Podcasts about Credit

Christopher Willars shares his life story and how one bad decision changed his life forever.⁣ ⁣ ⁣ Chris's Links https://linktr.ee/christopher_life_willars⁣ ⁣ ⁣

The US Secretary of State Marco Rubio says lots of countries are interested in contributing troops to the planned international stabilisation force for Gaza. He did not specify who but insisted that Israel had to be comfortable with those chosen. Speaking at the coordination centre set up to oversee the ceasefire between Israel and Hamas, Mr Rubio said talks were continuing on the future governance of Gaza. Also, how warming seas are endangering the lives and livelihoods of South Korean fishermen, and we speak to author Frank Cottrell-Boyce on a new prize for children's literature.(Photo: US Secretary of State Marco Rubio speaks to the media after visiting the Civil-Military Coordination Center in southern Israel, 24 October, 2025. Credit: adel Senna/Reuters)

In this week's Ag Tribes Report, host Vance Crowe is joined by dairy farmer and Bitcoiner JR Burdick for a fast-paced tour through the biggest stories shaping agriculture. They unpack President Trump's viral post urging ranchers to lower beef prices and the backlash from cattle producers who point to low herd size, packer settlements, and market volatility driven by political posts. Then they dig into the looming SNAP crunch amid the government shutdown, how an AWS outage jammed up harvest logistics and farmgate payments, and the partial reopening of FSA offices to process $3B in producer payments—plus the real-world cash flow pinch for beginning farmers. JR also delivers the Bitcoin Land Price Report, shares why he's bullish on both land and Bitcoin, and explains practical resiliency lessons from a payments outage. We close with his Peter Thiel paradox—Gen Z's push to rebuild rural “place” over “career”—and a candid look at rebuilding community, selling raw milk and pastured pork, and accepting Bitcoin on the farm. JR's farm: nourishingfamilyfarm.com and @jrcowfarmer on X.Legacy Interviews - A service that records individuals and couples telling their life stories so that future generations can know their family history. https://www.legacyinterviews.com/experienceRiver.com - Invest in Bitcoin with Confidence https://river.com/signup?r=OAB5SKTPPurchase Bitcoin on River to support the show: https://river.com/invite?r=OAB5SKTP

Hundreds of thousands of federal employees have missed their full paycheques for the first time since the beginning of the government shutdown three weeks ago, with Democrats and Republicans still blaming each other for the lapse in federal funding. We hear from a US federal employee at the Department of Defence on the East Coast. And this week the fight moved to the courts over another politically contentious area – the massive charges the Trump administration wishes to impose on H1B visas – the work visas issued to up to 65,000 foreign workers each year, looking for jobs that US employers say they are unable to fill otherwise. Also, Canada's prime minister, Mark Carney, says he's ready to resume trade negotiations with the United States when Washington is ready. This comes after President Trump announced he was abruptly ending talks because of an anti-tariff advertising campaign by the province of Ontario. (Picture: A sign outside the National Gallery of Art alerts visitors the museum is closed in Washington and remains closed due to the government shutdown on 23 October 2025. Credit: photo by JIM LO SCALZO/EPA/Shutterstock).

This week, Collin Martin sits in for Liz Ann Sonders. Kathy Jones and Collin discuss the upcoming Consumer Price Index (CPI) report and the Federal Reserve's anticipated interest rate cut. They analyze the current state of the credit markets, particularly focusing on recent defaults and the implications for high-yield bonds. The discussion also covers the demand dynamics in private-versus-public credit markets and the potential risks associated with high-yield investments. Finally, they look ahead to upcoming economic indicators and the challenges posed by a lack of data.On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting. If you enjoy the show, please leave a rating or review on Apple Podcasts.Important DisclosuresThis material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.Past performance is no guarantee of future results.Investing involves risk, including loss of principal. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk.High-yield securities and unrated securities of similar credit quality (junk bonds) are subject to greater levels of credit and liquidity risks and may be more volatile than higher-rated securities. High-yield securities are considered predominately speculative with respect to the issuer's continuing ability to make principal and interest payments.Investing in alternative investments is speculative, not suitable for all clients, and generally intended for experienced and sophisticated investors who are willing and able to bear the high economic risks of the investment. Investors should obtain and carefully read the related prospectus or offering memorandum, which will contain the information needed to help evaluate the potential investment and provide important disclosures regarding risks, fees and expenses.Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. Bloomberg US Corporate High-Yield Bond Index- Measures the performance of the US Dollar-Denominated, high yield, fixed-rate corporate bond market. Securities are classified as high-yield if the middle rating of Moody's, Fitch, and S&P is Ba1/BB+/BB+ or below. Bonds from issuers with an emerging markets country of risk, based on Bloomberg EM country definition, are excluded. It is a market-value weighted index.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.(1025-02S5) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

(Disclaimer: Click 'more' to see ad disclosure) Geobreeze Travel is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as MileValue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.  ➤ Free points 101 course (includes hotel upgrade email template)https://geobreezetravel.com/freecourse  ➤ Free credit card consultations https://airtable.com/apparEqFGYkas0LHl/shrYFpUr2zutt5515 ➤ Seats.Aero: https://geobreezetravel.com/seatsaero ➤ Request a free personalized award search tutorial: https://go.geobreezetravel.com/ast-form If you are interested in supporting this show when you apply for your next card, check out https://geobreezetravel.com/cards and if you're not sure what card is right for you, I offer free credit card consultations athttps://geobreezetravel.com/consultations!Timestamps:00:00 Introduction to Current Transfer Bonuses00:18 Citi Transfer Bonuses: Virgin Atlantic and Turkish Airlines05:32 Capital One Transfer Bonus: Japan Airlines09:15 American Express Transfer Bonuses: Air France and KLM13:26 Rove Miles Transfer Bonuses: Air France and Finnair17:50 Conclusion and Additional ResourcesYou can find Julia at: ➤ Free course: https://julia-s-school-9209.thinkific.com/courses/your-first-points-redemption➤ Website: https://geobreezetravel.com/➤ Instagram: https://www.instagram.com/geobreezetravel/➤ Credit card links: https://www.geobreezetravel.com/cards➤ Patreon: https://www.patreon.com/geobreezetravelOpinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post. The content of this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

Matt and Zach talk about how to survive prison.⁣ ⁣ https://www.youtube.com/@BlackZack365 ⁣ ⁣

Ike, Spike and Fritz react to the Sixers win over the Celtics last night and if Daryl Morey deserves credit for the team's retool which includes V.J. Edgecombe.

Neobanks changed how fintech thinks about money. Now, crypto builders want to do the same, without custody. In this episode, Itamar Lesuisse, CEO of Ready, and Mike Silagadze, CEO of EtherFi, argue the real shift isn't about "crypto cards," it's about who controls your assets. EtherFi's and Ready's self-custodial apps merge saving, spending, and investing. The result: faster settlement, lower fees, and more transparency, but also new challenges around compliance, credit, and security. Itamar Lesuisse and Mike Silagadze explain how layer 2 networks made crypto cards economically viable after years of failed attempts and how Africa's FX markets could become the breakthrough use case for crypto banking. Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Mantle Binance Guests: Itamar Lesuisse, Co-founder and CEO of Ready (formerly Argent) Mike Silagadze, Founder and CEO of EtherFi, and Founder of Top Hat Links: The Block: Best crypto cards with token rewards in 2025 Bitcoin Starknet Staking Post by Ready (Formerly Argent)  Timestamps:

An unforgettable journey through time, tragedy, and the otherworldly. This week, Valerie Zell, a seasoned investigator and historian, joins hosts Jeni Monroe and Tressa Slater to reveal the chilling truths and ghostly encounters tied to one of the most haunted sites in American history: Gettysburg. From spectral soldiers to searching for the nature of belief, we dive deep into the paranormal residue left by history.  Ghosts, Gettysburg, and Belief - Monsters Lounge PodcastValerie Zell's links:https://forms.gle/kzyFhvaiqnFJqhbv9https://www.facebook.com/share/18szBDqRvq/?mibextid=wwXIfrFind all Monsters Lounge info and links here:https://www.monstersloungepodcast.com/https://linktr.ee/monsterslounge(and while you're there, RATE, REVIEW, SUBSCRIBE AND FOLLOW)Pathways to Spirit with Sarah LemosIt's time to uncover your gifts and abilities.register now at https://www.mediumsarahlemos.com/Join us, and spread the word about the Cryptid Womens Society!https://cryptidwomenssociety.com/cws-tressa/ PLEASE SUPPORT THE ADVERTISERS THAT SUPPORT THIS SHOW LEAN - Save 25% on Everything Sitewide by using code Laborday25 at check out www.BrickHouseNutrition.com Happiness Experiment -https://bit.ly/HappinessExperimentP60 Factor Meals - Get 50% off your first order & Free Shipping at ⁠⁠www.FactorMeals.com/p6050off⁠⁠ & use code: P6050off at checkout Mint Mobile - To get your new wireless plan for just $15 a month, and get the plan shipped to your door for FREE, go to ⁠⁠www.MintMobile.com/P60⁠⁠ Shadow Zine - ⁠⁠https://shadowzine.com/ ⁠⁠Love & Lotus Tarot -  ⁠⁠http://lovelotustarot.com/⁠⁠ PLEASE RATE & REVIEW THE PARANORMAL 60 PODCAST WHEREVER YOU LISTEN! -Credit and a warm thank you to Jay Juliano for original theme music: Enter The Monster's Lounge-Special thanks to Dave Schrader and The Paranormal 60 Network Learn more about your ad choices. Visit megaphone.fm/adchoices

It might be time to update the age old "Brady vs Belichick" question with Drake Maye and Mike Vrabel. Both have done a lot to get the Patriots where they currently are, but who's more responsible? Then, Drake Maye keeps putting up video game numbers that there's not much else to dislike about his play during the team's four game winning streak. And, fans should be clamoring for the Bruins to take down the Panthers after honoring Brad Marchand.

Jesse breaks down his family history with the Gates and his fathers scam that would make them millionaires...⁣ ⁣

Head of US & European Real Estate Debt, Nasir Alamgir, joins Streaming Income to discuss why investors - especially those focused on private credit - have been increasingly allocating to real estate debt, and how the opportunity set continues to evolve.Episode Segments:(02:39) – The trends shaping the real estate debt landscape – from rates to AI(05:04) – How & why private credit investors are diversifying into real estate debt(12:14) – Quantifying the maturity wall and its potential impact on valuations(17:37) – How rates (and questions on central bank independence) are playing a role(22:08) – Sector lightning round: Construction lending, Multi-family, Industrial, Office, Data Centers(33:05) – Looking at real estate debt through a global lens(37:17) – The importance of scale in real estate debt (due to loan sizes)(39:15) – Trends to watch in 2026 Make sure to follow our LinkedIn newsletter, Where Credit is Due to stay up-to-date on our latest public & private credit market insights.IMPORTANT INFORMATIONAny forecasts in this podcast are based upon Barings' opinion of the market at the date of preparation and are subject to change without notice, dependent upon many factors. Any prediction, projection or forecast is not necessarily indicative of the future or likely performance. Investment involves risk. The value of any investments and any income generated may go down as well as up and is not guaranteed. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. Any examples set forth in this podcast are provided for illustrative purposes only and are not indicative of any future investment results or investments. The composition, size of, and risks associated with an investment may differ substantially from any examples set forth in this podcast. No representation is made that an investment will be profitable or will not incur losses. Barings is the brand name for the worldwide asset management and associated businesses of Barings LLC and its global affiliates. Barings Securities LLC, Barings (U.K.) Limited, Barings Global Advisers Limited, Barings Australia Pty Ltd, Barings Japan Limited, Barings Real Estate Advisers Europe Finance LLP, BREAE AIFM LLP, Baring Asset Management Limited, Baring International Investment Limited, Baring Fund Managers Limited, Baring International Fund Managers (Ireland) Limited, Baring Asset Management (Asia) Limited, Baring SICE (Taiwan) Limited, Baring Asset Management Switzerland Sarl, and Baring Asset Management Korea Limited each are affiliated financial service companies owned by Barings LLC (each, individually, an “Affiliate”).NO OFFER: The podcast is for informational purposes only and is not an offer or solicitation for the purchase or sale of any financial instrument or service in any jurisdiction. The material herein was prepared without any consideration of the investment objectives, financial situation or particular needs of anyone who may receive it. This podcast is not, and must not be treated as, investment advice, an investment recommendation, investment research, or a recommendation about the suitability or appropriateness of any security, commodity, investment, or particular investment strategy.Unless otherwise mentioned, the views contained in this podcast are those of Barings and are subject to change without notice. Individual portfolio management teams may hold different views and may make different investment decisions for different clients. Parts of this podcast may be based on information received from sources we believe to be reliable. Although every effort is taken to ensure that the information contained in this podcast is accurate, Barings makes no representation or warranty, express or implied, regarding the accuracy, completeness or adequacy of the informationAny service, security, investment or product outlined in this podcast may not be suitable for a prospective investor or available in their jurisdiction.Copyright in this podcast is owned by Barings. Information in this podcast may be used for your own personal use, but may not be altered, reproduced or distributed without Barings' consent.25-4898933

Welcome to the Corey Ganim Show. This episode is pulled from Arjun Mahadevan's podcast. He's the CEO of doola, which is a company that helps entrepreneurs from wherever in the world set up LLC's in the US easily. He interviews me and asks about my journey in business.   Check out Arjun's socials and sites:   LinkedIn - https://www.linkedin.com/in/mahadevanarjun/ Instagram - https://www.instagram.com/ceo.arjunmahadevan/?hl=en X - https://x.com/ArjunMahadevan?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor doola - https://www.doola.com/   Check out our Wholesale Accelerator community - https://www.skool.com/the-wholesale-network-101/about   Join the Wholesale Network: https://www.wholesalenetwork.io/   Amazon Business Templates:   Brand criteria - https://corey-ganim.kit.com/d2159c4015 Brand and distributor call scripts - https://corey-ganim.kit.com/7e46a39b1f Distributor criteria - https://corey-ganim.kit.com/3c9d50ab97 Seasonal sourcing calendar - https://corey-ganim.kit.com/11c8affa83 PO template - https://corey-ganim.kit.com/5ebf7e2656 VA job posting templates - https://corey-ganim.kit.com/b618eb05bc   Discount codes:   SmartScout  - 25% OFF first 3 months - https://partners.smartscout.com/?fpr=corey89 Code: WHOLESALE25 SellerSnap  - 15% off first 3 months - https://referrals.sellersnap.io/l/BrandRocket/ Seller Investigators - (Get automatically reimbursed when Amazon owes you money - first $500 in reimbursements FREE) Code: corey https://sellerinvestigators.com/reim/ref/corey Melio - (pay your suppliers with a credit card, they get cash) - https://affiliates.meliopayments.com/4p0gnyr72g7   Credit card links:   Chase Ink Business Premier (unlimited 2.5% cash back on purchases over $5k) - https://www.referyourchasecard.com/21s/4X5UWQS6XL   Capital One Spark (unlimited 2% cash back on everything) - https://i.capitalone.com/JgZ7zoqZu   FOLLOW MY SOCIALS:   Twitter: https://twitter.com/GanimCorey LinkedIn: https://www.linkedin.com/in/corey-ganim/ Instagram: https://www.instagram.com/coreyganim/ TikTok: https://www.tiktok.com/@coreyganim?lang=en

(Disclaimer: Click 'more' to see ad disclosure) Geobreeze Travel is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as MileValue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.  ➤ Free points 101 course (includes hotel upgrade email template)https://geobreezetravel.com/freecourse  ➤ Free credit card consultations https://airtable.com/apparEqFGYkas0LHl/shrYFpUr2zutt5515 ➤ Seats.Aero: https://geobreezetravel.com/seatsaero ➤ Request a free personalized award search tutorial: https://go.geobreezetravel.com/ast-form If you are interested in supporting this show when you apply for your next card, check out https://geobreezetravel.com/cards and if you're not sure what card is right for you, I offer free credit card consultations athttps://geobreezetravel.com/consultations!Timestamps:00:00 Introduction00:37 Meet Kazimira01:39 Kazimira's Travel Background02:30 Challenges of Family Travel02:51 Planning and Strategy06:38 First Class Redemption Story09:02 Maximizing Points and Miles10:52 Booking Japan and Athens Trips11:07 Pandemic Discoveries and Strategies16:57 Tahiti and Future Plans18:53 Advanced Tips and Tricks23:31 Conclusion and Final ThoughtsYou can find Julia at: ➤ Free course: https://julia-s-school-9209.thinkific.com/courses/your-first-points-redemption➤ Website: https://geobreezetravel.com/➤ Instagram: https://www.instagram.com/geobreezetravel/➤ Credit card links: https://www.geobreezetravel.com/cards➤ Patreon: https://www.patreon.com/geobreezetravelOpinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post. The content of this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

Today's guest suggests that for much of the past three years, the economy & financial markets have been boosted by a "sugar high" cocktail including prodigous fiscal stimulus from the government, massive AI capex outlays from the private sector, a wave of incremental consumer spending from waves of millions of illegal immigrants.But now he warns the sugar high is behind us.If true, what will the repercussion be?To find out, we're fortunate to welcome to the program for the first time Edward Dowd, founder of macroeconomic consulting & research firm Phinance Technologies.PURCHASE THE REPLAY OF THOUGHTFUL MONEY'S FALL CONFERENCE at https://www.thoughtfulmoney.com/conference#marketcorrection #recession #inflation _____________________________________________ Thoughtful Money LLC is a Registered Investment Advisor Promoter.We produce educational content geared for the individual investor. It's important to note that this content is NOT investment advice, individual or otherwise, nor should be construed as such.We recommend that most investors, especially if inexperienced, should consider benefiting from the direction and guidance of a qualified financial advisor registered with the U.S. Securities and Exchange Commission (SEC) or state securities regulators who can develop & implement a personalized financial plan based on a customer's unique goals, needs & risk tolerance.IMPORTANT NOTE: There are risks associated with investing in securities.Investing in stocks, bonds, exchange traded funds, mutual funds, money market funds, and other types of securities involve risk of loss. Loss of principal is possible. Some high risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods.A security's or a firm's past investment performance is not a guarantee or predictor of future investment performance.Thoughtful Money and the Thoughtful Money logo are trademarks of Thoughtful Money LLC.Copyright © 2025 Thoughtful Money LLC. All rights reserved.

Hour 4 - Scheim gives a lot of credit to everyone but Josh McDaniels when it comes to the break out season of Drake Maye. Ty Law and the crew question his reasoning.

The Nashua Telegraph's Tom King joins the show to answer Christian's question about who gets more credit between Drake Maye and Mike Vrabel. Tom also gets into the test the Browns' defense will give Maye and the offense.

As long as you make under $1 million. Plus tax bracket changes, the popularity of target date funds in 401(k)s, harvesting reward card bonuses, and the right to salary info for your peers. Plus plus what's your number?

Send us fan responses! The door cracks open on a quiet clubhouse and suddenly a bigger world appears: private communities building their own credit power, furnishing their own data, and charting a path to a community-owned bank. We walk you through the rooms where the paperwork becomes practice, where mentors with deep experience show how bonds, notes, and trust units get recognized by the systems that matter—Bloomberg, DTCC, Euroclear, Clearstream—and why that recognition turns private agreements into real leverage.We break down the role of a data furnisher in plain language and connect it to a practical plan: reporting instrument details and payment performance so custodians and investors can verify authenticity, price risk, and rate your instruments. That's the difference between hoping a lender believes you and presenting a documented track record for your trust, ministry, or enterprise. Along the way, we talk about what it takes to issue securities, the basics of trust and contract law, and how families, churches, and ministries securitize agreements to build durable access to capital.You'll also hear where the momentum is headed: investor commitments, milestones toward licensure, and live meetings in Atlanta designed to show the framework up close. No hype, just the playbook—how to create data that institutions respect, how to move from private order to public credibility, and how communities can step into real ownership of their financial narrative.If this sparks something, join us. Subscribe, share this with someone building a legacy, and leave a review with your biggest question about becoming a data furnisher or issuing your first instrument. We read them all and we'll bring the best questions into a future show.https://donkilam.com https://open.spotify.com/track/5QOUWyNahqcWvQ4WQAvwjj?autoplay=trueSupport the showhttps://donkilam.com

Greg gives credit to Robert Kraft for making a tough decision and moving off Mayo and getting Vrabel. The crew talks about how much Vrabel has changed things.

In this episode of Bowel Sounds, hosts Dr. Peter Lu and Dr. Jenn Lee talk to Dr. Kevin Watson, pediatric gastroenterologist and Assistant Director of Clinical Informatics at Akron Children's Hospital and Associate Professor at Northeastern Ohio Medical University. We talk about the use of AI-powered ambient listening technology for clinical documentation and his experience introducing AI scribes to his hospital.Learning objectivesUnderstand the advantages and limitations of the current state of ambient listening technology for clinical documentation.Review practical guidance on usage of this technology in pediatric gastroenterology.Recognize key strategies for successful implementation and adoption of this technology.Support the showThis episode may be eligible for CME credit! Once you have listened to the episode, click this link to claim your credit. Credit is available to NASPGHAN members (if you are not a member, you should probably sign up). And thank you to the NASPGHAN Professional Education Committee for their review!As always, the discussion, views, and recommendations in this podcast are the sole responsibility of the hosts and guests and are subject to change over time with advances in the field.Check out our merch website!Follow us on Bluesky, Twitter, Facebook and Instagram for all the latest news and upcoming episodes.Click here to support the show.

Stop data brokers from exposing your personal information. Go to my sponsor⁣ https://aura.com/matt to get a 14-day free trial and see how much of yours is being sold⁣ ⁣ Matt and Zach React to his American Greed Episode.⁣ ⁣ https://www.youtube.com/@BlackZack365 ⁣ ⁣

Before our Cleveland sports beat reporter, Daryl Ruiter, joins Nick Wilson and Jonathan Peterlin for the latest surrounding the Browns and their win on Sunday and Quick Hits, the two discuss a potential missed opportunity for the Browns at quarterback on Sunday.

Nick Wilson and Jonathan Peterlin get to Quick Hits covering everything from a Giants collapse or Broncos comeback to personal curfew times.

In this episode of the Private Markets Outlook series, we sit down with Scott Giardina, Managing Director and Head of Trading for Future Standard's Global Credit Team, for an in-depth look at the current state of private credit.Scott joins Research team members Alan Flannigan and Andrew Korz to discuss the benefit of specialization in private credit, why lender protections matter more than ever and what it means for investors.The Private Markets Outlook podcast series from Future Standard features portfolio managers from across our firm, each bringing unique perspectives on private equity, private credit and real estate. Subscribe and stay tuned for more.Follow the value, not the herd: The new private markets imperative Q4 U.S. economic outlook: Artificial intelligence, real economic impact U.S. exceptionalism at a crossroadsHave a question for our experts? Text us for a chance to have your questions answered on the next episode.To watch the video version, go to https://www.youtube.com/@futurestandard_fs For more research insights go to https://futurestandard.com/insights

Credit to Theos Seminary for the hilarious content !

Air Date 10/19/2025 Robber Barons™ of The Gilded Age™ told themselves stories about how they were ushering in progress for all which is why, they argued, they shouldn't be constrained by things like safety regulations or worker unions - impoverishing millions while injuring and killing thousands in the process. It took a stock market crash, the Great Depression, WWII, and The New Deal to finally wrench the power away and redistribute it for the sake of building a middle class that could work in relative safety in the US. Today's Robber Barrons™ ushering in techno-feudalism under the banner of AI-For-All are no different but with even higher stakes in the balance. Be part of the show! Leave us a message or text at 202-999-3991, message us on Signal at the handle bestoftheleft.01, or email Jay@BestOfTheLeft.com Full Show Notes Check out our new show, SOLVED! on YouTube! Join our Discord community! KEY POINTS KP 1: We're in Our AI Slop Era Part 1 - Today, Explained - Air Date 8-7-25 KP 2: What AI Means for Your Money, Music and Love Life Part 1 - Here & Now Anytime - Air Date 9-26-25 KP 3: AI Slop Part 1 - Last Week Tonight with John Oliver - Air Date 6-23-25 KP 4: Family Accuses ChatGPT of Helping Their Son Commit Suicide - The Briefing - AIr Date 8-30-25 KP 5: The REAL Reason Trump and Big Tech Want AI in Our Schools - More Perfect Union - Air Date 10-2-25 KP 6: AI and the Demise of College Writing Part 1 - Adam Walker - Close Reading Poetry - Air Date 7-15-25 KP 7: AI, Energy, and Climate Data Center Water Use Alexis Abramson, Julio Friedmann and Angela Yuan Part 1 - The DSR Network - Air Date 10-7-25 (00:56:20) NOTE FROM THE EDITOR On the pattern of capitalism's social costs DEEPER DIVES (01:05:22) SECTION A: AL SLOP (02:05:43) SECTION B: SOCIAL ASPECTS (02:47:46) SECTION C: LABOR AND EDUCATION (03:46:34) SECTION D: DATA CENTERS SHOW IMAGE CREDITS Description: AI-generated image of robot hands holding up a small globe against a desolate dessert background. Credit: “ai-generated-robot-earth” via geralt, Pixabay | Pixabay License   Produced by Jay! Tomlinson Visit us at BestOfTheLeft.com Listen Anywhere! BestOfTheLeft.com/Listen Listen Anywhere! Follow BotL: Bluesky | Mastodon | Threads | X Like at Facebook.com/BestOfTheLeft

Ben Hunt returns to Excess Returns to break down the hidden risks building inside private credit and the parallels between today's “alternative asset managers” and the shadow banking system that triggered the 2008 financial crisis. Using the Godfather's Tessio as a metaphor for betrayal and broken trust, Ben explains how opacity, leverage, and narrative collapse can turn small defaults into systemic crises. He and Matt Zeigler explore what's really happening beneath the surface of private markets, how common knowledge shifts shape investor behavior, and how Perscient Pro's “storyboards” and “semantic signatures” help track the narratives driving markets in real time.Main topics coveredWhy Ben believes we're at a “trust-breaking” moment similar to 2007The Godfather analogy and what frauds reveal about human behaviorHow private credit has evolved into today's “shadow banking” systemFlow machines, hidden leverage, and why opacity is intentionalThe dangers of informational asymmetry between investors and lendersHow broken trust creates chain reactions in financial systemsThe link between narrative collapse and liquidity crisesCommon knowledge, crowd reactions, and market psychologyDoom loops between Wall Street and the real economyHow Perscient Pro tracks financial narratives using semantic signaturesWhy gold's current rally is about safety, not debasementWhat investors should monitor next in credit, housing, and macro narrativesTimestamps0:00 Hidden leverage and the trust problem1:04 Introduction to Ben Hunt and Epsilon Theory2:12 The Tessio analogy – betrayal and the structure of fraud6:10 How private credit became today's shadow banking system10:55 Flow machines and why opacity is intentional14:48 Trust breaks and the “funding stops first” dynamic18:35 The Biden “common knowledge” moment explained21:00 What happens when narratives collapse24:26 Apollo, asymmetric information, and shorting First Brands28:00 Hidden leverage and the domino effects of default33:40 The “doom loop” between Wall Street and the real economy39:10 Why Silicon Valley Bank was different44:18 What a “run on Wall Street” could look like48:00 Perscient Pro and tracking financial storyboards53:32 Semantic signatures and narrative detection57:10 Housing, inflation, and gold storyboards1:00:48 Where to follow Ben Hunt and learn more about Perscient Pro

This week: The downfall of First Brands and Tricolor has led to finger-pointing between banks and private credit firms. Felix Salmon, Elizabeth Spiers, and Emily Peck discuss whether these fraud-related bankruptcies are a sign of major issues to come within the credit market. Then, car prices and sales are up across the board. The hosts cover the state of the auto industry, the spike in EV sales caused by expiring incentives, and what it's like to own a Crybertruck these days. And finally, QQQ is probably the only ETF you've heard of thanks to its aggressive advertising. The hosts explain the unusual structure of the wildly successful ETF that led to a Super Bowl ad level marketing budget but very little profit for its own trustee Invesco. In the Slate Plus episode: What the heck is going on with matcha prices?? Want to hear that discussion and hear more Slate Money? Join Slate Plus to unlock weekly bonus episodes. Plus, you'll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on Apple Podcasts and Spotify. Or, visit slate.com/moneyplus to get access wherever you listen. Podcast production by Jessamine Molli and Cheyna Roth. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week: The downfall of First Brands and Tricolor has led to finger-pointing between banks and private credit firms. Felix Salmon, Elizabeth Spiers, and Emily Peck discuss whether these fraud-related bankruptcies are a sign of major issues to come within the credit market. Then, car prices and sales are up across the board. The hosts cover the state of the auto industry, the spike in EV sales caused by expiring incentives, and what it's like to own a Crybertruck these days. And finally, QQQ is probably the only ETF you've heard of thanks to its aggressive advertising. The hosts explain the unusual structure of the wildly successful ETF that led to a Super Bowl ad level marketing budget but very little profit for its own trustee Invesco. In the Slate Plus episode: What the heck is going on with matcha prices?? Want to hear that discussion and hear more Slate Money? Join Slate Plus to unlock weekly bonus episodes. Plus, you'll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on Apple Podcasts and Spotify. Or, visit slate.com/moneyplus to get access wherever you listen. Podcast production by Jessamine Molli and Cheyna Roth. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week: The downfall of First Brands and Tricolor has led to finger-pointing between banks and private credit firms. Felix Salmon, Elizabeth Spiers, and Emily Peck discuss whether these fraud-related bankruptcies are a sign of major issues to come within the credit market. Then, car prices and sales are up across the board. The hosts cover the state of the auto industry, the spike in EV sales caused by expiring incentives, and what it's like to own a Crybertruck these days. And finally, QQQ is probably the only ETF you've heard of thanks to its aggressive advertising. The hosts explain the unusual structure of the wildly successful ETF that led to a Super Bowl ad level marketing budget but very little profit for its own trustee Invesco. In the Slate Plus episode: What the heck is going on with matcha prices?? Want to hear that discussion and hear more Slate Money? Join Slate Plus to unlock weekly bonus episodes. Plus, you'll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on Apple Podcasts and Spotify. Or, visit slate.com/moneyplus to get access wherever you listen. Podcast production by Jessamine Molli and Cheyna Roth. Learn more about your ad choices. Visit megaphone.fm/adchoices

In the Best of the Bears this week, Leila Rahimi and Marshall Harris debated how much credit general manager Ryan Poles deserves for the team's 3-2 start; NFL Network reporter Stacey Dales joined the Mully & Haugh Show to discuss the Bears' upward trajectory; and Matt Spiegel and Laurence Holmes discussed if ESPN color analyst Troy Aikman's criticism of quarterback Caleb Williams on the Monday Night Football broadcast was fair or unfair.

In the Best of the Bears this week, Leila Rahimi and Marshall Harris debated how much credit general manager Ryan Poles deserves for the team's 3-2 start; NFL Network reporter Stacey Dales joined the Mully & Haugh Show to discuss the Bears' upward trajectory; and Matt Spiegel and Laurence Holmes discussed if ESPN color analyst Troy Aikman's criticism of quarterback Caleb Williams on the Monday Night Football broadcast was fair or unfair.

Nathan Richard The Felon Entrepreneur shares his life story and his road to redemption. ⁣ ⁣ Nathan's Links⁣ https://www.facebook.com/p/Felon-Entrepreneur-100090521306522/⁣ https://www.instagram.com/Felon_Entrepreneur⁣ https://www.tiktok.com/@Felon_entrepreneur ⁣ ⁣ ⁣

In the Best of the Bears this week, Leila Rahimi and Marshall Harris debated how much credit general manager Ryan Poles deserves for the team's 3-2 start; NFL Network reporter Stacey Dales joined the Mully & Haugh Show to discuss the Bears' upward trajectory; and Matt Spiegel and Laurence Holmes discussed if ESPN color analyst Troy Aikman's criticism of quarterback Caleb Williams on the Monday Night Football broadcast was fair or unfair.

This week: The downfall of First Brands and Tricolor has led to finger-pointing between banks and private credit firms. Felix Salmon, Elizabeth Spiers, and Emily Peck discuss whether these fraud-related bankruptcies are a sign of major issues to come within the credit market. Then, car prices and sales are up across the board. The hosts cover the state of the auto industry, the spike in EV sales caused by expiring incentives, and what it's like to own a Crybertruck these days. And finally, QQQ is probably the only ETF you've heard of thanks to its aggressive advertising. The hosts explain the unusual structure of the wildly successful ETF that led to a Super Bowl ad level marketing budget but very little profit for its own trustee Invesco. In the Slate Plus episode: What the heck is going on with matcha prices?? Want to hear that discussion and hear more Slate Money? Join Slate Plus to unlock weekly bonus episodes. Plus, you'll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on Apple Podcasts and Spotify. Or, visit slate.com/moneyplus to get access wherever you listen. Podcast production by Jessamine Molli and Cheyna Roth. Learn more about your ad choices. Visit megaphone.fm/adchoices

Send us a textIn this episode, we sit down with Don Kieffer, senior lecturer at MIT Sloan School of Management and co-author of There's Gotta Be a Better Way, to talk about what actually makes companies run well. Don has spent decades helping organizations, from Harley-Davidson factory floors to biotech labs, design better systems that unlock real performance. We break down the five-principle framework he developed with his co-author, Nelson Repenning, an MIT PhD, MIT Sloan professor, and leading expert in operations and systems thinking, for building operational excellence: solving the right problem, structuring for discovery, connecting the human chain, regulating for flow, and visualizing the work.Through stories that range from front-desk hotel check-ins to a corrugated cardboard plant and even private equity fundraising pipelines, Don shows how tiny operational tweaks can deliver huge impact. We explore why firefighting cultures keep companies stuck in a “capability trap,” why automation without fixing the human system first is a mistake, and why the best private equity playbooks focus on execution, not spreadsheets. For founders, operators, and investors alike, this is a practical, no-fluff conversation about how businesses actually scale.Before diving into operations, we also touch on recent rumblings in credit markets, continuing our discussion on  the failed refinancing of First Brands and the liquidation of TriColor to bank fraud write-offs and how credit default swaps can amplify market stress. It's a lively, two-part arc: first, the operational playbook; next, how top investors at Private Equity firms think about value creation inside portfolio companies.Check out the book HEREFor 20% off Deleteme, use the code TWSS or click the link HERE! Sign up for our LIVE Virtual Bootcamps! 2-Day Financial Modeling Bootcamp Master the technical Excel and accounting skills essential for investment banking, private equity, and fundamental investing. (Learn more HERE) Global Markets & Investing PlaybookA one-day crash course on the financial ecosystem, perfect for anyone seeking a big-picture understanding of how global markets and Wall Street fit together. Our content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. (Learn more HERE)

Sara Eisen and David Faber began the hour with a fresh read on jobs using some alternative sources - before checking in on the tech trade with longtime investor Dan Niles, who says stocks will melt-up into Thanksgiving despite concerns over the AI trade. A key focus today? The health of the regional banks - as concerns rise around bad loans... Hear from one CEO in the group who says concerns are far overblown here, along with Evercore Vice Chairman Krishna Guha's take on the volatility. Also in focus: exclusive data from CNBC's All-America survey showing some concerning sentiment about the jobs market... Where things stand in Washington - and why the stoppage could last a lot longer... And a $300 trillion dollar mistake that's hitting crypto markets.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Scott Wapner and the Investment Committee debate the cracks forming in the private credit markets and how you should trade them. Plus, the Committee are making some major portfolio moves, they share the details of each one. Investment Committee Disclosures Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Katie and Matt discuss late-cycle credit accidents, dancing while the music plays, banks vs. private credit, the Nobel Peace Prize, institutional-grade prediction markets, 23-hour-a-day stock trading, picking off drunks at 3 a.m., digesting news outside of market hours, windows of liquidity and the rhythm of being a human.See omnystudio.com/listener for privacy information.

Learn how to build business credit fast and access capital without destroying your personal credit Build business credit fast and unlock funding opportunities most entrepreneurs never discover—that's exactly what you'll learn in this game-changing episode with Ty Crandall, who runs the world's largest business credit coaching operation. Charles Gaudet and Ty dive deep into the critical mistakes business owners make when funding their companies, revealing why the worst time to seek money is when you actually need it. Ty shares his proven "3 C's Formula" (Cashflow, Credit, Collateral) that has helped thousands of businesses access over $30 million in funding monthly, and you'll discover how to separate your personal finances from business liability, build a fundable business credit profile from scratch, and tap into funding options ranging from $160K in 0% interest credit cards to 4% EIDL loans with 30-year terms. Ty Crandall is a military veteran, world-renowned business credit and financing expert, and successful entrepreneur who has transformed personal tragedy into a mission of service. As the author of two best-selling books on consumer and commercial credit, Ty is also a high-level business coach who helps entrepreneurs scale to 8-figures and beyond, and an international speaking sensation. After losing everything during the 2008 financial crisis—including his mortgage company, personal assets, and even resorting to passing bad checks to keep electricity on for his pregnant wife—Ty rebuilt from ground zero with a fundamental shift in purpose. His painful experience drives his commitment to educating business owners on building fundable companies while protecting their personal assets, making Credit Suite the go-to resource for entrepreneurs seeking capital access at favorable terms without personal guarantees. KEY TAKEAWAYS: The worst time to ask for money is when you actually need it—entrepreneurs should prepare and secure revolving credit lines before cash flow problems arise. Business owners should double their estimated startup costs and timelines, as ventures typically take twice as long and cost twice as much as anticipated. Building business credit is separate from personal credit and should begin the moment you start your business to avoid personal liability and guarantee requirements. The "3 C's Formula" determines funding eligibility: Cashflow, Credit, and Collateral—if you have all three, you qualify for SBA loans; if you have one strength, focus on lenders specializing in that category. Unlike personal credit, business credit scores (like Paydex) are based solely on payment history, inquiries don't hurt your score, and 90% of vendors don't report unless you're intentional about it. Entrepreneurs should stock up on revolving credit whenever available and when terms are favorable, even if they don't need it immediately, to prepare for economic downturns or unexpected opportunities. Alternative funding options beyond traditional banks include merchant cash advances, credit card stacking ($160K at 0% for 18 months), asset-based lending (stocks, 401Ks, cryptocurrency), and EIDL disaster loans at 4% for 30 years. Using brokers instead of going directly to lenders provides access to more funding options, better negotiating power, and often costs nothing extra since lenders pay referral fees to brokers. Link's mentioned in the episode: creditsuite.com/blueprint https://www.linkedin.com/in/tycrandall Growing your business is hard, but it doesn't have to be. In this podcast, we will be discussing top level strategies for both growing and expanding your business beyond seven figures. The show will feature a mix of pure content and expert interviews to present key concepts and fundamental topics in a variety of different formats. We believe that this format will enable our listeners to learn the most from the show, implement more in their businesses, and get real value out of the podcast. Enjoy the show. Please remember to rate, review and subscribe to the podcast so you don't miss any future episodes. Your support and reviews are important and help us to grow and improve the show. Follow Charles Gaudet and Predictable Profits on Social Media: Facebook: facebook.com/PredictableProfits Instagram: instagram.com/predictableprofits Twitter: twitter.com/charlesgaudet LinkedIn: linkedin.com/in/charlesgaudet Visit Charles Gaudet's Wesbites:  www.PredictableProfits.com www.predictableprofits.com/community  

Nishea shares stores from being a Bailbondsman.⁣ ⁣ Nishea's Links⁣ https://www.facebook.com/dukesbailbond/⁣ https://www.dukesbailbonds.com⁣ ⁣

Money is never just about dollars and cents. It's a window into our hearts, a test of our faith, and even a testimony to the world.Few people have taught that truth more faithfully than Ron Blue. Today, he'll share lessons from his own journey—from Wall Street to biblical stewardship—and explain how our approach to finances transforms us and our relationships with others.Ron Blue is a financial teacher, author, and co-founder of Kingdom Advisors. He has helped countless Christians apply biblical wisdom to their finances and is best known for his bestselling book, Master Your Money: A Step-by-Step Plan for Financial Contentment.From Wall Street to Biblical WisdomRon began his career on Wall Street, later founding his own accounting firm and advising countless entrepreneurs and professionals. But everything changed when he became a Christian and encountered the teachings of Larry Burkett and Howard Dayton. He came to realize that everything that worked in the financial world had its roots in biblical wisdom.For more than forty years, he's witnessed God's redemptive work through money—seeing firsthand how financial decisions reveal the heart and become a powerful entry point for spiritual growth.As the late Billy Graham once said, “When you get your attitude about money right, the rest of life tends to fall into place.”Money Reveals the HeartRon often quotes Larry Burkett's insight that how we handle money is one of the clearest indicators of our spiritual life.Every purchase, every act of giving, every financial habit reflects what—and whom—we trust most.The first and most foundational lesson Ron has seen believers embrace is this: God owns everything.Once that truth takes root, everything changes. We move from ownership to stewardship, from anxiety to contentment, from control to trust. Those who live as stewards tend to develop an eternal perspective—knowing where their true security lies.When couples discuss money openly within that framework, communication strengthens and unity deepens. Money becomes not a barrier but a bridge to a deeper connection.Learning How Much Is “Enough”One of Ron's signature teachings centers on answering the question: How much is enough?Defining financial “finish lines” for lifestyle and accumulation frees believers from endless striving. It helps them determine when to give more, save less, and live joyfully within God's provision. From a worldly view, enough is never enough—but from God's view, it is both possible and freeing.When we truly believe that God owns everything, our financial goals shift. We seek margin—the space to give, serve, and respond to God's call.Money itself isn't the goal—it's a tool to accomplish God's purposes. Whether it's how we educate our children, give to ministry, or plan for the future, the question becomes: How can these resources advance God's Kingdom?When people look at us, they shouldn't see someone better, but someone different—different priorities, values, and goals.When Couples Don't See Eye to EyeNot every couple starts on the same page financially. Ron has seen how honoring the marriage covenant sometimes means yielding financial preferences for the sake of peace and witness. In one case, advising a believing wife to honor her unbelieving husband's wishes about tithing led to that husband's eventual openness to Christ.Even in his own marriage, Ron and his wife, Judy, have relied on third-party counsel to strengthen their communication—reminding couples that it's not their money, but God's money.Money as a Test and a TestimonyFor Ron, money serves three purposes: it's a tool, a test, and a testimony. God often uses money to build our faith because it serves as a test of our trust. But it's also a testimony. Contentment, generosity, and peace in financial life point the world to the sufficiency of Christ. In a culture driven by comparison and consumption, a believer who lives joyfully and contentedly becomes a living witness of God's faithfulness.If we can demonstrate contentment, confidence, peace, and joy, the world will notice—and wonder why. Money even becomes a testimony to the next generation as children watch their parents live open-handedly and find joy in biblical stewardship.When you view money as God's tool, test, and testimony, it reshapes not just your finances—but your faith, marriage, and legacy.Money is a great servant but a terrible master. When we surrender ownership to God, we discover the true freedom of stewardship—peace, purpose, and joy that outlast every market cycle.On Today's Program, Rob Answers Listener Questions:I'm 59 and planning to retire next year. My wife is already retired, and thankfully, our home and vehicles are paid off. We also have a few rental properties that are nearly paid for. My question is—when should I start taking Social Security? And regarding our pensions and investments, should I consider rolling them out of our company plans into something else?My son is thinking about filing for bankruptcy. He has quite a bit of debt—not just credit cards—and I'm worried about what bankruptcy would do to his credit and how long it would take him to rebuild. He hopes to buy a home in the near future. What are his options to avoid bankruptcy, and if he does file, how can he begin to recover his credit?Resources Mentioned:Faithful Steward: FaithFi's New Quarterly Magazine (Become a FaithFi Partner)Master Your Money: A Step-by-Step Plan for Experiencing Financial Contentment by Ron Blue with Michael BlueWisdom Over Wealth: 12 Lessons from Ecclesiastes on MoneyLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

MRKT Matrix - Friday, October 17th Dow jumps 300 points as bank credit concerns and China trade tensions ease (CNBC) ‘The tide went out': How a string of bad loans has bank investors hunting for hidden risks (CNBC) Moody's says the banking system, private credit markets are sound despite worries over bad loans (CNBC) S&P 500 Earnings Season Update (FactSet) Fed's Waller on board for an October rate cut, as Miran again presses for aggressive easing (Reuters) Goldman Sachs Pursues Bigger Share of AI Infrastructure Financing Boom (WSJ) Wall Street Races to Sell Risky ETFs as Crypto Crash Hits Retail (Bloomberg) Bessent Says Will Meet China's He in Malaysia Likely Next Week (Bloomberg) IMF Sees ‘Significant' Risks to Global Growth from US-China Row (Bloomberg) America's gravity-defying economy (FT) --- Subscribe to our newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://riskreversalmedia.beehiiv.com/subscribe⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ MRKT Matrix by RiskReversal Media is a daily AI powered podcast bringing you the top stories moving financial markets Story curation by RiskReversal, scripts by Perplexity Pro, voice by ElevenLabs

Guest and HostGuest: Marco Ciappelli, Co-Founder, ITSPmagazine and Studio C60 | Website: https://www.marcociappelli.comHost: Sean Martin, Co-Founder at ITSPmagazine, Studio C60, and Host of Redefining CyberSecurity Podcast & Music Evolves Podcast | Website: https://www.seanmartin.com/Show NotesIn this candid episode of Music Evolves, Sean Martin and Marco Ciappelli unpack the creative, ethical, and deeply personal tensions surrounding AI-generated music—where it fits, where it falters, and where it crosses the line.Sean opens with a clear position: AI can support the creative process, but its outputs shouldn't be commercialized unless the ingredients—i.e., training data—are ethically sourced and properly licensed. His concern is grounded in authorship and consent. If a model learns from unlicensed tracks, even indirectly, is it sampling without credit?Marco responds by acknowledging how deeply embedded influence is in all creative acts. As a writer and musician, he often discovers melodies or storylines in his own work that echo familiar structures—not out of theft, but because of lived experience. “We are made of what we absorb,” he says, drawing parallels between human memory and how AI models are trained.But the critical difference? Humans feel. They reinterpret. They falter. They declare their intent. AI does none of that—at least, not yet.The discussion isn't anti-technology. Instead, it's about boundaries. Both Sean and Marco agree that tools like neural networks can be fascinating collaborators. But when those tools start to blur authorship or generate perfect replicas of a human's imperfection—say, the crackle of a vinyl or the slide of a finger across a string—what are we really listening to? And who, if anyone, should profit from it?They wrestle with questions of transparency (“Did you write that… or did AI?”), authorship (“If you like it but don't know it's AI, does it matter?”), and commercialization (“Is it still your art if someone else feeds it to a machine?”). And perhaps most importantly, they invite you to answer for yourself.

With Morgan Stanley's European Leveraged Finance Conference underway, our Head of Corporate Credit Research Andrew Sheets joins Chief Fixed Income Strategist Vishy Tirupattur to discuss private credit, M&A activity and AI infrastructure.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 StanleyVishy Tirupattur: And I'm Vishy Tirupattur, Morgan Stanley's Chief Fixed Income Strategist.Andrew Sheets: Today, as we're hosting the Morgan Stanley European Leveraged Finance Conference, a discussion of three of the biggest topics on the minds of credit investors worldwide.It's Thursday, October 16th at 4pm in London.Vishy, it's so great to catch up with you here in London. I know you've been running around the world, quite literally, talking to investors about some of the biggest debates in credit – and that's exactly what we wanted to talk. We're here at Morgan Stanley's European Leveraged Finance Conference. We're talking with investors about the biggest debates, the biggest developments in credit markets, and there are really kind of three topics that stand out.There's what's going on with private credit? What's going on with the merger and acquisition, the M&A cycle? And how are we going to fund all of this AI infrastructure?And so maybe I'll throw the first question to you. We hear a lot about private credit, and so maybe just for the listener who's looking at a lot of different things. First, how do you define it? What are we really talking about when we're talking about private credit?Vishy Tirupattur: So, Andrew, when we talk about private credit, the most common understanding of private credit is lending by non-banks to small and medium sized companies. And we probably will discuss a bit later that this definition is actually expanding much beyond this narrow definition. So, when you think about private credit and spend time understanding what is the credit in private credit, what it boils down to is on average, on a leveraged basis, the credit in private credit is comparable to, say CCC to B - on a coverage basis to the public markets.So, the credits in the private credit market are weaker. But on the other hand, the quality of covenants in these deals is significantly better compared to the public credit markets. So, that's the credit in private credit.Andrew Sheets: So, Vishy, with that in mind then, what is the concern in this market? Or conversely, where do people see the opportunity?Vishy Tirupattur: So, the concern in this market comes from the opaqueness in these deals. Many of these private credit borrowers are not public filers. So not much is well known about what the underlying details are. But in a sense, a good part of the public markets, whether it's in high yield bonds or in the public, broadly syndicated leveraged loans are also not public filers. So, there is information asymmetry in those markets as well.So, the issue is not the opaqueness of private markets, but opaqueness in credit in general. But that said, when you look at the metrics of leverage, coverage, cash on balance sheet…Andrew Sheets: Because we can get some kind of high-level sense of what is in these portfolios...Vishy Tirupattur: Yeah. And we look at all those metrics, and we look at a wide range of metrics. We don't get to the conclusion that we are at a precipice of some systemic risk exposure in credit. On the other hand, there are idiosyncratic issues. And these idiosyncratic issues have always been there and will remain there. And we would expect that the default rates are sticky around these levels, which are slightly above the long-term average levels, and we expect that to remain.Andrew Sheets: So, you may see more dispersion within these portfolios. These are weaker, more cyclical, more levered companies. But overall, this is not something that we think at the moment is going to interrupt the credit cycle or the broader markets dynamic.Vishy Tirupattur: Absolutely. That is exactly where we come down to.So, Andrew, let me throw another question back at you. There's a lot of talk of growing M&A, growing LBO activity. And that could potentially lead to some challenges on the credit front. How do you look at it?Andrew Sheets: So, I'd like to actually build upon your answer from private credit, right? Because I think a lot of the questions that we're getting from investors are around this question of how far along in this always, kind of, cyclical process; ebb and flow of lending aggressiveness are we? And, you know, this is a cycle that goes back a hundred years – of lenders becoming more conservative and tighter with lending. And then as times get good, they become somewhat looser. And initially that's fine. And then eventually something, something happens.And so, I think we've seen the development of new markets like private credit that have opened up new lending opportunities and then also new questions. And I think we've also seen this question come up around M&A and corporate activity.And as we start to see headlines of very large leveraged buyouts or LBOs, as we start to see more merger and acquisition – M&A – activity coming back; something we've at Morgan Stanley been believers in. Are we really starting to see the things that we saw in the year 2000, or in the year 2007, when you saw very active capital markets actually coinciding with kind of near the peak of equity markets near the top of major market cycles.And in short, we do not think we're there yet. If we look at the actual volumes that we're seeing, we're actually a little bit below average in terms of corporate activity. There's really been a dearth of corporate activity after COVID. We're still catching up. Secondly, the big transactions that we're seeing are still more conservatively structured, which isn't usually what you see right at the end. And so, I think between these two things with still a lot of supportive factors for more corporate activity, we think we have further to go.Vishy Tirupattur: On that point, Andrew, I think if you look at the LBOs that are happening today versus the LBOs that happened in the 2007 era, the equity contribution is dramatically different. You know, equity to debt, these LBOs that are happening today [are] of a substantially higher amount of equity contribution compared to the LBOs we saw pre-Financial Crisis…Andrew Sheets: That's such a great point. And the listener may not know this, but Vishy and I were working together at Morgan Stanley prior to the Financial Crisis, and we were working in credit research when a lot of these LBOs were happening, and…Vishy Tirupattur: And I used to be tall and good looking.Andrew Sheets: (laughs) And they were just very different. We're still not there. If you go back and pull the numbers, you're looking at transactions still that are far more conservative than what we saw then. So, you know, this activity is cyclical, and I think we do have to watch deregulation, right? You saw a lot of regulations come in after the Financial Crisis that led to more conservative lending. If those regulations get rolled back, we could really move back towards more aggressive lending. But we haven't quite seen that yet.Vishy Tirupattur: Absolutely not.Andrew Sheets: And Vishy, maybe the third question that comes up a lot. We've covered private credit, which is very topical. We've covered kind of corporate aggressiveness. But maybe the icing on the cake. The biggest question is AI – and is AI spending?And it just feels like every day you come into the office and there's another headline on CNBC or Bloomberg about another mega AI funding deal. And the question is, okay, where's all that money going to come from?And maybe some of it comes from these companies themselves. They're very profitable, but credit might have to fill in some of the gaps. And you and some of our colleagues have done a lot of work on this. Where do you think kind of the lending story and the borrowing story fits into this broader AI theme?Vishy Tirupattur: Our estimate of simply data center related CapEx requirements are close to $3 trillion. You add the power required for the data centers and add another $300-400 billion. So, a lot of this CapEx will come from – roughly about half might come from the operating cash flows of the hyperscalers. But the rest, so [$]1.5 trillion plus, has to come through various channels of credit.So, unsecured corporate credit, we think will play a fairly small role in this. Of that [$]1.5 trillion plus, maybe [$]200 billion to come from unsecured credit issuance by these hyperscalers, and perhaps some of the securitized markets, such as ABS and CMBS that rely on stabilized cash flows may be another 1[$]50 billion. But a different version of private credit, what we will call ABF or asset based finance, will play a very big role. So north of [$]800 billion we think will come from that kind of a private credit version of investment grade, or a private credit markets developing. So, this market is very much in the developmental mode.So, one way or the other, for AI to go from where it is today to substantially improving productivity and the earnings of companies that has to go through CapEx; and that CapEx needs to go through credit markets.Andrew Sheets: And I think that is so fascinating because, right Vishy, so much of the spending is still ahead of us. It hasn't even really started, if you look at the numbers.Vishy Tirupattur: Absolutely. We are in the early stages of this CapEx cycle. We should expect to see a lot more CapEx and that CapEx train has to run through credit markets.Andrew Sheets: So, Vishy, there's obviously a lot of history in financial markets of larger CapEx booms, and some of them work out well, and some of them don't. I mean, if you are trying to think about some of the dynamics of this funding for AI and data centers more broadly versus some of these other CapEx cycles that investors might be familiar with. Are there some similar dynamics and some key differences that you try to keep in mind?Vishy Tirupattur: So, in terms of similarities, you know, they're big numbers, whichever way you cut it, these numbers are going to be big dollar numbers.But there are substantial differences between the most recent CapEx boom that we saw towards the end of the late 90s, early 2000s; we saw a massive telecom boom, telecom related CapEx. The big difference is that spending was done by – predominantly by companies that had put debt on their balance sheet. They were already very leveraged. They were just barely investment grade or some below investment grade companies with not much cash on their balance sheet.And you contrast that with today's world, much of this is being done by highly rated companies; the hyperscalers or between, you know, A+ to AAA rated companies, with a lot of cash on their balance sheets and with very little outstanding debt on their part.On top of that, the kind of channels that exist today, you know, data center, ABS and CMBS, asset-based finance, joint venture kind of financing. All of these channels were simply not available back then. And the fact that they all are available today means that this risk of CapEx is actually much more widely distributed.So that makes me feel a lot better about the evolution of this CapEx cycle compared to the most recent one we saw.Andrew Sheets: Private credit, a rise in M&A and a very active funding market for AI. Three big topics that are defining the credit debate today. Vishy, thanks for taking the time to talk.Vishy Tirupattur: Andrew, always fun to hang with youAndrew Sheets: And thank you for listening. If you enjoy Thoughts on the Market, please leave us review wherever you listen and tell a friend or colleague about us today.

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