Podcasts about Economics

Dave Smith brings you the latest in politics! On this episode of Part Of The Problem, Dave is joined by Scott Horton to discuss David Wurmser's recent podcast appearance breaking down Israel's relationship with America, the Clean Break Memo, and more.Use our code to sign up for Scott Horton Academy: https://scotthortonacademy.com/POTPSupport Our Sponsors:Proton Drive -http://www.proton.me/davesmithProlon - https://prolonlife.com/potpMy Patriot Supply - https://www.mypatriotsupply.com/problemBodyBrain - Go to BodyBrainCoffee.com, use code DAVE20 for 20% off your first orderPart Of The Problem is available for early pre-release at https://partoftheproblem.com as well as an exclusive episode on Thursday!PORCH TOUR DATES HERE:https://www.eventbrite.com/cc/porch-tour-2025-4222673Find Run Your Mouth here:YouTube - http://youtube.com/@RunYourMouthiTunes - https://podcasts.apple.com/us/podcast/run-your-mouth-podcast/id1211469807Spotify - https://open.spotify.com/show/4ka50RAKTxFTxbtyPP8AHmFollow the show on social media:X:http://x.com/ComicDaveSmithhttp://x.com/RobbieTheFireInstagram:http://instagram.com/theproblemdavesmithhttp://instagram.com/robbiethefire#libertarianSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Kat Owens is a plastic pollution researcher, artist, and activist. She merges science, policy, and the arts to address plastic pollution in her ongoing art series “Entangled and Ingested” which showcases portraits of animals affected by plastic pollution…made of plastic. Owens is also a National Geographic Explorer, a Fulbright Nehru fellow, and a Professor at the University of Hartford in the Department of Politics, Economics, and International Studies. Owens works with her students on a variety of projects to address real-world problems, such as collecting marine debris and addressing pollution along their hometown shorelines in Connecticut. Owen’s research in marine plastic pollution and river debris has been supported by the National Oceanic and Atmospheric Administration, the Fulbright Nehru Foundation, and the National Geographic Society.See omnystudio.com/listener for privacy information.

Dave Smith brings you the latest in politics! On this episode of Part Of The Problem, Dave and Robbie "The Fire" Bernstein talk about Trump's fake-out that was rumored to be an announcement of escalation with Venezuela, Ben Shapiro's statements at Turning Points' event vs. JD Vance's statements, and more.Order Lauren Smith's book here: https://a.co/d/67djjBpSupport Our Sponsors:Brunt Workwear - http://bruntworkwear.com/ Use code PROBLEMCowboy Colostrum - Get 25% Off Cowboy Colostrum with code DAVE at https://www.cowboycolostrum.com/DAVEMars Men - https://mengotomars.com/ Use code "PROBLEM" at checkoutPart Of The Problem is available for early pre-release at https://partoftheproblem.com as well as an exclusive episode on Thursday!PORCH TOUR DATES HERE:https://robbernsteincomedy.com/eventsFind Run Your Mouth here:YouTube - http://youtube.com/@RunYourMouthiTunes - https://podcasts.apple.com/us/podcast/run-your-mouth-podcast/id1211469807Spotify - https://open.spotify.com/show/4ka50RAKTxFTxbtyPP8AHmFollow the show on social media:X:http://x.com/ComicDaveSmithhttp://x.com/RobbieTheFireInstagram:http://instagram.com/theproblemdavesmithhttp://instagram.com/robbiethefire#libertarianSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Our Thematic and Equity Strategist Michelle Weaver and Power, Utilities, and Clean Tech Analyst David Arcaro discuss how investments in AI data centers are affecting electricity bills for U.S. consumers.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.David Arcaro: And I'm Dave Arcaro, U.S. Power, Utilities, and Clean Tech Analyst.Michelle Weaver: Today, a hot topic. Are data centers' raising your electricity bills?It's Tuesday, December 23rd at 10am in New York.Most of us have probably noticed our electricity bills have been creeping up. And it's putting pressure on U.S. consumers, especially with higher prices and paychecks not keeping pace. More and more people are pointing to data centers as the reason behind these rising costs, but the story isn't that simple.Regional differences, shifting policies and local utility responses are all at play here. Dave, there's no doubt that data centers are becoming a much bigger part of the story when it comes to U.S. electricity demand. For listeners who might not follow these numbers every day, could you break down how data centers' share of overall electricity use is expected to grow over the next 10 years? And what does that mean for the grid and for the average consumer?David Arcaro: Definitely they're becoming much bigger, much more important and more impactful across the industry in a big way. Data centers were 6 percent of total electricity consumption in the U.S. last year. We're actually forecasting that to triple to 18 percent by 2030, and then hit 20 percent in the early 2030s. So very strong growth, and increasing proportion of the overall utility, electricity use.In aggregate, this is reflecting about 150 gigawatts of new data centers by 2030. Just a very large amount. And this is going to cause a major strain on the electric grid and is going to require substantial build out and upgrading of the transmission system along with construction of new power generation – like gas plants and large-scale renewables, wind, solar, and battery storage across the entire U.S.And generally, when we see utilities investing in additional infrastructure, they need to get that cost recovered. We would typically expect that to lead to higher electric rates for consumers. That's the overall pressure that we're facing right now on the system, from all these data centers coming in.We've got these substantial infrastructure needs. That means utilities will need to charge higher prices to consumers to cover the cost of those investments.Michelle Weaver: What are the main challenges utilities companies face in meeting this rising demand from data centers?David Arcaro: There are a number of challenges. If I were to pick a few of the biggest ones that I see, I think managing affordability is one of the biggest challenges the industry faces right now, because this overall data center growth is absolutely a shock to their business, and it needs to be managed carefully given the political and regulatory challenges that can arise when customer bills are getting are escalating faster than expected. The utility industry faces scrutiny and constant attention from a political and regulatory standpoint, so it's a balance that has to be very carefully managed. There are also reliability challenges that are important.Utilities have to keep the lights on, you know, that's priority number one. The demand for electricity is growing much faster than the supply of new generation that we're seeing; new power plants just aren't being built fast enough. New transmission assets are not being built, as quickly as the data centers are coming on. So, in many areas we're seeing that leads to essentially less of a buffer, and more risk of outages during periods of extreme weather.Michelle Weaver: And you mentioned, companies are thinking about how can they insulate consumers. Can you take us through some of the specifics of what these utility companies are doing? And what regulators are doing to respond, to protect existing customers from rate increases driven by data centers?David Arcaro: Definitely. The industry is getting creative and trying to be proactive in addressing this issue. Many utilities, we're seeing them isolate data centers and charge them higher electric rates, specifically for those data center customers to try to cover all of the grid costs that are attributable to the data center's needs.A couple examples. In Indiana, we're seeing that there's a utility there who's building new power plants, specifically for a very large data center that's coming into the state and they're ring fencing it. They're only charging the data center itself for those costs of the power plants. In Georgia, a utility there is charging a higher rate for the data centers that are coming in to the Atlanta area – such that it actually more than covers the costs and compensates other consumers in the form of bill credits or even bill reductions as those data centers come on.Similarly, then, in Pennsylvania, there's a utility that has excess transmission infrastructure than the state's [infrastructure]. They're better able to absorb data center activity. They're able to lower customer bills as the data centers come on, as they spread their costs over a larger customer base in that case. So, this isn't universal though. There are some areas around the country where there are costs related to data center growth that get socialized across all consumers.One approach I also wanted to mention that we're seeing data centers pursue more and more actively is to power themselves. Essentially bring their own power, and they're using gas turbines, engines, and fuel cells that they're deploying right on site. This is actually in many cases faster than connecting to the grid, but it also avoids any consumer impact. Companies like Solaris Energy and Bloom Energy are two providers of that type of solution. And we're also seeing at a broader industry level. Another approach is the idea of data centers being flexible or turning off and not consuming power from the grid at certain times when the grid is facing stress, in an extreme weather scenario in the winter or summer. And that idea is gaining traction as well. So, we think the industry is looking for approaches that could ease the pressure on the system and on reliability, manage the affordability issues while continuing to enable and build data centers.Michelle Weaver: You mentioned what a few different states are doing on this front. But data centers are not evenly distributed through states or evenly distributed across regions. Are there regional differences in how data center growth is impacting electricity prices?David Arcaro: There are a couple of key differences that we're seeing around the country. Some areas just aren't getting that many data centers, you know, so I'd point out the northeast – in New England, in New York, we're just not seeing that much data center growth. So, it's less of an issue, the impact of data center power demand impacting customer bills in those areas. And then in some regions around the country, the utility structure is important to be aware of. There are some regions where the price of electricity fluctuates based on the supply and demand of power, rather than being directly set and controlled by a regulator. In those markets, data centers can actually more directly impact the price of electricity and there just isn't an easy way in that case to ring fence them and protect consumers from the impact of price increases.So that's where we think unique challenges can arise. And over time, we would expect to see the most meaningful rate impacts to consumers in those areas specifically. And examples would be New Jersey, Maryland, Illinois, Pennsylvania, Ohio. Those are a couple of the states where we're seeing those more volatile and directly impacted prices.So, as we look at utilities, we think the state exposure is going to be more and more important. And so, a few companies like NextEra, Sempra and AEP are a few utilities that are in states that have less affordability concerns and less direct exposure to rate impacts from data centers. And then several power companies like Vistra and Talen have more of their power plants that are in states that have excess infrastructure; and as a result, potentially less affordability concerns.So, clearly the energy sector is facing real challenges and changes. So, Michelle, how are rising electricity bills actually affecting U.S. households?Michelle Weaver: It's putting even more pressure on a consumer that's already being stretched thin by multiple years of inflation and elevated price levels, and electricity is a really different type of good. It's very different from gasoline or other consumer goods or staples – in that it's an essential good. You need to have it. And it's a network service that households are structurally locked into. Unlike gas where you could adjust your trip frequency or take a different type of transport, there really aren't good substitutes for electricity.And so this dynamic weighs on consumers. They have to continue paying these bills, and it weighs particularly heavily on lower income consumers where utility bills make up a much larger portion of their household budget.So, it crowds out some of that other potential spending.David Arcaro: That makes a lot of sense. It's an important expense to consider in terms of the impact on consumers. And, you know, as a result, are consumers blaming data center electricity demand for this rise that we're seeing in bills or are they pushing back?Michelle Weaver: Yeah. Data center development is quickly becoming a NIMBY or “not in my backyard” issue with communities pushing back and even getting projects canceled. Companies really need to find ways to address local concerns about environmental and water related externalities. And message that they're able to insulate consumers, or do something to mitigate these potentially higher electricity bills.A recent poll of around 2200 voters found that just over half of respondents attribute overall electricity price increases to AI data centers, at least somewhat. While around another third, consider them very responsible. And these responses are consistent across all regions and across political affiliations. And I think this consistency across regions is really interesting. As we're talking about before, data centers are not impacting bills in every region. But consumers are still blaming them and still attributing bill increases there.It's clear that both the energy sector and U.S. consumers are navigating a complex landscape with data center growth at the center of the conversation. As policy responses evolve and the U.S. midterm elections approach, this issue is only going to gain more attention. And we'll be sure to bring you the latest. Dave, thanks for taking the time to talk.David Arcaro: Great speaking with you, Michelle.Michelle Weaver: And 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.

Author Laurence Rees dives deep with Thom on a topic urgent for our times. Like Thom, Rees has studied the rise of Hitler carefully- and found that fascism always starts by conspiracies, fear, and the necessary creation of a dangerous enemy out of "those people"...See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Deregulation Was Never About “Freedom”—It Was About Permission to PoisonSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

You may have heard about new savings and investment accounts for children known as "Trump accounts." They got a big boost from a philanthropic donation that's among the largest ever delivered directly to Americans. The accounts are expected to open next May. The question is, can they deliver the benefits over the long haul that are being promoted? Economics correspondent Paul Solman dug into that. PBS News is supported by - https://www.pbs.org/newshour/about/funders. Hosted on Acast. See acast.com/privacy

In this interview, Saifedean talks with economist Juan Ramón Rallo about his book Principles of Economics, as well as the future of fiat money in the face of the rise of gold and Bitcoin.

In episode 40 of The League, Benoy Thanjan (The Solar Maverick) and David Magid break down why the solar market is undergoing a fundamental repricing of risk. Distributed generation platforms are coming to market as large players recycle capital and reset return expectations. At the same time, land is emerging as a major bottleneck.  Costs are rising, competition is intensifying, and traditional land-option strategies no longer work. Layer in permitting delays and growing uncertainty, and risk is now being priced earlier and more aggressively across solar development. The takeaway: solar fundamentals remain strong, but success in the next phase will depend on securing land early, managing permitting risk, and adapting capital strategies to a changing market. Host Bio: Benoy Thanjan Benoy Thanjan is the Founder and CEO of Reneu Energy, solar developer and consulting firm, and a strategic advisor to multiple cleantech startups. Over his career, Benoy has developed over 100 MWs of solar projects across the U.S., helped launch the first residential solar tax equity funds at Tesla, and brokered $45 million in Renewable Energy Credits (“REC”) transactions. Prior to founding Reneu Energy, Benoy was the Environmental Commodities Trader in Tesla's Project Finance Group, where he managed one of the largest environmental commodities portfolios. He originated REC trades and co-developed a monetization and hedging strategy with senior leadership to enter the East Coast market.  As Vice President at Vanguard Energy Partners, Benoy crafted project finance solutions for commercial-scale solar portfolios. His role at Ridgewood Renewable Power, a private equity fund with 125 MWs of U.S. renewable assets, involved evaluating investment opportunities and maximizing returns. He also played a key role in the sale of the firm's renewable portfolio.  Earlier in his career, Benoy worked in Energy Structured Finance at Deloitte & Touche and Financial Advisory Services at Ernst & Young, following an internship on the trading floor at D.E. Shaw & Co., a multi billion dollar hedge fund. Benoy holds an MBA in Finance from Rutgers University and a BS in Finance and Economics from NYU Stern, where he was an Alumni Scholar. Connect with Benoy on LinkedIn: https://www.linkedin.com/in/benoythanjan/ Learn more: https://reneuenergy.com https://www.solarmaverickpodcast.com   Host Bio: David Magid David Magid is a seasoned renewable energy executive with deep expertise in solar development, financing, and operations. He has worked across the clean energy value chain, leading teams that deliver distributed generation and community solar projects. David is widely recognized for his strategic insights on interconnection, market economics, and policy trends shaping the U.S. solar industry. Connect with David on LinkedIn: https://www.linkedin.com/in/davidmagid/  If you have any questions or comments, you can email us at info@reneuenergy.com.  

Chris Kohler: presenter and national finance editor for 9News, author of the new book How They Get You: Sneaky Everyday Economics and Smart Ways to Hold on to Your Money, and son of financial journalist Alan Kohler, AM. He's a wonderful communicator and thinker who brings excellent insights into the cost of living crisis, Australia's changing economy, and what we all can be doing to save a bit of money. LINKS: Grab a copy of Chris' book here Watch Story Club on YouTube and grab tickets to Story Club's next show My books So What? Now What? and Back After The Break are available here Send a pic of what you're looking at to sendosheremail@gmail.com See omnystudio.com/listener for privacy information.

Subscribe to the podcastWe invited friends of the show, Dean and Ace, of the End Times Continue podcast to have a conversation about the Non-Aggression Principle and it's applicability to lifeboat scenarios.The End Times ContinueFollow them on Twitter: @Ace_Archist, @PacingJouskaLearn about Bitcoin at a trickleBitcoinTrickle.comSponsorLiberty MugsKeep in touch with us everywhere you areJoin our Telegram groupLike us on FacebookFollow us on Twitter: @libertymugs (Rollo), @Slappy_Jones_2Check us out on PatreonLearn everything you need to know about Bitcoin in just 10 hours10HoursofBitcoin.comPodcast version

The Stoxx 600 reaches a new intra-day high with investors now anticipating the U.S. GDP print later today. Drug giant Novo Nordisk sees its shares soar as it seeks to gain U.S. approval for the pill-form version of its weight-loss drug Wegovy. President Trump has reiterated previous calls for acquiring Greenland from Denmark for national security reasons as he appoints a new envoy to the Arctic territory. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Women report doing 64% of the domestic labor in their household and the 73% of the mental labor. Eve Rodsky, author of the book and movement Fair Play, has championed not only this research, but also strategies to level the playing field. Today, Nicole and Eve talk about how to make your relationship more fair— and the financial consequences if you don't. Click here to learn more about Eve's work, click here to find Fair Play resources.

A world-class physicist makes a shocking claim: across 2,500 years and every kind of society, there has been a recurring moral exception carved out just for Jews--the idea that hurting Jews is, in some sense, legitimate. Most of the time, this doesn't erupt into pogroms. Instead, it lives as a background permission: a readiness to excuse, minimize, or rationalize harm to Jews when it does occur. Listen as Russ Roberts talks with David Deutsch of Oxford University about what Deutsch calls "the pattern": a persistent, global impulse not primarily to attack Jews, but to justify attacks on Jews--socially, politically, or physically. The stated reasons shift with the era--deicide, moneylending, "cosmopolitan elites," Zionism--but the underlying permission structure remains disturbingly constant. Unsettling, challenging, and clarifying, this conversation may change how you understand antisemitism--and the moral fault lines of our civilization.

Our Chief Cross-Asset Strategist Serena Tang discusses how current market conditions are challenging traditional investment strategies and what that means for asset allocation.Read more insights from Morgan Stanley.----- Transcript -----Welcome to Thoughts on the Market. I'm Serena Tang, Morgan Stanley's Chief Cross-Asset Strategist.Today – does the 60/40 portfolio still make sense, and what can investors expect from long-term market returns?It's Monday, December 22nd at 10am in New York.Global equities have rallied by more than 35 percent from lows made in April. And U.S. high grade fixed income has seen the last 12 months' returns reach 5 percent, above the averages over the last 10 years. This raises important questions about future returns and how investors might want to adapt their portfolios.Now, our work shows that long-run expected returns for equities are lower than in previous decades, while fixed income – think government bonds and corporate bonds – still offers relatively elevated returns, thanks to higher yields.Let's put some numbers to it. Over the next decade, we project global equities to deliver an annualized return of nearly 7 percent, with the S&P 500 just behind at 6.8 percent. European and Japanese equities stand out, potentially returning about 8 percent. Emerging markets, however, lag at just about 4 percent. On the bond side, we think U.S. Treasuries with a 10-year maturity will return nearly 5 percent per year, German Bunds nearly 4 [percent], and Japanese government bonds nearly 2 [percent]. They may sound low, but it's all above their long-run averages.But here's where it gets interesting. The extra return you get for taking on risk – what we call the risk premium – has compressed across the board. In the U.S., the equity risk premium is just 2 percent. And for emerging markets, it's actually negative at around -1 percent. In very plain terms, investors aren't being paid as much for taking on risk as they used to be.Now, why is this the case? It's because valuations are rich, especially in the U.S. But we also need to put these valuations in context. Yes, the S&P 500's cyclically adjusted price-to-earnings ratio is near the highest level since the dotcom bubble. But the quality of the S&P 500 has improved dramatically over the past few decades. Companies are more profitable, and free cash flow -- money left after expenses -- is almost three times higher than it was in 2000. So, while valuations are rich, there's some justification for it.The lower risk premiums for stocks and credits, regardless of whether we think they are justified or not, has very interesting read across for investors' multi-asset portfolios. The efficient frontier – meaning the best possible return for any given level of portfolio risk – has shifted. It's now flatter and lower than in previous years. So, it means taking on more risk in a portfolio right now won't necessarily boost returns as much as before.Now, let's turn our attention to the classic 60/40 portfolio – the mix of 60 percent stocks and 40 percent bonds that's been a staple strategy for generations. After a tough 2022, this strategy has bounced back, delivering above-average returns for three years in a row. Looking ahead, though, we expect only around 6 percent annual returns for a 60/40 portfolio over the next decade versus around 9 percent average return historically. Importantly though, advances in AI could keep stocks and bonds moving more in sync than they used to be. If that happens, investors might benefit from increasing their equity allocation beyond the traditional 60/40 split.Either way, it's important to realize that the optimal mix of stocks and bonds is not static and should be revisited as market dynamics evolve.In a world where risk assets feel expensive and the old rules don't quite fit, it's essential to understand how risk, return, and correlation work together. This will help you navigate the next decade. The 60/40 portfolio isn't dead – and optimal multi-asset allocation weights are evolving. And so should you.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.

The progressive Congressman reads the Washington DC tea leaves as he takes callers from across the nation. Plus- Thom reads from "Kickback: Exposing the Global Corporate Bribery Network" by David Montero.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The commons, unions, and a livable wage built the first mass middle class. Now younger voters want to reboot that machine at full throttle…See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Join Robert Llewellyn, Jack Scarlett, and Imogen Bhogal for a special year-end wrap-up as they take a mystery tour through the biggest moments of 2025, from unforgettable shoots, to the clean tech stories that really mattered, and share their bold predictions for what's coming in 2026. They kick things off by debunking the myth that EV sales are collapsing, revealing that global battery-electric vehicle sales are actually up 19% year-on-year. From there, the trio dive into their personal "Magic Money Tree" dream garages, featuring the Polestar 5, Kia EV9, the gloriously childish Ioniq 6 N, and Jack's verdict on the potentially game-changing BMW iX3.  There are also behind-the-scenes stories from some of the year's most memorable shoots — including the legendary solar safari in Namibia and the huge electric ferry project in Hobart. To wrap up, the team looks ahead to 2026, with predictions on a potential British automotive revival, the long-awaited arrival of truly affordable small EVs and whether Vehicle-to-Grid (V2G) technology is finally ready for the mainstream. Whether you've followed Every episode or you're dropping in for the first time, thank you for being a part of the journey and a very merry Christmas and peaceful New Year! 00:00:10 – Introduction 00:01:46 – Busting the "EV Sales Slowdown" Myth 00:07:06 – The "Magic Money Tree" Garage 00:14:15 – 2025 Shoot Highlights: Microlino & Electric Motorcycles 00:16:28 – Jack's Standout Cars of the Year: BMW iX3 & Kia PV5 00:19:25 – Robert's Picks: Polestar 5 & The New Nissan Leaf 00:23:36 – The Baked Bean Digression 00:25:14 – Imogen's Highlights: Solar Safari & Electric Farming 00:32:32 – Robert's Highlight: The Giant Electric Ferry 00:37:01 – Live Show Reflections: Sydney & Melbourne 00:45:18 – Jack's 2026 Predictions: British Auto & Fun Small EVs 00:49:15 – Robert's 2026 Prediction: Vehicle-to-Grid (V2G) 00:53:11 – The Economics of Clean Energy 00:57:50 – Final Reflections & Outro Why not come and join us at our next Everything Electric expo: https://everythingelectric.show Check out our sister channel Everything Electric CARS: https://www.youtube.com/@fullychargedshow Support our StopBurningStuff campaign: https://www.patreon.com/STOPBurningStuff Become an Everything Electric Patreon: https://www.patreon.com/fullychargedshow Buy the Fully Charged Guide to Electric Vehicles & Clean Energy : https://buff.ly/2GybGt0 Subscribe for episode alerts and the Everything Electric newsletter: https://fullycharged.show/zap-sign-up/ Visit: https://FullyCharged.Show Find us on X: https://x.com/Everyth1ngElec Follow us on Instagram: https://instagram.com/officialeverythingelectric To partner, exhibit or sponsor at our award-winning expos email: commercial@fullycharged.show   Everything Electric SYDNEY - Sydney Olympic Park 6th, 7th & 8th March 2026 EE NORTH (Harrogate) - 8th & 9th May 2026 EE WEST (Cheltenham) - 12th & 13th June 2026 EE GREATER LONDON (Twickenham) - 11th & 12th Sept 2026 #fullychargedshow #everythingelectricshow #homeenergy #cleanenergy #battery #electriccars #electric-vehicles-uk

Gen Z moviegoing attendance grew by 25 percent over the last 12 months, according to Cinema United's Strength of Exhibition report. IndieWire executive editor Ryan Lattanzio breaks down the report's findings and explains the factors that encourage people to become "habitual" moviegoers, defined as those who see at least six films a year.

Roundup of the Week's Top Stories in Economics and FreedomFed to Print $40 Billion per MonthEU Goes After American Free SpeechThe Great Property Crash of ChinaCollege: Just 12% Employed at GraduationThe Job “Slowdown” is Illegals and FedsRead the article "The Job 'Slowdown" is Illegals and Feds" at https://www.profstonge.com/Visit our Sponsor: Monetary MetalsEarn 5% to 12% interest on your physical gold and silver, paid in physical gold and silver.Visit our Sponsor: CoinKiteProtect your Bitcoin with an Ultra-Secure Hardware WalletDisclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.Support the show

Colgate Professor Chad Sparber returns to the program to discuss recent developments with the H-1B Visa program in the United States. Sparber is the W. Bradford Wiley Chair in International Economics; Professor of Economics and the Director of the Lampert Institute.

This week on If/Then we're sharing an episode of GSB at 100, a limited audio series created especially for Stanford Graduate School of Business's Centennial. GSB at 100 presents a scrapbook of memories, ideas, and breakthroughs as Stanford GSB celebrates its first century and looks around the corner to what the next 100 years may hold. On this episode of GSB at 100, you'll experience Centennial Day, hear Dean Sarah A. Soule honor the past, celebrate the present, and look to what the future may hold. GSB at 100 depicts a school defined not only by its innovation and impact, but by its people: curious students, devoted faculty, and accomplished staff — a community of thinkers, dreamers, and doers.Learn more about the Stanford GSB CentennialSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Is Arizona's economy poised to accelerate in the near the future? A recent report from the University of Arizona projects that our state's economy is set to accelerate in 2026.  Evan Taylor, Associate Economics Professor at the University of Arizona's Eller College of Management, joined Arizona's Morning News to discuss the study put out by his employer. 

12/22/25: White Joel Heitkamp takes some vacation, Vogel Law attorneys, Mark Friese and Bruce Quick, interview Carl Oberholtzer in the KFGO studio. Carl’s first teaching job was in 1974 in Hettinger, N.D., then went on to Wahpeton, N.D., in 1975 where he taught U.S. and World History, Sociology and Economics, and eventually moved to teach at Fargo North, all while teaching a variety of sports. Over the years, he became friends with Art Phillips, the owner of Video Arts Studio in Fargo, and eventually created a documentary on Little Rock Nine, as well as on Herman Stern and Detroit Lakes. You can read more about Carl from this Senior Perspective article. (Joel Heitkamp is a talk show host on the Mighty 790 KFGO in Fargo-Moorhead. His award-winning program, “News & Views,” can be heard weekdays from 8 – 11 a.m. Follow Joel on X/Twitter @JoelKFGO.)See omnystudio.com/listener for privacy information.

Iqbal Chand Malhotra is a distinguished media producer and author known for his work on geopolitical history and strategic affairs. He holds a first-class degree in Economics from Queens' College, University of Cambridge.Media Career: He is the Chairman and Producer of AIM Television Pvt. Ltd. Over his career, he has produced over 500 hours of television programming and served as an advisor on India to media mogul Rupert Murdoch (1993–1995), helping to launch MTV in India.Malhotra has directed several award-winning documentaries, often focusing on historical mysteries and security issues. Notable titles include The Legend of Malerkotla, Netaji Bose and the Lost Treasure, and Kashmir's Troubled Waters. He is a long-standing member of the International Academy of Television Arts and Sciences and has served as a juror for the International Emmy Awards.He has written extensively on conflict and strategy. His books include Red Fear: The China Threat and Dark Secrets: Politics, Intrigue and Proxy Wars in Kashmir. He also co-authored Kashmir's Untold Story: Declassified.Subroto Chattopadhyay is a veteran media executive and former civil servant with a diverse career spanning the public sector, corporate leadership, and cultural preservation. He is an alumnus of St. Stephen's College and the Delhi School of Economics.He began his career in the Indian Administrative Service (IAS) before moving to the corporate sector. He has held senior leadership roles, including Executive Director at PepsiCo South Asia and Managing Director of HMV Saregama, where he played a pivotal role in the Indian music industry.He is the Chairman of The Peninsula Studios, a content creation house based in New Delhi that focuses on recording and archiving Indian folk and classical music.Chattopadhyay directs the Brains Trust India initiative. This audio-visual series acts as a "confederacy of great minds," featuring eminent scholars and experts from India and the UK who discuss significant non-partisan issues. The project is often produced in partnership with the British High Commission.The two have collaborated on literary projects, most notably co-authoring the book "Bangladesh: Humiliation, Carnage, Liberation, Chaos" (2023), which explores the geopolitical dynamics surrounding the 1971 Liberation War.

European markets move lower but the Stoxx 600 is on track to notch its best year since 2021. Oil prices rise and gold hits a new record high as the U.S. navy pursues a suspected third ‘dark fleet' tanker near the Venezuelan coast. In Miami, U.S. officials hail ‘productive' peace talks between Russia and Ukraine but negotiations show no signs of breaking the impasse.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

How Much Profit Is Your Life & Health Worth to Them? House speaker Mike Johnson, says affordable health care ‘just was not to be' while a house Republican torches his own party's healthcare bill as "milquetoast garbage."See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

I had planned to take this week and next off but I can't leave y'all hanging without your fix on Christmas! This week I'm bringing you a special mini fix episode about the Christmas Truce of 1914. This remarkable ceasefire that happened spontaneously all along the Western Front during the first winter of World War I has shocked and inspired the masses ever since. But despite tons of eyewitness accounts and tangible evidence like letters, autographs, and photos, there are many who refuse to believe that the Christmas Truce ever happened. So, what do you think? Is this actual history or merely a myth? Support the show! Join the Patreon (patreon.com/historyfixpodcast)Buy some merchBuy Me a CoffeeVenmo @Shea-LaFountaineSources: Imperial War Museums video "How Did the Christmas Truce Happen?"Imperial War Museums "The Real Story of the Christmas Truce" History.com "The Christmas Truce"Institute for Economics and Peace "The Christmas Truce""Western Front Companion" by Mark AdkinForces War Records by Ancestry "The True Story of the 'Christmas Truce'"Shoot me a message! Support the show

Kyla Scanlon and Justin Wolfers, Professor of Public Policy and Economics at University of Michigan, join the show to break down the Federal Reserve's latest rate cut—and why growing internal dissent at the Fed actually matters. We unpack what the dot plot reveals, how markets may be misreading Jerome Powell, and whether inflation data is being misunderstood rather than manipulated. The conversation also dives into tariffs, affordability, and why cost-driven inflation hits households differently than demand-driven price spikes.

Rabea Berfelde discusses socialisation, its history and current socialisation movements. Future Histories LIVE. This episode is part of the ‘Future Histories LIVE' format. For this, individual episodes are recoded live – that is, in front of an audience – at irregular intervals. This episode was recorded on August 6th, during the 2025 Rethinking Economics Summer School Switzerland, titled “Economics as Resistance. Heterodox Strategies on Housing, Energy, and Agriculture against the New Right”. Shownotes Rabea at the Center for Social Critique of the Humboldt University Berlin: https://criticaltheoryinberlin.de/people/rabea-berfelde/ the Socialization in Theory and Practice research project: https://criticaltheoryinberlin.de/en/projects/socialization-in-theory-and-practice/ the 2025 Rethinking Economics Summer School Switzerland: https://resuso.ch/ Berfelde, R., & Möller, P. (2025). (Re)-Imagining Housing as an Infrastructure for Social Reproduction. In J. Groos & C. Sorg (Eds.), Creative Construction. Democratic Planning in the 21st Century and Beyond. Bristol University Press. https://bristoluniversitypress.co.uk/creative-construction Berfelde, R. et al. (2024). Für eine Linke mit Plan. Luxemburg. Gesellschaftsanalyse und Linke Praxis. 1/2024. https://zeitschrift-luxemburg.de/artikel/fuer-eine-linke-mit-plan/ Berfelde, R. & Heeg, S. (2024). Struggling with and through Knowledge Production: The Campaign ‘Expropriate Deutsche Wohnen & Co.'s' Attempt at Housing Definancialisation in Berlin. Critical Housing Analysis 11 (1): 105-114. https://www.housing-critical.com/home-page-1/struggling-with-and-through-knowledge-productio Berfelde, R., & Blumenfeld, J. (2024). Von der Vergesellschaftung zur Planung und wieder zurück: Über alte und neue Debatten um Wirtschaftsplanung und Vergesellschaftung. PROKLA. Zeitschrift für Kritische Sozialwissenschaft, 54 (215), 177–193. https://www.prokla.de/index.php/PROKLA/article/view/2119 Berfelde, R., & Möller, P. (2023). Radikaldemokratische Planung der Wohnraumversorgung? Das Vergesellschaftungskonzept von »Deutsche Wohnen & Co. enteignen«. PROKLA. Zeitschrift für Kritische Sozialwissenschaft, 53 (212), 561–577. https://www.prokla.de/index.php/PROKLA/article/view/2049 on the Bavarian Soviet/Council Republic: https://en.wikipedia.org/wiki/Bavarian_Soviet_Republic on the German revolution of 1918-19: https://en.wikipedia.org/wiki/German_revolution_of_1918%E2%80%931919 Backhaus, J., Chaloupek, G., & Frambach, H. A. (2019). The First Socialization Debate (1918) and Early Efforts Towards Socialization. Springer. https://www.springerprofessional.de/the-first-socialization-debate-1918-and-early-efforts-towards-so/16761374 on Otto Neurath: https://en.wikipedia.org/wiki/Otto_Neurath Chaloupek, G. (2007). Otto Neurath's Concepts of Socialization and Economic Calculation and his Socialist Critics. In: Nemeth, E., Schmitz, S.W., Uebel, T.E. (eds.) Otto Neurath's Economics in Context. Vienna Circle Institute Yearbook, vol 13. Springer. https://link.springer.com/chapter/10.1007/978-1-4020-6905-5_4 on Karl Korsch: https://en.wikipedia.org/wiki/Karl_Korsch on Otto Bauer: https://en.wikipedia.org/wiki/Otto_Bauer Meyer, N. (2023). Otto Bauer on the Long Transition to Socialism. Left Notes. https://www.left-notes.com/p/otto-bauer-long-transition-to-socialism on Karl Kautsky: https://en.wikipedia.org/wiki/Karl_Kautsky Vrousalis, N. (2018). Council Democracy and the Socialisation Dilemma. In: Muldoon, J. (ed.) Council Democracy. Towards a Democratic Socialist Politics. Routledge. https://www.taylorfrancis.com/chapters/edit/10.4324/9781351205634-5/council-democracy-socialisation-dilemma-nicholas-vrousalis Blumenfeld, J. (2023). What was socialization? A look back. https://sfb294-eigentum.de/en/blog/what-was-socialization-a-look-back/ Critical Theory Network et al. (2024). 11 Theses on Socialisation. https://criticaltheoryinberlin.de/en/interventions/11-theses-on-socialisation/ Benanav, A. (2025). Beyond Capitalism – 1. New Left Review. 153 May-June 2025. https://newleftreview.org/issues/ii153/articles/aaron-benanav-beyond-capitalism-1 Benanav, A. (2025). Beyond Capitalism – 2. New Left Review. 154 July-August 2025. https://newleftreview.org/issues/ii154/articles/aaron-benanav-beyond-capitalism-2 Muldoon, J. (ed.) (2018). Council Democracy. Towards a Democratic Socialist Politics. Routledge. https://www.taylorfrancis.com/books/edit/10.4324/9781351205634/council-democracy-james-muldoon on Deutsche Wohnen & Co Enteignen (the Berlin Housing Campagin): https://dwenteignen.de/en Hoffrogge, R. (2024). Commons and Constitution: historical and legal roots of the German socialization movement: https://sfb294-eigentum.de/de/blog/commons-and-constitution-historical-and-legal-roots-of-the-german-socialization-movement/ for projects on socialization in different sectors see also: https://communia.de/en/ communia (2024). Socialising Energy. Lessons from radical housing campaigns in Germany. In: Buxton, N. (ed.) (2024). Energy, Power and Transition. Transnational Institute. https://www.tni.org/files/2024-03/State%20of%20Power%202024-web.pdf on the legal assessment of socialising the energy sector in Germany: https://communia.de/energiekonzerne-enteignen-das-geht/ article 15 in the constitution of Germany: https://www.gesetze-im-internet.de/gg/art_15.html for the draft of the socialisation law by the Berlin Housing Campaign see here: https://dwenteignen.de/en/material the Ackersyndikat: https://ackersyndikat.org/ RWE & Co Enteignen: https://rwe-enteignen.de/ Hamburg Enteignet: https://hamburg-enteignet.de/ the socialist calculation debate: https://en.wikipedia.org/wiki/Socialist_calculation_debate the first socialisation conference 2022: https://communia.de/en/project/socialization-conference-october-2022/ the second socialisation conference 2024: https://communia.de/en/project/lets-socialize-socialization-for-climate-justice/ on anti-fascist economics: https://www.exploring-economics.org/en/discover/anti-fascist-economics/ Future Histories Episodes on Related Topics S03E29 | Nancy Fraser on Alternatives to Capitalism https://www.futurehistories.today/episoden-blog/s03/e29-nancy-fraser-on-alternatives-to-capitalism/ S03E19 | Wendy Brown on Socialist Governmentality https://www.futurehistories.today/episoden-blog/s03/e19-wendy-brown-on-socialist-governmentality/ S03E10 | Katharina Keil zu Vergesellschaftung und Transformation https://www.futurehistories.today/episoden-blog/s03/e10-katharina-keil-zu-vergesellschaftung-und-transformation/ S02E57 | Jenny Stupka zum Kampf um Vergesellschaftung https://www.futurehistories.today/episoden-blog/s02/e57-jenny-stupka-zum-kampf-um-vergesellschaftung/ S02E57 | Jenny Stupka zum Kampf um Vergesellschaftung https://www.futurehistories.today/episoden-blog/s02/e57-jenny-stupka-zum-kampf-um-vergesellschaftung/ S02E48 | Heide Lutosch, Christoph Sorg und Stefan Meretz zu Vergesellschaftung und demokratischer Planung https://www.futurehistories.today/episoden-blog/s02/e48-heide-lutosch-christoph-sorg-und-stefan-meretz-zu-vergesellschaftung-und-demokratischer-planung/ S02E29 | Max und Lemon von communia zu Vergesellschaftung und demokratischer Wirtschaft https://www.futurehistories.today/episoden-blog/s02/e29-max-und-lemon-von-communia-zu-vergesellschaftung-und-demokratischer-wirtschaft/ S02E23 | Nina Scholz zu den wunden Punkten von Google, Amazon, Deutsche Wohnen & Co. https://www.futurehistories.today/episoden-blog/s02/e23-nina-scholz-zu-den-wunden-punkten-von-google-amazon-deutsche-wohnen-co/ S03E32 | Jacob Blumenfeld on Climate Barbarism and Managing Decline https://www.futurehistories.today/episoden-blog/s03/e32-jacob-blumenfeld-on-climate-barbarism-and-managing-decline/   --- If you are interested in democratic economic planning, these resources might be of help: Democratic planning – an information website https://www.democratic-planning.com/ Sorg, C. & Groos, J. (eds.)(2025). Rethinking Economic Planning. Competition & Change Special Issue Volume 29 Issue 1. https://journals.sagepub.com/toc/ccha/29/1 Groos, J. & Sorg, C. (2025). Creative Construction - Democratic Planning in the 21st Century and Beyond. Bristol University Press. [for a review copy, please contact: amber.lanfranchi[at]bristol.ac.uk] https://bristoluniversitypress.co.uk/creative-construction International Network for Democratic Economic Planning https://www.indep.network/ Democratic Planning Research Platform: https://www.planningresearch.net/ --- Future Histories Contact & Support If you like Future Histories, please consider supporting us on Patreon: https://www.patreon.com/join/FutureHistories Contact: office@futurehistories.today Twitter: https://twitter.com/FutureHpodcast Instagram: https://www.instagram.com/futurehpodcast/ Mastodon: https://mstdn.social/@FutureHistories English webpage: https://futurehistories-international.com   Episode Keywords #RabeaBerfelde, #JanGroos, #Interview, #FutureHistories, #FutureHistoriesInternational, #futurehistoriesinternational, #FutureHistoriesLive #DemocraticPlanning, #DemocraticEconomicPlanning, #Capitalism #BerlinHousingCampaign, #DWE, #Economics, #Socialism, #Socialisation, #OttoNeurath, #AaronBenanav, #Transition

Will the supreme egoist be snared by his thirst for vainglory? Could the board of the Pulitzer Prize take Trump down? After deranged Donald picked a fight with the board, the Pulitzer lawyers demanded info that he would prefer to keep hidden. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Welcome to Exponential View, the show where I explore how exponential technologies such as AI are reshaping our future. I've been studying AI and exponential technologies at the frontier for over ten years. Each week, I share some of my analysis or speak with an expert guest to make light of a particular topic. To keep up with the Exponential transition, subscribe to this channel or to my newsletter: https://www.exponentialview.co/ --- What made 2025 special? In this episode, I reflect on the past year and what it revealed: a K-shaped divide. On one track, AI models are now doing hours of high quality work, improving at exponential pace, and shifting how we work from doing to judging. On the other, organisations and the broader economy are struggling to keep up. Stay to the end for my seasonal film recommendation. I cover:(00:00) Intro (00:45) The state of tool usage in 2025 (6:10) The gap between AI progress and organizational adoption (9:53) AI's shockingly rapid revenue growth (11:17) The biggest mistake smart people make with AI (14:14)  The inescapable need for physical infrastructure (16:06) What everyone was asking in 2025 (18:08) The new winners of the AI economy (20:48) Why “K” is the letter of 2025 (24:08) Seasonal movie recommendation ---- Where to find me: Exponential View newsletter: https://www.exponentialview.co/ Website: https://www.azeemazhar.com/ LinkedIn: https://www.linkedin.com/in/azhar/ Twitter/X: https://x.com/azeem  Production by supermix.io and EPIIPLUS1 Production and research: Chantal Smith and Marija Gavrilov. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Economics, Finance, Inflation, Common Sense........etc Learn more about your ad choices. Visit megaphone.fm/adchoices

Send us a textIn this episode we sit down with Liz Myers, Global Chair of Investment Banking and Capital Markets at J.P. Morgan for an Equity Capital Markets deep dive. We get into IPOs vs follow-ons, primary vs secondary proceeds (and why sponsor-backed IPOs often use proceeds differently), convertibles and the reality of price discovery. Liz breaks down the modern IPO process — from test-the-waters investor education to the order book build — and explains the newer concepts that didn't exist until recently like cornerstone investors, why they matter, and how banks think about allocating “precious” shares to create the right long-term shareholder base. We also get into market timing (their internal “IPO dashboard”), what makes the window feel open vs shut, and why the market loves certainty more than anything.Liz Myers, Global Chair of Investment Banking and Capital Markets, J.P. MorganLiz Myers is Global Chair of Investment Banking and Capital Markets at J.P. Morgan, where she has worked for over 30 years. Prior to her current role, she served as Global Head of Equity Capital Markets where she led the team responsible for advising J.P. Morgan's corporate clients on equity capital raising (IPOs, follow-ons and convertible issuance) in the Americas, Europe and Asia. She has been named one of the Top 25 Most Powerful Women in Finance by American Banker magazine and one of Barron's 100 Most Influential Women in U.S. Finance.Myers serves on the Executive Committee of Women on the Move at J.P. Morgan, which supports women employees and women-run businesses. She serves on the Board of Trustees for Princeton University and the Advisory Boards of the Bendheim Center for Finance at Princeton University and the Harvard Graduate School of Education. Myers is a National Board Member of the Posse Foundation, which expands the pool from which top universities can recruit young leaders. She is also a Board Member of New Yorkers for Children, a nonprofit with a focus on youth in foster care.Myers graduated cum laude from Princeton University in 1992, with a major in Economics. She received an MBA from Harvard Business School in 1997.Learn more about 9fin HERE Shop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others' experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

If you've taught or attended a high school course in the last decade, you've probably watched a Crash Course video. Their dozens of playlists on topics from Biology and Environmental Science to Economics and World History hold hundreds of videos and have collected over 2 billion views. Maybe even just hearing the title conjured John Green's urgent cadence and the characteristic cartoon aesthetic in your mind, or the show's outro, if you couldn't hit the pause button fast enough, where John thanks the producer, the graphics team, and mentions, “The show is written by my high school history teacher, Raoul Meyer…”Today, Mister Meyer not only continues to teach, but earlier this year reached out to me about a new film project he's working on with his brother Luke, scheduled for 2026 release, tentatively titled THE TEACHERS PROJECT. It's described as “a compelling, character-driven journey into the lives of American educators as they navigate the intensifying culture war that has enveloped the nation's schools since 2020. As political battles over sanctioned ideas, books, and lesson plans range from national headlines to local school boards, the film reveals the devastating consequences of this chaos and conflict for teachers, students, communities, and the future of American education.”And Raoul joins me to talk about Crash Course, the state of history teaching and the often untold stories of teachers wrestling with all of it.@mistermeyer on BlueSky

In this episode of THE MENTORS RADIO, Host Dan Hesse talks with Dr. Eswar Prasad, a Professor of Economics at Cornell, a senior fellow at Brookings, and the former head of the IMF's China division, to discuss his book The Future of Money: How the Digital Revolution Is Transforming Currencies and Finance, which was chosen as a Best Book of the Year by The Economist, The Financial Times, Foreign Affairs, ProMarket, and The Week. In The Future of Money, Dr. Prasad argues that we are at an inflection point where technology is redefining what money is, who issues it, and how it moves—pushing us toward a world with less physical cash, and an ecosystem of fintech and crypto innovations that will reshape everything from household payments to the global monetary order. LISTEN TO the radio broadcast live on iHeart Radio, or to “THE MENTORS RADIO” podcast any time, anywhere, on any podcast platform – subscribe here and don't miss an episode! SHOW NOTES: ESWAR S. PRASAD: BIO: BIO: Eswar S. Prasad BOOKS: The Future of Money: How the Digital Revolution Is Transforming Currencies and Finance, by Eswar S. Prasad The Doom Loop: Why the World Economic Order Is Spiraling into Disorder, by Eswar S. Prasad Gaining Currency: The Rise of the Renminbi, by Eswar S. Prasad The Dollar Trap: How the U.S. Dollar TIghtened its Grip on Global Finance, by Eswar S. Prasad WEBSITE: https://www.futureofmoneybook.com/

To conclude their two-part discussion, our Head of Corporate Credit Research Andrew Sheets and Chief Investment Officer for Morgan Stanley Wealth Management Lisa Shalett discuss the outlook for inflation and monetary policy, with implications for investment-grade credit.Read more insights from Morgan Stanley.----- Transcript -----Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Global Head of Corporate Credit Research at Morgan Stanley.Lisa Shalett: And I am Lisa Shalett, Chief Investment Officer of Morgan Stanley Wealth Management.Andrew Sheets: Yesterday we focused on the topic of a higher for longer inflation regime, and I was asking the questions. Today, Lisa will grill me on my views for the next year. It's Friday, December 19th at 4pm in London. Lisa Shalett: And it's 11am in New York. All right, Andrew, I'm happy to turn tables on you now. I'm very interested in your thoughts about the past year – 2025 – and looking towards 2026. In 2026, Morgan Stanley Research seems to expect a resilient global growth backdrop, with inflation moderating and central banks easing policy gradually. What do you think are the main drivers behind this more constructive inflation outlook, especially taking into account the market's prevailing concerns about persistent price pressures. Andrew Sheets: There are a couple of factors that we think are going to be near term helps for inflation, although I don't think they totally rule out what you're talking about over that longer term period.So first, we, at Morgan Stanley, are very cautious, very negative on oil prices. We think that there's going to be more supply of oil over the next year than demand for it. And so lower oil prices should help bring inflation down. There's also some measures of just how the inflation indices measure shelter and housing. And so, while we think, kind of, looking further ahead, there are some real shortages emerging in things like the rental markets – where you just haven't had a whole lot of new rental construction coming online, as you look out a year or two ahead. But in the near term, rental markets have been softer. Home prices are coming down with a lag in the data. And so, shelter inflation is relatively soft. So, we think that helps. While at the same time fiscal policy is very supportive and corporates, as we discussed in our last conversation, they're really embracing animal spirits – with more spending, more spending on AI, more capital investment generally, more M&A. And so, those factors together, we think, can over the next 12 months, still mean pretty reasonable growth and Inflation that's still above target – but at least trending a little bit lower. Lisa Shalett: You believe that central banks, including the Fed, will cut rates more slowly given better growth. And this slower pace of easing could actually be positive for the credit markets. So, could you elaborate on your expertise on credit and why a gradual Fed approach may be preferable? What risks and opportunities might this create? Andrew Sheets: Yeah, so I think this is kind of one of these big debates going into this year is – which would we rather have? Would we rather have a Fed that was more active, cutting more aggressively? Or cutting more slowly? And, indeed, we're having this conversation on the heels of a Fed meeting. There's a lot of uncertainty about that path. But the way that we're thinking about it is that the biggest risk to credit would be that this outlook for growth that we have is just too optimistic. That actually growth is weaker than expected. That this rise in the unemployment rate is signaling something far more challenging for the economy ahead and in that scenario the Fed would be justified in cutting a lot more. But I think historically in those periods where growth has deteriorated more significantly while the Fed has been cutting more, those have been periods where credit – and indeed the equity market – have actually done poorly despite more quote unquote Fed assistance. So, periods where the Fed is cutting more gradually tend to be more consistent with policy in the right place. The economy being in an okay place. And so, we think, that that's the better outcome. So again, we have to kind of monitor the situation. But a scenario where the Fed ends up doing a little bit less than the market, or even we expect with rate cuts – because the economy's holding up. That can still be, we think, an okay scenario for markets. Lisa Shalett: So, things are okay and animal spirits are returning. What does that mean for credit markets? Andrew Sheets: Yeah, so I think this is the bigger challenge: is that if our growth scenario holds up, corporates I think have a lot of incentives to start taking more risk – in a way that could be good for stock markets, but a lot more challenging to the lenders, to these companies for credit. Corporates have been impressively restrained over the last several years. They've really, kind of, held back despite lots of fiscal easing, despite very low rates. Those reasons for waiting are falling away. And so, in this backdrop that you, Lisa, were describing the other day around – easier monetary policy, easier fiscal policy, easy regulatory policy, and you know, just for good measure, maybe the biggest capital spending cycle since the railroads through AI. These are some pretty powerful forces of animal spirits. And that's a reason why we think ultimately, we see a lot more issuance. We see roughly a trillion dollars of net supply. So, total supply, less redemptions in U.S. investment grade. That's a huge uptick from this year, and we think that drives spreads wider, even if my colleague Mike Wilson is correct that equity markets rise. Lisa Shalett: So, wow. So, we have very strong U.S. equities. But perhaps an investment grade credit market that underperforms those equities. How else would you think about your asset allocation more broadly, and how might those dynamics around credit issuance and equity success play out regionally? Andrew Sheets: Yeah, so, I think this scenario where equities are up, credit is underperforming. The cycle is getting more aggressive. It's a little unusual, but I think we do have some templates for it and specifically I think investors could look to 2005 or 1997 and 1998. Those were all years where equities were up double digits, where credit spreads were wider. Where yields were somewhat range bound, where corporate aggression was increasing. That is all very consistent with Morgan Stanley's 2026 story. And yet, you did have this divergence between equities and credit market. So, I think it is a market where we see better risk-reward in stocks than in credit. I think it's a market where we want to be in somewhat smaller credits or somewhat smaller equities. We like small and mid cap stocks in the U.S. over large caps. We like high yield over investment grade. And we do think that European credit might outperform as it's somewhat lagging this animal spirits theme that we think will be led by the U.S. Lisa Shalett: So, if that's the outlook, what are the risks? Andrew Sheets: Yeah, so I think there are two risks, and you know, we alluded to one of them early on in this conversation – would be just that growth is weaker than we expect. Usually when the unemployment rate is rising, that's a pretty bad time to be in credit. The unemployment rate is rising. Now, Morgan Stanley economists think that that rise will be temporary, that it will reverse as we go through 2026. And so, it'll be less of a thing to worry about. But you know, a sign that maybe companies have been holding off on firing, waiting for more tariff clarity, if that doesn't come, then that would be a risk to growth. The other risk to growth is just around this AI-related spending. It is very large and the companies that are doing it are some of the wealthiest companies in the world, and they see this spending potentially as really core to their long-term strategic thinking. And so, if you were to ever have an issuer or a set of issuers who were just less price sensitive, who would keep issuing into the market, even if it was starting to reprice that market and push spreads wider, this might be the group. And so, a scenario where that spending is even larger than we expect, and those issuers are less price sensitive than we expect – that could also drive spreads wider, even if the underlying economic backdrop is somewhat okay. Lisa Shalett: Super. That's probably a great place for us to wrap up. So, I'll hand it back to you, Andrew. Andrew Sheets: Well, great, Lisa, always a pleasure to have this conversation. And, as a reminder for all you listening, if you enjoy Thoughts of the Market, please take a moment to rate and review us wherever you listen, it helps more people find the show. *****Lisa Shalett is a member of Morgan Stanley's Wealth Management Division and is not a member of Morgan Stanley's Research Department. Unless otherwise indicated, her views are her own and may differ from the views of the Morgan Stanley Research Department and from the views of others within Morgan Stanley.

Attorney and radio host Dean Obeidallah reports that what we have seen from today's GOP is that it will not moderate. Instead, it will move further and further to the right. The young Republicans at Saturday's event simply confirm that very reality. And they warn us of what we must be prepared to defeat. Epstein reveal fizzles. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A palace rising on public ground while the affordability crisis tightens its grip isn't just bad optics, it's a betrayal of the idea of America…See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

This Flashback Friday is from episode 532 published last June 22, 2015. Laurence Kotlikoff is a second time guest to the Creating Wealth show and has a lot to share on the subject of economics and Social Security. Laurence Kotlikoff is a William Warren FairField Professor for Economics at Boston University and recently released a book entitled, Get What's Yours: The Secrets to Maxing Out Your Social Security. Laurence sits down with Jason to talk on the growing Social Security problem, the U.S. government's 210 trillion dollar time bomb, and what kind of economic environment we should expect in the next ten years.      Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com

Moody's Analytics economist Matt Colyar weighs in on the government-shutdown flawed consumer price data for October and November, and teases his own CPI that will better represent what's happening with inflation. Stay tuned. And Robert Dietz, chief economist of the National Association of Homebuilders, joins the conversation to provide his outlook on the housing market. Housing will have another tough year, but Rob finds some bright spots.Guest: Robert Dietz, Chief Economist of the National Association of Home BuildersHosts: Mark Zandi – Chief Economist, Moody's Analytics, Cris deRitis – Deputy Chief Economist, Moody's Analytics, and Marisa DiNatale – Senior Director - Head of Global Forecasting, Moody's AnalyticsFollow Mark Zandi on 'X' and BlueSky @MarkZandi, Cris deRitis on LinkedIn, and Marisa DiNatale on LinkedIn Questions or Comments, please email us at helpeconomy@moodys.com. We would love to hear from you. To stay informed and follow the insights of Moody's Analytics economists, visit Economic View. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Story of the Week (DR):Embattled BP replaces CEO, naming Woodside Energy chief as first-ever woman leader of a Big Oil giant MMBP names new CEO — its fourth in 6 yearsO'Neill will replace Murray Auchincloss, after less than two years in the role.BP's C-suite milestone: Women in both the CEO and CFO seatsMelody Meyer: Chair of the safety and sustainability committeeDame Amanda Blanc: Senior independent director Interim CEO Carol HowleCFO Kate ThomsonEmma Delaney: EVP, customers & productsKerry Dryburgh - EVP, people, culture & communications and chief human resources and communications officer *Emeka Emembolu: EVP, technology*William Lin - EVP, gas & low carbon energy2 of 8 white dude leadershipEven after Pamela Daley stepped down in July, still 43% female board influenceMeg O'Neill: ‘hard-nosed' outsider who will head BP's pivot away from green energyFirst female appointment to a major oil company has faced fierce resistance from climate activists as boss of Woodside43% female board influence at WoodsideCarol Howle, current executive vice president, supply, trading & shipping of bp, will serve as interim CEO until Meg joins as CEO.BP 'woke' agenda axed as it hires first female chief exec and doubles down on fossil fuelsWarner Bros Discovery board rejects rival bid from ParamountWBD's board of directors (chaired by Samuel Di Piazza Jr.) has unanimously rejected the Paramount tender as inferior and risky, urging shareholders to reject it and uphold the Netflix transaction instead.David Ellison pulled the dad card early onRight after WBD rejected one of multiple secret bids in September, David Ellison called Warner Bros. CEO David Zaslav to request that Zaslav meet with his father, Larry Ellison. The conventional wisdom was that the Oracle cofounder's billions would prevail. In the end, that didn't happen. WBD expressed concern that the bid relied on a revocable trust, whose assets or liabilities were subject to change.A zealous Paramount pulled out all the stops to woo ZaslavWe already knew Zaslav stood to make over $500 million from a Paramount deal, based mainly on his shares that would vest immediately after it closed ($567,712,631, to be exact, according to the filing). Zaslav told the WBD board that the Ellisons had "indicated to him that" if a deal went through, he would "receive a compensation package worth several hundred million dollars," per the filing. Zaslav responded that it "would be inappropriate to discuss any such arrangements at that time," he told the board.Paramount also offered Zaslav the position of co-CEO and co-chairman of the combined company, a role Netflix didn't offer, the filing said.That runs contrary to the narrative put forth in a letter Paramount's attorneys at Quinn Emanuel sent to WBD, stating they suspected the process was biased in favor of Netflix due to WBD leadership's expectations that there could be roles for them at the new company. Paramount's legal and financial advisors didn't know about the "December 3 Quinn Emanuel" letter and, in their view, the letter should not have been sent, was "not helpful," and was a "mistake," the filing says.TikTok signs agreement to create new U.S. joint ventureTikTok has signed binding agreements with investors including Oracle, Silver Lake and MGX for the sale of its US arm, creating a joint venture as part of a deal orchestrated by President Donald Trump.The U.S. joint venture will be 50% held by a consortium of new investors, including Larry Ellison's Oracle, Silver Lake and Abu Dhabi's MGX, with 15% each. Just over 30% will be held by affiliates of certain existing investors of ByteDance, and almost 20% will be retained by ByteDanceHouse Democrats release more Epstein photos, including Bill Gates and a dinner full of wealthy philanthropists Donald TrumpBill Clinton Bill Gates – Microsoft co-founderSergey Brin – Google co-founderRichard Branson – Virgin Group founderLarry Summers – Economist, Harvard President, OpenAI directorSalar Kamangar – Former YouTube CEO Sultan Ahmed bin Sulayem — Emirati businessman; Chair/CEO of DP WorldLes Wexner — Founder of L BrandsLeon Black — co-founder and former CEO of Apollo Global ManagementTom Pritzker — Executive Chair Hyatt HotelsGlenn Dubin — Hedge fund manager Dubin & Co.; co-founder of Highbridge Capital Management Ron Baron — Founder & chairman of Baron Capital ManagementJosh Harris — co-founder of Apollo Global Management and managing partner of Philadelphia 76ers, New Jersey Devils, and Washington CommandersAriane de Rothschild — Wealthy banking heir; CEO of Edmond de Rothschild GroupGoodliest of the Week (MM/DR):DR: Canada to Launch Sustainable Investment Taxonomy in 2026According to the government, the new taxonomy will provide a set of criteria for the identification of investments that are eligible for a “green” or “transition” investment label, enabling companies to issue green or transition bonds, and investors to evaluate the credibility of sustainable investment products.MM: Tesla's having a good time at the DMVCalifornia won the right to ban sales of Tesla vehicles in the state due to false advertising about “self driving cars”MM: Walmart's women truckers surge thanks to $115,000 starting pay and other perks bringing in nontraditional candidatesAssholiest of the Week (MM):Helge LundEmbattled BP replaces CEO, naming Woodside Energy chief as first-ever woman leader of a Big Oil giant:O'Neill is “taking over the British energy behemoth at a time when it has fallen behind the other global oil and gas supermajors and was even a potential takeover target earlier this year by rival Shell.”Is there anything glass cliff-ier than this stat:Helge Lund has now overseen BP's failed Murray Auchincloss tenure, Bernard Looney's tenure, and Bob Dudley's leaving (6 year tenure) and Novo Nordisk's incredible succession failure, the failure of Nokia in 2013… I hate having to celebrate a female first - like becoming a CEO when eminently overqualifiedSam Altman againSam Altman says he has '0%' excitement about being CEO of a public company ahead of a potential OpenAI IPOHe changed it from a non profit to a for profit in order to go public and make all the money.Also: “billionaire says”Sam Altman Sounds Alarm As ChatGPT Explodes Globally: 'Rate Of Change' Sparks AI Anxiety, Job FearsSam Altman Uses His New Image Generator to Show Himself As a Jacked Fireman With Washboard Abs… With an Absolutely Hilarious ErrorSam Altman says OpenAI has gone 'code red' multiple times; and they'll do it againThe “sound the alarm” gaslightPeter C. Earle, Ph.D, Director of Economics and Economic Freedom and Senior Research Fellow at American Institute for Economic Research DRStop Fixating on CEO Pay Ratios and Start Fixing Labor Markets“The average employee is hired under conditions of broad substitutability — many people can competently perform the role with modest training. The CEO labor market is the opposite: extremely small, specialized, global, and contingent on track records that can shift a firm's valuation by billions of dollars. The demand curve for top executive talent is steep; the supply curve is extraordinarily thin.”“Skilled executives can influence strategy, capital allocation, risk management, and organizational culture in ways that affect firm performance far more than incremental labor inputs elsewhere in the organization, even if the latter are voluminous. If a CEO's decisions add even a few percentage points to long-term returns, the economic value created dwarfs the compensation.”Translation: CEOs are worth it, regular workers are not. “Such a ratio also ignores value creation. [...] The relevant question is not “Is the ratio of worker to executive pay too large?” but rather “Does the CEO create more value than their talent costs?”Does not propose how to prove value creation of the CEO other than “stock go up”Earle had this to say about leadership in 2019: “teams (also companies, organizations, groups, and so on) which experience outstanding success inevitably cite leadership as a factor — often the decisive one, and frequently emanating from a particular individual.”“But it should come as no surprise that many successful sports teams, firms, and organizations readily identify leadership as the decisive factor in their triumphs. It's a better story than merely having incredible resources and facilities, superior performance, or as is often the case: simple, garden-variety luck.”Headliniest of the WeekDR: Ryanair CEO Michael O'Leary plans to step down by 2035 & Chipotle chases the protein craze with new menu items — including meat in a cupMM: LinkedIn CEO says it's ‘outdated' to have a five-year career plan: It's a ‘little bit foolish' considering the pace AI is changing the workplaceWho Won the Week?DR: Powerful women at BPMM: 4 year career plansPredictionsDR: David Ellison cancels his Netflix subscription then hires Erika Kirk to run programming at Nickelodeon and MTVMM: Ryanair CEO Michael O'Leary steps down in 2035 and become executive chair, pledging to step down as executive chair in 2057.

Join Money Metals' Mike Maharrey and Dr. Peter Earle – Director of Economics and Economic Freedom and a Senior Research Fellow at the American Institute of Economic Research – as they discuss the gold standard, why governments dislike it and the reasons behind why it was abolished. 

Long-term care is expensive in the United States. With Medicaid spending cuts looming and the Trump administration's deportation plans threatening the caregiving workforce, the system is under even more pressure. On today's show, Allison Hoffman, health law expert at the University of Pennsylvania's Carey Law School, joins Kimberly to unpack why the caregiving industry suffers from chronic labor shortages and how the U.S. could finance long-term care differently to make it more affordable. Here's everything we talked about today:"What Role Do Immigrants Play in The Direct Long-Term Care Workforce?" from KFF"Trump's deportation plans threaten 400,000 direct care jobs: Older adults and people with disabilities could lose vital in-home support" from Economic Policy Institute "A brief history of Medicaid and America's long struggle to establish a health care safety net" from The Conversation "The age-old problem of long-term care" from MIT News "Solving the Home Care Quandary" from The New York TimesJoin us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

Dave Smith brings you the latest in politics! On this episode of Part Of The Problem, Dave and Robbie "The Fire" Bernstein talk about the recent terrorist attack in Australia, Donald Trump's tweet regarding Rob Reiner's death, the wildest statements made by trump at his Hanukkah reception, and more.Order Lauren Smith's book here: https://a.co/d/67djjBpSupport Our Sponsors:The Wellness Company - For the men! Balance hormones naturally with MARS from The Wellness Company! https://twc.health/problem and use code PROBLEM for 10% + Free Shipping on all orders.Proton - Get Proton Drive using Dave's exclusive offer! -https://www.proton.me/davesmithRidge - https://ridge.com/potp10Express VPN: https://www.expressvpn.com/problemPart Of The Problem is available for early pre-release at https://partoftheproblem.com as well as an exclusive episode on Thursday!PORCH TOUR DATES HERE:https://www.eventbrite.com/cc/porch-tour-2025-4222673Find Run Your Mouth here:YouTube - http://youtube.com/@RunYourMouthiTunes - https://podcasts.apple.com/us/podcast/run-your-mouth-podcast/id1211469807Spotify - https://open.spotify.com/show/4ka50RAKTxFTxbtyPP8AHmFollow the show on social media:X:http://x.com/ComicDaveSmithhttp://x.com/RobbieTheFireInstagram:http://instagram.com/theproblemdavesmithhttp://instagram.com/robbiethefire#libertarian See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Our Head of Corporate Research Andrew Sheets and Chief Investment Officer for Morgan Stanley Wealth Management Lisa Shalett unpack what's fueling persistent U.S. inflation and how investors could adjust their portfolios to this new landscape.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. Lisa Shalett: And I'm Lisa Shalett, Chief Investment Officer for Morgan Stanley Wealth Management. Andrew Sheets: Today, is inflation really transitory or are we entering a new era where higher prices are the norm? Andrew Sheets: It's Thursday, December 18th at 4pm in London. Lisa Shalett: And it's 11am in New York. Andrew Sheets: Lisa, it's great to talk to you again. And, you know, we're having this conversation in the aftermath of, kind of, an unusual dynamic in markets when it comes to inflation. Because inflation is still hovering around 3 percent. That's well above the Federal Reserve's 2 percent target. And yet the Federal Reserve recently lowered interest rates again. Fiscal policy remains very stimulative, and I think there's this real question around whether inflation will moderate? Or whether we're going to see inflation be higher for longer. And you know, you are out with a new report touching on some of the issues behind this and why this might be a structural shift higher in inflation. So, we'd love to get your thoughts on that, and we'll drill down into the various drivers as this conversation goes on. Lisa Shalett: Thanks Andrew. And look, I think as we take a step back, and the reason we're calling this a regime change is because we see factors for inflation coming from both the demand side and the supply side. For example, on the demand side, the role of the infrastructure boom, the GenAI infrastructure boom, has become global. It has caused material appreciation of many commodities in 2025. We're seeing it obviously in some of the dynamics around precious metals. But we're also seeing it in industrial metals. Things like copper, things like nickel. We're also seeing demand factors that may stem from the K-shaped economy. And the K-shaped economy, as we know, is really about this idea that the wealthiest folks are increasingly dominating consumption. And they are getting wealthy through financial asset inflation. On the supply side, there are dynamics like immigration, dynamics around the housing market that we can talk about. But perhaps the wrapper around all of it is how policy is shifting – because increasingly policymakers are being constrained by very high levels of debt and deficits. And determining how to fund those debts and deficits actually removes some of the degrees of freedom that central bankers may have when it comes to actually using interest rates to constrain demand. Andrew Sheets: Well, Lisa, this is such a great point because we're financial analysts. We're not political analysts. But it seems safe to say that voters really don't like inflation. But they also don't like some of the policies that would traditionally be assigned to fight inflation – be they higher interest rates or tighter fiscal policy. And even some of the more recent political shifts that we've seen – I'm talking about the U.S. around, say, immigration policy could arguably be further tightening of that supply side of the economy – measures designed to raise wages, almost explicitly in their policy goals. So how do you see that dynamic? And, again, kind of where does that leave, you think, policy going forward? Lisa Shalett: Yeah. I think the very short answer – our best guess is that policy becomes constrained. So, on the monetary side, we're already seeing the Fed beginning to signal that perhaps they're going to rely on other tools in the toolkit. And what are those tools in the toolkit? Well, they're managing the size of their balance sheet, managing the duration or the mix of things that they hold in the balance sheet. And it's actual, you know, returns to how they think about reserve management in the banking system. All of those things, all of those constraints may enable the U.S. government to fund debts, right? By buying the Treasury bill issuance, which is, you know, swollen to almost [$]2 trillion a year in terms of U.S. deficits. But on the fiscal side, right, the interest payments on debt, begins to crowd out other government spending. So, policy itself in this era of fiscal dominance becomes constrained – both in, you know, Washington, D.C. and from Congress – what they can do, their degrees of freedom – and what the central bank can do to actually control inflation. Andrew Sheets: Another area that you touch on in your report is energy and technology, which are obviously related with this large boom that we're seeing – and continue to expect in AI data center construction. This is a lot of spending on the technology. This is a lot of power needed to power that technology and U.S. data center electricity demand is growing at a rapid rate. And transmission constraints are causing prices to go up. A price that is a pretty visible price for a lot of people when they get their utility bill. So, how do these factors you think shape the story? And where do you think they're going to go as we look into the future? Lisa Shalett: Yeah, 100 percent. I mean, I think, you know, when we talk about, you know, who's going to dominate in Generative AI globally, one of the factors that we have to take into consideration is what is the cost of power? What is the cost of electricity? What is the age of the infrastructure to both generate that electricity and transport it? And transmit it? This is one of the areas where the U.S., at the minute, is facing genuine constraints. When you think about some of the forecasts that have been put out there in terms of $10 trillion of spending related to Generative AI, the number of data centers that are going to be built, and the power shortfall that has been forecast. We're talking about someone having to pay the price, if you will, to ration power until you can upgrade the grid. And in the U.S., that grid upgrade, to be blunt, has lagged some of the rest of the world. Not only because the rest of the world was slower to modernize and leapfrogged in many ways. But we know in China, for example, they have one of the lowest electricity generation costs on the planet. That is an advantage for them. So, we have to consider that power generation writ large is potentially a force for upward inflation, at least in the short term. Andrew Sheets: So we have the fiscal policy backdrop. We have an AI spending backdrop both contributing to the demand side of inflation. We have these supply constraints, whether it's housing or labor also, you know, potentially being more structural drivers of higher inflation. The question I'm sure that investors are asking you is, what should they do about it? So, can you walk us through the key strategies that investors might want to consider as they navigate a new inflationary regime? Lisa Shalett: Sure. So, the first thing that we think it's really important for folks to appreciate is that typically when we've been in these higher inflation regimes in the past, stocks and bonds become positively correlated. And what that means is that the power of a very simple 60-40 or stock-bond-cash portfolio to provide complete or optimal diversification fades. And it requires investors to potentially consider investing, especially beyond fixed income. Stocks very often are pro-inflationary assets; meaning many, many companies have the power to pass through price increases. If you are consuming income from a fixed income or a bond instrument, inflation is your enemy, right? Because it's eating into your real returns. And so, one of the things that we're talking with our clients a lot about in terms of portfolio construction are things like adding real assets, adding infrastructure assets, adding energy, transportation assets, adding commodities. Adding gold even, to a certain extent. You know, there may be cryptocurrencies that have lower correlations to their portfolios. Andrew Sheets: Just to play devil's advocate, you can imagine that some investors might say, ‘Well, I can look in the market at long-term inflation expectations.' And those long-term inflation expectations have been kind of stable and a bit above the Fed's target. But not dramatically. So, what do you say to that? And what do you think those markets either might be missing? Or how could investors leverage that more benign view that's out there in the market? Lisa Shalett: Yeah, so look, I think here's where the debate, right? Our perception has been that inflation expectations have remained extraordinarily anchored – because investors have actually reasonably short memories on the one hand, and we have, by and large, been in disinflationary times. Second, there's extraordinary faith in policy makers – that policy makers will fight inflation. And I think the third thing is that there's extraordinary faith in the deflationary forces of technology. Now, all three of those things may absolutely, positively be true. The problem that we have is that the alternate case, right? The case that we're making – that maybe we're in a new inflationary regime is not priced, and the risk is non-zero. And so, what we see, and what we're watching is – how steep does the yield curve get, right? As we look at yields in the 10-30-year tenure – what is driving those rates higher? Is it a generic term premium? Or are we starting to see an unanchoring, if you will, of inflation expectations. And it takes a while for people to appreciate regime change. And so, look, as is always the case, there's no absolutes in the market. There's no one theory that is priced and the other theory is not. But sometimes you want to hedge, and we think that we're going through a period where diversified portfolios and hedging for these alternative outcomes -- because there are such powerful structural crosscurrents – is the preferred path. Andrew Sheets: Lisa, thanks for sharing your insights Lisa Shalett: Of course, Andrew. That's my pleasure. Andrew Sheets: As a reminder, if you enjoy Thoughts on the Market, please take a moment to rate and review us, wherever you listen. It helps more people find the show.

Long-term care is expensive in the United States. With Medicaid spending cuts looming and the Trump administration's deportation plans threatening the caregiving workforce, the system is under even more pressure. On today's show, Allison Hoffman, health law expert at the University of Pennsylvania's Carey Law School, joins Kimberly to unpack why the caregiving industry suffers from chronic labor shortages and how the U.S. could finance long-term care differently to make it more affordable. Here's everything we talked about today:"What Role Do Immigrants Play in The Direct Long-Term Care Workforce?" from KFF"Trump's deportation plans threaten 400,000 direct care jobs: Older adults and people with disabilities could lose vital in-home support" from Economic Policy Institute "A brief history of Medicaid and America's long struggle to establish a health care safety net" from The Conversation "The age-old problem of long-term care" from MIT News "Solving the Home Care Quandary" from The New York TimesJoin us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

FCC scrubs "independent agency" language from their website as they decide they're with the dictator. Phil Ittner - Ukraine Update - reality bites...Russia. Trump Turns the White House Into a Petty Propaganda Museum.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A stark look at the speech that blurred the line between leadership and losing control on the world stage…See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.