Podcasts about Economics

Trump goes after Canada again just after his billionaire commerce secretary meets with the billionaire owner of a privately owned competing bridge between Canada and Mexico. Can you spell corruption? Why Wisdom Is Almost Always Mistaken for a Threat When It First Appears. Plus journalist John Parker reports from Minnesota. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Airline pilots love to debate (and sometimes complain about) unions, but do pilot unions actually make pilots “richer”? In this episode of A Wiser Retirement® Podcast, we break down what unions really change, what they don't, and why the answer depends on how you define “richer.”Related Podcast Episodes: Ep 259. What Pilots (& Others) Should Consider 5 Years Before Mandatory RetirementEp 273. How Early Retirement Affects Pilot BenefitsEp 322. How Airline Pilots Can Make the Most of Their Profit-Sharing BonusRelated Financial Education Videos:When Should Pilots File for Social Security?What Would a Change in FAA Retirement Age Mean for Pilots?Learn More:- About Wiser Wealth Management- Schedule a Complimentary Consultation: Discover how we can help you achieve financial freedom.- Access Our Free Guides: Gain valuable insights on building a financial legacy, the importance of a financial advisor for business owners, post-divorce financial planning, and more! Stay Connected: - Social Media: Facebook | Instagram | LinkedIn | Twitter- A Wiser Retirement® YouTube Channel This podcast was produced by Wiser Wealth Management. Thanks for listening!

La clôture du France Digital Day a offert une scène singulière avec un échange entre Gabriel Zucman, professeur à l'École normale supérieure et directeur de l'Observatoire européen de la fiscalité, et Philippe Aghion, professeur au Collège de France, à l'INSEAD et à la London School of Economics. Devant plusieurs centaines d'entrepreneurs et d'investisseurs, les deux économistes ont débattu du sujet de la taxation des grandes fortunes et de ses effets potentiels sur l'innovation.Become a supporter of this podcast: https://www.spreaker.com/podcast/fw-in-the-loop--3299227/support.

The news is built to show us what's breaking — not what's improving. In this episode, we step back from markets and crises to look at areas where real progress is happening. This isn't an argument that the world is perfect. It's a reminder that change is often slow, uneven, and easy to miss while it's happening. Sometimes the most important trends don't make headlines.

ICE doesn't need their masks; they are safer than school children. Guess who is not safe, though? Grandmothers! For the TH Book Club Thom read's from Last Hours of Ancient Sunlight and Harriet Tubman.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Hey Smarties! There won't be a livestream for “Economics on Tap” today. But don't worry! “Economics on Tap” will return soon on Feb. 20. For now, we're sharing a new episode from our friends over at “This Is Uncomfortable.” Enjoy!Author and journalist Aymann Ismail wants his kids to grow up with a real connection to their Egyptian roots, including speaking Arabic. For his family, that means committing to a private Islamic school — and figuring out how to afford tuition.“This Is Uncomfortable” host Reema Khrais sits down with Aymann as he walks through his family budget and the financial trade-offs that decision requires. They talk about what's at stake for him, financially and culturally, and why holding onto Arabic feels especially urgent right now.If you liked this episode, share it with a friend. And if you want to tell us what you thought about the episode or about a tricky financial decision you've made, email us at uncomfortable@marketplace.org or call 347-RING-TIU. And follow our new social accounts on Instagram and Tiktok @ThisIsUncomfortablePod

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 continuing proceedings over the Epstein files including Pam Bondi being questioned, her stand off with Thomas Massie, and more.Buy Lauren Smith's Book Here: https://www.amazon.com/dp/B0GKH2L18T/ref=cm_sw_r_ffobk_cso_cp_apin_dp_T6ZVP6RDN350MC15HKNRSupport Our Sponsors:Joi +Blokes - Go Blokes to joiandblokes.com and use code DAVE for 50% off your labs and 20% off all supplementsBodyBrain - Go to BodyBrainCoffee.com, use code DAVE20 for 20% off your first orderCovePure - Head to http://www.covepure.com/problem and for a limited time, get $200 off your CovePure water purifier.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.

Arunima Sinha, from the U.S. and Global Economics team, discusses how an upcoming Supreme Court decision could reshape consumer prices, retail margins and the inflation outlook in 2026.Read more insights from Morgan Stanley.----- Transcript -----Arunima Sinha: Welcome to Thoughts on the Market. I'm Arunima Sinha from Morgan Stanley's U.S. and Global Economics Teams.Today: How a single Supreme Court ruling could change the tariff math for U.S. consumers.It's Friday, February 13th at 10am in New York.The U.S. Supreme Court is deciding whether the U.S. president has legal authority to impose sweeping tariffs under IEEPA. That decision could come as soon as next Friday. IEEPA, or the International Emergency Economic Powers Act, is the legal backbone for a significant share of today's consumer goods tariffs. If the Supreme Court limits how it can be used, tariffs on many everyday items could fall quickly – affecting prices on the shelf, margins for retailers, and the broader inflation outlook.As of now, effective tariff rates on consumer goods are running about 15 percent, and that's based on late 2025 November data. And that's quite a bit higher than the roughly 10 percent average, which we're seeing as tariffs on all goods. In a post IEEPA scenario, we think that the effective tariff rate on consumer goods could fall to the mid-11 percent range.It's not zero, but it is meaningfully lower.An important caveat is that this is not going to be eliminating all tariffs. Other trade tools – like Section 232s, which are the national security tariffs, Section 301s, the tariffs that are related to unfair trade practices – would remain in place. Autos and metals, for example, are largely outside the IEEPA discussion.The main pressure point we think is consumer goods. IEEPA has been used for two major sets of tariffs. The fentanyl-related tariffs on Mexico, Canada, and China, and the so-called reciprocal tariffs applied broadly across trading partners. And these often stack on top of the existing tariffs, such as the MFN, the Most Favored Nation rates, and the section 301 duties on China that were already existing before 2025.The exposure is really concentrated in certain categories of consumer goods. So, for example, in apparel and footwear, about 60 percent of the applied tariffs are IEEPA related. For furniture and home improvement, it's over 70 percent. For toys, games, and sporting equipment, it's more than 90 percent. So, if the IEEPA authority is curtailed, the category level effects would be meaningful.There are caveats, of course. The court's decision may not be all or nothing. And policymakers could turn to alternative authorities. One example is Section 122, which allows across the board tariffs for up to 15 percent for 150 days. So, tariffs could just reappear under different tools. But in the near term, fully replacing IEEPA-based tariffs on consumer goods may not be straightforward, especially given ongoing affordability concerns.So, how does that matter for the real economy? There are two key channels, prices and margins. On prices we estimate that about 60 percent of the tariff costs are typically passed on to the consumers over two to three quarters, but it's not instant. Margins though could respond faster. If companies get cost relief before they adjust prices downwards, that creates a temporary margin tailwind. That could influence hiring, investment and earnings across retail and consumer supply chains.Over time, lower tariffs could also reinforce that broader return to core goods disinflation starting in the second quarter of this year. And because tariff driven inflation has weighed more heavily on the middle- and lower-income households, any eventual price relief could disproportionately benefit those groups.At the end of the day, this isn't just a legal story. It is a timing story. If IEEPA authority is curtailed, the arithmetic shifts pretty quickly. Margins move first, prices follow later, and the path back to goods disinflation could accelerate. That's why this is one ruling worth watching before the gavel drops.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.

Hey Smarties! There won't be a livestream for “Economics on Tap” today. But don't worry! “Economics on Tap” will return soon on Feb. 20. For now, we're sharing a new episode from our friends over at “This Is Uncomfortable.” Enjoy!Author and journalist Aymann Ismail wants his kids to grow up with a real connection to their Egyptian roots, including speaking Arabic. For his family, that means committing to a private Islamic school — and figuring out how to afford tuition.“This Is Uncomfortable” host Reema Khrais sits down with Aymann as he walks through his family budget and the financial trade-offs that decision requires. They talk about what's at stake for him, financially and culturally, and why holding onto Arabic feels especially urgent right now.If you liked this episode, share it with a friend. And if you want to tell us what you thought about the episode or about a tricky financial decision you've made, email us at uncomfortable@marketplace.org or call 347-RING-TIU. And follow our new social accounts on Instagram and Tiktok @ThisIsUncomfortablePod

One of Trump's top allies and dinner-party guests is now calling for American women to be imprisoned in the ICE Concentration Camps. Why does this keep coming up? Dem lawmaker flags explosive Trump allegation in Epstein files. Here's the interesting line - “Witness calls FBI's [National Threat Operations Center] and reports girl, later found dead, told him Trump and Epstein raped her. Also journalist John Parker reports from Minnesota. Plus Phil Ittner with the Ukraine Briefing.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Can we reject the politics of concentration camps, election denial, and oligarchy by showing up in numbers too large to ignore?See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Welcome to Exponential View, the show where I explore how exponential technologies such as AI are reshaping our future. I've been studying AI and exponential technologies at the frontier for over ten years. Each week, I share some of my analysis or speak with an expert guest to make light of a particular topic. To keep up with the Exponential transition, subscribe to this channel or to my newsletter: https://www.exponentialview.co/ ----In this episode, I'm joined by Jaime Sevilla, founder of Epoch AI; Hannah Petrovic from my team at Exponential View; and financial journalist Matt Robinson from AI Street. Together we investigate a fundamental question: do the economics of AI companies actually work? We analysed OpenAI's financials from public data to examine whether their revenues can sustain the staggering R&D costs of frontier models. The findings reveal a picture far more precarious than many assume; we also explore where the real infrastructure bottlenecks lie, why compute demand will dwarf energy constraints, and what the rise of long-running agentic workloads means for the entire industry. Read the study here: https://www.exponentialview.co/p/inside-openais-unit-economics-epoch-exponentialviewWe covered: (00:00) Do the economics of frontier AI actually work? (02:48) Piecing together OpenAI's finances from public data (05:24) GPT-5's "rapidly depreciating asset" problem (13:25) Why OpenAI is flirting with ads (17:31) If you were Sam Altman, what would you do differently? (22:54) Energy vs. GPUs; where the real infrastructure bottleneck lies (29:15) What surging compute demand actually looks like (33:12) The most surprising finding from the research (38:02) The race to avoid commoditization (43:35) Agents that outlive their models  Where to find me: Exponential View newsletter: https://www.exponentialview.co/ Website: https://www.azeemazhar.com/ LinkedIn: https://www.linkedin.com/in/azhar/ Twitter/X: https://x.com/azeem  Where to find Jamie: https://epoch.ai or https://epochai.substack.com Where to find Matt: https://www.ai-street.co  Production by supermix.io and EPIIPLUS1 Production and research: Chantal Smith and Marija Gavrilov. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Whether it's the financial crash, the climate emergency or the breakdown of the international order, historian Adam Tooze has become the go-to guide to the radical new world we've entered By Robert P Baird. Read by James Sobol Kelly. Help support our independent journalism at theguardian.com/longreadpod

In this bonus episode for BJJ business owners, we're joined again by David Bayarena! David is a BJJ black belt, a longtime BJJMM community member, and the founder of RONIN: a financial planning & training firm specialized in working with Jiu-Jitsu gyms.This conversation focuses on how BJJ gym owners can survive economic volatility and build real wealth, not just create a job for themselves. Topics include: cash flow discipline, break-even analysis, liquidity reserves, entity structure (LLCs vs. S-Corps), tax strategy, insurance protection, inflation, and smart use of leverage.Email David:david@roninwealth.com Work with David at RONIN Wealth:https://www.roninwealth.com⬆️ LEVEL UP with BJJ Mental Models Premium!The world's LARGEST library of Jiu-Jitsu audio lessons, our complete podcast network, online coaching, and much more! Your first week is free:https://bjjmentalmodels.comNeed more BJJ Mental Models?Get the legendary BJJMM newsletter:https://bjjmentalmodels.com/newsletterLearn more mental models in our online database:https://bjjmentalmodels.com/databaseFollow us on social:https://instagram.com/bjjmentalmodelshttps://threads.com/@bjjmentalmodelshttps://bjjmentalmodels.bsky.socialhttps://youtube.com/@bjjmentalmodelsMusic by Enterprize:https://enterprize.bandcamp.com

Together at last. In a rare joint performance, Dante and Matt join the Inside Economics crew to unpack January's jobs and CPI reports. The brief federal government shutdown delayed economic data releases a few days, which made for a loaded slate this week. Dante shares his impression of January's seemingly strong jobs report and then the team plays the stats game. A brief hiatus did not affect Marisa's ability to dominate. Matt then goes through the first inflation data of 2026, and where it looks like inflation is headed in the coming months.View the Full U.S. Macroeconomic Outlook Webinar here: https://events.moodys.com/ta6186-2026-bank-odwbn-mau28334-us-economic-outlook-q1View our AI generated paper here: https://www.economy.com/getfile?q=165AB685-ED95-43E8-8533-DA2CE131A01A&app=downloadHosts: Mark Zandi – Chief Economist, Moody's Analytics, Cris deRitis – Deputy Chief Economist, Moody's Analytics, and Marisa DiNatale – Senior Director - Head of Global Forecasting, Moody's AnalyticsFollow Mark Zandi on 'X' and BlueSky @MarkZandi, Cris deRitis on LinkedIn, and Marisa DiNatale on LinkedIn Questions or Comments, please email us at helpeconomy@moodys.com. We would love to hear from you. To stay informed and follow the insights of Moody's Analytics economists, visit Economic View. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Technovation, Peter High speaks with Saam Motamedi, General Partner at Greylock Partners, about the evolving role of artificial intelligence within the enterprise technology stack. They discuss how venture capital approaches enterprise AI companies at an early stage, how large enterprises are evaluating changes to their technology stacks, and what implications AI may have for workforce dynamics. Saam shares perspectives on how AI may influence infrastructure decisions, application development, and software business models over time. Key insights include: Shifts in enterprise infrastructure strategy Usage- and outcome-based software economics The future of AI agents What large enterprises should understand about emerging AI startups

I can't say I agree with everything my friend @Scottslifeeh said in this 65-minute conversation. Still, I acknowledge that the argument he presented is internally coherent and explains much of today's geopolitical tensions. It's always a pleasure to talk with him. I'm curious to what extent you agree with his theory about Trump as a disruptor of the City of London / Anglo-financial empire.

Present Values and Future Values Business Finance, FIL 240-001, Spring 2026, Lecture 9 Type: mp3 audio file ©2026

Present Values and Future Values Business Finance, FIL 240-002, Spring 2026, Lecture 9 Type: mp3 audio file ©2026

Welcome back to the Alt Goes Mainstream podcast.The Goldman Sachs Alternatives Summit “convened leaders across finance, geopolitics, technology, and culture” to discuss themes driving global markets.2025's Alternatives Summit was about “navigating a world in flux,” as the firm's recap of its event noted. The event aimed to help investors cut through the noise and put together the pieces of the puzzle in a dynamic and increasingly complex world. Alt Goes Mainstream joined the event to have unscripted conversations with Goldman Sachs Alternatives leaders to cut through the noise by unpacking key themes and trends at the intersection of private markets and private wealth.In this special series, we went behind the scenes and interviewed six Goldman Sachs Alternatives leaders about their current thinking on private markets and how the firm has built and evolved its private markets capabilities.This conversation was with Michael Bruun, Global Co-Head of Private Equity within Goldman Sachs Asset Management. He is a member of the Goldman Sachs Asset Management International Management Committee, Asset Management (AM) Private Equity Investment Committee, AM Growth Equity Investment Committee, AM Sustainable Investing Investment Committee, Asset & Wealth Management Inclusion and Diversity Council and is a member of the Goldman Sachs Firmwide Client Franchise Committee. In 2021, Michael was named Head of EMEA Private Equity within Goldman Sachs Asset Management and from 2019 to 2021, he was Head of Private Equity and Growth Equity investing for India. Michael joined the Merchant Banking Division in 2010 and worked in London and New York. Prior to that, he was a member of the Nordic Mergers & Acquisitions team in the Investment Banking Division (IBD), after initially joining IBD in 2005. Michael joined Goldman Sachs as an Analyst in the Fixed Income, Currency and Commodities Division in 2004. He was named Managing Director in 2013 and partner in 2016. Michael serves on the boards of Advania, Kahoot!, LRQA, Norgine, Synthon and Trackunit. He is a founding partner of the Human Practice Foundation in Denmark and a trustee in the UK. Michael earned a BA in Economics from the University of Copenhagen.Michael and I had a fascinating conversation about private equity, today's investing environment, the hardest part about investing today, and how product innovation is impacting private equity's market structure. We discussed:How investors can approach allocating to private equity today.The toolkit required to generate returns in private equity.The importance of network and operating partners in value creation.How new product innovation and new structures like evergreens and continuation vehicles are changing growth equity and private equity. The importance of understanding macro in a new world order of geopolitics and a new world order of investing.The skillsets that investors need to have to be a good investor in today's investing environment.The hardest part about investing today. Thanks Michael for sharing your wisdom, expertise, and passion about private equity. Show Notes00:56 Welcome to the Alt Goes Mainstream Podcast02:04 Michael Bruun's Background and Career02:31 Evolution of Private Equity03:14 Impact of Market Changes on Private Equity03:43 Operational Value Creation04:50 Importance of Value Creation Resources05:33 Driving EBITDA Growth06:04 Goldman's Value Acceleration Resources07:18 Focus on Data and AI08:27 AI in Different Sectors11:22 Goldman's Investment Strategy14:28 Scale and Capital in Private Equity15:40 Co-Investments and Evergreen Vehicles18:11 Flexibility in Private Markets23:53 Navigating Volatility24:59 Post-Investment Operations25:23 Goldman Sachs Engineering26:05 Future of Private Equity27:39 CEO AI Academy28:01 Conclusion and Final ThoughtsEditing and post-production work for this episode was provided by The Podcast Consultant.

AI disruption fears hit equity markets once again, sending the S&P 500 and Nasdaq lower with transport, commercial real estate and software stocks all under pressure. Meanwhile, global leaders gather for the Munich Security Conference as U.S. allies in Europe look to chart a more independent course. And in corporate news, L'Oreal Q4 sales miss expectations as strong numbers out of the U.S. and Europe fail to offset weakness in China, sending U.S.-listed shares sharply lower, but CEO Nicolas Hieronimus tells CNBC he's confident the French beauty giant will bounce back.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Economics can sound like a subject you suffered through once and never wanted to revisit — but Michael Blanco, president of the Charlotte Economics Club, argues it's actually the stuff people talk about every day: jobs, housing, inflation, interest rates, tariffs, AI, and where the economy is headed.In this episode of The Charlotte Ledger Podcast, Tony Mecia sits down with Blanco to talk about what the club does, who shows up to its events and why Charlotte — a longtime banking town that's becoming an even bigger financial hub — is the perfect place for a growing economics club. Today's episode of The Charlotte Ledger Podcast is sponsored by Child Care Search, a service of Child Care Resources Inc. Looking for child care? Our team provides guidance every step of the way! Search online at www.FindChildCareNC.org or call 1-888-600-1685 for live assistance and free, customized referrals.This episode of The Charlotte Ledger Podcast was produced by Lindsey Banks. Visit TheCharlotteLedger.com to learn more. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit charlotteledger.substack.com/subscribe

"Marketing's got this incredibly important role to play in generating meaning around the things that matter." Following in the theme of sharing ‘good news' and inspiration… in this episode of Can Marketing Save the Planet, we are joined by Ivo Gormley, OBE, Founder and CEO of GoodGym. Ivo shares the story of how a simple act of running to deliver a newspaper to an older, housebound neighbour evolved into an inspiring movement that is redefining exercise, tackling social isolation and building greener, more connected communities. GoodGym's model is beautifully simple, members walk, run, or cycle to collabortively undertake physical tasks within their local community. Now active in over 65 UK locations, it transforms solitary fitness into meaningful social action which is both fun and rewarding. A pivotal insight from their work highlights a pressing modern issue: "16 to 25 year olds are the most likely to be lonely... It's a fantastic evaluation showing that our activity is particularly powerful for giving people that sense of belonging and identity." The organisation's success is backed by rigorous research from the London School of Economics, which shows that participation leads to “a 27% increase in belonging, a 12% reduction in loneliness, and a 21% increase in life satisfaction.” Ivo sees a major opportunity for Marketers in this space to reposition civic contribution not as a worthy chore, but as a desirable, identity-building activity. "Marketing's got this incredibly important role to play in generating meaning around the things that matter," he argues, emphasising the need to make social progress a core part of an attractive, fun social life. Looking ahead, GoodGym is focusing on engaging younger demographics and scaling its impact, supported by a major media partnership. Ivo's vision is for GoodGym to become a mainstream, default option for exercise and a natural step towards a happier, healthier, and better-connected society. This episode will make you want to get out there and get involved! Tune in as we talk to Ivo about: How turning exercise into community service can create a “triple win” for individuals, neighbours, and local spaces. Why young people are most at risk, and how purposeful, collective action can build powerful belonging and life satisfaction. Why fun and collaborative experiences are key to driving sustained participation and behaviour change. The compelling social impact data from the LSE that proves combining fitness with volunteering is a highly effective. For more information:   Visit https://www.goodgym.org/ Enjoy - and if you love the podcast, share with your friends, family and colleagues. ________________________________________________________________________ About us… We help Marketers save the planet. 

Adam Smith is often invoked as the intellectual godfather of modern capitalism — but he was also a moral philosopher. Judo Bank founder and former CEO Joseph Healy joins Gene Tunny to argue that Australia's market economy has drifted from Smith's vision. From weak competition and high household debt to corporate scandals and lobbying influence, this episode explores whether capitalism has been “hijacked by capitalists” — and why complacency may be Australia's greatest economic risk.Gene would love to hear your thoughts on this episode. You can email him via contact@economicsexplored.com. About this episode's guest: Joseph HealyJoseph Healy is an experienced Australian banking executive and the author of What Would Adam Smith Make of Modern Australia? He has had a long career in financial services in Australia and internationally, including as a co-founder and former CEO of Judo Bank, a specialist SME bank. Joseph has a longstanding interest in Adam Smith's work as both an economist and moral philosopher. In his book, he draws on The Wealth of Nations and The Theory of Moral Sentiments to assess the state of modern Australian capitalism — examining competition, corporate governance, banking, regulation, education, and the relationship between economic performance and societal wellbeing.What You'll LearnWhy Adam Smith must be read as both an economist and a moral philosopher.How shareholder value thinking reshaped corporate incentives from the 1980s onward.Why weak competition in banking, airlines, retail, and energy may be generating economic rents in Australia.How the shift of bank lending toward housing may have created systemic risk and underinvestment in SMEs in Australia.Why Joseph gives Australia a C+ overall — and why that grade could deteriorate.Timestamps02:25 – Why Joseph wrote to The EconomistThe 250th anniversary of The Wealth of Nations and reclaiming Smith's legacy.09:18 – Why Moral Sentiments still matters“Loved and lovely” — Smith's moral framework explained.16:30 – The legal test vs the moral test“It's not ‘Will we get caught?' — it's ‘Is this the right thing to do?'”18:29 – Shareholder value and the erosion of restraintHow incentives shifted corporate behaviour from the 1980s onward.27:39 – Banking concentration and the shift to mortgagesBig Four dominance and declining SME lending.31:05 – Systemic risk and household leverageIs Australia too exposed to housing debt?36:10 – Lobbying and barriers to competitionWhy reform is politically difficult.40:45 – Five areas of reformGovernment size, competition, tax reform, governance, trade unions & education.48:34 – The Qantas exampleLobbying, protection, and consumer impact.51:39 – What would Adam Smith make of Australia?The “report card”: A for trade, D for competition, C+ overall.55:11 – Reclaiming capitalism“Capture it back again so it's working for everybody.”Links relevant to the conversationJoseph's book, What Would Adam Smith Make of Modern Australia?https://majorstreet.com.au/products/what-would-adam-smith-make-of-modern-australia-br-i-small-by-joseph-healy-i-smallLumo Coffee promotion10% of Lumo Coffee's Seriously Healthy Organic Coffee.Website: https://www.lumocoffee.com/10EXPLOREDPromo code: 10EXPLORED 

This week on Taking Stock Susan Hayes Culleton looks at the behavioural economics around Valentine's Day when she talks to Emma Howard of TU Dublin With the news that Cuba is running out of Jet Fuel Susan talks to Jude Webber of the Financial Times about the state of the island nation.Plus, how can you have a 100-year loan? Susan is joined by Leoine MacCann of Irish Life Investment Managers to look at Alphabet and the 100-year bond fund.

Industrial policy debates around critical metals continue to rage in national and financial capitals. What works best? Price floors? Export controls? Tariffs? A mixture? I wanted to flesh out these and other questions with two individuals that have been steeped in the policy and financial questions that the markets are struggling to answer: Arnab Datta and Alex Turnbull. Arnab is the Managing Director of Policy Implementation at Employ America and Alex is a well-known investor and researcher in the energy transition ecosystem. After getting their thoughts on the general state of play in the critical metals markets, we delve into price floors, the proper balance between the public and private sector, cost of capital, the MP Materials deal challenges, and what the next five years might look like.As a reminder we do mention companies in this episode so please do your own due diligence before making any investment decisions. If you enjoyed this discussion, please share it far and wide and don't forget to like and subscribe to the podcast wherever you listen. Thanks again and we'll see you next time.

From the lows of December retail sales to the highs of January payrolls, recent US data has sent mixed signals. But the economy remains in relatively good shape, argues Deputy Chief North America Economist Stephen Brown on the latest episode of the Capital Economics Weekly Briefing. He explores why the idea of a “K-shaped” economy may be overstated, what markets are missing about the productivity growth upturn, and the chances of much lower rates from a Kevin Warsh-led Fed. Also on the show, as Keir Starmer's government reels from one of its toughest weeks yet, Deputy Chief UK Economist Ruth Gregory assesses what a change of leadership could mean for the UK economy and financial markets, but also why the long-term growth outlook may not be as bleak as recent headlines suggest.AI already making a big contribution to US productivity growthWhy we still believe in the AI rally, and the S&P 500Would a stock market crash cause a global recession?Can China's trade surplus rise further?

Our Global Head of Fixed Income Research Andrew Sheets explains how key market indicators reflect a constructive view around the global cyclical outlook, despite a volatile start to 2026.Read more insights from Morgan Stanley.----- Transcript -----Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Global Head of Fixed Income Research at Morgan Stanley. Today I'm going to talk about the unusual alignment of a number of key indicators. It's Thursday, February 12th at 2pm in London. A frustrating element of investing is that any indicator at any time can let you down. That makes sense. With so much on the line, the secret to markets probably isn't just one of a hundreds of data series that a thousand of us can access at the push of a button. But many indicators all suggesting the same? That's far more notable. And despite a volatile start to 2026 with big swings in everything from Japanese government bonds to software stocks, it is very much what we think is happening below the surface. Specifically, a variety of indicators linked to optimism around the global cyclical outlook are all stronger, all moving up and to the right. Copper, which is closely followed as an economically sensitive commodity, is up strongly. Korean equities, which have above average cyclicality and sensitivity to global trade is the best performing of any major global equity market over the last year. Financials, which lie at the heart of credit creation, have been outperforming across the U.S., Europe, and Asia. And more recently, year-to-date cyclicals and transports are outperforming. Small caps are leading, breadth is improving, and the yield curve is bear steepening. All of these are the outcomes that you'd expect, all else equal, if global growth is going to be stronger in the future than it is today. Now individually, these data points can be explained away. Maybe Copper is just part of an AI build out story. Maybe Korea is just rebounding off extreme levels of valuation. Maybe Financials are just about deregulation in a steeper yield curve. Maybe the steeper yield curve is just about the policy uncertainty. And small cap stocks have been long-term laggards – maybe every dog has its day. But collectively, well, they're exactly what investors will be looking for to confirm that the global growth backdrop is getting stronger, and we believe they form a pretty powerful, overlapping signal worthy of respect. But if things are getting better, how much is too much. In the face of easier fiscal, monetary, and regulatory policy, the market may focus on other signposts to determine whether we now have too much of a good thing. For example, is there signs of significant inflation on the horizon? Is volatility in the bond market increasing? Is the U.S. dollar deviating significantly from its fair value? Is the credit market showing weakness? And do stocks and credit now react badly when the data is good? So far, not yet. As we discussed on this program last week, long run inflation expectations in the U.S. and euro area remain pretty consistent with central bank targets. Expected volatility in U.S. interest rates has actually fallen year-to-date. The U.S. dollar's valuation is pretty close to what purchasing power parity would suggest. Credit has been very stable. And better than expected labor market data on Wednesday was treated well. Any single indicator can and eventually will let investors down. But when a broad set of economically sensitive signals all point in the same direction, we listen. Taken together, we think this alignment is still telling a story of supportive fundamental tailwinds while key measures of stress hold. Until that evidence changes, we think those signals deserve respect. Thank you as always, for your time. If you find Thoughts on the Market useful, let us know by leaving a review wherever you listen. And also tell a friend or colleague about us today.

From France to Germany to Canada, governments are recalibrating their security, technology, and defense policies around one unspoken reality: America can't be counted on…See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Donald Trump goes after GOPers for canceling White House meetings that excluded Democrats. Did no one tell them you have to be 100% loyal or you'll be kicked out? Also journalist John Parker reports from Minnesota. Plus from France to Germany to Canada, governments are recalibrating their security, technology, and defense policies around one unspoken reality: America can't be counted on… Special Guest Mary Trump gives insights on the Tariff loss, Pam Bondi, and more.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On this episode of Coaching Call, Sifu Rafael welcomes Eric Holsapple, a developer, entrepreneur, and mindfulness leader who proves that success and stillness are not opposites, they are partners.Eric Holsapple is a successful developer and entrepreneur who has used mindfulness to transform his life and business, and now helps others do the same. With a PhD in Economics, nearly 40 years as a real estate CEO and developer, 20 years lecturing real estate at Colorado State University, and more than 30 years practicing yoga and meditation, Eric brings a rare integration of boardroom strategy and inner awareness.As the founder of Living in the Gap, Eric teaches CEOs and high-level professionals how to operate from presence instead of pressure. His workshops help leaders strengthen decision-making, reduce stress, and improve performance without sacrificing well-being. He demonstrates that merging business discipline with mindfulness is not soft, it is strategic. It impacts culture, clarity, and the bottom line.In this conversation, Sifu Rafael and Eric explore what it truly means to lead from within. They unpack how mindfulness sharpens communication, elevates leadership, and aligns personal growth with professional excellence. This is about closing the gap between who you are and how you lead.Sifu Rafael is a master instructor and the founder of Speaking Prowess, where he combines expertise in communication and leadership to help individuals unlock their full potential. As a professional speaker, solutions expert, and executive coach, Sifu Rafael leverages years of experience to guide clients toward their goals with clarity, purpose, and strategic insight. His mission is to make the art of effective communication accessible to all, empowering personal and professional growth. Sifu Rafael's unwavering dedication to improving communication skills has earned him a reputation as a trusted mentor and coach. His vision is clear: to enhance communication worldwide, one individual at a time.This episode is brought to you by Sifu's Mind Body Method, a 90-day lifestyle transformation that blends movement, mindset, nutrition, hydration, fasting, journaling, and faith. Learn more at www.sifurafael.com/smbmWatch on Facebook, LinkedIn, X, and YouTube and be sure to subscribe here: https://www.youtube.com/@sifurafaeltv?sub_confirmation=1Through Speaking Prowess and Sifu's Mind Body Method, Sifu Rafael helps leaders, entrepreneurs, and experts refine their message, command a room, and step onto more stages with clarity and confidence. From podcasts and live shows to keynote stages and curated experiences, Sifu Rafael helps people get seen, heard, and positioned as trusted voices in their industry while sharpening their speaking skills along the way.If you know you're meant to speak, lead, and impact at a higher level, this conversation is your invitation.Visit sifurafael.com to connect, explore speaking opportunities, and start positioning yourself for more stages, stronger presence, and real influence.#CoachingCall #SifuRafael #MindfulnessInBusiness #LivingInTheGap #LeadershipDevelopment #SpeakingProwess #SifusMindBodyMethod #ConsciousLeadershipThat's where connecting with Sifu Rafael matters.

Sportico has released their new round of MLS franchise evaluationsKurt Badenhausen visits SDH AM to look at the numbers, the trends, and what the future could look like...

Just nine days before he was assassinated, Malcolm X visited an unlikely place on 12th February, 1965: Smethwick, the industrial suburb of Birmingham that had recently gained a grim reputation as ‘the most racist town in Britain'.  Having been refused entry to France, Malcolm X had been speaking at the London School of Economics when he was invited by Avtar Singh Jouhl of the Indian Workers' Association to come to Smethwick's Marshall Street, an ordinary residential road which had become a flashpoint for informal housing segregation.  White residents shouted racist abuse at him. He saw signs advertising jobs declaring “coloured people need not apply”. He went to the Blue Gates pub, where a ‘colour bar' restricted service to non-white customers. After being denied service, he remarked that Smethwick felt “worse than America”. In this episode, Arion, Rebecca and Olly revisit the toxic politics of the 1964 general election, in which the notorious “If you want a n****r for a neighbour, vote Labour” slogan had surfaced in Smethwick; explain how the Conservative candidate Peter Griffiths entered Parliament under a cloud, with Prime Minister Harold Wilson labelling him a “parliamentary leper”; and consider how, just weeks before the Race Relations Act 1965 would ban discrimination in public places, Malcolm X's visit to Smethwick took place at pivotal moment in British race relations… CONTENT WARNING: racism, historical racist terminology Further Reading: • ‘The day Malcolm X came to Smethwick 60 years ago' (BBC News, 2025): https://www.bbc.co.uk/news/articles/cq8yy312xkxo • ‘Malcolm X in “the most racist town in Britain” (Black Country Living Museum): https://bclm.com/our-museum/blog/malcolm-x-in-the-most-racist-town-in-britain/ • ‘Malcolm X: 60 years on from special Smethwick visit' (ITV, 2025): https://www.youtube.com/watch?v=4eLVik05Wrs #UK #60s #Black #Racism  Love the show? Support us!  Join 

What if the biggest opportunity in your STR business isn't higher ADR or better occupancy — but who actually owns your guest relationship?In this episode of The STR Data Lab, Jamie Lane sits down with Arthur Colker, CEO of StayFi, to unpack one of the most under-discussed levers in short-term rentals: guest acquisition costs and repeat demand. As OTAs continue tightening control over guest data and shifting fee structures, hosts and property managers are left asking an important question — are we building a business, or renting one?Arthur breaks down why tracking guest acquisition costs, collecting first-party data, and building a direct booking channel isn't just about avoiding platform fees. It's about increasing total occupancy, improving booking windows, and creating long-term resilience. From practical strategies for smaller operators to how advanced hosts are reaching 60%+ direct bookings, this conversation reframes direct booking as a growth strategy — not just a defensive move.If you've ever wondered whether investing in your brand, email marketing, or direct booking site is worth it — this episode delivers clarity.You don't want to miss this episode.Practical Takeaways You Can Apply NowThink beyond the booker. Every guest in the reservation is a potential future customer. Expanding your marketing mindset beyond the primary booker unlocks new repeat and referral opportunities.Consistency beats perfection. A simple monthly email — even plain-text and personalized — can outperform polished newsletters. The goal is to stay top of mind when guests are ready to book again.Direct bookings increase total occupancy — not just margins. The real ROI isn't only saving OTA fees. It's filling nights that would otherwise sit empty.Build a brand, even if you're small. Whether you have one property or ten, guests need an identity to remember. For smaller operators, your personal story and hospitality voice are the brand.Control your pricing strategy. Advanced operators often price higher on OTAs and reward direct bookings with better value — flipping the script from dependence to leverage.Sign up for AirDNA for FREE

durée : 00:38:12 - L'Invité(e) des Matins - par : Guillaume Erner, Yoann Duval - Lea Ypi, professeure de théorie politique à London School of Economics, donne ce soir sa leçon inaugurale au collège de France sur "l'idée de socialisme moral". Conversation avec une grande philosophe européenne, qui cherche à redonner à la gauche sa place dans le débat. - réalisation : Félicie Faugère - invités : Léa Ypi Professeure de théorie politique à London School of Economics, invitée à la chaire annuelle "L'invention de l'Europe par les langues et les cultures" au Collège de France

In this episode of Run the Numbers, CJ Gustafson talks with Rivian CFO Claire McDonough about financing one of the most capital-intensive businesses in the world. They cover long-term investment decisions, capacity planning, cash management as production scales, lessons from Rivian's nearly $14B IPO, the risks of over- and under-building, and why federal EV tax credits matter more than most people think.—SPONSORS:Tabs is an AI-native revenue platform that unifies billing, collections, and revenue recognition for companies running usage-based or complex contracts. By bringing together ERP, CRM, and real product usage data into a single system of record, Tabs eliminates manual reconciliations and speeds up close and cash collection. Companies like Cortex, Statsig, and Cursor trust Tabs to scale revenue efficiently. Learn more at https://www.tabs.com/runAbacum is a modern FP&A platform built by former CFOs to replace slow, consultant-heavy planning tools. With self-service integrations and AI-powered workflows for forecasting, variance analysis, and scenario modeling, Abacum helps finance teams scale without becoming software admins. Trusted by teams at Strava, Replit, and JG Wentworth—learn more at https://www.abacum.aiBrex is an intelligent finance platform that combines corporate cards, built-in expense management, and AI agents to eliminate manual finance work. By automating expense reviews and reconciliations, Brex gives CFOs more time for the high-impact work that drives growth. Join 35,000+ companies like Anthropic, Coinbase, and DoorDash at https://www.brex.com/metricsMetronome is real-time billing built for modern software companies. Metronome turns raw usage events into accurate invoices, gives customers bills they actually understand, and keeps finance, product, and engineering perfectly in sync. That's why category-defining companies like OpenAI and Anthropic trust Metronome to power usage-based pricing and enterprise contracts at scale. Focus on your product — not your billing. Learn more and get started at https://www.metronome.comRightRev is an automated revenue recognition platform built for modern pricing models like usage-based pricing, bundles, and mid-cycle upgrades. RightRev lets companies scale monetization without slowing down close or compliance. For RevRec that keeps growth moving, visit https://www.rightrev.comRillet is an AI-native ERP built for modern finance teams that want to close faster without fighting legacy systems. Designed to support complex revenue recognition, multi-entity operations, and real-time reporting, Rillet helps teams achieve a true zero-day close—with some customers closing in hours, not days. If you're scaling on an ERP that wasn't built in the 90s, book a demo at https://www.rillet.com/cj—LINKS: Claire on LinkedIn: https://www.linkedin.com/in/claire-rauh-mcdonough-5291b946/Rivian: https://rivian.com/CJ on LinkedIn: https://www.linkedin.com/in/cj-gustafson-13140948/Mostly metrics: https://www.mostlymetrics.com—RELATED EPISODES:Why Revenue Recognition Is the Next AI Battleground | Dan Miller of RightRevhttps://youtu.be/TxhTtwmOass—TIMESTAMPS:00:00:00 Craziest Expense Story at Rivian00:01:22 Intro to Claire McDonough00:03:09 Capital Intensity and Vertical Integration at Rivian00:06:44 Raising $14B: How Rivian Planned Its IPO Capital00:10:22 Capacity Planning and Scaling R2 Production00:12:13 Sponsors — Tabs, Abacum, Brex00:15:34 Sweating Existing Capacity vs Overbuilding00:18:22 Winning EV Adoption from ICE Buyers00:22:27 How Federal EV Tax Credits Shape EV Pricing00:26:03 Sponsors — Metronome, RightRev, Rillet00:29:27 R2 as a Driver of Long-Term Profitability00:33:14 Supply Chain as the Critical Path to Launch00:36:53 Product Roadmap as the Anchor for Capital and Headcount00:39:40 Peloton and Flipkart Lessons from Banking00:43:42 Biggest Career Mistake00:44:50 Advice to Younger Self00:47:19 Rivian's Finance Software Stack

Welcome back to the Last Gay Conservative Podcast with Chad Law — where performance politics gets exposed and common sense still matters.This week's Wacky Wednesday breaks down five headline-grabbing stories that prove Washington is addicted to outrage while real governance gets ignored:✔️ The bipartisan FIGHT Act targeting animal cruelty, illegal gambling networks, trafficking, and biosecurity risks — and why nobody in media wants to cover it.✔️ The so-called “Seditious Six” viral video that triggered grand jury drama… over speech that wasn't illegal.✔️ The White House claiming it can import more beef while “protecting” American ranchers — and why you can't manipulate supply and demand without consequences.✔️ The Pride flag removal meltdown at the federally managed Stonewall site — and what federal flag code actually says.✔️ Three Republicans (Massey, Bacon, Kiley) siding with Democrats to weaken tariff leverage — and what that signals to global competitors.The through line?Performance over policy. Outrage over execution. Vibes over results.We discuss:Organized crime and animal fighting networksGrand jury theatrics vs constitutional lawTariffs as leverage vs tax policy experimentsRegulatory burden and rancher consolidationFederal flag code vs symbolic politicsParty unity and strategic fractureIf you're tired of governance being replaced by viral theatrics, this episode is for you.

canal.march.esLa sesión se desarrolla en inglés (con subtítulos orientativos en español). El filósofo político e historiador de las ideas británico John Gray (South Shields, Reino Unido, 1948) dialoga con el catedrático emérito de Ciencia Política (UAM) y académico Fernando Vallespín en esta nueva sesión de Diálogos cosmopolitas, la nueva serie de entrevistas a destacadas personalidades internacionales en los diferentes ámbitos de la cultura. John Gray ha sido profesor en las universidades de Essex y Oxford, y catedrático de Pensamiento Europeo de la London School of Economics. Colabora en medios como The Guardian, The Times Literary Supplement y The New Statesman, y en español ha publicado, entre otros ensayos, Las dos caras del liberalismo, Perros de paja, Misa negra y Los nuevos leviatanes.Más información de este acto canal.march.es

Welcome back to the Alt Goes Mainstream podcast.The Goldman Sachs Alternatives Summit “convened leaders across finance, geopolitics, technology, and culture” to discuss themes driving global markets.2025's Alternatives Summit was about “navigating a world in flux,” as the firm's recap of its event noted. The event aimed to help investors cut through the noise and put together the pieces of the puzzle in a dynamic and increasingly complex world. Alt Goes Mainstream joined the event to have unscripted conversations with Goldman Sachs Alternatives leaders to cut through the noise by unpacking key themes and trends at the intersection of private markets and private wealth.In this special series, we went behind the scenes and interviewed six Goldman Sachs Alternatives leaders about their current thinking on private markets and how the firm has built and evolved its private markets capabilities.This conversation was with Harold Hope, Partner, Global Head of Vintage Strategies, one of the world's largest secondary fund managers, in the External Investing Group (XIG) within Goldman Sachs Asset Management. He is also Chair of the XIG Vintage Funds Committee and a member of the XIG Real Estate Strategies Investment Committee and the XIG GP Strategies Investment Committee. Harold joined Goldman Sachs in 1999 as an Associate in Leveraged Finance and Corporate Finance within the Investment Banking Division and moved to the Alternative Investments & Manager Selection (now XIG) private equity business in 2001. He was named Managing Director in 2006 and Partner in 2016. Prior to joining the firm, Harold worked as a financial analyst at the investment banking boutique Bowles Hollowell Conner & Co. Harold earned a BA in Economics and Political Science from the University of North Carolina. Harold and I had a fascinating and timely conversation about the growth and evolution of the secondaries market. We discussed:Perspectives from Harold's early days in secondaries 25 years ago, when Goldman had raised its first $400M fund in secondaries and when the secondaries industry was doing around $2B per year in transaction volume.How the secondaries market is vastly different from five years ago. The evolution of innovation in the secondaries market.Why problem-solving is a defining feature of secondaries. What is the right skillset required to be a great secondaries investor?Why secondaries is fundamentally a valuation oriented business.Are secondaries returns driven by buying high-quality assets or by buying at steep discounts?Misconceptions about continuation vehicles and how the trend of private companies staying private longer impacts CVs.The how and the why behind Goldman's recent acquisition of Industry Ventures and why Goldman is excited about the opportunity set in venture and growth secondaries.Why scale matters in secondaries.Why secondaries might not become a traded market like the bank loan market and why secondaries may not fully achieve standardization because managers may not want completely uniform standardization.Why secondaries can be an on-ramp to private markets for private wealth investors.Thanks Harold for sharing your wisdom, expertise, and passion about secondaries and private markets. Show Notes00:35 Welcome to the Alt Goes Mainstream Podcast01:26 Harold Hope's Background and Entry into Secondaries02:13 Evolution of the Secondaries Market02:30 Drivers of Change in the Market02:43 Innovations in the Secondary Market04:45 Skill Sets Required in Secondaries05:42 Valuation and Investment Strategies07:14 Continuation Vehicles (CVs) Explained09:27 Impact of Private Companies Staying Private Longer10:47 Acquisition of Industry Ventures12:01 Specialized Teams in Secondaries13:14 Goldman's Unique Position in Secondaries14:28 Leveraging Data and AI in Secondaries15:47 Recent Trends and Market Dynamics16:42 Future Growth of the Secondaries Market17:10 Secondaries as an On-Ramp for Retail Investors18:15 Closing Thoughts and Future OutlookEditing and post-production work for this episode was provided by The Podcast Consultant.

U.S. stocks give up an initial bounce as investors digest a mixed jobs report - the headline figure more than double expectations but growth for last year revised lower. German industrial giant Siemens raises its outlook after posting a 10% jump in first quarter orders, but Mercedes full year earnings more than halve as the automaker takes a €1 billion hit from tariff costs. And in Japan, Softbank notches a fourth straight quarter of profit, boosted by rising valuations of its stakes in AI giants Nvidia and Open AI.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In this episode of Corporate Finance Explained on FinPod, we examine economies of scale, why growth strengthens some businesses while destroying value for others, and how cost structure ultimately determines whether scale becomes an advantage or a liability.Economies of scale are often treated as a vague benefit of getting bigger, but this episode breaks the concept down to its financial mechanics. We focus on fixed cost leverage, variable cost intensity, and operational leverage to explain why companies like Walmart, Amazon, and Costco become more efficient as they grow, while others struggle despite rapid revenue expansion.Using real-world examples, we show how scale changes unit economics, pricing power, margin resilience, and capital allocation decisions. We also explore the limits of scale and why growth alone does not guarantee profitability when variable costs dominate the business model.In this episode, we cover:What economies of scale actually mean in financial termsHow fixed costs and variable costs shape margin expansionWhy fixed cost leverage lowers unit costs as volume increasesHow purchasing power and logistics scale reinforce competitive advantageWhy Amazon accepted years of losses to build scale-driven efficiencyHow Costco uses scale to support a membership-based profit modelWhy Blue Apron's cost structure prevented profitable scalingThe role of operational leverage in amplifying upside and downside riskHow finance teams evaluate breakeven volumes and capacity utilizationWhy scale must reduce costs faster than complexity increases themThis episode also explains how finance leaders use these concepts in practice. Decisions around investing ahead of demand, expanding capacity, pricing aggressively, or slowing growth all depend on whether scale is improving unit economics or simply increasing exposure.This episode is designed for:Corporate finance professionalsFP&A and strategic finance teamsInvestors and analysts evaluating business modelsLeaders making capital allocation and growth decisions

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 results of Thomas Massie reviewing more of the Epstein files with some redactions removed, Howard Lutnick being questioned on his connection to Epstein, and more.Support Our Sponsors:The Wellness Company - Visit twc.health/problem to get American Made Ivermectin. Order your 6-month supply today and use code PROBLEM for $30 Off + FREE shipping. USA Residents onlyProlon - https://prolonlife.com/potpPrize Picks - Use code POTP on the Prize Picks app for $50 in lineups after you make your first $5 lineup!VanMan - https://vanman.shop/DAVEPart 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#libertarian See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

With the U.S.-Canada-Mexico Agreement coming up for review, our Head of Public Policy Research Ariana Salvatore unpacks whether our 2025 call for deeper trade integration still holds.Read more insights from Morgan Stanley.----- Transcript -----Ariana Salvatore: Welcome to Thoughts on the Market. I'm Ariana Salvatore, Head of Public Policy Research for Morgan Stanley. Today I'll be talking about our expectations for the upcoming USMCA review, and how the landscape has shifted from last year. It's Wednesday, February 11th at 4pm in London. As we highlighted last fall, the US-Mexico-Canada Agreement is approaching its first mandatory review in 2026. At the time, we argued that the risks were skewed modestly to the upside. Structural contingencies built into the agreement we think cap downside risk and tilt most outcomes toward preserving and over time deepening North American trade integration. That framing, we think, remains broadly intact. But some developments over the past few months suggest that the timing and the structure of that deeper integration could end up looking a little bit different than we initially expected. We still see a scenario where negotiators resolve targeted frictions and make limited updates, but we're increasingly mindful that some of the more ambitious policy maker goals – for example, new chapters on AI, critical minerals or more explicit guardrails on Chinese investment in Mexico – may be harder to formalize ahead of the mid-2026 deadline. So, what does the base case as we framed it last year still look like? We continue to expect an outcome that preserves the agreement and resolves several outstanding disputes – auto rules of origin, labor enforcement procedures, and select digital trade provisions. On the China question, our view from last year also still holds. We expect incremental steps by Mexico to reduce trans-shipment risk and better align with U.S. trade priorities, though likely without a fully institutionalized enforcement mechanism by mid-2026. And remember, the USMCA's 10-year escape clause keeps the agreement enforced at least through 2036, meaning the probability of a disruptive trade shock is structurally quite low. What may be shifting is not the direction of travel, but the pace and the form. A more comprehensive agreement may ultimately come, but possibly with a longer runway or through site agreements rather than updates to the USMCA text itself. Of course, those come with an enforcement risk just given the lack of congressional backing. We still expect the formal review to conclude around mid-2026, albeit with a growing possibility that deeper institutional alignment happens further out or via parallel frameworks. It also is possible that into that deadline all three sides decide to extend negotiations out further into the future, extending the uncertainty for even longer. So what does it all mean for macro and markets? For Mexico, maintaining tariff free access to the U.S. continues to be essential. The base case supports ongoing manufacturing integration, especially in autos and electronics. But without the newer, more strategic chapters that policymakers have discussed, the agreement would leave Mexico in a position that it's accustomed to – stable but short of a full nearshoring acceleration. This aligns with our view from last year, but we now see clearer near-term risks to the thesis of rapid institutional, deeper trade integration. For FX, the pace of benefit is from reduced uncertainty, but the effect is likely gradual. The absence of tangible progress on adding to the original deal suggests a more muted near-term impulse. For Canada, the implications are similarly two-sided. Near-term volatility around the review is likely underpriced, but a limited agreement should eventually lead to medium term USD-CAD downside. On the economics front, last year, we argued that the review would reinforce North America as a manufacturing block, even if it didn't fully resolve supply chain diversification from China. We think that remains true today, but with the added nuance that some of the more ambitious integration pathways may be pushed further out or structured outside of the formal USMCA chapters. So bottom line, our base case remains a measured, pragmatic outcome that reduces uncertainty, but preserves the core benefits of North American trade and supports growth across key asset classes. But it also increasingly looks like an outcome that may leave some strategic opportunities on the table for now, setting the stage for deeper alignment later – on a slightly longer horizon, or through a more flexible framework. Thanks for listening. 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.

In this episode, we look at asset location, how to decide which investments belong in taxable, tax-deferred, and tax-free accounts, how where we live shapes the opportunities available to us, and how capital ultimately expands our choices.SponsorsGelt - Taxes Done RightMasterworks - Invest in multimillion-dollar artwork offeringsDelete Me – Use code David20 to get 20% offInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesThe Hidden Healthcare Infrastructure Americans Cross the Border to Find—Kogod School of BusinessFARMWORKER SERVICE CENTER PROPOSAL AND ACTION PLAN FOR THE CITY OF CALEXICO AND IMPERIAL VALLEY by JAVIER MORENO—CalexicoLocation as an Asset by Adrien Bilal and Esteban Rossi-Hansberg—PrincetonIt Is Not Climate Denial But Adaptation Denial That Holds Us Back by Mathis Wackernagel and Peter Raven—SSRNThe Overlooked Edge: The Case for Asset Location in Managed Portfolios—MorningstarRevisiting the conventional wisdom regarding asset location by Sachin Padmawar and Daniel Jacobs—VanguardAsset location for equity by Sachin Padmawar and Daniel Jacobs—VanguardThis powerful strategy can create more spendable wealth by Tom Lenkiewicz—J.P. MorganAsset location strategies for tax efficient investing—BlackRockWhat would Yale do? Implementing after-tax asset allocation by Frances Walsh and Patrick Geddes—BlackRockRelated Episodes540: Beyond Munis — New ETFs for Tax-Efficient Bond Investing506: Should You Retire Early and Live Outside Your Home Country? With Joshua Sheats425: How Profits Motivate ChangeMasterworks DisclosuresListeners get priority access to Masterworks at https://www.Masterworks.com/davidArt correlation and appreciation data based on repeat-sales index of historical Post-War & Contemporary Art market prices and S&P 500 annualized return (includes dividends reinvested) from 1995 to 2025, developed by Masterworks. There are significant limitations to comparative asset class data. Indices are unmanaged and a Masterworks investor cannot invest directly in an index. Content creator (the “Endorser”) receives cash compensation from Masterworks, LLC (“Masterworks”). Endorser is a client of Masterworks. Masterworks can only make and accept sales after an offering statement has been filed, and “qualified”, by the SEC. Any offers may be revoked before notice of qualification. Indications of interest involve no obligation. Investing involves risk. Past performance not indicative of future returns. For further disclosure on Regulation A Offerings, Risks of Investing, Performance Metrics, Art Market Data, and more visit the offering documents filed with the SEC and Important Disclosures at masterworks.com/cd.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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Lisa Graves, the executive director of True North Research and president of the board of the Center for Media and Democracy explains why Trump is getting away with his paramilitary raids? Plus - what's up with the confiscated Georgia election ballots? ICE doesn't need their masks; they are safer than school children. Guess who is not safe, though? Grandmothers! Also why does a lie that has never been proven, never worked, and never been real still hold the power to undermine an entire democracy? Plus journalist John Parker reports from Minnesota.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Joe Piscopo Show 2-11-2026 36:57- Gen. Jack Keane, a retired 4-star general, the chairman of the Institute for the Study of War and Fox News Senior Strategic AnalystTopic: Russia's race to re-arm 50:46- A.R. Bernard, founder, CEO, and pastor of the Christian Cultural Center and Co-Chief Chaplain of the NYPDTopic: His new role as Co-Chief Chaplain of the NYPD 57:23- Karol Markowicz, Columnist for the New York PostTopic: "From kneeling to Spanish anthems: How the NFL lost Middle America at halftime" (Fox News op ed) 1:12:36- 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: "From Dow 800 to 50,000--Reagan, Trump and the supply-side miracle" (Fox News op ed) 1:26:56- Jason Snead, Executive Director of the Honest Elections ProjectTopic: Voter rolls 1:48:35- Chris Swecker, attorney who served as assistant director of the FBI for the Criminal Investigative Division from 2004 to 2006 Topic: Nancy Guthrie 2:02:44- Liz Peek, Fox News contributor, columnist for Fox News and The Hill, and former partner of major bracket Wall Street firm Wertheim & CompanyTopic: "The trans fever is over — and America is reckoning with the damage done" (Fox News op ed)See omnystudio.com/listener for privacy information.

Dave Smith brings you the latest in politics! On this episode of Part Of The Problem, Dave and Robbie "The Fire" Bernstein talk about Thomas Massie continuing to put pressure on Congress to be transparent about the Epstein files, Ghislaine Maxwell pleading the fifth when questioned, and more.Support Our Sponsors:FÜM - http://tryfum.com/problem & Use code PROBLEMMy Patriot Supply - http://preparelikedave.comRidge - https://ridge.com/potp10Part 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#libertarian See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Our Global Head of Thematic and Sustainability Research Stephen Byrd and U.S. Thematic and Equity Strategist Michelle Weaver lay out Morgan Stanley's four key Research themes for 2026, and how those themes could unfold across markets for the rest of the year. Read more insights from Morgan Stanley.----- Transcript -----Stephen Byrd: Welcome to Thoughts on the Market. I'm Stephen Byrd, Global Head of Thematic and Sustainability Research. Michelle Weaver: And I'm Michelle Weaver, U.S. Thematic and Equity Strategist. Stephen Byrd: I was recently on the show to discuss Morgan Stanley's four key themes for 2026. Today, a look at how those themes could actually play out in the real world over the course of this year. It's Tuesday, February 10th at 10am in New York. So one of the biggest challenges for investors right now is separating signal from noise. Markets are reacting to headlines by the minute, but the real drivers of long-term returns tend to move much more slowly and much more powerfully. That's why thematic analysis has been such an important part of how we think about markets, particularly during periods of high volatility. For 2026, our framework is built around four key themes: AI and tech diffusion, the future of energy, the multipolar world, and societal shifts. In other words, three familiar themes and one meaningful evolution from last year. So Michelle, let's start at the top. When investors hear four key themes, what's different about the 2026 framework versus what we laid out in 2025? Michelle Weaver: Well, like you mentioned before, three of our four key themes are the same as last year, so we're gonna continue to see important market impacts from AI and tech diffusion, the future of energy and the multipolar world.But our fourth key theme, societal shifts, is really an expansion of our prior key theme longevity from last year. And while three of the four themes are the same broad categories, the way they impact the market is going to evolve. And these themes don't exist in isolation. They collide and they intersect with one another, having other important market implications. And we'll talk about many of those intersections today as they relate to multiple themes. Let's start with AI. How does the AI and tech diffusion theme specifically evolve since last year? Stephen Byrd: Yeah. You know, you mentioned earlier the evolution of all of our themes, and that was certainly the case with AI and tech diffusion. What I think we'll see in 2026 is a few major evolutions. So, one is a concept that we think of as two worlds of LLM progress and AI adoption; and let me walk through what I mean by that. On LLM progress, we do think that the handful of American LLM developers that have 10 times the compute they had last year are going to be training and producing models of unprecedented capability. We do not think the Chinese models will be able to keep up because they simply do not have the compute required for the training. And so we will see two worlds, very different approaches. That said, the Chinese models are quite excellent in terms of providing low cost solutions to a wide range of very practical business cases. So that's one case of two worlds when we think about the world of AI and tech diffusion. Another is that essentially we could see a really big gap between what you can do with an LLM and what the average user is actually doing with LLMs. Now there're going to be outliers where really leaders will be able to fully utilize LLMs and achieve fairly substantial and breathtaking results. But on average, that won't be the case. And so you'll see a bit of a lag there. That said, I do think when investors see what those frontier capabilities are, I think that does eventually lead to bullishness. So that's one dynamic. Another really big dynamic in 2026 is the mismatch between compute demand and compute supply. We dove very deeply into this in our note, and essentially where we come out is we believe, and our analysis supports this, that the demand for compute is going to be systematically much higher than the supply. That has all kinds of implications. Compute becomes a very precious resource, both at the company level, at the national level. So those are a couple of areas of evolution.So Michelle, let's shift over to the future of energy, which does feel very different today than it did a year ago. Can you kind of walk through what's changed? Michelle Weaver: Well, we absolutely still think that power is one of the key bottlenecks for data center growth. And our power modeling work shows around a 47 gigawatt shortfall before considering innovative time to power solutions. We get down to around a 10 to 20 percent shortfall in power needed in the U.S. though, even after considering those solutions. So power is still very much a bottleneck. But the power picture is becoming even more challenged for data centers, and that's largely because of a major political overhang that's emerging. Consumers across the U.S. have seen their electricity bills rise and are increasingly pointing to data centers as the culprit behind this. I really want to emphasize though this is a nuanced issue and data center power demand is driving consumer bills higher in some areas like the Mid-Atlantic. But this isn't the case nationwide and really depends on a number of factors like data center density in the region and whether it's a regulated or unregulated utility market.But public perception has really turned against data centers and local pushback is causing planned data centers to be canceled or delayed. And you're seeing similar opinions both across political affiliations and across different regional areas. So yes, in some areas data centers have impacted consumer power bills, but in other areas that hasn't been the case. But this is good news though, for companies that offer off-grid power generation, who are able to completely insulate consumers because they're not connecting to the grid.Stephen, the multipolar theme was already strong last year. Why has it become even more central for 2026? Stephen Byrd: Yeah, you're right. It was strong in 2025. In fact, of our 21 categories of stocks, the top three performing were really driven by multipolar world dynamics. Let me walk through three areas of focus that we have for multipolar world in 2026. Number one is an aggressive U.S. policy agenda, and that's going to show up in a number of ways. But examples here would be major efforts to reshore manufacturing, a real evolution in military spending towards a wide range of newer military technologies, reducing power prices and inflation more broadly. And also really focusing on trying to eliminate dependency on China for rare earths. So that's the first big area of focus. The second is around AI technology transfer. And this is quite closely linked to rare earths. So here's the dynamic as we think about U.S. and China. China has a commanding position in rare earths. The United States has a leading position in access to computational resources. Those two are going to interplay quite a bit in 2026. So, for example, we have a view that in 2026, when those American models, these LLMs achieve these step changes up in capabilities that China cannot match, we think that it's very likely that China may exert pressure in terms of rare earths access in order to force the transfer of technology, the best AI technology to China. So that's an example of this linkage between AI and rare earths. And the last dynamic, I'd say broadly, would be the politics of energy, which you described quite well. I think that's going to be a big multipolar world dynamic everywhere around the world. A focus on how much of an impact our data centers are having – whether it's water access, price of power, et cetera. What are the impacts to jobs? And that's going to show up in a variety of policy actions in 2026. Michelle Weaver: Mm-hmm. Stephen Byrd: So Michelle, the last of our four key themes is societal shifts, and you walked through that briefly before. This expands on our prior longevity work. What does this broader framing capture? Michelle Weaver: Societal shifts will include important topics from longevity still. So, things like preparing for an aging population and AI in healthcare. But the expansion really lets us look at the full age range of the demographic spectrum, and we can also now start thinking about what younger consumers want. It also allows us to look at other income based demographics, like what's been going on with the K-economy, which has been an important theme around the world. And a really critical element, though, of this new theme is AI's impact on the labor market. Last year we did a big piece called The Future of Work. And in it we estimated that around 90 percent of jobs would be impacted by AI. I want to be clear: That's not to say that 90 percent of jobs would be lost by AI or automated by AI. But rather some task or some component of that job could be automated or augmented using AI. And so you might have, you know, the jobs of today looking very different five years from now. Workers are adaptable and, and we do expect many to reskill as part of this evolving job landscape. We've talked about the evolution of our key themes, but now let's focus a little on the results. So how have these themes actually performed from an investment standpoint? Stephen Byrd: Yeah. I was very happy with the results in 2025. When we looked across our categories of thematic stocks; we have 21 categories of thematic stocks within our four big themes. On average in 2025, our thematic stock categories outperformed MSCI World by 16 percent and the S&P 500 by 27 percent respectively. So, I was very happy with that result. When you look at the breakdown, it is interesting in terms of the categories, you did really well. As I mentioned, the top three were driven by multipolar world. That is Critical Minerals, AI Semis, and Defense. But after that you can see a lot of AI in Energy show up. Power in AI was a big winner. Nuclear Power did extremely well. So, we did see other categories, but I did find it really interesting that multipolar world really did top the charts in 2025. Michelle Weaver: Mm-hmm. Stephen Byrd: Michelle, thanks for taking the time to talk. Michelle Weaver: Great speaking with you, Steven. Stephen Byrd: 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.