Podcasts about Economics

Dave Smith brings you the latest in politics! On this episode of Part Of The Problem, Dave talks about various right wing influencers' takes on the war with Venezuela, how it relates to previous wars of choice in American history, and more.Support Our Sponsors:Hexclad - Find your forever cookware @hexclad and get10% off at https://hexclad.com/PROBLEM! #hexcladpartnerSheath - https://sheathunderwear.com use promo code PROBLEM20Vandy Crisps - https://vandycrisps.com/dave Use code "DAVE" for 25% offYoKratom - https://yokratom.com/Part 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.

The Rich Zeoli Show- Hour 2: 4:00pm- Christine Hanlon—Chair of the New Jersey Republican Party—joins The Rich Zeoli Show. Hanlon was elected on Monday night and details how she plans to bounce back from the GOP's disappointing election cycle last November. 4:30pm- Pete Earle—Director of Economics at the American Institute for Economic—joins The Rich Zeoli Show to discuss the economic impact of Venezuelan authoritarian Nicolas Maduro's removal from power. Plus, New York City's new Tenant Director Cea Weaver says that “people like home ownership because they like control—which is rooted in a racist and classist society.” Mayor Zohran Mamdani's term is off to an interesting start… 4:50pm- Rich goes to the shooting range!

The Rich Zeoli Show- Full Episode (01/07/2026): 3:05pm- Could the U.S. purchase Greenland from Denmark? Secretary of State Marco Rubio suggests it could be a possibility. But the New York Times argues that purchasing the territory isn't necessary, as a Cold War agreement grants the United States “sweeping military access in Greenland.” 3:20pm- According to a statement from the Department of Homeland Security, a woman was shot and killed by immigration agents in Minnesota after attempting to run over ICE agents. Minneapolis Mayor Jacob Frey accused ICE of “causing chaos and distrust” and stated: “To ICE, get the f*ck out of Minneapolis.” 3:40pm- In a post to Truth Social, President Donald Trump wrote: “I have just viewed the clip of the event which took place in Minneapolis, Minnesota. It is a horrible thing to watch. The woman screaming was, obviously, a professional agitator, and the woman driving the car was very disorderly, obstructing and resisting, who then violently, willfully, and viciously ran over the ICE Officer, who seems to have shot her in self-defense.” 4:00pm- Christine Hanlon—Chair of the New Jersey Republican Party—joins The Rich Zeoli Show. Hanlon was elected on Monday night and details how she plans to bounce back from the GOP's disappointing election cycle last November. 4:30pm- Pete Earle—Director of Economics at the American Institute for Economic—joins The Rich Zeoli Show to discuss the economic impact of Venezuelan authoritarian Nicolas Maduro's removal from power. Plus, New York City's new Tenant Director Cea Weaver says that “people like home ownership because they like control—which is rooted in a racist and classist society.” Mayor Zohran Mamdani's term is off to an interesting start… 4:50pm- Rich goes to the shooting range! 5:00pm- On Wednesday, the Trump administration released its updated U.S. dietary guidelines. Every five years the Agriculture and Health and Human Services departments release updated recommendations. While speaking to the press, Sec. Robert Kennedy Jr. declared a “war on sugar” and implored Americans to “eat real food.” 5:20pm- Rich plays a video of his time at the shooting range—and it's impressive. Even YouTube commenters BogsChips and CornPopsRevenge agree! 5:30pm- Rich's BIG announcement: Beginning next week, The Rich Zeoli Show will take on a new form! The show will become a one-hour, nationally focused podcast which can be heard locally on 1210 WPHT from 6pm to 7pm! 5:40pm- Linda Kerns—Attorney & Pennsylvania Election Integrity Counsel for the Republican National Committee and Donald Trump—joins The Rich Zeoli Show! She discusses filling in for Zeoli over the show's holiday break, Elvis Pressley's birthday, and her continued fight to eliminate voter fraud. 6:05pm- According to a statement from the Department of Homeland Security, a woman was shot and killed by immigration agents in Minnesota after attempting to run over ICE agents. Minneapolis Mayor Jacob Frey accused ICE of “causing chaos and distrust” and stated: “To ICE, get the f*ck out of Minneapolis.” 6:10pm- On Wednesday, the House Oversight Committee heard testimony from Minnesota state officials regarding the billions-of-dollars lost to welfare fraud. During one exchange, it was revealed that in March 2021 the Minnesota Department of Education suspended payments to the Feeding Our Future program over fears of fraud. Though the payments quickly resumed after state officials were baselessly accused of halting payments due to “racial discrimination.” 6:30pm- Department of Homeland Sec. Kristi Noem held a press conference—providing the latest details about a woman who was shot and killed by immigration agents in Minnesota after she appeared to attempt to run over ICE agents.

Brian Nowak: Welcome to Thoughts on the Market. I'm Brian Nowak, Morgan Stanley's Head of U.S. Internet Research. Andrew Percoco: And I'm Andrew Percoco, Head of North America Autos and Shared Mobility Research. Brian Nowak: Today we're going to talk about why we think 2026 could be a game changer and a point of inflection for autonomous vehicles and autonomous driving. It's Thursday, January 8th at 10am in New York. So, Andrew, let's get started. Have you ridden an autonomous car before? Andrew Percoco: Yeah, absolutely. Took a few in L.A., took one in San Francisco not too long ago. Pretty seamless and interesting experience to say the least. Brian Nowak: Any accidents or awkward left turns? Or did you feel pretty comfortable the whole time? Andrew Percoco: No, I felt pretty comfortable the whole time. No edge cases, no issues. So, all five star reviews for me. Brian Nowak: Andrew, we think your answer is going to be a lot more common as we go throughout 2026. As autonomous availability scales throughout more and more cities. Things are changing quickly. And we kind of look at our model on a city-by-city basis. We think that overall availability for autonomous driving in the U.S. is going to go from about 15 percent of the urban population at the end of 2025 to over 30 percent of the urban population by year end 2026. Andrew Percoco: Yeah, totally agree. Brian, I'm just curious. Like maybe layout for us, you know, what you're expecting for 2026 in more detail in terms of city rollouts, players involved and what we should be watching for throughout the next, you know, nine to 12 months. Brian Nowak: We have multiple new cities across the United States where we expect Waymo, Tesla, Zoox, and others to expand their fleet, expand autonomous driving availability, and ultimately make the product a lot more available and commonplace for people. There are also new potential edge cases that we think we're going to see. We're going to have our first snow cities with Waymo expected to launch in Washington, D.C.; potentially in Colorado, potentially in Michigan. So, we could have proof of concept that autonomous driving can also work in snow throughout [20]26 and into 2027 as well. So, in all, we think as we sit here at the start of [20]26, one year from now, there's going to be a lot more people who are going to say: I'm using an autonomous car to drive me around in my everyday practice. Andrew Percoco: Yeah, that makes a lot of sense. And I guess, what do you think the drivers are to get us there, right? There's also some concerns about safety, adoption, you know, cost structure. What are the main drivers that really make this growth algorithm work and really scales the robotaxi business for some of the key players? Brian Nowak: Part of it is regulatory. You know, we are still in a situation where we are dealing with state-by-state regulatory approvals needed for these autonomous vehicles and autonomous fleets to be built. We'll see if that changes, but for now, it's state by state regulation. After that, it comes down to technology, and each of the platforms needs to prove that their autonomous offerings are significantly safer than human driving. That is also linked to regulatory approval. And so, when we think about fleets becoming safer, proving that they can drive people more miles without having an accident than even a human can – we think about the autonomous players then scaling up their fleets. To make the cars and fleets available to more people. That is sort of the flywheel that we think is going to play out throughout 2026. The other part that we're very focused on across all the players from Waymo to Tesla to Zoox and others is the cost of the cars. And there is a big difference between the cost of a Waymo per mile versus the cost of a Tesla per mile. And we think one of the tension points, Andrew, that you can, you can talk about a little bit here, is the difference in the safety data and what we see on Tesla as of now versus Waymo – versus the cost advantage that Tesla has. So, talk about the cost advantage that Tesla has through all this as of right now. Andrew Percoco: Yeah, definitely. So, you know, as you mentioned, Tesla today has a very clear cost advantage over many of the robotaxi peers that they're competing with. A lot of that's driven by their vertical integration, and their sensor suite, right? So, their vehicle, the cost of their vehicle is – call it $35,000. You've got the camera only sensor approach. So, you don't have lidar, expensive lidar, and radar in the vehicle. And that's just really driven a meaningful cost improvement and cost advantage. On our math about a 40 percent cost advantage relative to Waymo today. Now going forward, you know, as you mentioned, I think the key hurdle here or bottleneck, that Tesla still needs to prove is their safety. And can they reach the same safety standards as a human driver? And, you know, the improvement that you've seen from Waymo. You know, to put some numbers around this. Based on publicly available data in Austin, Tesla's getting in a crash, you know, every about, call it every 50,000 miles; Waymo is closer to every 400,000 miles per crash. So today, Waymo is the leader on safety.I think the one important caveat that I want to mention here is that's on a relatively small number of miles driven for Tesla. They've only driven about 250,000 miles in Austin, whereas Waymo's driven close to, I think, a hundred million miles cumulatively. So, when you look back, I think this is going to be the kind of key catalyst and key data point for investors to watch is – how that data improves over the course of 2026. If you track Waymo – Waymo's data improved substantially as their miles driven improved, and as they launched into new cities.We'd expect Tesla to follow a similar trend. But that's going to be a huge catalyst in validating this camera only approach. If that happens, Tesla's not limited in scale, they're not limited in manufacturing capacity. You can meaningfully see them expand… Or you can see them expand quite quickly once they prove out that safety requirement. Brian Nowak: I think it's a great point because, you know, one of the other big debates that we are all going to have to monitor in the AV space throughout 2026 is: How quickly does Tesla completely pull the safety drivers, and how quickly do they scale up production of the vehicles? Because one of the bank shots around autonomous driving is actually the rideshare industry. You know, we have partnerships; some partnerships between Waymo and Uber and Waymo and Lyft. But Tesla is not partnering with anyone. And so, I think the extent to which we see a faster than expected ramp up in deployment from Tesla can have a lot of impact. Not only on autonomous adoption, competition with Waymo, but also the rideshare industry.So how do you think about the puts and takes on Tesla and sort of removing the drivers and scaling up the fleet this year? What should we be watching? Andrew Percoco: Yeah, so they've already made some strides there in Austin. They've pulled the safety monitor. They haven't opened that up to the public yet without the safety monitor. They're still testing, presumably in that geography. They need to be extremely careful in terms of, you know, the regulatory compliance and making sure they're doing this in a safe way. Ultimately that's what matters most to them. We do expect them to roll it out to the public without the safety monitor in 2026. Whether or not, that's the first quarter or the third quarter – is a little bit tougher to predict. But I think it's reasonable to assume whatever the timeline is, they're going to make sure it's the safest way possible to ensure that there's, you know, no unintended consequences as it relates to regulation, et cetera. I think one, also; one important data point or interesting data point here. You know, we model, I think, a 100 percent CAGR in miles driven, autonomous miles driven through 2032. You can talk a little bit about, you know, what the implications for rideshare, but I think important. It's important to contextualize that would still only represent less than 1 percent of total U.S. miles driven in the U.S. So substantial growth over the next, call it six or seven years. But still a massive TAM to be tapped into beyond 2032. And I think the key there is – what's the cost reduction roadmap look like? And can we get robotaxis to a point where they are cheaper than personal car ownership? And could robotaxis at some point disrupt the car ownership process? Brian Nowak: Yeah. And the other more important point around rideshare will be how much do these autonomous offerings expand the addressable market for rideshare and prove to be incremental? As opposed to being cannibalistic on existing ride share rides. Because you're right that, you know, even our out year autonomous projections still have it less than 1 percent of the total trips. But the question is how much does that add to ride share? Because in some scenarios, those autonomous trips could end up being 20 to 30 percent of the rideshare industry. This matters for Uber and Lyft because while they are partnering Waymo and other autonomous players across a handful of markets, they're not partnered in all the markets. And in some markets, Waymo is going alone. Tesla is going at it alone. And so when we look at our model and we say as of 2024, Uber and Lyft make up 100 percent of the ride share industry based on the current partnerships, which includes Waymo and Tesla and all; and Zoox and all the players, we think that Uber and Lyft will only make up 30 percent of the autonomous driving market. And so it's really important for the rideshare industry that when, number one, we see AV's being incremental to the TAM; and two, that Uber and Lyft are able to continue to add more partnerships over time to drive more of that overall long-term AV opportunity and participate in all this rideshare industry over the next five years. Andrew Percoco: I think it's really clear that the future of autonomous vehicles is here and we've reached an inflection point; and there's a lot of interesting catalysts and data points for us and for investors to watch for throughout 2026.So Brian, thanks again for taking the time to talk. Brian Nowak: Andrew, great speaking with you. 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.

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On Wednesday, January 7, President Trump sent out two messages via social media: First, that he was “banning institutional ownership of residential real estate.” Later, that he was “outlawing return of capital to shareholders.” The Warren/Sanders/Mamdani wing of the Democratic Party is celebrating. The Reagan/Hayek/Laffer wing of the Republican wing is scratching its head.Today, David goes back to the utterly incoherent idea that institutions putting investment into residential real estate (all 0.4 percent of the single-family residences this represent) is behind the affordability issues. He reminds listeners what “supply-side” growth means. And he does a quick refresher on capital formation, and how capital is needed to innovate, and that how capital gets treated is somewhat relevant to that process. It's a plea to remember first principles when it comes to economic policy, and why we have spent a lifetime rejecting this Marxian drivel. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Superpowers for Good should not be considered investment advice. Seek counsel before making investment decisions. When you purchase an item, launch a campaign or create an investment account after clicking a link here, we may earn a fee. Engage to support our work.Watch the show on television by downloading the e360tv channel app to your Roku, LG or AmazonFireTV. You can also see it on YouTube.Devin: What is your superpower?Tom: I feel like my core superpower is convincing people to believe in my dreams and rallying them around.Most people view recycling as a public service, but the reality is that it is a business governed by the ruthless laws of economics. If the value of the material recovered doesn't exceed the cost to collect and process it, that item ends up in a landfill. This economic gap is exactly where Tom Szaky has built an empire.Recently, Tom Szaky, the CEO and founder of TerraCycle, shared insights on how he is tackling the world's garbage problem. His company isn't just a recycling firm; it is a supply chain innovator that figures out how to recycle the “unrecyclable,” from cigarette butts to dirty diapers.Tom explains the core issue with clarity. “The reality is most things in the world can be recycled. The difference is that recycling is not really a public service. It's run by for-profit companies.”He notes that aluminum cans are recycled because they are profitable. Conversely, complex items like coffee capsules cost more to process than the aluminum is worth. TerraCycle solves this by finding stakeholders—brands, retailers, and cities—willing to fund that gap.This model has proven incredibly successful. TerraCycle has been profitable for years and recently completed a Regulation Crowdfunding offering for TerraCycle US. They raised $5 million in less than 60 days.Investors are drawn to the company not just for its mission but for its financial discipline. Tom highlighted that previous investors have already received significant returns. “If you invested, say $1,000 in REG A back five years ago, you'd have already been paid somewhere between 17% and 20% of that invested capital in dividends.”Tom Szaky, Founder and CEO of TerraCycle, will be speaking at SuperGreen Live, sharing insights on sustainability, circular economy solutions, and rethinking waste at scale—register now at SuperGreenLive.orgTom challenges the old binary that you either make money or you do good. He believes purpose fuels business fundamentals. By locating his HQ in Trenton, New Jersey, he revitalizes an underserved community while gaining access to affordable real estate and a diverse talent pool.“Why should on one end we make money and on the other end give it away to NGOs to help save the world?” Tom asks. “Why can't those two concepts come together where you can invest in a profitable business whose core focus is making the world better?”TerraCycle is proving that you can indeed do both. By aligning profit with planetary health, Tom is showing a path toward a zero-waste world that makes economic sense.tl;dr:TerraCycle creates supply chains for hard-to-recycle waste by getting stakeholders to fund the cost gap.Recycling is an economic challenge because items are only recycled locally if they generate profit.Tom recently raised $5 million via Regulation Crowdfunding by demonstrating proven growth and consistent dividends.Purpose-driven business models can drive better economic fundamentals like lower costs and government support.Tom's superpower is rallying people around a vision by starting with a beautiful, impactful idea.How to Develop Rallying Believers As a SuperpowerTom describes his superpower as the ability to get others to see his vision and join him in executing it. It isn't just about salesmanship; it is about authentic conviction. He explains, “I feel like my core superpower is convincing people to believe in my dreams and rallying them around.” This ability allows him to mobilize diverse groups, from college interns to multinational corporations, to tackle massive global challenges like waste elimination.To illustrate this, Tom shared a charming story from his childhood. In second grade, he had a vision of folding thousands of origami cranes to create a decorative entryway for his bedroom. He started folding them at a table with four other classmates. He didn't force them to help; he just started doing the work with passion. Within two days, the whole table was folding cranes. By the end of the week, the entire class was involved. This early experience taught him that if you lead with action and a compelling idea, people will naturally want to be part of the journey.How to Develop This SuperpowerFor those interested in rallying people around a vision, Tom offers several insights that can help transform this into a skill:Start with a beautiful idea. The core concept should not just be about making money. It must be something that makes the world better, more beautiful, or more sustainable.Believe in it yourself. Authentic, unwavering belief in a dream is essential before expecting others to follow.Just start doing it. Action attracts others. By beginning the work, people will naturally gravitate toward the energy and vision.View profit as health, not the goal. While profit is necessary to survive, keeping the mission as the central focus ensures authenticity. This, in turn, attracts investors, employees, and partners who want to be part of something meaningful.Maintain clarity of vision. Instead of trying to fix everything at once, a focused approach on a specific area of expertise drives meaningful change.By following Tom's example and advice, rallying believers can become a powerful skill. With practice and effort, this superpower can enable individuals and organizations to achieve greater impact.Remember, however, that research into success suggests that building on your own superpowers is more important than creating new ones or overcoming weaknesses. You do you!Guest ProfileTom Szaky (he/him):CEO/Founder, TerraCycleAbout TerraCycle: TerraCycle is an international leader in innovative sustainability solutions, creating and operating first-of-their-kind platforms in recycling, recycled materials, and reuse. Across 18 countries, TerraCycle is on a mission to eliminate the idea of waste and develop practical solutions for today's complex waste challenges. The company engages an expansive multi-stakeholder community, from Fortune 500 companies to schools and households, across a wide range of accessible programs and has raised millions for schools and nonprofits since its founding more than 20 years ago. To learn more about TerraCycle and join them on their journey to move the world from a linear economy to a circular one, please visit terracycle.com.Website: terracycle.comCompany Facebook Page: facebook.com/terracycleInstagram Handle: @terracycleOther URL: invest.terracycle.comBiographical Information: Tom Szaky is founder and CEO of TerraCycle, an international leader in innovative sustainability solutions, creating and operating first-of-their-kind platforms in recycling, recycled materials, and reuse. Across 21 countries, TerraCycle is on a mission to rethink waste and develop practical solutions for today's complex waste challenges. The company engages an expansive multi-stakeholder community across a wide range of accessible programs, from Fortune 500 companies to schools and individuals.In 2019, TerraCycle launched Loop, a circular reuse platform that enables consumers to purchase products in durable, reusable packaging. Loop is available in France, Japan, and the U.S., and is a key step in helping to end the epidemic of waste that is caused by “single-use” consumption. Tom and TerraCycle have received hundreds of social, environmental, and business awards and recognition from a range of organizations, including the United Nations, World Economic Forum, Fortune Magazine, Time Magazine, and the U.S. Chamber of Commerce.Tom is the author of four books: Revolution in a Bottle, Outsmart Waste, Make Garbage Great, and The Future of Packaging. Tom created, produced, and starred in TerraCycle's reality show, Human Resources, which aired on Pivot from 2014–2016 and is syndicated in more than 20 foreign markets on Amazon and iTunes.LinkedIn Profile: linkedin.com/in/tomszakySupport Our SponsorsOur generous sponsors make our work possible, serving impact investors, social entrepreneurs, community builders and diverse founders. Today's advertisers include RISE Robotics, and Crowdfunding Made Simple. Learn more about advertising with us here.Max-Impact Members(We're grateful for every one of these community champions who make this work possible.)Brian Christie, Brainsy | Cameron Neil, Lend For Good | Carol Fineagan, Independent Consultant | Hiten Sonpal, RISE Robotics | John Berlet, CORE Tax Deeds, LLC. | Justin Starbird, The Aebli Group | Lory Moore, Lory Moore Law | Mark Grimes, Networked Enterprise Development | Matthew Mead, Hempitecture | Michael Pratt, Qnetic | Mike Green, Envirosult | Dr. Nicole Paulk, Siren Biotechnology | Paul Lovejoy, Stakeholder Enterprise | Pearl Wright, Global Changemaker | Scott Thorpe, Philanthropist | Sharon Samjitsingh, Health Care Originals | Add Your Name HereUpcoming SuperCrowd Event CalendarIf a location is not noted, the events below are virtual.SuperCrowdHour, January 21, 2026, at 12:00 PM Eastern. Devin Thorpe, CEO and Founder of The Super Crowd, Inc., will lead a session on “From $10 to Impact: How Anyone Can Become an Impact Investor.” Drawing on his experience as an investment banker, impact investor, and community-building leader, Devin will explain how everyday people can start investing small amounts to support mission-driven companies while pursuing financial returns. In this session, he'll break down the basics of regulated investment crowdfunding, show how impact and profit can align, and share practical steps for identifying opportunities that create real-world change. As an added benefit, attendees can become an Impact Member of the SuperCrowd for just $4.58 per month to receive an exclusive private Zoom meeting invitation with Devin, free tickets to paid SuperCrowd events, and the opportunity to directly support social entrepreneurs, community builders, and underrepresented founders.SuperGreen Live, January 22–24, 2026, livestreaming globally. Organized by Green2Gold and The Super Crowd, Inc., this three-day event will spotlight the intersection of impact crowdfunding, sustainable innovation, and climate solutions. Featuring expert-led panels, interactive workshops, and live pitch sessions, SuperGreen Live brings together entrepreneurs, investors, policymakers, and activists to explore how capital and climate action can work hand in hand. With global livestreaming, VIP networking opportunities, and exclusive content, this event will empower participants to turn bold ideas into real impact. Don't miss your chance to join tens of thousands of changemakers at the largest virtual sustainability event of the year. Learn more about sponsoring the event here. Interested in speaking? Apply here. Support our work with a tax-deductible donation here.Demo Day at SuperGreen Live. Apply now to present at the SuperGreen Live Demo Day session on January 22! The application window is closing soon; apply today at 4sc.fun/sgdemo. The Demo Day session is open to innovators in the field of climate solutions and sustainability who are NOT currently raising under Regulation Crowdfunding.SuperCrowd Impact Member Networking Session: Impact (and, of course, Max-Impact) Members of the SuperCrowd are invited to a private networking session on January 27th at 1:30 PM ET/10:30 AM PT. Mark your calendar. We'll send private emails to Impact Members with registration details.Community Event CalendarSuccessful Funding with Karl Dakin, Tuesdays at 10:00 AM ET - Click on Events.Join UGLY TALK: Women Tech Founders in San Francisco on January 29, 2026, an energizing in-person gathering of 100 women founders focused on funding strategies and discovering SuperCrowd as a powerful alternative for raising capital.If you would like to submit an event for us to share with the 10,000+ changemakers, investors and entrepreneurs who are members of the SuperCrowd, click here.Manage the volume of emails you receive from us by clicking here.We use AI to help us write compelling recaps of each episode. Get full access to Superpowers for Good at www.superpowers4good.com/subscribe

If you've ever wondered why so many people assume progress is automatic, why trillion-dollar deficits barely raise eyebrows anymore, or why “economic planning” keeps making a comeback despite its long record of failure—this episode gets to the heart of the issue.Prosperity doesn't happen by accident. Freedom doesn't sustain itself. And history doesn't bend toward progress unless the rules of the game allow it to.That's why this conversation matters.My guest is Dr. Peter Boettke, Distinguished University Professor of Economics at George Mason University and Director of the F.A. Hayek Program at the Mercatus Center. This is Peter's third appearance (episodes 10 and 119) on the Let People Prosper Show, and every time he joins, he brings clarity to questions most policymakers avoid.Today's discussion centers on his new book, The Historical Path to Liberty and Human Progress, which makes a simple but uncomfortable point: human flourishing depends on institutions—and bad institutions destroy progress faster than good intentions can save it.At a time of runaway federal spending, renewed industrial policy, and bipartisan refusal to confront tradeoffs, this conversation couldn't be more timely.

Dave Smith brings you the latest in politics! On this episode of Part Of The Problem, Dave and Robbie "The Fire" Bernstein talk about new developments on the conflict with the US and Venezuela, JD Vance's tweet responding to people's skepticism about Venezuelan drugs in the US, Pam Bondi's statements on the matter on Fox News, and more.Support Our Sponsors:The Wellness Company - Spike Detox your body! Click http://www.twc.health/problem and use code PROBLEM for 10% Off + Free Shipping for USA residentsBrunt Workwear - http://bruntworkwear.com/ Use code PROBLEMRidge - https://ridge.com/potp10IndaCloud - If you're 21 or older, get 40% OFF your first order + free shipping @IndaCloud with code [PROBLEM] at https://inda.shop/PROBLEM! #indacloudpodPart 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 Chief Fixed Income Strategist Vishy Tirupattur is joined by Dan Toscano, the firm's Chairman of Markets in Private Equity, unpack how credit markets are changing—and what the AI buildup means for the road ahead.Read more insights from Morgan Stanley.----- Transcript -----Vishy Tirupattur: Welcome to Thoughts on the Market. I am Vishy Tirupattur, Morgan Stanley's Chief Fixed Income Strategist. Today is a special edition of our podcast. We are joined by Dan Toscano, Chairman of Markets in Private Equity at Morgan Stanley, and a seasoned practitioner of credit markets over many, many credit cycles. We will get his thoughts on the ongoing evolution and revolution in credit marketsIt's Wednesday, January 7th at 10am in New York. Dan, welcome.Dan Toscano: Glad to be here.Vishy Tirupattur: So, to get our – the listeners familiar with your journey, can you talk a little bit about your experience in the credit markets, and how you got to where we are today?Dan Toscano: Yeah, sure. So, I've been doing this a long time. You used the nice word seasoned. My kids would refer to it as old. But I started in this journey in 1988. And to make a long story short, my first job on Wall Street was buying junk bonds in the infancy of the junk bond market, when most of what we were financing were LBOs. So, if you're familiar with Barbarians at the Gate, one of the first bonds we bought were RJR Nabisco reset notes. And I've been doing this ever since, so over almost four decades now.Vishy Tirupattur: So, the junk bond market evolved into high yield market, syndicated loan market, CLO market, financial crisis. So, talk to us about your experiences during this transition.Dan Toscano: Yeah. I mean, one of the things these markets do is they finance evolution in industries. So, when I think back to the early days of financing leveraged buyouts, they were called bootstrap deals. The first deal I did as an intermediary on Wall Street as opposed to as an investor, was a buyout with Bain Capital in 1993. At the time, Bain Capital had a $600 million AUM private equity platform. Think about that in the scale of what Bain Capital does in private equity today. You know, back then it was corporate carve outs, and trying to make the global economy more efficient. And you remember the rise of the conglomerate. And so, one of the early things we financed a lot of was the de-conglomeration of big corporates. So, they would spin off assets that were not central to the business or the strengths that they had as an organization.So, that was the early days of private equity. There was obviously the telecom build out in the late 90's and the resulting bust. And then into the GFC. And we sit here today with the distinctions of private capital, private credit, public credit, syndicated credit, and all the amazing things that are being financed in, you know, what I think of as the next industrial revolution.Vishy Tirupattur: In terms of things that have changed a lot – a lot also changed following the financial crisis. So, if you dig deep into that one thing that happened was the introduction of leveraged lending guidelines. Can you talk about what leveraged lending guidelines did to the credit markets?Dan Toscano: Yeah, I mean, it was a big change for underwriters because it dictated what you could and couldn't participate in as an underwriter or a lender, and so it really cut off one end of the market that was determined by – and I think the thing most famously attributed to the leveraged lending guidelines was this maximum leverage notion of six times leverage is the cap. Nothing beyond that. And so that really limited the ability for Wall Street firms to underwrite and distribute capital to support those deals.And inadvertently, or maybe by plan, really gave rise to the growth in the private credit market. So, when you think about everything that's going on in the world today, including, which I'm sure we'll talk about, the relaxation of the leveraged lending guidelines, it was really fuel for private credit.Vishy Tirupattur: So private credit, this relaxation that you mentioned, you know, a few weeks ago, the FDIC and the OCC withdrew the leveraged lending guidelines in total. What do you expect that will do to the private credit markets? Will that make private credit market share decrease and bank market share increase?Dan Toscano: I think many people think of these as being mutually exclusive. We've never thought of it that way. It exists more on a continuum. And so, what I think the relaxation of those guidelines or the elimination of those guidelines really frees the banks to participate in the entire continuum, either as lenders or as underwriters.And so, in addition to the opportunity that gives the banks to really find the best solutions for their clients, I think this will also continue the blurring of distinctions between public market credit and private market credit. Because now the banks can participate in all of it. And when you think about what defines in people's minds – public credit versus private credit, in many cases it's driven by what terms look like. Customary terms for a syndicated bond or loan versus a private credit loan.Also, who's participating in it. You know, these things have been blurring, right? There's a cost differential or a perceived cost differential that has been blurring for some time now. That will continue to happen, in my opinion anyway.Vishy Tirupattur: I totally agree with you, Dan, on that. I think not only the distinction between public credit and private credit, but also within the various credit channels – secured, unsecured, securitized, structured – all these distinctions are also blurring. So, in that context, let's talk a little bit more about what private credit's focus has been and where private credit focus will be going forward. So, what we'll call private credit 1.0. Focused predominantly on lending to small and medium-sized enterprises. And we now see that potentially changing. What is driving private credit 2.0 in your mind?Dan Toscano: Well, the elephant in the room is digital infrastructure. Absolutely. When you think about the scale of what is happening, the type of capital that's required for the build out, the structure you need around it, the ability to use elements of structure. You mentioned several of them earlier. To come up with an appropriate risk structure for lending is really where the market is heading. When you think about the trillions of dollars that we anticipate is needed for the technology industry to complete this transformation – not just around digital infrastructure, but around everything associated with it.And the big one I think of most often is power, right? So, you need capital to build out sources of power, and you need capital to build out the data centers to be able to handle the compute demand that is expected to be there. This is a scale unlike anything we have ever seen. It is the backbone of what will be the next industrial revolution.We've never seen anything like this in terms of the scale of the capital needed for the transformation that is already underway.Vishy Tirupattur: We are very much on board with this idea as well, Dan, in terms of the scale of the investment, the capital investment that is needed. So, when you look ahead for 2026, what worries you about the ind ustrial revolution financing that is underway?Dan Toscano: Given all that's going on in the world, this massive capital investment that's going on globally around digital infrastructure, we've never seen this before. And so, when I look at the capital raising that has been done in 2025 versus what will be done in 2026, I think one of the differences that we have to be mindful of is – nothing's gone wrong while we were raising capital in 2025 because we were very much in the infancy of these buildouts. Once you get further into these buildouts and the capital raises in 2025 that are funding the development of data centers start to season, problems will emerge. The essence of credit risk is there will be problems and it's really trying to predict and foresee where the problems will be and make sure you can manage your way through them.That is the essence of successful credit investing. And so there will definitely be issues when you think about the scale of the build out that is happening. Even if you look just in the U.S., where you need access to all sorts of commodities to build out. And you know, people focus on chips, but you also need steel and roofing, and importantly labor.And as we talk to people about the build outs, one of the concerns is supply of labor supply and cost of labor. So, when you run into situations where maybe a project is delayed a bit, or the costs are a bit more than what was expected, there will be a reaction. And we haven't had that yet. We will start to see that in 2026 and how investors and the markets react to that, I think will be very important. And I'm a little bit worried that there could be some overreaction because people have trained themselves in 2025 to think of like, ‘I'm operating in a perfect environment,' because we haven't really done anything yet. And now that we've done something, something can and will go wrong. So, you know, we'll see how that plays out.I am very fixated in 2026 on the laws of supply and demand. When I think about what's going on right now, we usually have visibility on demand. And we usually have some level of visibility on supply. Right now, we have neither – and I say that in a positive way. We don't know how big the demand is in the capital world to fund these projects. We don't know how big that can be. And almost with every passing day, the supply – and what we're hearing from our clients about what they need to execute their plans – continues to grow in a way that we don't know where it ends. And the scale, we're talking trillions of dollars, right? Not billions, not millions, but trillions.And so, I look at that – not so much as something I worry about, but something I'm really curious about. Will we run out of money to fund all of the ambitions of the Industrial Revolution? I don't think so. I think money will find great projects, but when you think about the scale of what we're looking at, we've never seen anything like it before. And it will be fascinating to watch as the year goes on.Vishy Tirupattur: Thanks Dan. That's very useful. And thanks for taking the time to speak to us and share your wisdom and insights. Dan Toscano: Well, it's great to be here.Vishy Tirupattur: And to our audience, thanks for listening. If you enjoyed the show, please leave us a review wherever you listen and share thoughts on the market with a friend or colleague today

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In an unhinged rant, Stephen Miller says America can take over any country for its resources - Which country is next for Trump? ‘Greenland belongs to its people': European leaders unite over Trump's threats to annex territory“ reports Sam Meredith. Meanwhile Miles Taylor offers a warning of unhinged Donald's fixation on illegal annexation and occupation. The Colombian president taunts Trump.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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PhD candidate in Economics at Columbia University and a graduate fellow at the Manhattan Institute, Daniel Di Martino, explains the ongoing political situation in Venezuela and why the Trump administration felt they had to step in.  As a Venezuelan native, Daniel discusses the changing power dynamics in the country and what is happening now that Maduro is no longer their leader. He also describes the potential for Venezuelan politician and activist Maria Corina Machado to become the next president.  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Stijn Schmitz welcomes Marc Faber to the show. Marc Faber is Contrarian Investor and Publisher of the Gloom, Boom, & Doom Report. Their discussion centers on global economic trends, monetary policy, and the impact of continuous money printing by central banks. Faber, a proponent of the Austrian school of economics, critically examines the current financial landscape, highlighting how central banks and financial institutions are incentivized to continuously print money, which leads to uneven price increases across various assets. Faber argues that money printing fundamentally distorts economic systems, with financial institutions benefiting first from monetary expansion while average workers experience declining real wages. He points out that while nominal GDP might show growth, real purchasing power for most people has actually decreased. The conversation explores the historical context of economic cycles, with Faber referencing economists like Kondratiev and discussing how societies rise and decline. The discussion shifts to geopolitical dynamics, particularly the changing global power balance between the United States and emerging powers like China and Russia. Faber suggests that the US is no longer in the dominant position it held post-World War II, with potential competitive challenges emerging from other global powers. Regarding investment strategies, Faber recommends diversification across assets like real estate, precious metals, stocks, and cash. He sees particular potential in gold, silver, and platinum as alternative currencies, and believes these metals can serve as protection against monetary devaluation. He’s especially bullish on platinum, suggesting it might eventually surpass gold in price. Faber’s investment philosophy emphasizes understanding price dynamics over specific company details, advocating for purchasing assets below their intrinsic value. He remains skeptical of government interventions and central bank policies, viewing them as potentially destructive to long-term economic stability. Timestamps: 00:00:00 – Introduction 00:00:51 – Precious Metals Bull Run 00:01:25 – Gold Market History 00:02:31 – Money Printing Effects 00:05:33 – Financial Industry Incentives 00:07:15 – Austrian Economics Overview 00:09:10 – Keynesian Policies Critique 00:14:40 – Economic and War Cycles 00:20:25 – Geopolitical Tensions Rise 00:22:47 – Global Financial System Risks 00:24:00 – Safe Currencies Gold Silver 00:27:12 – Approaching Economic Crises 00:33:02 – Portfolio Diversification Advice 00:35:49 – Silver Platinum Investment Benefits 00:42:05 – Newsletter and Personal Reflections 00:45:44 – Concluding Thoughts Guest Links: Website: https://www.gloomboomdoom.com/ X: https://x.com/gloomboomdoom Dr. Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a Ph.D. in Economics magna cum laude. Between 1970 and 1978, Mr. Faber worked for White Weld & Company Limited in New York, Zurich, and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, Marc was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, publishing a widely read monthly investment newsletter, “THE GLOOM BOOM & DOOM,” a report highlighting unusual investment opportunities. Dr. Faber is also the author of several books, including “TOMORROW’S GOLD – Asia’s Age of Discovery,” first published in 2002 and highlighted future investment opportunities. “TOMORROW’S GOLD” was on Amazon’s bestseller list and translated into Japanese, Korean, Thai, and German. Marc is also a regular contributor to several leading financial publications around the world. In addition, Dr. Faber is a frequent speaker at various investment seminars and is well known for his “contrarian” investment approach.

If we ever had a genuine democracy (and I would argue we never have) then it is clearly disintegrating now, along with the entire system with which it was entwined.  Everyone agrees we need something new, what we don't necessarily agree on across the board is the design of this new thing.  This week's guests are two people who spend their lives imagining how things might be different, particularly in the US, where even the pretence of democracy has been abandoned. Dr John Izzo is a friend of the podcast. Once an ordained Minister in a Presbyterian Church, he's now a bestselling author, speaker, and thought leader focused on social responsibility and intergenerational integration. He's a a Distinguished Fellow at The Stimson Center in Washington DC, and a Board Member of the Elders Action Network and the Elders Climate Action group. Most notably in terms of what we're talking about here, he's co-host of The Way Forward Regenerative Conversations Podcast on which I heard him speaking to our other guest, Suzette Brooks Masters.  Suzette describes herself as a sometime Cassandra who sees around the corner; a serial social entrepreneur, and a thought leader and strategist in the fields of democracy, governance and futures.She has degrees in Economics from Amherst College and Cambridge University, and a Law degree from Harvard. She has spent much of her working life as a strategist working on immigration, inclusion and democracy. She is currently Senior Fellow and Director of Democracy Innovation at the Democracy Funders Network and Co-Founder of the Federal Foresight Advocacy Alliance.  So listen in for a 3-way conversation on the nature of power, community and change as we move into the new year. John on LinkedIn https://www.linkedin.com/in/drjohnizzo/John's showreel: https://vimeo.com/248012255?fl=pl&fe=vlJohn's website: www.drjohnizzo.comJohn's YouTube: https://www.youtube.com/channel/UC1adiRng-Ab3d3Wos9pFjAA The Way Forward Regenerative Podcast https://podcasts.apple.com/us/podcast/the-way-forward-regenerative-conversations/id1651941803Episode with Suzette: https://podcasts.apple.com/gb/podcast/the-way-forward-regenerative-conversations/id1651941803?i=1000704364583The Way Forward on YouTube https://www.youtube.com/@RegenerativeConversationsSuzette on LinkedIn https://www.linkedin.com/in/suzette-brooks-masters-0614981bDemocracy Funders Network https://www.democracyfundersnetwork.org/Federal Foresight Advocacy Alliance  https://www.ffaa-us.org/Suzette's recent report - Becoming Futures Ready: How Philanthropy can leverage strategic foresight for democracy https://www.democracyfundersnetwork.org/resources/2024/10/3/becoming-futures-ready-how-philanthropy-can-leverage-strategic-foresight-for-democracyIf you'd like to support us, there is a Patreon page, but we're not going to link to it, because, honestly, the best way is to come and join the Accidental Gods Membership: that way you can share in the ideas, the programme that will help you connect to the Web of Life in ways that will last—and you can come to the Gatherings half price. Or if that doesn't appeal, come along to one of the Gatherings. Or buy a subscription/Gathering for a friend... do something that feels like a good exchange of energy and minimises our connection with old economic paradigm. Remember that if any of this is difficult, contact us and we'll find something that works for you. Details below: What we offer: Accidental Gods, Dreaming Awake and the Thrutopia Writing Masterclass If you'd like to join our next Open Gathering offered by our Accidental Gods Programme, it's 'Honouring Fear as your Mentor' on Sunday 8th February 2026 from 16:00 - 20:00 GMT - details are here. You don't have to be a member -but if you are, all Gatherings are half price.If you'd like to join us at Accidental Gods, this is the membership where we endeavour to help you to connect fully with the living web of life. If you'd like to train more deeply in the contemporary shamanic work at Dreaming Awake, you'll find us here. If you'd like to explore the recordings from our last Thrutopia Writing Masterclass, the details are here

Read the full transcript here. What is the core public interest case for foreign aid beyond soft power? How should we define safety and prosperity? Why do many voters believe aid is a quarter of the budget when it is a tiny fraction and how does that shape support? How did a political decision to halt awards ripple through real programs and what safeguards failed? What legal and institutional checks should prevent a single administration from impounding funds that Congress appropriated? When government pauses, how can private funders triage the most life saving pieces without letting systems collapse? If an agency is rebuilt, which programs should be protected first and which processes should be redesigned from day one? How do we embed evidence and cost effectiveness at the start of strategy rather than as an afterthought in evaluation? What would it look like to center partner governments in the process so that learning becomes part of their own delivery? How can we avoid a fixation on what is easy to measure while still demanding clear estimates and accountability? What does it mean to meet donors where they are while steering them toward the highest impact use of funds? Dean Karlan is the Frederic Esser Nemmers Distinguished Professor of Economics and Finance at Northwestern University, and the Founder and former President of Innovations for Poverty Action, a non-profit organization dedicated to discovering and promoting solutions to global poverty problems. Karlan was the Chief Economist at the United States Agency for International Development (USAID) from 2022 until resigning in 2025. Prior to 2022, he was on the Executive Committee of the Board of Directors of the M.I.T. Jameel Poverty Action Lab. In 2015, he co-founded ImpactMatters, a nonprofit dedicated to estimating and rating impact of nonprofit organizations in order to help donors choose good charities and to promote more transparency in the nonprofit sector. His research focuses on microeconomic issues of poverty, typically employing experimental methodologies and behavioral economics insights to examine what works, what does not, and why to address social problems This episode was recorded live at EA Global: NYC 2025. Many thanks to the EA Global event organizers and staff for recording this conversation. Links: EA Global Event Page Dean's Website Staff Spencer Greenberg — Host + Director Ryan Kessler — Producer + Technical Lead WeAmplify — Transcriptionists Igor Scaldini — Marketing Consultant Music Broke for Free Josh Woodward Lee Rosevere Quiet Music for Tiny Robots wowamusic zapsplat.com Affiliates Clearer Thinking GuidedTrack Mind Ease Positly UpLift [Read more]

Congresswoman Nicole Malliotakis, Representative for New York's 11th Congressional DistrictTopic: Mamdani's lack of a federal security clearance; Death of Rep. Doug LaMalfa and how this impacts the House Chris Swecker, attorney who served as assistant director of the FBI for the Criminal Investigative Division from 2004 to 2006 Topic: Maduro; Tim Walz; FBI thwarts ISIS-inspired plot at Indiana school Stephen Moore, "Joe Piscopo Show" Resident Scholar of Economics, Chairman of FreedomWorks Task Force on Economic Revival, former Trump economic adviser and the author of "The Trump Economic Miracle: And the Plan to Unleash Prosperity Again"Topic: The impact of Maduro on the economy Mike Gallagher, radio talk show host heard weekday mornings at 10 a.m. on AM 970 The AnswerTopic: Political news of the day Dr. Eric Kaplan, New York City’s first board certified Functional Neurologist practicing in New York and New Jersey, founder of Kaplan Brain & Body, and the host of "Boost Your Brain Power with Dr. Eric Kaplan,” airing Saturdays at 8 a.m. on AM 970 The AnswerTopic: New Year's resolutions and mental health Hogan Gidley, Former National Press Secretary for the Trump campaign and former White House Deputy Press SecretaryTopic: Maduro and the operation's impact on the Trump administration; The possibility of another Trump impeachment Rick de la Torre, Former CIA Station Chief for CaracasTopic: Maduro and his impact on VenezuelaSee omnystudio.com/listener for privacy information.

Ideally, college classrooms provide students with a comfortable but challenging environment in which diverse ideas and viewpoints are openly exchanged; the reality they experience, though, is often quite different. In this episode, David Laibson joins us to discuss how Harvard University is attempting to identify and address barriers to this ideal. David is the Robert I. Goldman Professor of Economics and a Faculty Dean of Lowell House. He has published dozens of heavily cited articles on a wide range of topics, including behavioral economics, self-regulation, behavior change, household finance, and aging. David is a Research Associate in the Aging, Asset Pricing, and Economic Fluctuations Working Group at the National Bureau of Economic Research, member of the National Bureau of Economic Research, and serves on numerous advisory boards. He has received Harvard's Phi Beta Kappa award and a Harvard College Professorship in recognition of his high quality teaching. David is also a co-author of popular textbooks on introductory economics and  a co-editor of the Handbook of Behavioral Economics. A transcript of this episode and show notes may be found at http://teaforteaching.com.

How can leaders develop everyday courage in the face of uncertainty? In this episode, Kevin welcomes back Ranjay Gulati to discuss how courage is not something you're born with; it's a mindset that anyone can develop through intentional effort. Ranjay introduces his Nine Cs framework for building everyday courage and shares practical stories and insights to help leaders move from fear to action. Ranjay's Story: Ranjay Gulati is the author of Deep Purpose (2022) and How to Be Bold. He is the Paul R. Lawrence MBA Class of 1942 Professor of Business Administration at Harvard Business School. His pioneering work focuses on unlocking organizational and individual potential—embracing courage, nurturing purpose-driven leaders, driving growth, and transforming businesses. He is the recipient of the 2024 CK Prahalad Award for Scholarly Impact on Practice and was ranked as one of the top ten most cited scholars in Economics and Business over a decade by ISI-Incite. The Economist, Financial Times, and the Economist Intelligence Unit have listed him as among the top handful of business school scholars whose work is most relevant to management practice. He is a Thinkers50 top management scholar, speaks regularly to executive audiences, and serves on the board of several entrepreneurial ventures. He holds a PhD from Harvard University and a Master's degree from MIT. He lives in Newton, Massachusetts with his wife and two children. https://ranjaygulati.com/ https://www.linkedin.com/in/ranjay-gulati https://ranjaygulati.com/leadership-unlocked-signup/ This Episode is brought to you by... Flexible Leadership is every leader's guide to greater success in a world of increasing complexity and chaos.  Book Recommendations How to Be Bold: The Surprising Science of Everyday Courage by Ranjay Gulati To Risk It All: Nine Conflicts and the Crucible of Decision by Admiral James Stavridis USN The Power of Habit: Why We Do What We Do in Life and Business by Charles Duhigg How to Win Friends and Influence People by Dale Carnegie Like this? Lessons from Bold Leaders That Changed History with Jan-Benedict Steenkamp One Bold Move a Day with Shanna Hocking Overcoming Fear, Uncertainty, and Doubt with Brendan Keegan Join Our Community If you want to view our live podcast episodes, hear about new releases, or chat with others who enjoy this podcast join one of our communities below. Join the Facebook Group Join the LinkedIn Group   Leave a Review If you liked this conversation, we'd be thrilled if you'd let others know by leaving a review on Apple Podcasts. Here's a quick guide for posting a review. Review on Apple: https://remarkablepodcast.com/itunes   

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 capture of the president of Venezuela, questions answered and dodged by Trump as far as plans moving forward, and more.Support Our Sponsors:BodyBrain - Go to BodyBrainCoffee.com, use code DAVE20 for 20% off your first orderMASA Chips - https://www.masachips.com/DAVE My Patriot Supply - https://www.mypatriotsupply.com/problemCrowdHealth - https://www.joincrowdhealth.com/promos/potpPart 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 Deputy Director of Global Research Michael Zezas and our U.S. Public Policy Strategist Ariana Salvatore discuss the implications of the U.S action in Venezuela for global markets, foreign and domestic policy.Read more insights from Morgan Stanley.----- Transcript -----Michael Zezas: Welcome to Thoughts on the Market. I'm Michael Zezas, Deputy Global Head of Research for Morgan Stanley. Ariana Salvatore: And I'm Ariana Salvatore, Head of Public Policy Research. Michael Zezas: Today we're talking about the latest events in Venezuela and its implications for global markets.It's Tuesday, January 6th at 10am in New York. So, Ariana, before we get into it: Long time listeners might have noticed in our intro, a changeup in our titles. Ariana, you're stepping in to lead day-to-day public policy research. Ariana Salvatore: That's right. And Mike, you're taking on more of a leadership role across the research department globally. Michael Zezas: Right, which is great news for both of us. And because the interaction between public policy choices and financial markets is as critical as ever, and because collaboration is so important to how we do investment research at Morgan Stanley – tapping into expertise and insight wherever we can find it – you're still going to hear from one of – and sometimes both of us – here on Thoughts on the Market on a weekly basis. Ariana Salvatore: And this week is a great example of this dynamic as we start the New Year with investors trying to decide what, if anything, the recent U.S. intervention in Venezuela means for the outlook for markets. Michael Zezas: Right. So, to that point, the New Year's barely begun, but it's already brought a dramatic geopolitical situation: The U.S. capture and arrest of Venezuela's President Nicolas Maduro – an event that can have far reaching implications for oil markets, energy, equities, sovereign credit, and politics. Ariana, thinking from the perspective of the investor, what's catching your attention right now? Ariana Salvatore: I think clients have been trying to get their arms around what this means for the future of U.S. foreign policy, as well as domestic policy making here too. On the first point, I would say this isn't necessarily a surprise or out of step with the goals that the Trump administration has been at least rhetorically emphasizing all year. Which is to say we think this is really just another data point in a pre-existing longer term trend toward multipolarity. Remember that involves linkage of economic and national security interest. It comes with its own set of investment themes, many of which we've written about, but one in particular would be elevated levels of defense spending globally, as we're in an increasingly insecure geopolitical world. Another tangible takeaway I would say is on the USMCA review. I think the U.S. has likely even more leverage in the upcoming negotiations, and likely is going to push even harder for Mexico to put up trade barriers or take active steps to limit Chinese investment or influence in the country. Enforcement here obviously will be critical, as we've said. And ultimately, we do still think the review results in a slightly deeper trade integration than we have right now. But it's possible that you see tariffs on non-USMCA compliant goods higher, for example, throughout these talks. Michael Zezas: And does this affect at all your expectations for domestic policy choices from the U.S.? Ariana Salvatore: I think it's important to emphasize here that we're just seeing an increasingly diminished role for Congress to play. The past year has been punctuated by one-off US foreign policy actions and a usage of executive authority over a number of different policy areas like immigration, tariffs, and so on. So, I would say the clearest takeaway on the domestic front is we're seeing a policy making pattern that is faster and more unilateral, right? If you don't need time for consensus building on some of these issues, decisions are being made by a smaller and smaller group of people. That in itself just increases policy uncertainty and risk premia, I would say across the board. But Mike, let's turn it back specifically to Venezuela. One of the most important questions is on – what this all means for global oil markets. What are our strategists saying there? Michael Zezas: Yeah. So, oil markets are the natural first place to look when it comes to the impact of these geopolitical events. And the answer more often than not is that the oil market tends not to react too much. And that seems to be the case here following the weekend's Venezuela developments. That's because we don't expect there to be much short-term supply impact. Over the medium-term risks to Venezuela's production skew higher. But while Venezuela famously holds one of the largest oil reserves in the world – it's about 17 percent of the world's oil reserves – in terms of production, its contribution is relatively small. It's less than 1 percent of global output. So, among the top 10 reserve holders, Venezuela is by far the smallest producer. So, you wouldn't expect there to be any real meaningful supply impact in the markets, at least in the near term. So, one area where there has been price movement is in the market for Venezuela sovereign bonds. They have been priced for low recovery values and the potential restructuring that was far off. But now with the U.S. more involved and the prospect of greater foreign investment into the country's oil production, investors have been bidding up the bond price in anticipation of potentially a sooner restructuring and higher recovery value for the bonds. Ariana Salvatore: Right. And to that point, our EM sovereign credit strategists anticipate limited spillover to broader LatAm sovereign credit. Any differentiation is more likely to reflect degrees of alignment with the U.S. and exposure to oil prices and potential increases in Venezuelan production, which could leave Mexico and Columbia among relative under underperformers. Michael Zezas: Right. And this seems like it's going to be an important theme all year because the U.S. actions in Venezuela seem to be a demonstration of the government's willingness to intervene in the Western Hemisphere to protect its interests more broadly. Ariana Salvatore: That's right. So, it's a topic that we could be spending much more time talking about this year. Michael Zezas: Great. Well, Ariana, thanks for taking the time to talk. Ariana Salvatore: Great speaking with you, Mike. Michael Zezas: And as a reminder, if you enjoy Thoughts on the Market, please take a moment to rate and review us wherever you listen; and share Thoughts on the Market with a friend or colleague today.

On the anniversary of MAGA's bloody attack on Capitol Hill, is the Republican majority draining away in Congress as the reality of Trump's autocratic plans start to sink in?See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Is Mad King Trump Losing His Sanity?See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Kenya is facing rising public discontent over allegations of political corruption, economic stagnation and a shortage of good quality jobs, particularly for the country's Gen Z. One of the government's flagship responses is an ambitious push into digital outsourcing. It argues that call centres, coding work and other IT-enabled services can position the country as a global hub and generate a million new jobs within five years.The model has worked before in countries such as India and the Philippines, but the global landscape is shifting. Advances in artificial intelligence are already transforming the very roles Kenya hopes to attract, raising questions about whether this strategy can deliver long-term employment at scale.Tanya Beckett asks whether Kenya's vision for digital outsourcing can provide stability and opportunity for the country.This week on The Inquiry, we're asking: Can Kenya answer the call for employment?Contributors Joy Kiiru, senior lecturer at the Department of Economics and Development Studies at the University of Nairobi, KenyaMarcus Larsen, professor at the Copenhagen Business School, Copenhagen, DenmarkDeepa Mani, faculty member and deputy Dean for academic programmes at the Indian School of Business, Hyderabad, India Boaz Munga, research consultant at the Kenya Institute for Public Policy Research and Analysis, Nairobi, Kenya Presenter: Tanya Beckett Producer: Matt Toulson Researcher: Evie Yabsley Editor: Tom Bigwood Technical Producer: Craig Boardman Production Management Assistant: Liam Morrey(Photo: President of Kenya William Ruto. Credit: Luis Tato/Getty Images)

What is the UK government planning for young people? With Emma Warren. Help support our independent journalism at theguardian.com/infocus

So many women grow up hearing that we should be able to have it all, yet very few of us are ever shown what that actually looks like in real life.In this episode, Emily welcomes Corinne Lowe, an associate professor of Business Economics and Public Policy. Corinne shares insights from her book, Having It All: What Data Tells Us About Women's Lives and Getting the Most Out of Yours, which examines gender wage gaps, structural discrimination, and the pressures women face when balancing career, family, and personal life.This conversation focuses on redefining success in a way that truly fits your values, being more intentional with your time, and finding fulfillment on your own terms. You'll also come away with practical strategies for workplace negotiations, rethinking productivity, and creating a more sustainable balance between work and life.Listen and Learn: How structural barriers limit women's career and wage growth, and encourage redefining success by focusing on personal fulfillment and leveling up within those realitiesHow women face systemic workplace barriers that collectively limit their opportunities and earnings, and why addressing these issues benefits everyoneDebunking myths about women's performance, showing that traits like negotiation skill and competitiveness are not inferior, and that focusing on evidence-based skill-building is what truly drives successUnderstanding and prioritizing your own “utility function” to help women focus on what matters to them, rather than constantly comparing themselves to othersHow to rethink your career as a tool for turning time into meaningful fulfillment, balance life's chapters intentionally, and confidently understand your market value to make work serve youReclaiming your time, setting boundaries, and making intentional choices to focus on what truly brings joy and meaning to your family and life, instead of being trapped by guilt, obligation, or unrealistic expectationsReframing parenting and self-care as “human capital” investment, showing how the time and care you give to your children and to yourself is meaningful, economically valuable, and essential for long-term wellbeingResources: Having It All: What Data Tells Us About Women's Lives and Getting the Most Out of Yours: https://bookshop.org/a/30734/9781250369512Corrine's Website: https://www.corinnelow.com Connect with Corrine on Social Media: https://www.instagram.com/corinnelowphd/https://www.linkedin.com/in/corinne-lowhttps://www.facebook.com/people/Corinne-Low Read More About Corrine's Work on Substack: https://corinnelow.substack.com/ About Corinne LowCorinne Low is an Associate Professor of Business Economics and Public Policy at the Wharton School of the University of Pennsylvania where she teaches an award-winning class (and was named one of Poets and Quants 40 MBA Professors under 40 in 2024). Her research on the economics of gender has been published in top journals such as the American Economic Review, Quarterly Journal of Economics, and Journal of Political Economy. Corinne and her work have been featured in major media outlets, such as The New York Times, CBS Mornings, Forbes, New York Magazine, and The Guardian. Corinne regularly speaks to and advises firms in addition to teaching in Wharton's Executive Education programs. She is the author of Having It All: What Data Tells Us About Women's Lives and Getting the Most Out of Yours. She received her Ph.D. in Economics from Columbia University, her B.S. in Economics and Public Policy from Duke University and formerly worked for McKinsey and Company.Related Episodes:398. Finding Joy in Your Relationship with Money with Elizabeth Husserl357. Is Your Work Worth It? How to Think About Meaningful Work with Jennifer Tosti-Kharas and Christopher Wong Michaelson275. Work, Parent, Thrive with Yael Schonbrun245. Family Firm with Emily Oster206. Fair Play Part 2 with Eve Rodsky176. Fair Play with Eve Rodsky174. How to Work and Parent Mindfully with Lori Mihalich-LevinSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Episode Notes In this episode of the Solar Maverick Podcast, host Benoy Thanjan sits down with Jarand Rystad, Founder and CEO of Rystad Energy, one of the world's leading energy intelligence and data advisory firms. Jarand explains why solar has dramatically outperformed historical forecasts, how rapid cost declines have reshaped global power markets, and why many regions are now facing a new challenge: too much solar at the wrong times. As grids become saturated with midday generation, energy storage has emerged as the critical missing link. The conversation explores why the next five years will belong to energy storage, how batteries enable higher renewable penetration, and what this shift means for pricing, grid stability, and project economics. Jarand also shares insights on powering the AI and data center boom, the evolving role of gas and nuclear, long-duration storage innovations, and why electrification is fundamentally transforming the global energy system. This episode is a must-listen for anyone looking to understand where the energy transition is headed, how markets are behaving beneath the headlines, and where the biggest opportunities will emerge over the next decade.   Biographies 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.   Jarand Rystad  Jarand Rystad founded Rystad Energy in 2004 and has, since its inception, managed the company. Jarand has extensive experience in the energy strategy advisory business and his areas of expertise include energy system analysis, energy scenarios, renewables, supply chains, emissions, asset and company valuations and transactions, macro analysis, and all aspects of the energy transition. As an established thought leader in these and other fields, Jarand is a frequent keynote speaker at international conferences related to energy.  He is, according to the Financial Times, “one of the most cited petroleum analysts in the industry”. Prior to founding Rystad Energy, Jarand worked for McKinsey & Company. He holds an M.Sc. degree in Physics from the Norwegian University of Science and Technology, where he majored with a thesis in asteroseismology. Jarand also has an academic background in philosophy and has been the leader and founder of various organizations. Stay Connected: Benoy Thanjan Email: info@reneuenergy.com  LinkedIn: Benoy Thanjan Website: https://www.reneuenergy.com Website: https://www.solarmaverickpodcast.com/       Jarand Rystad      Linkedin: https://www.linkedin.com/in/jarand-rystad/     Email:  jarand@rystadenergy.com     Website:  https://www.rystadenergy.com/     Rystad Energy's Podcast:  https://www.rystadenergy.com/podcasts?s=         Please provide 5 star reviews      If you enjoyed this episode, please rate, review and share the Solar Maverick Podcast so more people can learn how to accelerate the clean energy transition.    Reneu Energy Reneu Energy provides expert consulting across solar and storage project development, financing, energy strategy, and environmental commodities. Our team helps clients originate, structure, and execute opportunities in community solar, C&I, utility-scale, and renewable energy credit markets. Email us at info@reneuenergy.com to learn more.

The Earth Transformed. An Untold History (Knopf, 2023) is a captivating and informative book that reveals how climate change has been a driving force behind the development and decline of civilizations across the centuries. The author, Peter Frankopan, takes readers on a journey through history, showcasing how natural phenomena such as volcanic eruptions, El Niño, and solar flare activity have shaped the course of human events. Frankopan's extensive research, coupled with his accessible writing style, makes for an engaging read that reframes our understanding of the world and our place in it. One of the strengths of The Earth Transformed is the way in which Frankopan connects seemingly disparate events to highlight the far-reaching impact of climate change. For example, he explains how the Vikings emerged as a result of catastrophic crop failure, and how the collapse of cotton prices due to unusual climate patterns led to regime change in eleventh-century Baghdad. Through such connections, Frankopan demonstrates how past empires that failed to act sustainably were met with catastrophe, providing valuable lessons for our current environmental crisis. Overall, The Earth Transformed is a timely and important book that sheds light on the enduring relationship between humans and the natural world. It challenges readers to reckon with our species' impact on the environment and to consider how we can act sustainably to prevent further harm. Frankopan's interdisciplinary approach, combining historical research with scientific insights, makes for a compelling and thought-provoking read that will leave readers with a new perspective on the world around us. Javier Mejia is an economist at Stanford University who specializes in the intersection of social networks and economic history. His research interests also include entrepreneurship and political economy, with a particular focus on Latin America and the Middle East. He holds a Ph.D. in Economics from Los Andes University. Mejia has previously been a Postdoctoral Associate and Lecturer at New York University-Abu Dhabi and a Visiting Scholar at the University of Bordeaux. He is also a frequent contributor to various news outlets, currently serving as an op-ed columnist for Forbes Magazine. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

Subscribe now to skip ads, get bonus content, and enjoy 24/7 access to the entire catalog of 500+ episodes. Is Holocaust memory over? Genocide scholars Dirk Moses and Omar McDoom discuss whether elite political and media classes are cheapening the lessons of history by invoking the Holocaust to justify Israel's destruction of Gaza. The emotional issue has led to strife on college campuses, media shouting matches, and craven political cowardice as Palestinian society was pummelled. Dirk Moses teaches history at City College of New York. Omar McDoom is a political scientist at the London School of Economics and Political Science. Recommended reading: Is Holocaust Memory Over? by Dirk Moses (The Diasporist) It's Hamas' Fault, You're an Antisemite, and We Had No Choice: Techniques of Genocide Denial in Gaza by Omar McDoom (Journal of Genocide Research) The Growing Rift Among Holocaust Scholars Over Israel/Palestine by Shira Klein (Journal of Genocide Research) Introduction: Gaza and the Problems of Genocide Studies by Dirk Moses (Journal of Genocide Research)

Subscribe to the podcastWe dump our thoughts on the US ousting of Maduro on Venezuela.Learn 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

In this episode of The Daily Mastermind, host George Wright III welcomes esteemed guest Stephen M.R. Covey, a global authority on leadership, trust, and organizational performance. Covey discusses his legacy of timeless principles in leadership and trust, stemming from the influential teachings of his father, Dr. Stephen R. Covey. The conversation delves into the importance of trust as both a social virtue and economic driver, emphasizing the concept of 'Smart Trust' as a strategic and calculated way to build trust in teams and organizations. Covey outlines his 'Five Waves of Trust' model, which starts with self-trust and ripples out to team, organization, marketplace, and societal trust. He shares practical daily actions such as identifying high-leverage behaviors, declaring intentions, and being more trusting to help individuals build self-trust and improve their leadership. The episode is packed with actionable insights aimed at helping listeners lead their lives more effectively by prioritizing trust and integrity.00:49 Stephen Covey's Background and Legacy02:07 Foundational Principles of Leadership07:08 Building Trust in Organizations10:56 The Economics of Trust18:46 The Ripple Effect of Trust25:49 Building Self-Trust26:48 The Power of Small Commitments30:45 Common Behaviors That Break Trust36:22 Extending Smart Trust41:01 Daily Actions to Build TrustYou have GREATNESS inside you. I BELIEVE in You. Let's Make Today the Day You Unleash Your Potential!George Wright IIICEO, The Daily Mastermind | Evolution X_________________________________________________________P.S. Whenever you're ready, here are ways I can help you…Get to know me:1. Subscribe to The Daily Mastermind Podcast- daily inspiration, motivation, education2. Follow me on social media Facebook | Instagram | Linkedin | TikTok | Youtube3. Grow Your Authority and Personal Brand with a FREE Interview in a Top Global Magazine HERE.

Happy New Year from Washington State, where Democrats just enacted a 10.3% sales tax on gold and silver—because why wouldn't you destroy an entire industry in one move? Businesses are literally packing up and moving to Idaho and Oregon, where this insanity doesn't exist. The state projects $34-148 million in revenue, but here's the problem: nobody's going to buy precious metals in Washington when they can drive 5 minutes across the border and save hundreds of dollars. Coin dealers operating on razor-thin margins are facing closure or relocation, and the tax revenue Democrats are banking on? It won't materialize because the transactions will simply disappear. It's Economics 101, but Sacramento 2.0 doesn't care—they'd rather virtue signal about taxing "investments" while small businesses collapse. One dealer said it perfectly: requiring an 11-12% gain just to break even makes this a terrible investment from day one. Do you think Washington will reverse course when the revenue projections fall flat, or will they just find something else to tax? Is anyone surprised that reasonable people keep fleeing to Texas, Idaho, and Florida? Subscribe for more coverage of policies that defy common sense, and drop a comment with your predictions for Washington's next brilliant taxation scheme!

The Earth Transformed. An Untold History (Knopf, 2023) is a captivating and informative book that reveals how climate change has been a driving force behind the development and decline of civilizations across the centuries. The author, Peter Frankopan, takes readers on a journey through history, showcasing how natural phenomena such as volcanic eruptions, El Niño, and solar flare activity have shaped the course of human events. Frankopan's extensive research, coupled with his accessible writing style, makes for an engaging read that reframes our understanding of the world and our place in it. One of the strengths of The Earth Transformed is the way in which Frankopan connects seemingly disparate events to highlight the far-reaching impact of climate change. For example, he explains how the Vikings emerged as a result of catastrophic crop failure, and how the collapse of cotton prices due to unusual climate patterns led to regime change in eleventh-century Baghdad. Through such connections, Frankopan demonstrates how past empires that failed to act sustainably were met with catastrophe, providing valuable lessons for our current environmental crisis. Overall, The Earth Transformed is a timely and important book that sheds light on the enduring relationship between humans and the natural world. It challenges readers to reckon with our species' impact on the environment and to consider how we can act sustainably to prevent further harm. Frankopan's interdisciplinary approach, combining historical research with scientific insights, makes for a compelling and thought-provoking read that will leave readers with a new perspective on the world around us. Javier Mejia is an economist at Stanford University who specializes in the intersection of social networks and economic history. His research interests also include entrepreneurship and political economy, with a particular focus on Latin America and the Middle East. He holds a Ph.D. in Economics from Los Andes University. Mejia has previously been a Postdoctoral Associate and Lecturer at New York University-Abu Dhabi and a Visiting Scholar at the University of Bordeaux. He is also a frequent contributor to various news outlets, currently serving as an op-ed columnist for Forbes Magazine. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/environmental-studies

European stocks line up another day in the green - the benchmark Stoxx 600 hitting a new high in Monday's session, and the Dow Jones notching a fresh record stateside. This, in the shadow of rising geopolitical tensions as President Trump says he is "very serious" about taking Greenland - despite a warning from Denmark's Prime Minister that any act of aggression would spell the end of NATO. And deposed Venezuelan President Nicolas Maduro pleads not guilty to drug trafficking charges in his first court appearance since being captured in a U.S. operation in Caracas. Maduro said he had been "kidnapped" and was a "prisoner of war". See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

If technology is ruining the art of conversation, maybe it can save it, too. Anna Gat--poet, screenwriter, playwright, and founder of Interintellect--talks with EconTalk's Russ Roberts on how she's reviving the French salon in the digital age. They discuss why authority, moderation, and clear formats make conversation freer, not more constrained. They also explore why one of the greatest of modern plays--Tom Stoppard's Arcadia--is so resonant not only as a live theatrical performance, but also when read aloud, both alone and in a group. They conclude the episode by connecting Arcadia's themes to Gat's mission at Interintellect: Namely, preserving the value of thinking together across generations, disciplines, and worldviews.

Our CIO and Chief U.S. Equity Strategist Mike Wilson discusses key catalysts that investors may be missing, but that are likely to boost U.S. equities in 2026.Read more insights from Morgan Stanley.----- Transcript -----Welcome to Thoughts on the Market. I'm Mike Wilson, Morgan Stanley's CIO and Chief U.S. Equity Strategist. Today on the podcast I'll be discussing the converging market forces bolstering our bullish outlook for 2026. It's Monday, January 5th at 11:30am in New York. So, let's get after it. The New Year is usually a time to look forward. But today, I want to take a step back and talk about what the market is missing. A series of bullish catalysts are lining up at the same time, and the market is still underestimating their collective impact. There's been a lot of focus on individual positives—solid earnings growth, further Fed easing—but in our view, the real story is how these forces are reinforcing one another. Deregulation, positive operating leverage, accommodative monetary policy, and increasingly supportive fiscal policy are all working in the same direction. And as we head into mid-term elections later this year, these policy levers are likely to stay supportive.Importantly, this isn't a market that's already priced for the outcomes I envision. Positioning in cyclical trades remains relatively light, and sentiment in economically sensitive areas is far from exuberant. That combination—of improving fundamentals with cautious positioning—is exactly what tends to characterize the early stages of a recovery. I continue to believe these tailwinds are most underappreciated in cyclical areas like Consumer Discretionary Goods, Financials, Industrials, and small- and mid-cap stocks. Many of the indicators we track are only just beginning to turn higher. This doesn't look late-cycle to me—it looks early in what I have deemed to be a rolling recovery. One reason investors have been hesitant is the sluggishness of traditional business-cycle indicators, particularly the ISM Manufacturing Purchasing Managers Index. There's been a reluctance to press cyclical trades until those gauges clearly re-accelerate; and beneath that hesitation is a lingering anxiety that the U.S. economy could even slip back into a growth scare. My view is different. I believe a three year rolling recession ended with Liberation Day. If that's true, then the moderate softness we're now witnessing in lagging labor data is constructive for equities because it keeps the Fed leaning dovish for longer and more aggressive—a positive for equities. I see the second half of 2025 as the bottoming process for key macro indicators; with 2026 shaping up as a year of re-acceleration. Longer-cycle analysis supports this. Specifically, the 45-month cycle of the ISM Manufacturing Purchasing Managers Index points to a rebound. That recovery has been delayed—but not cancelled. Another tailwind that doesn't get nearly enough attention is energy prices. Gasoline prices in particular are sitting near five-year lows, which is providing real economic relief for lower- and middle-income consumers. That cushion matters, especially as other parts of the economy firm. This past weekend's events in Venezuela argue for lower oil prices for longer. From a sector standpoint, Financials stand out as the key beneficiary of deregulation and these stocks have been great performers over the past year in anticipation of these changes. I think there is more to go in 2026. Housing could be another important piece of the recovery. Subdued wage growth and falling rents may pressure home prices, while some builders are prioritizing volume over margins. While that may cap profitability for the builders, it could unlock housing velocity and feed into a more dovish inflation backdrop. Of course, there are also risks. Liquidity has been our top concern since September, and markets have reflected that through weakness in speculative assets. The good news is that the Fed has responded by ending quantitative tightening early and restarting asset purchases through the Reserve Management Program. This effectively adds liquidity to a system that was showing signs of stress this past several months. Another risk is a renewed slowdown in AI CapEx, particularly as markets demand clearer payback from debt-funded spending. And geopolitically, the U.S. intervention in Venezuela raises new questions. Strategically, it reinforces U.S. influence in the Western Hemisphere and supports our ‘Run It Hot' thesis—but the key wildcard remains whether China chooses to react. Net-net, we think the balance of risks and rewards still favor leaning into this early-cycle recovery and our bullish outlook for US equities in 2026. Thanks for tuning in; I hope you found it informative and useful. Let us know what you think by leaving us a review. And if you find Thoughts on the Market worthwhile, tell a friend or colleague to try it out!

How do all the pieces fit together?- Xi and Putin's spheres of influence, the "Donroe" doctrine, Trump's lies- and promises to big oil.. Marco Rubio and his patron Paul Singer.. and his pending purchase of Citgo?.. Greg Palast and Malcolm Nance join Thom for a deep dive.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Trump Didn't Merely Borrow Strongman Tactics: He Imported an Entire Doctrine Built to Kill Democracies...See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Roundup of the Week's Top Stories in Economics and FreedomSilver Prices Jump 11%How Mass Migration Worsens Labor Shortages2025 in ReviewWhat's Coming in 2026$1.5 Trillion in Welfare FraudRead the article "$1.5 Trillion in Welfare Fraud" 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 WalletProfstonge WeeklyWeekly articles on economics and freedom and a monthly investment Watch ListDisclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.Support the show

2025 was a strong year for the national economy and Arizona's economy alike. Can we expect the same market strength in 2026? It's Money Monday and Associate Professor of Economics at the University of Arizona's Evan Taylor joins the show to discuss all things money. 

President Trump threatens further strikes on Venezuela should the acting leadership refuse to cooperate following the capture and removal of President Nicolas Maduro. Oil opens lower on the first trading day since the U.S. incursion after President Trump says American companies will spend billions of dollars to revive Venezuelan production. Trump also issued warnings to the leaders of Cuba and Colombia and said the U.S. needed control of Greenland for issues of national security. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Measles is coming back to the USA in part because the G.O.P. has declared war on evidence and logic. Plus- Thom reads from "Lifelines: A Doctor's Journey in the Fight for Public Health" by Dr. Leana Wen.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Dr Boyce breaks down the real economic reasons that Donald Trump invaded Venezuela.

Will Donald's supporters keep believing his deluded lies about health insurance, or will the reality of denied coverage and insane premiums bring millions of people back to reality? Plus- Thom reads from "Rendezvous with Oblivion: Reports from a Sinking Society" by Thomas Frank.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Guy Kawasaki learned sales the hard way in the jewelry business, where every deal felt like hand-to-hand combat. With no technical background, he later joined Apple and turned those street-level selling skills into world-class software evangelism. He went on to become Chief Evangelist at Canva, shaping how the world thinks about selling ideas. In this episode, Guy breaks down why selling is the most critical skill for entrepreneurs, the sales strategies that helped him win pitches, and how to identify products or ideas that sell. In this episode, Hala and Guy will discuss: (00:00) Introduction (01:29) From Sales Rookie to Apple Evangelist (07:35) How to Get Your Big Break (11:49) Leadership Lessons From Apple and Beyond (17:51) The Art of Knowing When to Quit (24:53) How Big Career Risks Shape Success (33:22) Mastering the Sales and Pitch Strategy (42:07) Evangelism Strategy: Pitch Everyone, Always (47:43) Building Likability, Trust, and Competence Guy Kawasaki is a bestselling author, keynote speaker, and the Chief Evangelist of Canva. He previously served as the Chief Evangelist at Apple, where he popularized the concept of secular evangelism and helped make the Macintosh a household name. Guy is also the creator and host of the Remarkable People podcast, featuring world-class entrepreneurs and innovators. Sponsored By: Indeed - Get a $75 sponsored job credit to boost your job's visibility at Indeed.com/PROFITING  Shopify - Start your $1/month trial at Shopify.com/profiting.  Spectrum Business - Visit Spectrum.com/FreeForLife to learn how you can get Business Internet Free Forever. Northwest Registered Agent - Build your brand and get your complete business identity in just 10 clicks and 10 minutes at northwestregisteredagent.com/paidyap Framer - Publish beautiful and production-ready websites. Go to Framer.com/profiting and get 30% off their Framer Pro annual plan. Intuit QuickBooks - Start the new year strong and take control of your cash flow at QuickBooks.com/money  Quo - Run your business communications the smart way. Try Quo for free, plus get 20% off your first 6 months when you go to quo.com/profiting   Working Genius - Take the Working Genius assessment and discover your natural gifts and thrive at work. Go to workinggenius.com and get 20% off with code PROFITING Resources Mentioned: Guy's Website: remarkablepeople.com    Guy's Book, Wise Guy: bit.ly/-WiseGuy  Guy's Book, Enchantment: bit.ly/-Enchantment  Guy's Podcast, Remarkable People: bit.ly/RP-apple  Active Deals - youngandprofiting.com/deals  Key YAP Links Reviews - ratethispodcast.com/yap YouTube - youtube.com/c/YoungandProfiting Newsletter - youngandprofiting.co/newsletter  LinkedIn - linkedin.com/in/htaha/ Instagram - instagram.com/yapwithhala/ Social + Podcast Services: yapmedia.com Transcripts - youngandprofiting.com/episodes-new  Entrepreneurship, Entrepreneurship Podcast, Business, Business Podcast, Self Improvement, Self-Improvement, Personal Development, Starting a Business, Strategy, Investing, Sales, Selling, Psychology, Productivity, Entrepreneurs, AI, Artificial Intelligence, Technology, Marketing, Negotiation, Money, Finance, Side Hustle, Startup, Mental Health, Career, Leadership, Mindset, Health, Growth Mindset, Online Selling, Economics, E-commerce, Ecommerce, Prospecting, Persuasion, Inbound, Value Selling, Account Management, Scale, Scaling, Sales Podcast

Our U.S. Economist Heather Berger discusses how larger tax refunds in 2026 could boost income and help support consumer balance sheets throughout the year.Read more insights from Morgan Stanley. ----- Transcript -----Welcome to Thoughts on the Market and Happy New Year! I'm Heather Berger, from Morgan Stanley's US Economics Team. On today's episode – why U.S. consumers can expect higher tax refunds, and what that means for the overall economy. It's Friday, January 2nd, at 10am in New York.As we kick off 2026, it's not just a fresh start. It's also the time when tax refund season is right around the corner. For many of us, those refunds aren't just numbers on a page; they shape the way we budget for many everyday expenses. The timing and size of our refunds this year could make a real difference in how much we're able to save, spend, or get ahead on bills.In the wake of the One Big Beautiful Bill Act, this year's tax refund season is shaping up to be bigger than usual. The new fiscal bill packed in a variety of tax cuts for consumers. It also included spending cuts to programs such as SNAP benefits and Medicaid, but most of those cuts don't pick up until later this decade. Altogether, this means that we'll likely see personal incomes and spending power get a boost in 2026.Many of the new deductions and tax credits for consumers in the bill were made retroactive to the 2025 fiscal year. These include deductions for tips and overtime, a higher child tax credit, an increased senior deduction, and a higher cap on state and local tax deductions, among others. The retroactive portion of these measures should be reflected in tax refunds early this year. Overall, we're expecting these changes to increase refunds by 15 to 20 percent on average. And different groups will benefit from different parts of the bill. For example, the higher state and local tax cap is likely to help high-income consumers the most, while deductions for tips and overtime will be most valuable to middle-income earners.Historically, U.S. consumers receive about 30 to 45 percent of tax refunds by the end of February, with then 60 to 70 percent arriving by the end of March. Because of the new tax provisions, we're anticipating a noticeable boost in personal income during the first quarter of the year. While we do also expect this legislation to encourage higher spending, it's unlikely that we'll see spending rise as sharply as income right away. According to surveys, most consumers say they use their refunds mainly for saving or paying down debt. This can lead to healthier balance sheets, which is shown by higher prepayment rates and fewer loan delinquencies during the tax refund season.When people choose to spend all or some of their tax refunds, they typically put that money toward everyday needs, travel, new clothes, or home improvements. Looking ahead, we do still see some near-term headwinds to spending, such as expected increases in inflation from tariffs and the expiration of the Affordable Care Act credits, which will most affect low-income consumers. As we progress throughout the year, though, we're anticipating steady growth in real consumer spending as the labor market stabilizes, inflation decelerates, and lagged effects of easier monetary policy flow through. On top of that, this year's larger tax refunds should give another lift to household spending.The boost to spending, along with other corporate provisions in the bill, should give the broader economy a push this year too. We expect the bill as a whole to support GDP growth in 2026.  But it then becomes a drag on growth in later years when more of the spending cuts take effect.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.

During this holiday season, hear some recent favorites:Stephen Dubner, host of Freakonomics Radio and the co-author of Freakonomics (Harper Collins, 2025), now in a new 20th anniversary edition, reflects on 20 years of "Freakonomics," its impact and use of data, and talks about what's next.Marion Nestle, professor of nutrition, food studies, and public health emerita at NYU and the author of many books, including her latest, What to Eat Now: The Indispensable Guide to Good Food, How to Find It, and Why It Matters (North Point Press, 2025), talks about her newly revised classic and how to navigate the food landscape today.Edward Larson, chaired professor of history and law at Pepperdine University and the author of Declaring Independence: Why 1776 Matters (W. W. Norton & Company, 2025), talks about the change in thinking 250 years ago in the American colonies from British subjects protesting the crown to revolution.David Remnick, editor of The New Yorker and the host of The New Yorker Radio Hour, and Marshall Curry, documentary filmmaker (including Street Fight, If a Tree Falls, A Night at the Garden), talk about "The New Yorker at 100" on Netflix. These interviews were lightly edited for time and clarity; the original web versions are available here:20 Years of Freakonomics (Nov 26, 2025)Eating Well Today (Dec 9, 2025)1776's No Kings (Nov 24, 2025)The New Yorker: A Movie (part 2, Dec 4, 2025)

Social Security and Medicare aren't abstract programs — they keep millions of Americans alive. Critics warn Trump-backed policies could force seniors and disabled Americans to delay or skip lifesaving care. We break down what's changing, who's at risk, and why this could become a public health emergency. Executive Director of Social Security Works, Alex Lawson joins Thom to break it down. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A quiet USPS postmark change could turn “on time” ballots into “too late” ballots by the millions…See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.