wildly supported every step of the way Want prep delivered straight to your phone? Download The Birth Lounge App for bite-sized birth and postpartum tools you can use anytime, anywhere. And if you haven't grabbed it yet… Snag my free Pitocin Guide to understand the risks, benefits, and red flags your provider may not be telling you about, so you can make informed, powerful decisions in labor. Learn how to stay in control of your birth and reduce the risk of unnecessary interventions in our Avoid a C-Section Webinar. HeHe breaks down the cascade of interventions, explains what's really happening in the hospital, and shares practical strategies to protect your birth plan, advocate for yourself, and navigate labor with confidence. Perfect for anyone who wants a positive, informed hospital birth experience. Feeling nervous about speaking up in labor? Our Scripts for Advocacy give you the exact words to handle the most common conversations that can make or break your birth experience. From declining unnecessary interventions to asking the right questions about procedures, these scripts empower you to stay in control, speak confidently, and protect your birth plan — even when the pressure is on. Think of it as your personal toolkit for advocating like a pro, so you can focus on your baby, not the stress.

Live from the Morgan Stanley Global Consumer & Retail Conference in New York, our analysts discuss the latest macro trends and pressures impacting the U.S. consumer.Read more insights from Morgan Stanley.----- Transcript -----Michelle Weaver: Welcome to Thoughts on the Market. We're coming to you live from Morgan Stanley's Global Consumer and Retail Conference in New York City, where we have more than 120 leading companies in attendance. Today's episode is the first in a two-part special focused on the consumer where we'll focus on the K economy and the health of the U.S. Consumer. Tomorrow for the next episode, we'll turn our attention to AI. My colleagues and I are eager to dig into this discussion. With me on stage, we have Arunima Sinha from the Global and U.S. Economics team, Simeon Guttman, our U.S. Hardlines, Broad Lines, and Food Retail Analyst, and Megan Clap, U.S. Food Producers and Leisure Analyst.It's Thursday, December 4th at 10:00 AM in New York. So, to start, I want to go through the health of the consumer. That's of course been a theme that's been on display at the conference today. And 2025 has really been a year of mixed signals. But overall spending has held up while inflation has weighed on confidence, especially among lower- and middle-income households. Arunima, I want to start with you on the macro front as we head into year end. How would you describe the overall state of the consumer? What are you expecting in terms of real wage growth and spending? Arunima Sinha: If we'll just look at the rearview mirror in terms of Q1 through Q3, this year spending growth on a real basis has been holding up. So, in the first half of this year, about 1.5 percent on average. For the third quarter, given the data that we do now have in hand, we're tracking about 3 percent, quarter-on-quarter, on a real basis. But I think it is important to emphasize that this is already a step down than the numbers that we were seeing last year. So, in 2024 on these Q-on-Q numbers, we were running somewhere between 3.9-4 percent. So there already has been some slowdown. The recurring theme that we've had this year is how are the drivers of consumption going to weigh on different cohorts? And so, how is the labor market going away and how are wealth effects going to play out? And that, sort of, tied in squarely with the narrative that we've been emphasizing this whole year, which is that for the upper income cohorts, those net wealth effects have been very, very supportive. $50 trillion in net wealth that's been created just over the last three years. And that has continued for this year as well. And so, meanwhile the labor market has downshifted and that's had a read through into both just nominal wage growth as well as real wage growth. So, for example, on a three-month, three-month basis, that real wage growth, after we've adjusted for the nominal for inflation, has slowed down essentially to stall speed. It used to run, somewhere between 2-2.5 percent, in the first part of this year. And that we think is going to have a read through as we go into this upcoming quarter of Q4, as well as in the first quarter of next year. So just this lagged effect from the slowdown on labor market income is going to weigh; continue to weigh on the middle-income and sort of the upper-, lower- part of the income cohort. So, in terms of our growth forecasts for spending, over this quarter in Q4 and over next quarter in Q1, we are expecting about 1 percent real growth for consumption. That is a two-percentage point step down from where we were in Q3. And then just in terms of disposable income, we're also thinking this particular quarter in Q4 is going to be fairly weak. Michelle Weaver: You spoke a little bit about the different income cohorts there, but I want to double click on that. The K economy has been a really persistent theme as higher income households have benefited from strong market returns. But higher price levels have weighed on lower-income households. What are your expectations for the high versus low-income consumer next year? Arunima Sinha: So next year, we do think that there could be some broadening out in consumption growth. Just overall we have a sequential step up in growth that begins to take place, starting in the second quarter of [20]26. So, we have consumption growth that starts to slowly inch up from about just under 1 percent in the first quarter of [20]26 – all the way up to about 2 percent by the end of the year. What that's going to be driven by, we think that there are going to be some lessening of pressures on the middle-income cohorts. And where is that going to come from? It's going to come from perhaps a still moderate labor market. So, we're not – we don't think we're going to be seeing these big 100,000-150,000 plus jobs being added every month. We're thinking maybe about 60,000 on average per month, for most of next year. But just less policy uncertainty, some boost from the fiscal bill, the fact that monetary policy is going to be heading towards neutral. All of those things should be supportive. Given that the upper-income didn't really slow down this year, we'd also don't think there's going to be a giant acceleration next year. And so, some of that uptick in consumption growth, we think could actually come from the middle-income. And we also think that some of those tariff pressures on inflation are going to start to dissipate after peaking in the first quarter next year. Michelle Weaver: And Simeon, I want to bring the company side into the conversation. What's the early read you've gotten on Black Friday? Expectations into the shopping season were pretty weak. Do you think things could turn out to be better than feared? And are you seeing any differences by income cohort there? Simeon Gutman: The overall take is, it's mixed – to maybe slightly a little worse. I'll answer it in a few different ways. First, the old-fashioned tire kicking that the retail analysts have done during the holiday season. In our hard line, broad line, food retail space mixed to slightly a little worse. In Alex Straton's softline world sounded a little bit better. And then if we combine the takeaways that we've had from companies, at least who presented yesterday, Walmart, Target and some other category killer retailers, it sounded about inline. Underlying trend is relatively stable.I sat on a panel earlier today, with a data aggregator who suggested that the holiday was a little underwhelming. What we don't see; and the underwhelming being at a minus 2 percent run rate for the – I guess, the November to date period, that doesn't include Cyber Monday. What this doesn't account for is the market share shifts. So, one of the ongoing themes across the entire retail landscape has been this big, getting bigger – we say it a lot – but the narrowing funnel of market share. So, the inline updates are probably coming from some of the largest companies, even if the overall holiday was a little underwhelming. Now inline is not anything to write home about. It's harder to get to an inline holiday if you started out below. So inline's okay but not gangbusters. That's probably the right way to characterize it. Michelle Weaver: Megan, same question to you. How is holiday shopping tracking in your space? Have you learned anything surprising about holiday during the conference? Megan Clap: Yeah, I would agree with Simeon relatively inline. I'd say kind of so far so good is what we heard from companies at the conference. We had both Mattel and Shark Ninja product companies that sell into many of the larger retailers that are winning that – that Simeon talked about.Holiday matters a lot for both of them. So, we're still many weeks ahead of us in terms of POS, but Mattel talked about positive POS continuing through the Black Friday season. They left their guidance unchanged today. They're seeing replenishment from their retailers and orders in line with expectations, which was a question just given some of the uncertainty in the landscape. Shark Ninja sells small appliances. They spoke to a strong Black Friday – again, seeing the fourth quarter and holiday play out in line with their expectations. Maybe a couple themes that stood out and one of them was particularly interesting to me. You talked about the K economy, I think, you know, it was very clear the higher end consumer continues to spend and outperform. Value and innovation continue to be things that consumers are looking for. Online seem to do better than in stores. That's what we heard from a lot of companies coming out of last week. And then newer channels like TikTok Shop are coming into the mix and, and brands are seeing, you know, strong growth from those channels as well. Michelle Weaver: And Arunima, I want to wrap this section on Fed policy. How do you expect Fed policy in 2026 to influence consumer spending and recovery, especially for those middle- and lower-income households? Arunima Sinha: We still have the Fed on an easing path into the first half of 2026. So we think 75 basis points and additional policy cuts into next year. But that more or less just takes monetary policy to some estimate of neutral. So, the point is that it's not monetary policy's becoming easier, it is simply just getting too neutral. And so, if we think about the most interest sensitive types of consumption, it's going to come from Housing and it's going to come from Durables. And what our housing strategists are thinking is that given this sort of front end of the curve, our tenure forecast for the middle of next year is still at about 3.75. And so, mortgage rates could dip below 6 percent. So, it's not the front end of the curve. It is that sort of belly of the curve there that's important there. And so there could be some pickup in housing that's going to be important. I think for the middle-income consumer affordability, we think it's still going to be an important concern for housing, but perhaps the middle-income could benefit from some of those lower mortgage rates that are going to come in. Michelle Weaver: ​ Arunima, Simeon, and Megan, thanks for all your insights. And to our live and podcast audiences, thanks for listening. If you enjoy Thoughts on the Market, please leave us a review wherever you listen to the show and share the podcast with a friend or colleague today.

00:00 - Intro00:47 - Dan John on Loaded Carries on the Back09:22 - The Benefit of Olympic Lifts for Performance16:06 - Alternatives to Walking After Lifting23:05 - Easy Strength Success Story26:17 - Balancing Easy Strength for Fat Loss and Armor Building Formula32:00 - Maintaining Muscle After 50► Personalized workouts based on your schedule, ability, and equipment options. http://www.DanJohnUniversity.com.► If you're interested in getting coached by Dan personally, go to http://DanJohnInnerCircle.com to apply for his private coaching group.► Go to ArmorBuildingFormula.com to get Dan's latest book.

In this episode, we review probate requirements for inherited mineral rights: when they're needed, multi-state complications, and how proven strategies like trusts or LLCs can help you avoid them entirely. As always, this information is being shared for informational purposes only and should not be construed as legal, financial, or tax advice.  Be sure to contact a qualified attorney to help you make the most of an inheritance situation. Links to the references mentioned in this episode can be found in the show notes at mineralrightspodcast.com.

Tonight on Chicago Bulls Central, Haize breaks down one of the most revealing episodes of the season. The Bulls' big “Pacers-inspired blueprint” is hitting reality HARD

Our Global Head of Fixed Income Research and Public Policy Strategy Michael Zezas and Chief Global Cross-Asset Strategist Serena Tang address themes that are key for markets next year.Read more insights from Morgan Stanley.----- Transcript -----Michael Zezas: Welcome to Thoughts on the Market. I'm Michael Zezas, Global Head of Fixed Income Research and Public Policy Strategy.Serena Tang: And I'm Serena Tang, Morgan Stanley's Chief Global Cross-Asset Strategist.Michael Zezas: Today we'll be talking about key investor debates coming out of our year ahead outlook.It's Wednesday, December 3rd at 10:30am in New York. So, Serena, it was a couple weeks ago that you led the publication of our cross-asset outlook for 2026. And so, you've been engaging with clients over the past few weeks about our views – where they differ. And it seems there's some common themes, really common questions that come up that represent some important debates within the market. Is that fair?Serena Tang: Yeah, that's very fair. And, by the way, I think those important debates, are from investors globally. So, you have investors in Europe, Asia, Australia, North America, all kind of wanting to understand our views on AI, on equity valuations, on the dollar.Michael Zezas: So, let's start with talking about equity markets a bit. And one of the common questions – and I get it too, even though I don't cover equity markets – is really about how AI is affecting valuations. One of the concerns is that the stock market might be too high, might be overvalued because people have overinvested in anything related to AI. What does the evidence say? How are you addressing that question? Serena Tang: It is interesting you say that because I think when investors talk about equities being too high, of valuations – AI related valuations being very stretched, it's very much about parallels to that 1990s valuation bubble.But the way I approach it is like there are some very important differences from that time period, from valuations back then. First of all, I think companies in major equity indices are higher quality than the past. They operate more efficiently. They deliver strong profitability, and in general pretty solid free cash flow.I think we also need to consider how technology now represents a larger share of the index, which has helped push overall net margins to about 14 percent compared to 8 percent during that 1990s valuation bubble. And you know, when margins are higher, I think paying premium for stocks is more justified.In other words, I think multiples in the U.S. right now look more reasonable after adjusting for profit margins and changes in index composition. But we also have to consider, and this is something that we stress in our outlook, the policy backdrop is unusually favorable, right? Like you have economists expecting the Fed to continue easing rates into next year. We have the One Big Beautiful Bill Act that could lower corporate taxes, and deregulation is continuing to be a priority in the U.S. And I think this combination, you know, monetary easing, fiscal stimulus, deregulation. That combination rarely occurs outside of a recession. And I think this creates an environment that supports valuation, which is by the way why we recommend an overweight position in U.S. equities, even if absolute and relative valuation look elevated.Michael Zezas: Got it. So, if I'm hearing you right, what I think you're saying is that comparisons to some bubbles of the past don't necessarily stack up because profitability is better. There aren't excesses in the system. Monetary policy might be on the path that's more accommodative. And so, when compared against all of that, the valuations actually don't look that bad.Serena Tang: Exactly.Michael Zezas: Got it. And sticking with the equity markets, then another common question is – it's related to AI, but it's sort of around this idea that a small set of companies have really been driving most of the growth in the market recently. And it would be better or healthier if the equity market were to perform across a wider set of companies and names, particularly in mid- and small cap companies. Is that something that we see on the horizon?Serena Tang: Yes. We are expecting U.S. stock earnings to sort of broaden out here and it's one of the reasons why our U.S. equity strategy team has upgraded small caps and now prefer it over large caps. And I think like all of this – it comes from the fact that we are in a new bull market. I think we have a very early cycle earnings recovery here. I mean, as discussed before, the macro environment is supportive. And Fed rate cuts over the next 12 months, growth positive tax and regulatory policies, they don't just support valuations. They also act as a tailwind to earnings.And I think like on top of that, leaner cost structures, improving earnings revisions, AI driven efficiency gains. They all support a broad-based earnings upturn. and our U.S. equity strategy team do see above consensus 2026 earnings growth at 17 percent. The only other region where we have earnings growth above consensus in 2026 is Japan; for both Europe and the EM we are below, which drive out equal weight and slight underweight position in those two indices respectively.Michael Zezas: Got it. And so, since we can't seem to get away from talking about AI and how it's influencing markets, the other common question we get here is around debt issuance related to AI.So, our colleagues put together a report from earlier this year talking about the potential for nearly $3 trillion of AI related CapEx spending over the next few years. And we think about half of that is going to have to be debt financed. That seems to be a lot of debt, a lot of potential bonds that might be issued into the market – which, are credit investors supposed to be concerned about that?Serena Tang: We really can't get away from AI as a topic. And I think this will continue because AI-related CapEx is a long-term trend, with much of the CapEx still really ahead. And I think this goes to your question. Because this really means that we expect nearly another [$]3 trillion of data center related CapEx from here to 2028. You know, while half of the spend will come from operating cash flows of hyperscalers, it still leaves a financing gap of around [$]1.5 trillion, which needs to be sourced through various credit channels.Now, part of it will be via private credit, part of it would be via Asset Backed Securities. But some of it would also be via the U.S. investment grade corporate credit bond space. So, add in financing for faster M&A cycle, we forecast around [$]1 trillion in net investment grade bond issuance, you know, up 60 percent from this year.And I think given this technical backdrop, even though credit fundamentals should stay fine, we have doubled downgraded U.S. investment grade corporate credit to underweight within our cross asset allocation.Michael Zezas: Okay, so the fundamentals are fine, but it's just a lot of debt to consume over the next year. And so somewhat strangely, you might expect high yield corporate bonds actually do better.Serena Tang: Yes, because I think a high yield doesn't really see the same headwind from the technical side of things. And on the fundamentals front, our credit team actually has default rates coming down over the next 12 months, which again, I think supports high yield much better than investment grade.Michael Zezas: So, before we wrap up, moving away from the equity markets, let's talk about foreign exchange. The U.S. dollar spent much of last year weakening, and that's a call that our team was early to – eventually became a consensus call. It was premised on the idea that the U.S. was going to experience growth weakness, that there would also be these questions among investors about the role of the dollar in the world as the U.S. was raising trade barriers. It seemed to work out pretty well. Going into 2026 though, I think there's some more questions amongst our investors about whether or not that trend could continue. Where do we land?Serena Tang: I think in the first half of next year that downward pressure on the dollar should still persist. And you know, as you said, we've had a very differentiated view for most of this year, expecting the dollar to weaken in the first half versus G10 currencies. And several things drive this. There is a potential for higher dollar negative risk premium, driven by, I think, near term worries about the U.S. labor markets in the short term. And as investors, I think, debate the likely composition of the FOMC next year. Also, you know, compression in U.S. versus rest of the world. Rate differentials should reduce FX hedging costs, which also adds incentive for hedging activity and dollar selling. All this means that we see downward pressure on the dollar persisting in the first half of next year with EUR/USD at 123 and USD/JPY at 140 by the end of first half 2026.Michael Zezas: All right. Well, that's a pretty good survey about what clients care about and what our view is. So, Serena, thanks for taking the time to talk with me today.Serena Tang: And thank you for inviting me to the show today.Michael Zezas: And to our audience, thanks for listening. If you enjoy Thoughts on the Market, please leave us a review and share the podcast. We want everyone to listen.

In this special re-air of our milestone 200th episode, we hear when HeHe celebrated ten years of supporting over 2,000 families through all kinds of birth scenarios from serene vaginal births to unexpected twists while sharing how ancestral wisdom has shaped her approach to childbirth. With warmth, humor, and that signature bold honesty, she dives into the art of trusting your body, making confident choices, and saying “no thank you” to unnecessary interventions. This episode covers everything from declining cervical checks and IVs, navigating late pregnancy ultrasounds, intermittent fetal monitoring, and pushing positions, to handling unwanted inductions, all while keeping your birth experience empowered and trauma-free. HeHe also highlights the Birth Lounge App, your go-to for evidence-based education, bite-sized guidance, and a supportive community to help you rock your pregnancy and labor with confidence. Whether this is your first listen or a welcome refresher during maternity leave, tune in and let HeHe help you claim your power in birth, because your choices, your voice, and your baby deserve it. 00:00 Introduction and Personal Anecdote 06:17 The Birth Lounge App: Empowering Birth Experiences 09:06 Re-Air Announcement and Podcast Highlights 10:46 Celebrating 200 Episodes and The Birth Lounge 14:32 Navigating Conversations with Your Provider 15:45 Declining Cervical Exams: Your Rights and Options 22:25 Pushing Positions: Advocating for Your Comfort 25:38 Pushing Effectively in Labor: The Secret Sauce to Pushing  25:55 The Baby Soap Debacle: A Better Alternative Use code HEHE at coconu.com 28:03 The Importance of Organic Products During Pregnancy 29:01 Understanding Big Babies and Late Pregnancy Ultrasounds 31:18 Alternatives to Ultrasounds for Fetal Monitoring 35:51 Setting Boundaries with Healthcare Providers 38:11 Electronic Fetal Monitoring: What You Need to Know 44:17 Declining an IV During Labor 47:54 Navigating Unwanted Inductions 53:58 Empowering Your Birth Experience SOCIAL MEDIA: Connect with HeHe on Instagram  BIRTH EDUCATION: Join The Birth Lounge for judgment-free, evidence-based childbirth education that shows you exactly how to navigate hospital policies, avoid unnecessary interventions, and have a trauma-free labor experience — all while feeling wildly supported every step of the way: https://www.thebirthlounge.com/ Want prep delivered straight to your phone? Download The Birth Lounge App for bite-sized birth and postpartum tools you can use anytime, anywhere: https://www.thebirthlounge.com/app-download-page And if you haven't grabbed it yet… Snag my free Pitocin Guide to understand the risks, benefits, and red flags your provider may not be telling you about, so you can make informed, powerful decisions in labor: https://www.thebirthlounge.com/pitocin Learn how to stay in control of your birth and reduce the risk of unnecessary interventions in our Avoid a C-Section Webinar. HeHe breaks down the cascade of interventions, explains what's really happening in the hospital, and shares practical strategies to protect your birth plan, advocate for yourself, and navigate labor with confidence. Perfect for anyone who wants a positive, informed hospital birth experience: https://www.thebirthlounge.com/csection Feeling nervous about speaking up in labor? Our Scripts for Advocacy give you the exact words to handle the most common conversations that can make or break your birth experience. From declining unnecessary interventions to asking the right questions about procedures, these scripts empower you to stay in control, speak confidently, and protect your birth plan — even when the pressure is on. Think of it as your personal toolkit for advocating like a pro, so you can focus on your baby, not the stress: https://www.thebirthlounge.com/Scripts-for-Advocacy The Secret Sauce to Pushing course gives you step-by-step guidance on how to push effectively — whether you have an epidural or not — so you can reduce tearing, labor faster, and feel in control from start to finish. HeHe teaches which muscles to engage, how to position your body, and the techniques that actually work, giving you the confidence and tools to achieve your best birth possible. Learn more: https://www.thebirthlounge.com/SSP   Say goodbye to hospital “baby soap” and hello to safe, nourishing lubrication! CocoNu is one of HeHe's favorite all-organic lubes, made with coconut oil, coconut water, shea butter, cocoa butter, and other natural ingredients that keep your pH balanced and your downstairs happy. Perfect for your birth bag, pregnancy, or just better, safer intimacy, CocoNu comes in oil-based and water-based options, plus convenient single-use packets for labor or on-the-go. Because what you put in and on your body — especially down there — truly matters. Use code HEHE for a discount at CocoNu.com

Imagine logging in next month to find your bill for the AI tool you use has doubled, or that you've run out of credits halfway through a critical project.The explosion of AI video tools has brought incredible capabilities to content creators, but alongside these innovations comes a new challenge: complex pricing models that make it difficult to budget, explain costs to your boss, or know if you're getting sustainable value from your tools.Joining us in this episode is Daniel Foster, Director of Monetization at TechSmith, who studies the evolution of software pricing and has been closely watching how AI tools are being packaged and priced.Daniel shares practical advice for evaluating AI tools beyond just their features, looking at the "whole product" including support, documentation, and pricing sustainability. He explains how to navigate credit-based systems, and why bundled solutions might save you both money and headaches.Learning points from the episode include:00:38 - 01:52 Introduction to Daniel01:52 - 03:06 Daniel's tip for using images and video in work03:06 - 05:05 Why pricing decisions matter as much as features05:05 - 07:51 Current AI pricing models emerging in the market07:51 - 10:56 The complexity of credit-based systems10:56 - 13:47 Alternatives and features to look for in pricing13:47 - 19:54 Evaluating all-in-one vs. specialized tools19:54 - 22:29 Support and documentation considerations22:29 - 23:23 The most popular AI feature: Voice generation23:23 - 27:56 Speed round questions27:56 - 28:53 Daniel's final take28:53 - 30:14 OutroImportant links and mentions:Connect with Daniel on LinkedIn: https://www.linkedin.com/in/danielfoster/Camtasia: https://www.techsmith.com/camtasia/

Management at University Hospital Limerick have asked the public to first consider all available healthcare alternatives before attending the Emergency Department there, which is currently prioritising treatment of the sickest, most seriously injured and frailest patients. This follows the huge demand the Dooradoyle facility has experienced for its services. In the 24 hours between Monday and Tuesday, upwards of 350 people attended the Emergency Department there in the past 24 hours. For more on this, HSE Mid-West Regional Executive Officer Sandra Broderick joined Alan Morrissey on Morning Focus. Photo (c) Clare FM

Our South Asia Energy Analyst Mayank Maheshwari discusses how the unprecedented demand to power AI is set to transform the power industry for years to come.Read more insights from Morgan Stanley.----- Transcript -----Mayank Maheshwari: Welcome to Thoughts on the Market. I'm Mayank Maheshwari, Morgan Stanley's South Asia Energy Analyst. Today: how AI and electrification are rewriting the rules of global power. It's Tuesday, December 2nd at 9 pm in Singapore. If you've noticed your electricity bills are climbing and headlines are buzzing with talk of AI, you're not alone. The way we use – and need – power is changing fast, and it's impacting everyone from homeowners to major tech companies. Global power consumption is surging at the fastest pace in over a decade. Annual demand is set to rise by more than one trillion kilowatt-hours every year through 2030, with AI-driven data centers contributing nearly a fifth of that growth. We estimate about [U.S.]$3 trillion investments in datacenters by 2028, with power consumption growth of nearly about 126GW in these three years till [20]28. This is almost as large as Canada's total [annual] power consumption. And in this context, power prices are set to further rise. In 2024 – the latest full-year data available – global power sector investments hit a new high of $1.5 trillion, and consumer power prices have risen by about 15 percent. By 2030, U.S. power markets will account for half of the global data center power consumption. And Asia will also see about a 15 percent spillover of that U.S. hyperscaler demand, which will be also part of why some of the power markets in Asia will get a lot tighter. As power consumption rises, the difference between the price at which electricity is sold and the cost to generate it – also known as power spreads – are likely to rise by nearly 15 percent. This expansion in profit margins could lead to higher earnings forecasts for power generation companies and create $350 billion in value creation through the entire power supply chain. At the same time, years of under-investments in electric grids have led to bottlenecks, sparking a wave of new spending and pushing the industry to rely more on natural gas and energy storage and other new technologies – while also supporting that option of renewable power. In 2024, gas investments hit record highs, and starting in 2026 gas is set to become a new truly global source of new power generation. Looking ahead, natural gas is expected to meet about a fifth of [the] world's new power needs, excluding China. And nuclear energy is well positioned for increased investments; while batteries – which is energy storage – is also getting to get a new set in terms of new investments across datacenters and in markets like China . Moving forward, the power industry faces a multi-decade transformation, marked by unexpected shifts and opportunities. We'll see increased collaboration between fossil and non-fossil fuels, wider adoption of tiered pricing, and a surge in spot market and behind-the-meter sales all driving longer-lasting, elevated power spreads. Gas, nuclear, energy storage, and fuel cell supply chains – especially in Asia and the U.S. – stand to gain from stronger pricing power [and] new growth prospects, while grid operators benefit from higher investment and better returns. On the flip side, pure solar and wind producers may continue to see rising costs in Asia, something we have already seen in [the] U.S. and Europe, as [the] global grid leans more on batteries and steady fossil fuel supplies to balance the requirements of the rising needs of power across the supply chains – in AI as well as domestic utilization of manufacturing. Ultimately, as AI and electrification supercharge power demand, the real challenge isn't just adding renewables. It's about building a resilient, flexible grid and navigating the new economics of energy. Thanks for listening. If you enjoy Thoughts on the Market, please leave us a review wherever you listen and share the podcast with a friend or colleague today.

Equine Herpesvirus-1 and Equine Herpes Myeloencephalopathy Drinking Energy Drinks Controlling Dairy Reproduction   00:01:05 – Equine Herpesvirus-1 and Equine Herpes Myeloencephalopathy: Beginning today's show is Justin Smith, Kansas animal health commissioner, as he discusses a horse virus that has recently been talked more about and how horse owners can help protect their animals. Equine Disease Communication Center   00:12:05 – Drinking Energy Drinks: Chelsea King, nutrition, food safety and health Extension agent in Johnson County, continues the show as she explains energy drinks, the concerns with them and potential alternatives.   00:23:05 – Controlling Dairy Reproduction: K-State dairy specialist Mike Brouk ends the show saying how managing the reproductive status of the herd is something dairy producers can control - and that today's technology makes that easier.      Send comments, questions or requests for copies of past programs to ksrenews@ksu.edu.   Agriculture Today is a daily program featuring Kansas State University agricultural specialists and other experts examining ag issues facing Kansas and the nation. It is hosted by Shelby Varner and distributed to radio stations throughout Kansas and as a daily podcast.   K‑State Extension is a short name for the Kansas State University Agricultural Experiment Service, a program designed to generate and distribute useful knowledge for the well‑being of Kansans. Supported by county, state, federal and private funds, the program has county Extension offices statewide. Its headquarters is on the K‑State campus in Manhattan. For more information, visit www.ksre.ksu.edu. K-State Extension is an equal opportunity provider and employer.

Welcome back to the Alt Goes Mainstream podcast.Today's episode brings the perspective of an asset management veteran who has sat on both sides of the table.We sat down in Franklin Templeton's New York City office with George Stephan, COO of Global Wealth Management Alternatives at Franklin Templeton.George joined Franklin to continue the buildout of the firm's Alternatives capabilities, which boasts over $264B AUM in private markets strategies that include Lexington Partners, Benefit Street Partners, and Clarion Partners. George came from KKR, where he was Head of Strategy and Business Development for the firm's Global Client Solutions business and was also COO and Head of Investor Relations for KKR's Global Wealth Solutions business in the Americas. Prior to KKR, George spent nine years in Morgan Stanley's wealth management division. George is also a Board Observer at CAIS.George and I had a fascinating conversation about how to build a wealth solutions business and how advisors approach private markets. We discussed:How has the adoption of private markets by the wealth channel evolved over the course of George's career?The benefits and challenges of being a traditional asset manager building out its private markets capabilities.The breadth and depth of Franklin Templeton's reach as a firm and how that brand and history have helped Franklin partner with the wealth channel in private markets.How has Franklin Templeton's family of specialists enabled the firm to leverage the expertise of specialist alternative asset managers within a larger platform?How does the wealth channel approach private markets?How will model portfolios be constructed and adopted by the wealth channel?Will evergreen funds be the structure of choice for most advisors?Thanks George for coming on the show to share your expertise and wisdom at the intersection of private markets and private wealth.Show Notes00:00 Introduction to our Sponsor, Ultimus01:55 Welcome to the Podcast02:03 Guest Introduction: George Stephan03:59 George's Career Journey04:12 Building Wealth Solutions at Franklin Templeton06:06 Key Pillars for Success in Wealth Management07:31 Client Service and Operational Excellence09:04 Strategic Approach to Wealth Management10:15 Convergence of Public and Private Markets10:48 Advisor Needs and Solutions13:31 Franklin Templeton's Private Markets Business14:23 Unifying Private Markets Business15:01 Cross Collaboration and Investment Decisions15:43 Cultural Alignment in Acquisitions16:35 Franklin Templeton's Core Principles17:15 Heritage and Long-Term Thinking21:30 Brand Evolution and Market Perception24:19 Strategic Partnerships in Private Markets25:56 Future of Partnerships and Acquisitions26:57 Winners and Losers in Partnerships27:10 Advisor's Perspective on Productization27:43 Allocating to Public and Private Markets28:21 Innovation in Private Markets29:05 Challenges and Opportunities in Wealth Management29:56 The Future of Multi-Asset Solutions30:17 Operational Complexity in Private Markets31:27 The Need for Digital Transformation31:59 Adoption of Distributed Ledger Technology (DLT)32:46 Evolving Technology in Wealth Management33:49 Impact of Market Efficiency on Returns35:13 Dispersion in Private Markets Performance37:17 Scale and Investment Integrity38:44 Building Capabilities in Franklin Alternatives40:10 Partnering with Asset Managers41:36 Keys to Building a Wealth Solutions Business42:16 Hiring for Private Markets Expertise43:39 Educating the Industry on Private Markets45:48 Evergreen Structures in Private Markets49:45 Exciting Trends in Private MarketsEditing and post-production work for this episode was provided by The Podcast Consultant.A word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus Fund Solutions, a leading full-service fund administrator for asset managers in private and public markets. As private markets continue to move into the mainstream, the industry requires infrastructure solutions that help funds and investors keep pace. In an increasingly sophisticated financial marketplace, investment managers must navigate a growing array of challenges: elaborate fund structures, specialized strategies, evolving compliance requirements, a growing need for sophisticated reporting, and intensifying demands for transparency.To assist with these challenging opportunities, more and more fund sponsors and asset managers are turning to Ultimus, a leading service provider that blends high tech and high touch in unique and customized fund administration and middle office solutions for a diverse and growing universe of over 450 clients and 1,800 funds, representing $500 billion assets under administration, all handled by a team of over 1,000 professionals. Ultimus offers a wide range of capabilities across registered funds, private funds and public plans, as well as outsourced middle office services. Delivering operational excellence, Ultimus helps firms manage the ever-changing regulatory environment while meeting the needs of their institutional and retail investors. Ultimus provides comprehensive operational support and fund governance services to help managers successfully launch retail alternative products.Visit www.ultimusfundsolutions.com to learn more about Ultimus' technology enhanced services and solutions or contact Ultimus Executive Vice President of Business Development Gary Harris on email at gharris@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.

In this episode, I share the story of my sister Sarah and how we found better alternatives to group homes that gave her a life of independence, dignity, and joy. Many families feel forced to accept group home placements, but there are real options that offer more privacy, control, and community connection.   What you'll discover: - What group homes are and why they may not suit everyone - The ins and outs of Supported Independent Living and Shared Living - How creating a customized home can transform lives - Practical steps to begin planning for a better future   Deciding where and how your loved one lives is one of the most important choices you'll make. Learning about these alternatives empowers you to make intentional decisions that lead to meaningful, secure, and fulfilling futures.   Ready to start planning? Download your FREE Life Planning 101 Guide 

The Christmas party season should be a time for joy and celebration — but for HR teams, it's often the exact opposite. Misconduct, blurred boundaries, alcohol, drugs, safety concerns, dignity-at-work issues, employer liability… every December, HR braces for what can become the messiest time of the year. In this episode, Dave and Mary are joined by Adrian Twomey, Employment Law Expert & Partner at Jacob & Twomey Solicitors, to unpack the real risks, legal responsibilities, and unexpected behaviours that regularly turn a festive night out into a January HR nightmare. Together, they explore what employers are actually liable for, whether pre-party reminder emails help, why managers play a pivotal role, and if Christmas parties are – controversially -past their sell-by date entirely. Guests Adrian Twomey – Employment Law Expert & Partner, Jacob & Twomey Solicitors Topics include: Employer Liability: Are Christmas parties an extension of the workplace? Real Case Law Examples – harassment, injuries & blurred boundaries Alcohol, Drugs & Lowered Inhibitions: The behaviour shift HR must prepare for Why pre-party “behave yourselves” emails may backfire Managing Complaints: What to do first thing Monday morning The role of managers in preventing party-night disasters Social Media, Privacy & Reputation Risks Should Christmas Parties Be Cancelled Altogether? Alternatives to the traditional boozy night out Key actions HR should take now to protect employees and the organisation Survey: Ireland's HR Landscape 2026 Ireland's HR Landscape 2026 Survey – Share your experience, benchmark against peers, and get early access to the final report. As a thank you, you'll also be entered into a draw for a €150 One4All Digital Gift Card. Take the survey here Get in touch If you're not already following us on LinkedIn, please do. If you have any suggestions for future episodes, or if you'd like to join us as a guest, reach out to Dave Corkery at dcorkery@insighthr.ie or connect with him on LinkedIn. About The HR Room Podcast The HR Room Podcast is brought to you by Insight HR — where we speak with HR leaders, experts and practitioners across Ireland about the issues shaping the world of work today. If you're enjoying the podcast, please share it with colleagues or friends and leave us a review. We love to hear your feedback, we take requests, and we're always here to support you with your HR challenges. Immediate HR support

Despite millions of us being exposed to psychiatric drugs, doctors, patients and families know very little about the harmful effects of psychiatric drugs. They know almost nothing about long-term harmful effects and even less about withdrawal effects. It's almost taboo to talk about stopping psychiatric drugs. Millions of people think they need psychiatric drugs because their feel dreadful when they try to stop them; but they don't need drugs--the need to learn to how to stop taking them. His new book, Psychiatric Drug Withdrawal, describes many of the reasons to stop taking psychiatric drugs and shows how to withdraw from them as safely as possible. Peter R. Breggin MD is a psychiatrist in private practice Ithaca, New York. Dr. Breggin is a worldwide leader in psychiatric reform who is called "The Conscience of Psychiatry." He founded the Center for the Study of Empathic Therapy, and has written more than 20 books including Talking Back to Prozac and Toxic Psychiatry. His new book is Psychiatric Drug Withdrawal: A Guide for Prescribers, Therapists, Patients and their Families.Become a supporter of this podcast: https://www.spreaker.com/podcast/the-x-zone-radio-tv-show--1078348/support.Please note that all XZBN radio and/or television shows are Copyright © REL-MAR McConnell Meda Company, Niagara, Ontario, Canada – www.rel-mar.com. For more Episodes of this show and all shows produced, broadcasted and syndicated from REL-MAR McConell Media Company and The 'X' Zone Broadcast Network and the 'X' Zone TV Channell, visit www.xzbn.net. For programming, distribution, and syndication inquiries, email programming@xzbn.net.We are proud to announce the we have launched TWATNews.com, launched in August 2025.TWATNews.com is an independent online news platform dedicated to uncovering the truth about Donald Trump and his ongoing influence in politics, business, and society. Unlike mainstream outlets that often sanitize, soften, or ignore stories that challenge Trump and his allies, TWATNews digs deeper to deliver hard-hitting articles, investigative features, and sharp commentary that mainstream media won't touch.These are stories and articles that you will not read anywhere else.Our mission is simple: to expose corruption, lies, and authoritarian tendencies while giving voice to the perspectives and evidence that are often marginalized or buried by corporate-controlled media

Our Co-Heads of Securitized Product Research Jay Bacow and James Egan discuss the outlook for mortgage rates and the U.S. housing market in 2026.Read more insights from Morgan Stanley.----- Transcript -----Jay Bacow: Jim, why did the cranberry turn red? James Egan: Please enlighten me. Jay Bacow: Because it saw the turkey dressing. Jay Bacow: I hope everybody had a good Thanksgiving. Welcome to Thoughts on the Market. I'm Jay Bacow, Co-Head of Securitized Products Research at Morgan Stanley. James Egan: And I'm Jim Egan, the other Co-Head of Securitized Products Research at Morgan Stanley. Today we're here to talk about our views from mortgage rates in 2026 and how that flows through to our U.S. housing outlook.It's Monday, December 1st at 11:30am in New York.Now, Jay, as we all get over our turkey induced naps over the weekend, how are we thinking about mortgage rates evolving in 2026?Jay Bacow: Well, as you and I discussed previously on this podcast, the Fed cutting rates in and of itself doesn't actually cause the 30-year fixed rate mortgage to come down. However, our rate strategists' forecast for lower rates in the front end should be helpful to where the primary rate ends up this year. And we would also expect some compression between primary mortgage rates and Treasury rates given our bullish outlook for the mortgage asset class. So, our expectation is that the 30-year fixed rate ends 2026 around 5.75 percent.James Egan: Alright, if we get to 5.75, maybe a little bit lower than that in the middle of next year, that's enough to send affordability into a healthier place. But that's a relative term. Affordability is still going to be under pressure, but it will have improved. And it will have improved at a pretty healthy amount from where we were in the fourth quarter of 2023, which was multi-decade levels of challenged.Jay Bacow: All right, Jim, so clearly the mortgage rate coming down does make homes more affordable, but is it enough to cause more homes to actually transact?James Egan: So, the answer is yes, but it's going to be a ‘Yes, but' answer from that perspective. We do think that transaction volumes are going to increase. But to put into context where we sit from a housing market perspective – we already saw a healthy increase in affordability from the fourth quarter of [20]23 through the end of 2024, right? But if we put that affordability improvement in context, we've seen that about 10 times over the past 40 years. The only times where sales responded more tepidly than they just did in 2025 – were in 2009, the teeth of the Great Financial Crisis; and in 2020, when the market really slowed down in the immediate aftermath of COVID. The lock-in effect is still playing a very big role. We do think that this sustained marginal improvement and affordability will help purchase volumes. But this is not what's going to get us to kind of escape velocity. We're calling for about a 3 percent growth in purchase volumes next year. Jay Bacow: Alright. Now, you mentioned this a little bit already, but if there's less lock-in because the mortgage rate has come down, will more people be willing to list their homes for sale? Are we going to get more inventory on the market? James Egan: I think that's the other piece of how we're thinking about housing moving forward. Any improvement we get in affordability from lower mortgage rates is going to be paired with increasing inventory volumes. We've already seen that. Listed inventories are up roughly 30 percent from historic lows in 2023. They're still 20 percent worth below where they were in 2019. So, we're not talking about oversupply at this point. But that increase in listed inventories without a contemporaneous increase in demand is weighed on the pace of home price growth. We started this year at +4 percent nationally. We're below +1.5 percent. We think that any growth and demand will come coincident with the growth in listing volumes. That's going to keep home price appreciation under control. We're only calling for 2 percent growth in HPA next year, 3 percent out in 2027. But the high level thought here is that the housing market is well supported at these levels. Difficult to see big decreases in sales volumes or prices next year. But also going to be difficult to really achieve any more material growth in this low single digits we're calling for. But Jay, as you and I are talking about this outlook with market participants, one question that gets brought up frequently is what else can the administration do, especially on the affordability side, to help with instigating more housing activity. Jay Bacow: In order to really help affordability, given the challenges that you've discussed around the supply and demand issues; then the other aspect of that is just what is the mortgage rate? And if they were to do things that would cause the mortgage rate to come down, that would be helpful. Now, the Fed already has made an announcement that they're going to continue mortgage runoff from their balance sheet. If they ended mortgage runoff, that would've helped. But that window seems to have passed. There's been some discussion from the administration around new types of programs. In particular, there was a lot of headlines around a 50-year program. A 50-year amortization schedule would likely result in a material drop in the monthly payment that the homeowner would make – which would help. However, the total interest payments for that homeowner, depending on exactly where this hypothetical 50-year mortgage rate would price, are probably about double over the life of the loan relative to a 30-year fixed rate mortgage. So, we're not really sure that this product would see a huge amount of upkeep. There's also some technical challenges around whether it meets the definition of a qualified mortgage and some other in the weeds discussions. James Egan: What about all the discussion we're hearing around assumability of mortgages, portability of mortgages? Is there anything there? Jay Bacow: Based on our understanding of contract law, which I have to confess is limited as I am not a lawyer, we don't think you can retroactively make mortgages portable or assumable that were not already portable or assumable. So, you can make new mortgages portable and assumable. Portable as a reminder means that if you have a mortgage, you take it with you to your new house, and assumable means that the mortgage stays with the house. If you sell it to somebody else, they get that mortgage. But realistically, we think this would have to be a new product. And because it would be a new product with new benefits to the homeowner, it would actually probably cause their mortgage rate to be higher, not lower. James Egan: I guess one last question. We're talking about affordability and we're addressing it through interest rates being lower, we're addressing it through the potential for new products to be put out there, even if there are some challenges around that piece of it. But what about just demand for mortgages themselves? You said the Fed might not be a buyer going forward, but are there other pockets of demand for mortgages that could help bring down mortgage rates? Jay Bacow: Sure. So, we expect the GSEs to grow their portfolio next year, that would certainly be helpful. On the margin, we expect them to buy about a little less than a third of the net issuance that comes to the market. We also think that domestic banks could come back to the market and they could help bring the mortgage rates lower. But these changes are going to help mortgage rates by, in the context of maybe an eighth of a point to a quarter of a point at most. It's not a panacea, unfortunately. James Egan: Alright. So, we expect a little bit of an improvement in mortgage rates, a little bit of affordability improvement next year. That should lead to growth in purchase volumes, and I think it will lead to a little bit of growth in home prices. But the housing market is well supported range bound here. Jay Bacow: Jim, pleasure talking to you. And to all our regular listeners, thank you for adding Thoughts on the Market to your playlist. James Egan: Let us know what you think wherever you get this podcast and share Thoughts on the Market with a friend or colleague today.Jay Bacow: And as my kids would say, go smash that subscribe button.

Exploring behavioral design without shaming? Let's chat → professorgame.com/chat In this episode, we break down the wild world of "confirm shaming": manipulative, guilt-driven prompts apps use to push you into saying yes. From hilarious to downright unethical examples, we unpack why these dark patterns harm long-term loyalty and how to use motivation ethically to build real engagement and retention. Rob Alvarez is Head of Engagement Strategy, Europe at The Octalysis Group (TOG), a leading gamification and behavioral design consultancy. A gamification strategist and TEDx speaker, he founded and hosts Professor Game, the #1 gamification podcast, and has interviewed hundreds of global experts. He designs evidence-based engagement systems that drive motivation, loyalty, and results, and teaches LEGO® SERIOUS PLAY® and gamification at top institutions including IE Business School, EFMD, and EBS University across Europe, the Americas, and Asia.   Links to episode mentions: Confirmshaming.tumblr.com deceptive.design Ethics in Game-Based Solutions and Gamification | Episode 153 Andrzej Marczewski Doing Ethics In Gamification | Episode 161 Lets's do stuff together! Let's chat about your gamification project 3 Gamification Hacks To Boost Your Community's Revenue Start Your Community on Skool for Free Game of Skool Community YouTube LinkedIn Instagram Facebook Ask a question

Jon is back and hits the ground running! Jon looks at national news from the holiday weekend, including a shooting in Washington D.C. and reactions from prominent politicians, President Trump's comments about Tim Walz, and State employees pointing blame for the rampant fraud in Minnesota. Andrew Langer joins to catch up on all of the headlines from the last few weeks.See omnystudio.com/listener for privacy information.

Jon is back and hits the ground running! Jon looks at national news from the holiday weekend, including a shooting in Washington D.C. and reactions from prominent politicians, President Trump's comments about Tim Walz, and State employees pointing blame for the rampant fraud in Minnesota. Andrew Langer joins to catch up on all of the headlines from the last few weeks.

With housing costs, student loans, and everyday expenses skyrocketing, more young adults are turning to their parents for financial support. Doug Hoyes and Ted Michalos unpack the emotional, financial, and practical realities behind "helping" adult children, including why many parents feel compelled to assist, and break down the real risks of co-signing, lending money, or tapping home equity to solve a child's debt issues. (00:00) How costs, debt, and housing pressures shape young adults' expectations (03:10) Why parents feel compelled to help financially (06:20) When helping becomes risky for parents approaching or in retirement (10:00) Enabling, dependency, and how money strains family dynamics (12:00) Co-signing explained: what parents are really responsible for (13:30) When support prevents children from developing budgeting or financial skills (15:05) Alternatives to direct financial help (17:10) When to involve a Licensed Insolvency Trustee (18:40) Conditional help vs. open-ended rescue (25:00) Key takeaway: protect your own financial future first How Can I Help My Adult Child With A Lot Of Debt? Joint Consumer Proposal – Who Can File Together? DIY Free Credit Repair Course Sign Up for the Monthly Debt Free Digest Hoyes Michalos YouTube Channel Learn About Debt Relief Options in Ontario Disclaimer: The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personal guidance from a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions, strategies, or digital tools/apps discussed.

See omnystudio.com/listener for privacy information.

Original Release Date: October 31, 2025Our Japan Financials Analyst Mia Nagasaka discusses how the country's new stablecoin regulations and digital payments are set to transform the flow of money not only locally, but globally.Read more insights from Morgan Stanley.----- Transcript -----Welcome to Thoughts on the Market. I'm Mia Nagasaka, Head of Japan Financials Research at Morgan Stanley MUFG Securities. Today – Japan's stablecoin revolution and why it matters to global investors. It's Friday, October 31st, at 4pm in Tokyo. Japan may be late to the crypto market. But its first yen-denominated stablecoin is just around the corner. And it has the potential to quietly reshape how digital money moves across the country and globally. You may have heard of digital money like Bitcoin. It's significantly more volatile than traditional financial assets like stocks and bonds. Stablecoins are different. They are digital currencies designed to maintain a stable value by being pegged to assets such as the yen or U.S. dollar. And in June 2023, Japan amended its Payment Services Acts to create a legal framework for stablecoins. Market participants in Japan and abroad are watching closely whether the JPY stablecoin can establish itself as a major global digital currency, such as Tether. Stablecoins promise to make payments faster, cheaper, and available 24/7. Japan's cashless payment ratio jumped from about 30 percent in 2020 to 43 percent in 2024, and there's still room to grow compared to other countries. The government's push for fintech and digital payments is accelerating, and stablecoins could be the missing link to a truly digital economy. Unlike Bitcoin or other cryptocurrencies, stablecoins are designed to suppress price volatility. They're managed by private companies and backed by assets—think cash, government bonds, or even commodities like gold. Industry watchers think stablecoins can make digital payments as reliable as cash, but with the speed and flexibility of the internet. Japan's regulatory approach is strict: stablecoins must be 100 percent backed by high-quality, liquid assets, and algorithmic stablecoins are prohibited. Issuers must meet transparency and reserve requirements, and monthly audits are standard. This is similar to new rules in the U.S., EU, and Hong Kong. What does this mean in practice? Financial institutions are exploring stablecoins for instant payments, asset management, and lending. For example, real-time settlement of stock and bond trades normally take days. These transactions could happen in seconds with stablecoins. They also enable new business models like Banking-as-a-Service and Web3 integration, although regulatory costs and low interest rates remain hurdles for profitability.Or think about SWIFT transactions, the backbone of international payments. Stablecoins will not replace SWIFT, but they can supplement it. Payments that used to take days can now be completed in seconds, with up to 80 percent lower fees. But trust in issuers and compliance with anti-money laundering rules are critical. There's another topic on top of investors' minds. CBDCs – Central Bank Digital Currencies. Both stablecoins and CBDCs are digital. But digital currencies are issued by central banks and considered legal tender, whereas stablecoins are private-sector innovations. Japan is the world's fourth-largest economy and considered a leader in technology. But it takes a cautious approach to financial transformation. It is preparing for a CBDC but hasn't committed to launching one yet. If and when that happens, stablecoins and CBDCs can coexist, with the digital currency serving as public infrastructure and stablecoins driving innovation. So, what's the bottom line? Japan's stablecoin journey is just beginning, but its impact could ripple across payments, asset management, and even global finance. Thanks for listening. If you enjoy the show, please leave us a review wherever you listen and share Thoughts on the Market with a friend or colleague today.

This week on Nacho Kids Podcast, Lori and David dive deep into the often sticky subject of gifts: where they go, who they belong to, and the emotional complexities when kids want to bring presents between homes. Whether your family is navigating joint custody, split holidays, or parallel parenting, this episode delivers smart advice and real stories that every modern blended family can relate to. Listeners will learn: The factors that influence whether gifts should travel between homes (cost, age, custody schedules) How withholding gifts can reinforce the sense of "two separate lives" for kids, and emotional fallout that comes with it Tips for setting clear expectations about gifts, including guidelines for expensive presents and clothing The pitfalls of competitive gift-giving between parents and how to keep the focus on your child Alternatives to physical presents, like sharing memorable experiences instead Why "guilty parent syndrome" can drive us to replace lost or broken items, and why letting kids learn consequences is often healthier Relevant Links: Learn more about Nacho Kids: nachokids.com Join the Nacho Kids Academy: NachoKidsAcademy.com Connect on Facebook: Nacho Kids Facebook Subscribe and never miss an episode: Apple Podcasts YouTube: Nacho Kids YouTube If this episode resonates with you, subscribe, leave a review, or check out the full Nacho Kids Method on nachokids.com to join the conversation and gain more support in your blended family journey!

Phoebe and Jacyln are talented sisters originally from Lake Orion, MI who've been making music together for over a decade. Their peers in the local music scene, including Jill Jack, have been helping to lift them up as they've continued to find their path and hone their craft over the years. Their third release, Temporary By Design, comes nine years after their debut covers record, Come What May, and shows the growth the duo have made since their debut. Put it on and feel what they've been through via the heartfelt lyrics.Songs, written by Keynote Sisters, include:Done and DamnedPhoenix TearsWaitin' On YouIt's All TalkMore about Keynote Sisters at: https://keynotesisters.com/More about Acoustic Alternatives: https://johnmbommarito.wixsite.com/johnbommarito/acoustic-alternativesGrove Studios makes it all possible: https://grovestudios.space/

In this solo episode, the host discusses the effects of metformin, berberine, and dihydroberberine on exercise adaptation and longevity. While metformin is known for its longevity benefits and is popular in the biohacking community, it has been shown to significantly reduce exercise adaptations and VO2 max gains. Berberine, a supplement with similar effects to metformin, is easier to obtain but still has some negative effects on exercise and significant GI side effects. The episode introduces dihydroberberine (DHB), a compound with fewer GI issues and less impact on exercise adaptation, making it more suitable for athletes. The host explains the mechanisms behind these compounds, including their effects on AMPK and mTOR pathways, and offers practical advice on when to take DHB in relation to different types of exercise to maximize benefits and minimize drawbacks.     Links: Harvard longevity researcher known for NAD+ & aging research. Diabetes drug often discussed for longevity.Energy-sensing enzyme that promotes catabolic (fat-burning) pathways.   Show Notes: 00:00 Welcome back to the Hart2Heart Podcast with Dr. Mike Hart 00:14 "Metformin may blunt up to 50% of your VO₂ max gains — that's a massive hit for any athlete." 00:30 Metformin: the popular longevity drug 01:00 Berberine: the over-the-counter alternative 02:30 Understanding AMPK and mTOR 04:30 Metformin's mechanism and drawbacks 06:00 Berberine's mechanism and side effects 07:30 Dihydro berberine: the superior choice 10:30 DHB and exercise: timing and benefits 18:00 Comparing Metformin, berberine, and DHB — The Hart2Heart podcast is hosted by family physician Dr. Michael Hart, who is dedicated to  cutting through the noise and uncovering the most effective strategies for optimizing health,  longevity, and peak performance. This podcast dives deep into evidence-based approaches to  hormone balance, peptides, sleep optimization, nutrition, psychedelics, supplements, exercise  protocols, leveraging sunlight light, and de-prescribing pharmaceuticals—using medications only when absolutely necessary.   Beyond health science, we tackle the intersection of public health and politics, exposing how  policy decisions shape our health landscape and what actionable steps people can take to reclaim control over their well-being.   Guests range from out-of-the-box thinking physicians such as Dr. Casey Means (author of "Good Energy") and Dr. Roger Sehult (Medcram lectures) to public health experts such as Dr. Jay Bhattacharya (Director of the National Institutes of Health (NIH) and Dr. Marty Mckary  (Commissioner of the Food and Drug Administration (FDA) and high-profile names such as  Zuby and Mark Sisson (Primal Blueprint and Primal Kitchen).   If you're ready to take control of your health and performance, this is the podcast for you. We cut through the jargon and deliver practical, no-BS advice that you can implement in your daily life, empowering you to make positive changes for your well-being.   Connect on social with Dr. Mike Hart: Instagram: @drmikehart Twitter: @drmikehart Facebook: @drmikehart  

11/26/2025 - Josh Hollinger -on the dangers of and possible alternatives to sports betting for young men

Pregnancy comes with a lot of rules, warnings, and fear based posts online. But how much of that advice is actually rooted in science, and how much is leftover noise that keeps parents stressed for no reason? In today's episode, I sit down with Dr. Jessica Knurick, a nutrition researcher and registered dietitian who has spent years breaking down food myths in the pregnancy and postpartum space. Together we walk through the biggest areas of confusion, why so much misinformation spreads so fast, and how to make calmer, more confident choices during pregnancy. We talk about: The most common food rules that get blown out of proportion Why certain foods get labeled as “dangerous” without context What the real risk of listeria looks like, and how to lower it Sushi, soft cheese, runny eggs, deli meat, and why the blanket rules don't tell the full story How to think about risk in pregnancy without spiraling The truth about the glucose test and why the alternatives online fall short What high mercury fish means and why fish is still an important part of pregnancy nutrition Where fear based content online pulls parents in and how to protect your headspace To connect with Dr. Jessica Knurick follow her on Instagram @drjessicaknurick and check out all her resources at https://www.jessicaknurick.com/ My Experience with Gestational Diabetes: https://youtu.be/QCtGft6p7c0  00:00 Why fear around food and the glucose test is rising 01:25 Why Dr. Jessica Knurick's work matters in pregnancy nutrition 03:44 How misinformation spreads during pregnancy 06:13 The gray area behind food rules and risk 08:36 Soft cheese, deli meat, and runny eggs: what's actually risky 11:06 The truth about listeria and real foodborne illness risks 14:12 Sushi, fish, mercury, and what research actually shows 17:04 How to approach food safety without spiraling 20:29 Real life examples of weighing pros and cons in pregnancy 23:34 What the glucose test really measures 25:53 Why screening happens at 24–28 weeks 27:52 Common myths about the glucose drink 30:30 Alternatives like jelly beans, pancakes, and OJ: why they don't work 33:54 When at home monitoring is appropriate 42:17 A helpful tip for managing symptoms after the test 43:24 Final message on protecting your mental space in pregnancy Our podcasts are also now on YouTube. If you prefer a video podcast with closed captioning, check us out there and ⁠subscribe to PedsDocTalk⁠. Get trusted pediatric advice, relatable parenting insights, and evidence-based tips delivered straight to your inbox—join thousands of parents who rely on the PDT newsletter to stay informed, supported, and confident. ⁠⁠⁠⁠Join the newsletter⁠⁠⁠⁠! And don't forget to follow ⁠⁠⁠⁠@pedsdoctalkpodcast⁠⁠⁠⁠ on Instagram—our new space just for parents looking for real talk and real support. We love the sponsors that make this show possible! You can always find all the special deals and codes for all our current sponsors on the ⁠PedsDocTalk Podcast Sponsorships⁠ page of the website.  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Original Release Date: October 10, 2025Our U.S. Thematic and Equity Strategist Michelle Weaver discusses how the largest intergenerational wealth transfer in history could reshape saving, spending and investment behavior across America.Read more insights from Morgan Stanley.----- Transcript ----- Michelle Weaver: Welcome to Thoughts on the Market. I'm Michelle Weaver, Morgan Stanley's U.S. Thematic and Equity Strategist.Today, a powerful force reshaping the financial lives of millions of Americans: inheritance.It's Friday, October 10th at 10am in New York.Americans are living longer and they're passing on their wealth later. Longevity is one of Morgan Stanley Research's four key themes, and this is an interesting element of longevity. As baby boomers age, they're expected to transfer their wealth to Gen X, millennials and Gen Z to the tune of tens or even hundreds of trillions of U.S. dollars.Estimates vary widely, but the amounts are unprecedented. And so, inheritance isn't just a family milestone; it's becoming an important cornerstone of financial planning and longevity. And understanding who's receiving, expecting, and using their inheritances is key to forecasting how Americans save, spend, and invest.According to our latest AlphaWise survey, 17 percent of U.S. consumers have received an inheritance, and another 14 percent expect to receive one in the future. Younger Americans are especially optimistic. Their expectations split evenly between those anticipating an inheritance within the next 10 years and those expecting it further out.But here's the kicker; income plays a huge role. Only 17 percent of lower income consumers report receiving or expecting an inheritance, but that number jumps to 43 percent among higher income households highlighting a clear wealth divide.What about the size of the inheritance? In our survey, those who received or expect to receive an inheritance fall broadly into three categories. About half reported amounts under $100,000 dollars. For about a third, that amount rose to under $500,000. And then meanwhile, 10 per cent reported an inheritance of half a million dollars or more.Younger consumers tend to report smaller amounts, while inheritance size rises with income. One important thing to remember about our survey though, is it looks more at the average person. We are missing some of those very high net worth demographics in there where I would expect inheritance to rise much higher than half a million.And so, when we think about this, how will recipients use this wealth? That's a really important question. The majority, about 60 percent, say they have or will put their inheritance towards savings, retirement, or investments. About a third say they'll use it for housing or paying down debt. Day-to-day consumption, travel, education and even starting a business or giving to charity also featured in the survey responses – but to a lesser extent.The financial impact of inheritance is significant: 46 percent of recipients say it makes them feel more financially secure; 40 percent cite improvements in savings; and 22 percent associate it with increased spending. Some even report retiring earlier or lightening their workloads.Inheritance trends are shaping consumer behavior and have the power to influence spending patterns across industries. To sum it up, inheritance isn't just a family matter, it's a market mover.Thanks for listening. If you enjoy the show, please leave us a review wherever you listen, and share Thoughts on the Market with a friend or colleague today.

From the perspective of the state, the ideal society is one composed of single parents raising a small number of children in irreligious households.Original article: https://mises.org/mises-wire/families-are-key-building-alternatives-state

Want to use your retirement funds to invest beyond the stock market? In this episode, Henry Yoshida, CFP®, shares how his fintech company empowers investors to use their IRAs and 401(k)s to invest in private assets, all while maintaining tax advantages. Learn how he modernized retirement investing and why today's investors must think beyond traditional markets to build true diversification and long-term wealth.   Key Takeaways To Listen For The story behind Honest Dollar Why big financial institutions resist alternative investments How self-directed IRAs empower investors to fund private real estate What true diversification means in investing Psychological advantages of investing through tax-advantaged retirement accounts   Resources/Links Mentioned In This Episode Honest Dollar Greenlights by Matthew McConaughey | Hardcover and Audiobook The Richest Man in Babylon by George S. Clason | Kindle and Paperback Rocket Dollar Knowledge Base   About Henry Yoshida, CFP®Henry Yoshida, CFP®, is the Co-Founder and CEO of Rocket Dollar, a platform that empowers individuals to unlock their retirement savings by investing through Self-Directed IRAs and Solo 401(k)s. A three-time entrepreneur in the retirement services industry, Henry previously founded Honest Dollar, which was acquired by Goldman Sachs, and served as a Vice President of Retirement Business at Merrill Lynch, where he managed over $2.5 billion in client assets. He has been recognized by InvestmentNews as one of the "Top 40 Under 40" financial professionals and is a nationally sought-after voice on retirement innovation, alternative investing, and fintech. Henry frequently appears in major media outlets, including CNBC, Bloomberg, Yahoo! Finance, and TechCrunch, where he shares insights on modern retirement planning and wealth-building strategies.   Connect with Henry Website: Rocket Dollar LinkedIn: Henry Yoshida, CFP® Phone: (855) 762-5383   Connect With UsIf you're looking to invest your hard-earned money into cash-flowing, value-add assets, reach out to us at https://bobocapitalventures.com/.   Follow Keith's social media pages LinkedIn: Keith Borie Investor Club: Secret Passive Cashflow Investors Club Facebook: Keith Borie X: @BoboLlc80554

In this conversation, Andrew Bowen discusses the challenges and opportunities in the rental housing market, particularly focusing on the issues surrounding traditional deposit systems. He explains how his company, LeaseLock, is revolutionizing the rental process by providing lease insurance that benefits both renters and property owners. The discussion also covers the importance of data insights in understanding market trends and the ideal client profile for their services.   Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true 'white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a "mini-mastermind" with Mike and his private clients on an upcoming "Retreat", either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas "Big H Ranch"? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

From the perspective of the state, the ideal society is one composed of single parents raising a small number of children in irreligious households.Original article: https://mises.org/mises-wire/families-are-key-building-alternatives-state

On this episode, Patrick and Hayden break down the midweek Champions League action, from Chelsea's statement win over Barcelona to Manchester City's worrying dependence on Erling Haaland. Are the new league-phase games actually giving us useful information, or are red cards and rotation killing the stakes? Then we turn to Liverpool, whose defensive issues are starting to pile up. With Van Dijk aging, Konaté out of form and out of contract soon, and fullbacks rotating every week, what should they actually do in January? Patrick and Hayden each bring a centre-back target Liverpool should consider. Neel's Man City Article: https://www.thetransferflow.com/p/manchester-city-s-over-reliance-on-erling-haaland-is-crazier-than-you-think Join our Patreon: https://www.patreon.com/TheTransferFlow Subscribe to our FREE newsletter: https://www.thetransferflow.com/subscribe Join Variance Betting: https://www.thetransferflow.com/upgrade Follow us on our Socials: YouTube: https://www.youtube.com/channel/UCe1WTKOt7byrELQcGRSzu1Q X: https://x.com/TheTransferFlow Bluesky: https://bsky.app/profile/thetransferflow.bsky.social Instagram: https://www.instagram.com/thetransferflow/ TikTok: https://www.tiktok.com/@transferflowpodcast Timestamps: 00:00 Intro 01:38 How red cards ruin these league-phase games 03:16 What the points cutoffs actually look like 04:02 Marseille's comeback & Newcastle's European profile 05:07 Chelsea's first half performance vs Barcelona 06:12 The red card + Estevao's brilliant goal 07:51 Cucurella's evolution 09:38 City vs Leverkusen: the Haaland dependency problem 10:37 What City did and didn't learn from this loss 12:08 Ajax–Benfica & the Mourinho control template 13:20 Rayane Bounida and Promise David 14:21 Malik Tillman's development 15:19 City's possession and pressing questions 16:24 Tillman's large role for the USMNT 17:55 Phil Foden + City missing KDB 19:04 What Cherki needs to become 19:56 Liverpool's defensive mess + Guehi links 22:26 Fullback additions 23:02 The expiring contracts problem 24:09 Why Liverpool still need a CB despite signing Leono 24:48 The profile Liverpool should target 26:45 Hayden's list of options 28:58 Hayden's pick: Mario Gila 30:27 Liverpool can be flexible on age here 33:00 FBRef comparisons 34:16 Why expiring in 2027 matters 36:05 The challenge Liverpool are facing with squad building #liverpool #chelsea #championsleague #vandijk #arneslot #konate #premierleague #barcelona #newcastle #marseille #mancity #leverkusen #ucl #lfc #marcguehi #guehi #football #soccer #fyp #foryou

Pregnancy comes with a lot of rules, warnings, and fear based posts online. But how much of that advice is actually rooted in science, and how much is leftover noise that keeps parents stressed for no reason? In today's episode, I sit down with Dr. Jessica Knurick, a nutrition researcher and registered dietitian who has spent years breaking down food myths in the pregnancy and postpartum space. Together we walk through the biggest areas of confusion, why so much misinformation spreads so fast, and how to make calmer, more confident choices during pregnancy. We talk about: The most common food rules that get blown out of proportion Why certain foods get labeled as “dangerous” without context What the real risk of listeria looks like, and how to lower it Sushi, soft cheese, runny eggs, deli meat, and why the blanket rules don't tell the full story How to think about risk in pregnancy without spiraling The truth about the glucose test and why the alternatives online fall short What high mercury fish means and why fish is still an important part of pregnancy nutrition Where fear based content online pulls parents in and how to protect your headspace To connect with Dr. Jessica Knurick follow her on Instagram @drjessicaknurick and check out all her resources at https://www.jessicaknurick.com/ My Experience with Gestational Diabetes: https://youtu.be/QCtGft6p7c0  00:00 Why fear around food and the glucose test is rising 01:25 Why Dr. Jessica Knurick's work matters in pregnancy nutrition 03:44 How misinformation spreads during pregnancy 06:13 The gray area behind food rules and risk 08:36 Soft cheese, deli meat, and runny eggs: what's actually risky 11:06 The truth about listeria and real foodborne illness risks 14:12 Sushi, fish, mercury, and what research actually shows 17:04 How to approach food safety without spiraling 20:29 Real life examples of weighing pros and cons in pregnancy 23:34 What the glucose test really measures 25:53 Why screening happens at 24–28 weeks 27:52 Common myths about the glucose drink 30:30 Alternatives like jelly beans, pancakes, and OJ: why they don't work 33:54 When at home monitoring is appropriate 42:17 A helpful tip for managing symptoms after the test 43:24 Final message on protecting your mental space in pregnancy Our podcasts are also now on YouTube. If you prefer a video podcast with closed captioning, check us out there and ⁠subscribe to PedsDocTalk⁠. Get trusted pediatric advice, relatable parenting insights, and evidence-based tips delivered straight to your inbox—join thousands of parents who rely on the PDT newsletter to stay informed, supported, and confident. ⁠⁠⁠⁠Join the newsletter⁠⁠⁠⁠! And don't forget to follow ⁠⁠⁠⁠@pedsdoctalkpodcast⁠⁠⁠⁠ on Instagram—our new space just for parents looking for real talk and real support. We love the sponsors that make this show possible! You can always find all the special deals and codes for all our current sponsors on the ⁠PedsDocTalk Podcast Sponsorships⁠ page of the website.  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Our Chief U.S. Economist Michael Gapen breaks down how growth, inflation and the AI revolution could play out in 2026.Read more insights from Morgan Stanley.----- Transcript -----Michael Gapen: Welcome to Thoughts on the Market. I'm Michael Gapen, Morgan Stanley's Chief U.S. Economist.Today I'll review our 2026 U.S. Economic Outlook and what it means for growth, inflation, jobs and the Fed.It's Tuesday, November 25th, at 10am in New York.If 2025 was the year of fast and furious policy changes, then 2026 is when the dust settles.Last year, we predicted slow growth and sticky inflation, mainly because of strict trade and immigration policies – and this proved accurate. But this year, the story is changing. We see the U.S. economy finally moving past the high-uncertainty phase. Looking ahead, we see a return to modest growth of 1.8 percent in 2026 and 2 percent in 2027. Inflation should cool but it likely won't hit the Fed's 2 percent target. By the end of 2026, we see headline PCE inflation at 2.5 percent, core inflation at 2.6 percent, and both stay above the 2 percent target through 2027. In other words, the inflation fight isn't over, but the worst is behind us.So, if 2025 was slow growth and sticky inflation, then 2026 and [20]27 could be described as moderate growth and disinflation. The impact of trade and immigration policies should fade, and the economic climate should improve. Now, there are still some risks. Tariffs could push prices higher for consumers in the near term; or if firms cannot pass through tariffs, we worry about additional layoffs. But looking ahead to the second half of 2026 and beyond, we think those risks shift to the upside, with a better chance of positive surprises for growth.After all, AI-related business spending remains robust and upper income consumers are faring well. There is reason for optimism. That said, we think the most likely path for the economy is the return to modest growth. U.S. consumers start to rebound, but slowly. Tariffs will keep prices firm in the first half of 2026, squeezing purchasing power for low- and middle-income households. These households consume mainly through labor market income, and until inflation starts to retreat, purchasing power should be constrained.Real consumption should rise 1.6 percent in 2026 and 1.8 [percent] in 2027 – better, but not booming. The main culprit is a labor market that's still in ‘low-hire, low-fire' mode driven by immigration controls and tariff effects that keep hiring soft. We see unemployment peaking at 4.7 percent in the second quarter of 2026, then easing to 4.5 percent by year-end. Jobs are out there, but the labor market isn't roaring. It'll be hard for hiring to pick up until after tariffs have been absorbed.And when jobs cool, the Fed steps in. The Fed is cutting rates – but at a cost. After two 25 basis point rate cuts in September and October, we expect 75 basis points more by mid 2026, bringing the target range to 3.0-3.25 percent. Why? To insure against labor market weakness. But that insurance comes with a price: inflation staying above target longer. Think of it as the Fed walking a tightrope—lean too far toward jobs, and inflation lingers; lean too far toward inflation, and growth stumbles. For now the Fed has chosen the former.And how does AI fit into the macro picture? It's definitely a major growth driver. Spending on AI-related hardware, software, and data centers adds about 0.4 percent to growth in both 2026 and 2027. That's roughly 20 percent of total growth. But here's the twist: imports dilute the impact. After accounting for imported tech, AI's net contribution falls sharply. Still, we expect AI to boost productivity by 25-35 basis points by 2027, over our forecast horizon, marking the start of a new innovation cycle. In short: AI is planting the seeds now for bigger gains later.Of course, there are risks to our outlook. And let me flag three important ones. First, demand upside – meaning fiscal stimulus and business optimism push growth higher; under this scenario inflation stays hot, and the Fed pauses cuts. If the economy really picks up, then the Fed may need to take back the risk management cuts it's putting in now. That would be a shock to markets. Second, there's a productivity upside – in which case AI delivers bigger productivity gains, disinflation resumes, and rates drift lower. And lastly, a potential mild recession where tariffs and tight policy bite harder, GDP turns negative in early 2026, and the Fed slashes rates to near 1 percent. So in summary: 2026 looks to be a transition year with less drama but more nuance, as growth returns and inflation cools, while AI keeps rewriting the playbook.Thanks for listening. If you enjoy the show, please leave us a review wherever you listen and share Thoughts on the Market with a friend or colleague today.

Anyone with a lawn will know how often they need mowing at this time of year. 

In this multi-part series, we've focused on just one movie to explore a key idea in film studies. But this one choice means we've left out multitudes. Here is the larger set of also-rans we wrestled with before finally choosing “Heathers”.***Referenced media in GATEWAY CINEMA, Episode 18A:“Rock ‘n' Roll High School” (Allan Arkush, 1979)“Summer School” (Carl Reiner, 1987)“Dazed and Confused” (Richard Linklater, 1993)“Sleeper” (Woody Allen, 1973)“Birdman or (The Unexpected Virtue of Ignorance)” (Alejandro G. Iñárritu, 2014)“Night Porter” (Liliana Cavani, 1974)Audio quotation in GATEWAY CINEMA, Episode 18A:“Vintage Movie Projector | Sound Effect | Feel The Past Film Industry” by n Beats, https://www.youtube.com/watch?v=JhUICp5XeJ4“Film Clapperboard Green Screen Effect With Sound” by Jacob Anderson, https://www.youtube.com/watch?v=P1sEiCa-yic“Slide projector changing with clicks” by (Soundsnap), https://www.soundsnap.com/tags/slide_projector?page=2“Rock ‘n' Roll High School” (Allan Arkush, 1979), including the songs “Do You Wanna Dance” (1958) by Bobby Freemand and performed by the Ramones; and “Rock ‘n' Roll High School” (1979) by the Ramones, https://www.youtube.com/watch?v=Npip1IYpjxA&list=PLx3YzFbzX7zjWDz4ifN3EVJB2523_wzHH 

Our CIO and Chief U.S. Equity Strategist Mike Wilson explains why investors might want to reassess their portfolios, keeping in mind the gap between market moves and monetary policy.Read more insights from Morgan Stanley.----- Transcript -----Welcome to Thoughts on the Market. I'm Mike Wilson, Morgan Stanley's CIO and Chief U.S. Equity Strategist. Today on the podcast, why the Fed may hold the key for both near term and medium-term stock market performance. It's Monday, November 24th at 1pm in New York. So, let's get after it. At the end of September, we discussed the building tension between the Fed and markets in terms of both the fed funds rate and liquidity, suggesting this had the potential to lead to a correction in the short-term. This scenario is playing out with high momentum and low-quality stocks responding more to tightening liquidity back in September, while the high-quality S&P 500 and Nasdaq 100 responded more to the incremental hawkishness on rate cuts relayed at the October 29th Fed meeting.While downside for the S&P 500 has been limited to just 5 percent, the damage under the surface has been more significant with two-thirds of the largest 1000 stocks seeing more than a 10 percent drawdown and one quarter down more than 20 percent. Similarly, Bitcoin is down close to 30 percent and topped even earlier than high momentum stocks. Gold also felt the impact of tighter liquidity earlier than the S&P 500, as one would expect.We're staying vigilant around this dynamic related to monetary policy and can't rule out more index-level downside in the short-term, especially if breadth remains weak. Having said that, we think the weakness under the hood is a sign that we're closer to the end of this correction than the beginning for the weaker areas of the market. Historically, the Generals tend to fall the most at the end of corrections. As I said on this podcast back in September, we would view this type of correction and reset on expectations as an opportunity to double down on our rolling recovery thesis which remains out of consensus.From our perspective, private labor data are showing signs of weakness that suggest the Fed should be cutting rates more aggressively. This is very much in line with my core view that the rate of change trough in the labor data occurred back in April with the lows in the equity market. The official government labor data that the Fed is waiting for is lagging and will simply confirm what we, and the markets, already know. With the official October jobs data cancelled due to the shutdown and the November series not available until December 16th, the equity market may continue to wrestle with the Fed that dragging its feet and delaying rate cuts.The good news is that we expect a meaningful decline in the Treasury's General Account in the coming weeks as the government re-opens. This should help to provide a much-needed boost to liquidity at the same time the Fed ends quantitative tightening. The question is whether these changes will be enough to improve liquidity conditions in a durable way. In my view, the clearest indication will be if we see relief in areas of the equity market and asset classes most sensitive to these dynamics over the next two weeks. That means low quality profitless growth stocks in the equity world should rally the most.Bottom line, I remain convinced in our bullish 12-month outlook for the S&P 500 and stocks more broadly. Initial feedback from investors to our recently published 2026 outlook indicates that several of our core views for 2026 remain out of consensus. More specifically, our early cycle narrative versus consensus thinking that we're late cycle; 17 percent earnings growth next year versus the consensus at 14 percent. And finally, our upgrades of small/mid cap stocks and consumer discretionary goods to overweight. Use near term weakness related to a Fed that is moving too slow for the markets' liking to reposition portfolio to sectors and stocks that have lagged behind for most of the past several years – but will benefit the most from the more aggressive Fed action that we expect to come.Thanks for tuning in; I hope you found it informative and useful. Let us know what you think by leaving us a review. And if you find Thoughts on the Market worthwhile, tell a friend or colleague to try it out!

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2808: Andy Hill explores three thoughtful alternatives to fully merging finances in marriage, drawing on real-life examples from the personal finance community. Whether couples want to maintain autonomy, streamline shared expenses, or build in guilt-free spending, these options aim to reduce tension and better align financial habits with relationship values. Read along with the original article(s) here: https://marriagekidsandmoney.com/3-smart-alternatives-to-merging-money-in-marriage-2/ Quotes to ponder: "What I'm finding more and more in marriage is that we need to choose what works best for us and not let other opinions interfere." "Money is also a form of independence, and so having to negotiate with another person regarding money can create a power struggle that is really about so much more than money." "Life is good." Episode references: 43 Blue Doors: https://www.43bluedoors.com Route to Retire: https://www.routetoretire.com  

As market murmurs about an AI bubble, our Head of Corporate Credit Research Andrew Sheets offers some perspective on the impacts of the increasing demand for debt.Read more insights from Morgan Stanley.----- Transcript -----Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Head of Corporate Credit Research at Morgan Stanley. Today, a look at a very different type of challenge for credit markets. It's Friday, November 21st at 6pm in Singapore. It has now been well over 15 years since the Global Financial Crisis shook the credit markets to its very core. It's hard to state just how extreme that period was. How many usual relationships and valuation approaches broke. It saw the worst credit losses in 80 years; I think, and hope, that this record will hold for the next 80. This shock, however, did have a silver lining for the credit market. After a crisis that was driven by bank balance sheets being too large and complex, they shrank and simplified. After companies saw capital markets suddenly shut, they increased their cash levels and often managed themselves more conservatively. The housing market long, the engine of debt growth in the U.S. saw much tighter lending standards and less overall borrowing. And so, all these trends had a common theme. Less bond supply. The credit market has seen numerous bouts of volatility in the years since. But these have generally been driven by concerns around the macro economy, like the eurozone crisis or COVID. Or they've been driven by companies' specific issues such as weakness around the oil sector in the mid 2010s or the collapse of Silicon Valley Bank in 2023. The idea that there would be too much borrowing for the level of demand and that this causes market weakness, well, it just hasn't been an issue. Until – that is – now. As we've discussed on this program, there is an enormous increase underway in the amount of capital expenditure by technology companies as they look to build out the infrastructure that supports their cloud and AI ambitions. Morgan Stanley Equity Research estimates that the largest spenders will commit about $470 billion of spending this year and [$]620 billion of spending next year. That's over $1 trillion of spending in just a two-year period. And it's still growing. We see a lot of momentum behind this spending, as the companies doing it have both enormous financial resources and see it as central to their future ambitions. But all this spending, however, will need to come from somewhere. These are often very profitable companies and so we think about half will be funded from their cash flows. The other half, well, debt markets will play a big role, especially as these companies are often highly rated and so have significant capacity to borrow more. And over the last few weeks, those spigots have now turned on. Several large technology hyperscalers have been borrowing tens of billions at a clip, and they've been doing this in short succession. There is some good news here. This new borrowing has been coming at a discount, with the issuers willing to pay investors a bit more than their existing debt to take it on. Demand in turn has been very high for this debt. And in most cases, this borrowing is still well below anything that could feasibly trigger rating agency action. But it is raising a very different type of issue after a long period where, generally speaking, investors have rarely worried about excessive supply – these are very large deals coming at very large discounts, and they are moving the market. If a AA rated company is in the market willing to pay the same as a current single A, well, that existing single A credit just simply looks less attractive. As far as problems go, we think this is a generally less scary one for the market to face but is a new challenge – something we haven't encountered for some time. And based on the aforementioned spending plans, it may be with us for some time to come. Thank you as always, for your time. If you find Thoughts on the Market useful, let us know by leaving a review wherever you listen, and also tell a friend or colleague about us today.

Live from Morgan Stanley's Asian Pacific Summit, our Chief Fixed Income Strategist Vishy Tirupattur explains why micro trends are likely to be more on focus than macro shocks next year.Read more insights from Morgan Stanley.----- Transcript -----Vishy Tirupattur: Welcome to Thoughts on the Market. I am Vishy Tirupattur, Morgan Stanley's Chief Fixed Income Strategist, coming to you from the Morgan Stanley Asia Pacific Summit underway in Singapore. Much of the client conversation at the summit was about the market outlook for 2026. In the last few days, you've heard from my colleagues about our outlook for the global economy, equities and cross asset markets. On today's podcast, I will focus on the outlook and key themes ahead for the global fixed income market. It's Thursday, November 20th at 10am in Singapore. Last year, the difficulty of predicting policy really complicated our task. This year brings its own challenges. But what we see is micro trends driving the markets in ways that adapt to a generally positive stance on risk. Our economists' base case sees continued disinflation and growth converging towards potential by 2027, with the possibility that the potential itself improves. Notably, they present upside scenarios exploring stronger demand and rising productivity, while the downside case remains relatively benign. The U.S. remains pivotal, and the U.S. led shocks – positive and negative – should drive outcomes for the global economy and markets in 2026, In 2025, the combination of a resilient U.S. consumer supported by healthy balance sheets and rising wealth alongside robust AI driven CapEx has underpinned growth and helped avoid recession despite the headwinds of trade policy. These same dynamics should continue to support the baseline outlook in 2026, even though the path will be likely uneven. The Fed faces a familiar conundrum softening labor markets versus solid spending. The baseline assumes cuts to neutral as unemployment rises, followed by a recovery in the second half. Outside the U.S., most economies trend towards potential growth and neutral policy rates by end of 2026, but the timing and the trajectory vary. And as in recent years, global outcomes will likely hinge on U.S.-led effects and their spillovers. Our macro strategists expect government bond yields to stay range bound, and it is really a story of two halves. A front-loaded rally as the Fed cuts 50 basis points, pushing 10-year yields lower by mid-year before drifting higher into the fourth quarter. Curve steepening remains our high conviction call, especially two stents curve. The dollar follows a similar arc, softening mid-year, and then rebounding into the year end. AI financing moves to the forefront putting credit markets in focus, a topic that has come up repeatedly in every single meeting I've had in Singapore so far. So, from unsecured to structured and securitized credit in both public markets and private markets, credit will likely play a central role in enabling the next wave of AI related investments. Our credit and securitized credit strategists see data center financing in 2026 dominated by investment rate issuance. While fundamentals in corporate and securitized credit remain solid, the very scale of issuance ahead points to spread widening investment rate and in data center related ABS. Carry remains a key driver for credit returns, but dispersion should rise. Segments relatively insulated from the AI related supply such as U.S. high yield, agency brokerage backed securities, non-agency CMBS and RMBS are poised to outperform. We favor agency MBS and senior securitized tranches over U.S. investment grade, especially as domestic bank demand for agency MBS returns post finalization of the Basel III. 2025 was a tough year to navigate, and while we are constructive on 2026, it won't be a walk in the park. The challenges ahead look different. Less about macro shocks, more about micro shifts and market nuance. More details in our outlooks published just a few days ago. Thanks for listening If you like the podcast, please leave us a review wherever you listen and share Thoughts on the Market with a friend or colleague today.

If the Affordable Care Act subsidies are allowed to expire at the end of the year, premiums would double for the average enrollee, with some paying over $1,000 more every month. The subsidies were at the heart of the recent government shutdown, but Democrats were not successful in securing a deal. William Brangam spoke with Jonathan Cohn and Brian Blaze for their views on the debate. PBS News is supported by - https://www.pbs.org/newshour/about/funders. Hosted on Acast. See acast.com/privacy

Adam, Joanna, and Zach discuss a recent column by Esther Mobley in the San Francisco Chronicle positing that there are simply too many wineries in California for the current market to support. Is this in fact true? If so, what happens next? Please remember to subscribe to, rate, and review The VinePair Podcast on Apple Podcasts, Spotify, or wherever you get your episodes, and send any questions, comments, critiques, or suggestions to podcast@vinepair.com. Thanks for listening, and cheers!Zach is reading: What Exactly Is a ‘Turbo Guinness?'Joanna is reading: The Protein Era Is Coming for Your Happy HourAdam is reading: 10 Alternatives to Gravner, Italy's Iconic Orange WineInstagram: @adamteeter, @jcsciarrino, @zgeballe, @vinepair Hosted on Acast. See acast.com/privacy for more information.

"I want to age timelessly...the person that you're most attracted to is the person who's got that amazing energy." Cathy Goldstein   Kathy Goldstein is a leader in the field of functional aesthetics, recognized for her innovative work in holistic beauty and longevity. With nearly 40 years of experience in holistic medicine, acupuncture, and skincare innovation, Kathy has developed the Natural Facelift System. Her pioneering approach integrates energy medicine, facial expression science, and functional aesthetics to enhance not only skin vitality but also brain function and emotional well-being. Kathy is also a sought-after speaker and a thought leader who has profoundly contributed to the understanding of holistic beauty practices.   Episode Summary: In this enlightening episode of "All My Health There Is Hope," host Jana Short is joined by Kathy Goldstein, a visionary in holistic skincare and functional aesthetics. Together, they delve into Kathy's groundbreaking Natural Facelift System, which goes beyond traditional beauty treatments to incorporate elements of energy medicine and facial expression science. The discussion highlights the importance of understanding the interconnectedness of physical appearance, emotional health, and overall well-being through Kathy's innovative use of biophoton communication and frequency-based cellular repair. This deep dive into holistic beauty unveils new perspectives on aging and offers listeners exciting alternatives to conventional practices like Botox. Throughout the episode, Kathy candidly shares her personal health journey, revealing how her experiences with Crohn's disease led her to explore holistic methods that prioritize true healing over mere symptom management. A significant portion of the conversation addresses the potential downsides of Botox, particularly its impact on facial muscles and emotional expression. Kathy emphasizes the significance of facial expressions in emotional communication and cognitive processing, thus encouraging listeners to consider more natural approaches to skincare and self-care. This episode is a must-listen for anyone interested in holistic health, beauty innovation, and the science of emotional connections.   Key Takeaways: Holistic beauty transcends physical appearance; it integrates emotional and cognitive well-being. Traditional anti-aging treatments like Botox may have unintended consequences on facial communication and emotional processing. Kathy Goldstein's Natural Facelift System combines energy medicine and functional aesthetics for a comprehensive approach to skin health. Understanding and enhancing facial expressions contribute to improved emotional intelligence and relationship building. Natural skincare solutions, including frequency-based treatments, offer effective alternatives to invasive procedures.   Resources: https://truenergyskincare.com/ https://www.instagram.com/truenergyskincare/ https://www.facebook.com/truenergyskincare/   ✨ Enjoying the show? Stay inspired long after the episode ends! Jana is gifting you **free subscriptions to Ageless Living Magazine and **Best Holistic Life Magazine—two of the fastest-growing publications dedicated to holistic health, personal growth, and living your most vibrant life. Inside, you'll find powerful stories, expert insights, and practical tools to help you thrive—mind, body, and soul.

Our CIO and Chief U.S. Equity Strategist Mike Wilson explains why he continues to hold on to an out-of-consensus view of a growth positive 2026, despite near-term risks.Welcome to Thoughts on the Market. I'm Mike Wilson, Morgan Stanley's CIO and Chief U.S. Equity Strategist. Today I'll discuss our outlook for 2026 that we published earlier this week. It's Wednesday, Nov 19th at 6:30 am in New York. So, let's get after it. 2026 is a continuation of the story we have been telling for the past year. Looking back to a year ago, our U.S. equity outlook was for a challenging first half, followed by a strong second half. At the time of publication, this was an out of consensus stance. Many expected a strong first half, as President Trump took office for his second term. And then a more challenging second half due to the return of inflation. We based our differentiated view on the notion that policy sequencing in the new Trump administration would intentionally be growth negative to start. We likened the strategy to a new CEO choosing to ‘kitchen sink' the results in an effort to clear the decks for a new growth positive strategy. We thought that transition would come around mid-year. The U.S. economy had much less slack when President Trump took office the second time, compared to the first time he came into office. And this was the main reason we thought it was likely to be sequenced differently. Earnings revisions breadth and other cyclical indicators were also in a phase of deceleration at the end of 2024. In contrast, at the beginning of 2017—when we were out of consensus bullish—earnings revisions breadth and many cyclical gauges were starting to reaccelerate after the manufacturing and commodity downturn of 2015/2016. Looking back on this year, this cadence of policy sequencing did broadly play out—it just happened faster and more dramatically than we expected. Our views on the policy front still appear to be out of consensus. Many industry watchers are questioning whether policies enacted this year will ultimately lead to better growth going forward, especially for the average stock. From our perspective, the policy choices being made are growth positive for 2026 and are largely in line with our ‘run it hot' thesis. There's another factor embedded in our more constructive take. April marked the end of a rolling recession that began three years prior. The final stages were a recession in government thanks to DOGE, a rate of change trough in expectations around AI CapEx growth and trade policy, and a recession in consumer services that is still ongoing. In short, we believe a new bull market and rolling recovery began in April which means it's still early days, and not obvious—especially for many lagging parts of the economy and market. That is the opportunity. The missing ingredient for the typical broadening in stock performance that happens in a new business cycle is rate cuts. Normally, the Fed would have cut rates more in this type of weakening labor market. But due to the imbalances and distortions of the COVID cycle, we think the Fed is later than normal in easing policy, and that has held back the full rotation toward early cycle winners. Ironically, the government shutdown has weakened the economy further, but has also delayed Fed action due to the lack of labor data releases. This is a near-term risk to our bullish 12-month forecasts should delays in the data continue, or lagging labor releases do not corroborate the recent weakness in non-govt-related jobs data. In our view, this type of labor market weakness coupled with the administration's desire to ‘run it hot' means that, ultimately, the Fed is likely to deliver more dovish policy than the market currently expects. It's really just a question of timing. But that is a near-term risk for equity markets and why many stocks have been weaker recently. In short, we believe a new bull market began in April with the end of a rolling recession and bear market. Remember the S&P [500] was down 20 percent and the average S&P stock was down more than 30 percent into April. This narrative remains underappreciated, and we think there is significant upside in earnings over the next year as the recovery broadens and operating leverage returns with better volumes and pricing in many parts of the economy. Our forecasts reflect this upside to earnings which is another reason why many stocks are not as expensive as they appear despite our acknowledgement that some areas of the market may appear somewhat frothy. For the S&P 500, our 12-month target is now 7800 which assumes 17 percent earnings growth next year and a very modest contraction in valuation from today's levels. Our favorite sectors include Financials, Industrials, and Healthcare. We are also upgrading Consumer Discretionary to overweight and prefer Goods over Services for the first time since 2021. Another relative trade we like is Software over Semiconductors given the extreme relative underperformance of that pair and positioning at this point. Finally, we like small caps over large for the first time since March 2021, as the early cycle broadening in earnings combined with a more accommodative Fed provides the backdrop we have been patiently waiting for. We hope you enjoy our detailed report published earlier this week and find it helpful as you navigate a changing marketplace on many levels. Thanks for tuning in. Let us know what you think by leaving us a review. And if you find Thoughts on the Market worthwhile, tell a friend or colleague to try it out!

Our Chief Global Economist Seth Carpenter and Global Cross-Asset Strategist Serena Tang return to conclude their two-part episode on 2026 outlooks and explain why the market environment is turning in favor of risk assets, especially U.S. stocks.Read more insights from Morgan Stanley.----- Transcript -----Seth Carpenter: Welcome to Thoughts in the Market. I'm Seth Carpenter, Morgan Stanley's Global Chief Economist.Serena Tang: And I'm Serena Tang, Morgan Stanley's Chief Global Cross-Asset Strategist.Seth Carpenter: Yesterday, Serena, we discussed our views on the global economy, and today I'm going to turn the tables on you and start asking you questions about our market outlook and how to invest across regions and across asset classes.It's Tuesday, November 18th at 10am in New York.Alright, Serena in 2025, global markets rode some significant volatility driven by tariffs, policy uncertainty. Things went up, they went down. Equities ultimately outperformed bonds as rate cuts began. But cross-asset strategy depended so much on identifying correlations, opportunities – all in a world that is still adapting to the new geopolitical dynamics and what seemed like evolving rules.So, with that backdrop, could you just broadly tell us what the investment strategy should be in 2026?Serena Tang: We think 2026 will be a strong year for risk assets as you have unusually pro-cyclical policy mix that's supportive of earnings. And that frees up markets to shift the focus from global macro concerns, which of course have dominated this year, to more micro asset specific narratives. Particularly those related to AI CapEx investment.And I think such a constructive environment really calls for a risk on tilt. We recommend equities over credit and government bonds, with a preference for U.S. assets.Seth Carpenter: Okay. I think last year we had some preference, at least for U.S. equities. Are there any other big rotations versus more of the same that you really want to highlight for folks?Serena Tang: In terms of, I think the strategy outlook itself, a big shift has been what we think drive investor focus the most. Our strategy mid-year outlook had focused heavily on global macro risks, right? Especially those, I think, emanated from trade tensions, which you alluded to earlier.I think this time around as the distribution of outcomes on tariffs, I think, has become a bit narrower, it's very much more about asset specific stories. And yes, you know, to your point about being, bullish on U.S. equities, we've maintained that view this time round and believe that U.S. equities can generally do better than rest of world.As you know, Mike Wilson, a colleague and chief U.S. equity strategist, he has a price target of 7800 for the S&P 500 index …Seth Carpenter: Wow.Serena Tang: Beating the expected returns from other regional equities by like quite a bit. So that's not changed. But I think that with this backdrop of post cyclical policy combo lifting U.S. earnings, we've also turned more bullish on high-yield corporate credit – that is bonds which are riskier.I think very much like U.S. equities, we believe that the asset class can benefit from the combination of monetary deregulation policy. But there's also like a very interesting technical component there, which is, as we expect, a surge in investment grade issuance to fund AI related CapEx. I think the high-yield market will be more insulated from this, which means outperformance versus higher quality corporate bonds.Seth Carpenter: Got it. Okay. So, as you're coming up with these strategies and these recommendations in lots of ways, it just relies on forecasting. And I have to say I'm sympathetic to how hard forecasting is, especially when it comes to the future. In our economic forecast, we also included a bunch of different alternate scenarios because I just see that much uncertainty in the global economy.So, with that as a backdrop, nothing is for sure. But where would you say your highest conviction calls are when it comes to investing in 2026?Serena Tang: Well, as I mentioned, we like U.S. equities and that remains a very high conviction call for us. [I] sort of dug through the details of that already. And so, I want to turn to a[n]other high conviction view, which is curve steepening. We see pretty material U.S. treasury curve steepening over the next year. I think even as a macro strategist, actually expect yields at least in the backend to be mostly range bound. And this steepening will be very much driven by what happens in the two-year point – I think as markets continue to, we think, underpriced, future Fed easing and growth slow down tail risks.Seth Carpenter: So that's super helpful in terms of the places where you're convicted. Let me be perhaps a little bit unfair because nothing is in fact certain. And so, if there are things that we feel pretty sure about, there've got to be things where we're either not sure or parts of the market that really pose the most risk.So, if I asked you then, where do you see the biggest risk for investors in markets next year, what would you say?Serena Tang: So, one of them really is AI investment cycle abruptly ending. And this has been a topic of huge debate in all of the investor meetings that we've had over the last several weeks. Because the idea is you have a sharp pullback in investment in the next 12 months, which could trigger a pretty cascading effect. And of course that would likely pressure U.S. equities, I think given hyperscalers index weight. But could weirdly enough benefit IG credit by reducing issuance, which has been the main driver of wider spreads in our forecast. But I think the other risk here actually is if animal spirits run a bit too hot. Underlying our equities over credit over rates allocation is some revival in animal spirits, but it's not the kind of irrational exuberance that marks the end of cycle in our view.Given, I think there's still rational belief in that policy triumvirate that we touched on earlier, that can still be supportive of risk. But you know, I think if sentiment does overheat then our allocation tilt towards cyclicals and beta would be wrong. And historically late cycle expansions see investment grade outperforming high yield inequities, with bonds eventually leading returns.The last risk, I think, to our asset allocation, is really the Fed. Either the FOMC not easing further over the next 12 months or if it changes its reaction function. And I think both of those will have very different implications of what happens to the front end of the yield curve. So, my question to you, Seth, is what do you see as the probability around both of those scenarios?Seth Carpenter: Look, with the data that we have before the government shut down, it was clear there was a tension. Spending by households, spending by businesses was strong. Employment data were getting weaker and weaker, and the Fed has decided to start cutting to err on the side of insulating against further deterioration in the labor market.So, one thing that could upend our forecast is that the real signal is from the spending. Spending stays strong, the labor market eventually catches up to the stronger spending, and we start to see job gains come back. If that happens, especially with inflation now running notably above the Fed's target, I just don't really think we're going to get anywhere near the number of rate cuts that we forecast or that are already priced into market. So, you'd have to see a reversal.How likely is that you can't rule it out? I'd say 20 percent or something like that. Maybe a little bit more. On the other hand, to the downside. I wonder if what you're getting at a little bit is there's going to be some turnover in the personnel at the Fed. And do we have to worry about a fundamentally different reaction function from the Fed going forward and cutting rates aggressively, even if the macro considerations don't warrant? Is that really what you were getting at?Serena Tang: Yes. I think that has been the question on the forefront of investors' minds…Seth Carpenter: Yeah, I think that's a real question. The way I look at it is Chair Powell is in charge of the Fed now. His term goes through May of next year. And so, until we get to the middle of next year, I don't really think there's any fundamental change in how the Fed does business. But it really does seem like we're going to have a new Fed chair in June of next year. But even there, we have got to remember that the committee is a committee and that's how policy is decided. And so, if there was a new chair who really, really, really wanted to take policy in a truly unorthodox way, I also don't think that's really feasible over the second half of next year – because there just won't have been that much turnover in terms of the personnel of the Fed. That's how we're looking at it for now. I really don't think that latter version of the world is a big risk. That said, I'm going to throw it back to you [be]cause I always have to get the last word.You talked about asset classes, bullish on U.S. equities. We talked about high yield bonds; we talked about some of the risks that markets have to face. But one thing I didn't hear – and we do have a global investor base – Is about currencies and specifically the dollar.So, this time last year, the team made a pretty bold call that the dollar would depreciate a great deal. And here we are and the dollar has come off a lot on net over this year. That stabilized a little bit. Maybe not for the whole year [be]cause that kind of forecasting is hard for currencies. But what do you see over the next few months called the next half year for the dollar? Is it going to continue the trend or do you think we should see a reversal?Serena Tang: So, we do think the dollar will continue its trend downwards from here to the middle of next year. And I know, I know. There's been a lot of discussion, there's been a lot of debate around whether the dollar has basically stopped where we are. But the thing is, you know, going back to what you mentioned around the path for growth in the U.S. and unemployment in the U.S. – if we do see softer economic data in the first half of next year, that can drive the dollar downwards. In fact, we're once again, more bearish than consensus on the dollar by the middle of next year.Seth Carpenter: Got it. All right. That's super helpful. Serena, thank you so much for taking the time to talk with me today and let me ask the questions of you.Serena Tang: Always a pleasure, Seth.Seth Carpenter: And thank you for listening. If you enjoy Thoughts on the Market, please leave us a review wherever you listen and share the podcast with a friend or a colleague today.

In the first of a two-part episode presenting our 2026 outlooks, Chief Global Cross-Asset Strategist Serena Tang has Chief Global Economist Seth Carpenter explain his thoughts on how economies around the world are expected to perform and how central banks may respond.Read more insights from Morgan Stanley.----- Transcript -----Serena Tang: Welcome to Thoughts on the Market. I'm Serena Tang, Morgan Stanley's Chief Global Cross-Asset Strategist. Seth Carpenter: And I'm Seth Carpenter, Morgan Stanley's Global Chief Economist. Serena Tang: So today and tomorrow, a two-part conversation on Morgan Stanley's year ahead outlook. Today, we'll focus on the all-important macroeconomic backdrop. And tomorrow, we'll be back with our views on investing across asset classes and markets. Serena Tang: It's Monday, November 17th at 10am in New York. So, Seth, 2025 has been a year of transition. Global growth slowed under the weight of tariffs and policy uncertainty. Yet resilience in consumer spending and AI driven investments kept recession fears at bay. Your team has published its economic outlook for 2026. So, what's your view on global growth for the year ahead? Seth Carpenter: We really think next year is going to be the global economy slowing down a little bit more just like it did this year, settling into a slower growth rate. But at the same time, we think inflation is going to keep drifting down in most of the world. Now that anodyne view, though, masks some heterogeneity around the world; and importantly, some real uncertainty about different ways things could possibly go. Here in the U.S., we think there is more slowing to come in the near term, especially the fourth quarter of this year and the beginning of next year. But once the economy works its way through the tariffs, maybe some of the lagged effects of monetary policy, we'll start to see things pick up a bit in the second half of the year. China's a different story. We see the really tepid growth there pushed down by the deflationary spiral they've been in. We think that continues for next year, and so they're probably not quite going to get to their 5 percent growth target. And in Europe, there's this push and pull of fiscal policy across the continent. There's a central bank that thinks they've achieved their job in terms of inflation, but overall, we think growth there is, kind of, unremarkable, a little bit over 1 percent. Not bad, but nothing to write home about at all. So that's where we think things are going in general. But I have to say next year, may well be a year for surprises. Serena Tang: Right. So where do you see the biggest drivers of global growth in 2026, and what are some of the key downside risks? Seth Carpenter: That's a great question. I really do think that the U.S. is going to be a real key driver of the story here. And in fact – and maybe we'll talk about this later – if we're wrong, there's some upside scenarios, there's some downside scenarios. But most of them around the world are going to come from the U.S. Two things are going on right now in the U.S. We've had strong spending data. We've also had very, very weak employment data. That usually doesn't last for very long. And so that's why we think in the near term there's some slowdown in the U.S. and then over time things recover. We could be wrong in either direction. And so, if we're wrong and the labor market sending the real signal, then the downside risk to the U.S. economy – and by extension the global economy – really is a recession in the U.S. Now, given the starting point, given how low unemployment is, given the spending businesses are doing for AI, if we did get that recession, it would be mild. On the other hand, like I said, spending is strong. Business spending, especially CapEx for AI; household spending, especially at the top end of the income distribution where wealth is rising from stocks, where the liability side of the balance sheet is insulated with fixed rate mortgages. That spending could just stay strong, and we might see this upside surprise where the spending really dominates the scene. And again, that would spill over for the rest of the world. What I don't see is a lot of reason to suspect that you're going to get a big breakout next year to the upside or the downside from either Europe or China, relative to our baseline scenarios. It could happen, but I really think most of the story is going to be driven in the U.S. Serena Tang: So, Seth, markets have been focused on the Fed, as it should. What is the likely path in 2026 and how are you thinking about central bank policy in general in other regions? Seth Carpenter: Absolutely. The Fed is always of central importance to most people in markets. Our view – and the market's view, I have to say, has been evolving here. Our view is that the Fed's actually got a few more rate cuts to get through, and that by the time we get to the middle of next year, the middle of 2026, they're going to have their policy rate down just a little bit above 3 percent. So roughly where the committee thinks neutral is. Why do we think that? I think the slowing in the labor market that we talked about before, we think there's something kind of durable there. And now that the government shutdown has ended and we're going to start to get regular data prints again, we think the data are going to show that job creation has been below 50,000 per month on average, and maybe even a few of them are going to get to be negative over the next several months. In that situation, we think the Fed's going to get more inclination to guard against further deterioration in the labor market by keeping cutting rates and making sure that the central bank is not putting any restraint on the economy. That's similar, I would say, to a lot of other developed markets' central banks. But the tension for the ECB, for example, is that President Lagarde has said she thinks; she thinks the disinflationary process is over. She thinks sitting at 2 percent for the policy rate, which the ECB thinks of as neutral, then that's the right place for them to be. Our take though is that the data are going to push them in a different direction. We think there is clearly growth in Europe, but we think it's tepid. And as a result, the disinflationary process has really still got some more room to run and that inflation will undershoot their 2 percent target, and as a result, the ECB is probably going to cut again. And in our view, down to about 1.5 percent. Big difference is in Japan. Japan is the developed market central bank that's hiking. Now, when does that happen? Our best guess is next month in December at the policy meeting. We've seen this shift towards reflation. It hasn't been smooth, hasn't been perfectly linear. But the BoJ looks like they're set to raise rates again in December. But the path for inflation is going to be a bit rocky, and so, they're probably on hold for most of 2026. But we do think eventually, maybe not till 2027, they get back to hiking again – so that Governor Ueda can get the policy rate back close to neutral before he steps down. Serena Tang: So, one of the main investor debates is on AI. Whether it's CapEx, productivity, the future of work. How is that factoring into your team's view on growth and inflation for the next year? Seth Carpenter: Yeah, I mean that is absolutely a key question that we get all the time from investors around the world. When I think about AI and how it's affecting the economy, I think about the demand side of the economy, and that's where you think about this CapEx spending – building data centers, buying semiconductors, that sort of thing. That's demand in the economy. It's using up current resources in the economy, and it's got to be somewhat inflationary. It's part of what has kept the U.S. economy buoyant and resilient this year – is that CapEx spending. Now you also mentioned productivity, and for me, that's on the supply side of the economy. That's after the technology is in place. After firms have started to adopt the technology, they're able to produce either the same amount with fewer workers, or they're able to produce more with the same amount of workers. Either way, that's what productivity means, and it's on the supply side. It can mean faster growth and less inflation. I think where we are for 2026, and it's important that we focus it on the near term, is the demand side is much more important than the supply side. So, we think growth continues. It's supported by this business investment spending. But we still think inflation ends 2026, notably above the Fed's inflation target. And it's going to make five, five and a half years that we've been above target. Productivity should kick in. And we've written down something close to a quarter percentage point of extra productivity growth for 2026, but not enough to really be super disinflationary. We think that builds over time, probably takes a couple of years. And for example, if we think about some of the announcements about these data centers that are being built, where they're really going to unleash the potential of AI, those aren't going to be completed for a couple of years anyway. So, I think for now, AI is dominating the demand side of the economy. Over the next few years, it's going to be a real boost to the supply side of the economy. Serena Tang: So that makes a lot of sense to me, Seth. But can you put those into numbers? Seth Carpenter: Sure, Serena totally. In numbers, that's about 3 percent growth. A little bit more than that for global GDP growth on like a Q4-over-Q4 basis. But for the U.S. in particular, we've got about 1.75 percent. So that's not appreciably different from what we're looking for this year in 2025. But the number really, kind of, masks the evolution over time. We think the front part of the year is going to be much weaker. And only once we get into the second half of next year will things start to pick up. That said, compared to where we were when we did the midyear outlook, it's actually a notable upgrade. We've taken real signal from the fact that business spending, household spending have both been stronger than we think. And we've tried to add in just a little bit more in terms of productivity growth from AI. Layer on top of that, the Fed who's been clearly willing to start to ease interest rates sooner than we thought at the time of the mid-year outlook – all comes together for a little bit better outlook for growth for 2026 in the U.S. Serena Tang: Seth thanks so much for taking the time to talk. Seth Carpenter: Serena, it is always my pleasure to get to talk to you. Serena Tang: And thanks for listening. Please be sure to tune into the second half of our conversation tomorrow to hear how we're thinking about investment strategy in the year ahead. If you enjoy Thoughts on the Market, please leave us a review wherever you listen and share the podcast with a friend or colleague today.

SSRI prescriptions are more common than ever—but how much do we really understand about how they work, their true efficacy, and their potential downsides? In this episode, we take a deep dive into the world of SSRIs, breaking down their mechanism of action and why their use has skyrocketed in recent years.   We unpack the growing concern around emotional blunting, a well-documented effect that can leave individuals feeling flat, disconnected, or lacking drive. You'll learn why the serotonin deficiency model falls short, what SSRIs actually do in the brain, and why so many people are placed on them without a root-cause approach. We also explore powerful food-as-medicine and lifestyle strategies proven to support mood: from low-glycemic eating and amino acid repletion, to gut health, micronutrients, and more. If you're looking to understand the full picture of SSRIs and discover evidence-backed alternatives for mental wellness, this episode is a must-listen.   Also in this episode:  Free Detox Webinar Naturally Nourished Black Friday Starts Now - use code SAVE10 for 10% off all supplements Naturally Nourished Academy Now Enrolling with Early Bird Pricing Through 12/31 Give the Gift of Wellness with Naturally Nourished Gift Cards Episode 160: Neurotransmitters Part 1 The Anti Anxiety Diet What is Serotonin Sleep Support Low vs. High Serotonin What are SSRIs? Fu-Ming Zhou, Yong Liang, Ramiro Salas, Lifen Zhang, Mariella De Biasi, and John A. Dani: "Corelease of Dopamine and Serotonin from Striatal Dopamine Terminals" SSRIs and Violent Crime Associations between selective serotonin reuptake inhibitors and violent crime in adolescents, young, and older adults - a Swedish register-based study - PubMed Selective Serotonin Reuptake Inhibitors and Violent Crime: A Cohort Study | PLOS Medicine How to Naturally Boost Serotonin and Support Mood Protein Whey Protect Magnesium Role of magnesium supplementation in the treatment of depression: A randomized clinical trial | PLOS One Magnesium supplementation beneficially affects depression in adults with depressive disorder: a systematic review and meta-analysis of randomized clinical trials Relax and Regulate MethylFolate Assessing Effects of l-Methylfolate in Depression Management: Results of a Real-World Patient Experience Trial MethylComplete Movement Effect of exercise for depression: systematic review and network meta-analysis of randomised controlled trials | The BMJ Gaba GabaCalm Keto for Mental Health The use of the ketogenic diet in the treatment of psychiatric disorders - PMC Probiotics as Natures Prozac Acceptability, Tolerability, and Estimates of Putative Treatment Effects of Probiotics as Adjunctive Treatment in Patients With Depression: A Randomized Clinical Trial | Depressive Disorders | JAMA Psychiatry Probiotic Challenge Protocol   Sponsors for this episode:  This episode is sponsored by FOND Bone Broth, your sous chef in a jar. FOND's bone broths and tallows are produced in small batches with premium ingredients from verified regenerative ranches. Their ingredients are synergistically paired for maximum absorption, nutritional benefit, and flavor. Use code ALIMILLERRD to save at https://fondbonebroth.com/ALIMILLERRD.