Podcasts about gdp

What does 2026 have in store for the economy, markets, and your money? In this episode of Something More with Chris Boyd, Chris is joined by Jeff Perry, Russ Ball, and Brian Regan to share their bold predictions for the year ahead. From the Federal Reserve's recent quarter-point rate cut to the possibility of multiple cuts next year, we explore what these moves could mean for borrowing costs, mortgages, and investment strategies. Will inflation stay stubbornly above 3%? How about GDP and the Stock Market? Could home prices actually decline by 5%? And how might a new Fed Chair appointment shake up monetary policy? Our team dives into the data, the dissent within the Fed, and the political dynamics that could influence economic outcomes. If you want insights on interest rates, housing trends, and the forces shaping 2026, this episode is packed with valuable perspective. #EconomicPredictions #2026Forecast #InterestRates #InflationTrends #HousingMarket #FedPolicy #FinancialPlanning #MarketInsights #SomethingMorePodcast #WealthManagement For more information or to reach TEAM AMR, click the following link: https://www.wealthenhancement.com/advisor-teams/amr-team

As 2025 winds down, investors are taking stock of a year full of twists and turns. From NVIDIA’s blockbuster earnings boosting global tech sentiment to Singapore’s economy outperforming expectations with GDP growth tipped around 4%, there have been plenty of highlights, but the market volatility has been a stark reminder of the importance of staying strategically positioned. Should you tweak your portfolio? How can you balance chasing new opportunities while protecting yourself if the next cycle turns bumpy? On Wealth Tracker, Hongbin Jeong spoke with Ivan Neo, Wealth Manager, PhillipCapital to explore what these developments mean for investors as 2026 approaches. See omnystudio.com/listener for privacy information.

The 2024 election was very confusing for Libs. After years of pandering to minority groups and “expert” predictions that Trump's immigration policies would lose his Latino supporters, a Pew study found Latino Americans surged to MAGA with over 48% – actually rising from 36% in 2020. But for people who aren't racist panderers, the explanation is simple. Cultural traits common among many Mexican-American immigrants — Catholic faith, traditional family values, commitment to hard work and law-following — align with conservative ideas. Many Latino immigrants resent those who cross the border illegally and view legal immigration as a matter of principle – because they worked hard, followed the law, and distrust those who won't do the same. In fact, a recent study found Latino Americans are powering US economic growth, reaching an estimated $3.7 trillion of our GDP. Chris Salcedo is a television and radio broadcaster, political analyst, and podcaster. He is Executive Director of the Conservative Hispanic Society and author of The Rise of the Liberty-Loving Latino. Follow at https://x.com/CSalcedoShow⠀Rep. Maria Elvira Salazar is the U.S. Representative for Florida's 27th District and a five-time Emmy Award-winning journalist. She is the author of “Dignity Not Citizenship” available at https://amzn.to/4q14rdc and was born in Miami's Little Havana to Cuban exiles. Follow at https://x.com/MaElviraSalazar⠀Dr. Josef Witt-Doerring is a board-certified psychiatrist and former FDA Medical Officer. He is Medical Director of TaperClinic, specializing in de-prescribing psychiatric medications, and runs a growing YouTube channel focused on mental health education. Follow at https://x.com/drjosefWD 「 SUPPORT OUR SPONSORS 」 • AUGUSTA PRECIOUS METALS – Thousands of Americans are moving portions of their retirement into physical gold & silver. Learn more in this 3-minute report from our friends at Augusta Precious Metals: ⁠⁠⁠⁠⁠https://drdrew.com/gold⁠⁠⁠⁠⁠ or text DREW to 35052 ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠• FATTY15 – The future of essential fatty acids is here! Strengthen your cells against age-related breakdown with Fatty15. Get 15% off a 90-day Starter Kit Subscription at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://drdrew.com/fatty15⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ • PALEOVALLEY - "Paleovalley has a wide variety of extraordinary products that are both healthful and delicious,” says Dr. Drew. "I am a huge fan of this brand and know you'll love it too!” Get 15% off your first order at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://drdrew.com/paleovalley⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ • VSHREDMD – Formulated by Dr. Drew: The Science of Cellular Health + World-Class Training Programs, Premium Content, and 1-1 Training with Certified V Shred Coaches! More at https://drdrew.com/vshredmd • THE WELLNESS COMPANY - Counteract harmful spike proteins with TWC's Signature Series Spike Support Formula containing nattokinase and selenium. Learn more about TWC's supplements at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twc.health/drew⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ 「 ABOUT THE SHOW 」 Ask Dr. Drew is produced by Kaleb Nation (⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://kalebnation.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠) and Susan Pinsky (⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/firstladyoflov⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠e⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠). This show is for entertainment and/or informational purposes only, and is not a substitute for medical advice, diagnosis, or treatment. Executive Producers • Kaleb Nation - ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://kalebnation.com⁠⁠⁠⁠⁠⁠⁠⁠⁠ • Susan Pinsky - ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://x.com/firstladyoflove⁠⁠⁠⁠⁠⁠⁠⁠⁠ Content Producer & Booking • Emily Barsh - ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://x.com/emilytvproducer⁠⁠⁠⁠⁠⁠⁠⁠⁠ Hosted By • Dr. Drew Pinsky - ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://x.com/drdrew⁠⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

What happens to wholesale distribution when tariffs rise, interest rates stay high, and customers expect more with less friction? In this episode of Around the Horn in Wholesale Distribution from LeadSmart Channel Cloud, Kevin Brown and Tom Burton sit down with Modern Distribution Management editor and market analyst Mike Hockett to unpack the data behind the headlines and what it means for revenue leaders in distribution. You will hear a practical, numbers-driven outlook for 2025 that connects GDP forecasts, Fed policy, and tariff risk with real impacts on margins, inventory, and channel relationships. The conversation stays grounded in what wholesalers, manufacturers, and reps can control, and how to use planning, consultative commerce, and better pipeline visibility to future-proof distribution businesses through uncertainty.  What You Will Learn: Why November's softer numbers do not necessarily signal a collapse, and how MDM thinks about “soft landing” versus “stall.”How tariffs, elections, and Fed policy are likely to affect pricing power, imports, and inventory strategy for wholesale distribution teams.Where distributors are still leaving money on the table because of weak forecasting, poor CRM adoption, and limited collaboration with suppliers and reps.How to connect market forecasts to practical decisions about hiring, territory coverage, and hybrid selling models.Episode Highlights:00:00 – Why this conversation matters now08:15 – Inside MDM's latest distribution data18:40 – Are we heading toward a soft landing or a stall?30:10 – Tariffs, trade policy, and pricing pressure42:35 – Forecasting failures inside distribution organizations55:20 – Hybrid selling and channel conflict1:07:45 – Technology, CRM adoption, and operational readiness1:21:30 – M&A, succession planning, and consolidation signals1:33:10 – Practical priorities for the next 12 months Meet the Guest: Mike Hockett is an editor and market analyst with Modern Distribution Management (MDM) and the National Association of Wholesaler-Distributors. He spends his time inside the data and conversations that shape the future of wholesale distribution, from sector forecasts and benchmarking to technology, talent, and channel strategy. Tools, Frameworks, or Strategies Mentioned:MDM's annual distribution forecast and benchmark reporting.Practical approaches to collaborative planning and forecasting between manufacturers, reps, and distributors.CRM and pipeline practices that give revenue leaders in distribution a clearer “ground truth” for planning.Leave a Review: Help us grow by sharing your thoughts on the show.Learn more about the LeadSmart AI B2B Sales Platform: https://www.leadsmarttech.com/ Join the conversation each week on LinkedIn Live.Want even more insight to the stories we discuss each week? Subscribe to the Around The Horn Newsletter.You can also hear the podcast and other excellent content on our YouTube Channel.Follow us on Facebook, Twitter, Instagram, or TikTok.

I was having breakfast with my son, daughter-in-law and grand child earlier in the week. He is 25, she is 24, and baby is 5 weeks old.They're both pretty successful in their jobs - both in sales, on commission, so very much performance-based - and they both work very hard. They are ambitious. They want a big house with a big family, and plenty of money to live off. Pretty normal ambitions, really, and once upon a time not so impossible to achieve.I'm extremely proud of them both for having gone against the grain and had their first child so young. I'm also proud of how they have both adapted to parenthood. They live with me, so I see every day how utterly devoted they are, how much effort they put in, how they are learning and flourishing. The way Millie has thrown herself into motherhood and totally dedicated herself to her child is a thing to behold. Breast feeding on demand, everything. It really is a joy to see.Because they've started a family young, there is a very real chance they will go on to have a very big family. They both say that is what they want. My son, Samuel, has now gone back to work, while Millie is on maternity leave. But having both made several successful deals, and with a backlog of outstanding commission coming payable too, they found themselves between them paying £26,000 of taxes last month - 50% of the £53,000 they earned was taken, when you factor in the student loans they have to repay. (They might get some of that back at the end of the year).To earn that kind of money in a month at such a young age is just brilliant - I see how hard both of them work, the hours they put in, early morning after early morning, late night after late night, the persistence - and I'm proud of them. It is not easy. None of their university colleagues are doing anything like as well, at least in financial terms.With the bonanza month they both had, they could have paid off significant chunks of their student loans. But no such luck. The tax man cometh first.Meanwhile, they are so far from being able to buy a house for their young family - not just in the area they grew up, but anywhere in Greater London - it's a joke. I like having them live with me, don't get me wrong, but the fact that even a couple as successful as this are miles away from owning a property of reasonable enough size to start a family makes my blood boil.We live in a Victorian terraced house in South London that was built 150 years ago for a working-class man and his family. Yet a working-class man could never afford to buy this house now, even though it's 150 years old - never mind the highest-earning couple in their peer group.The most commonly given reason why people do not have bigger families earlier in life is expense. And what is the greatest expense in your life? Altogether now, “your government”. By far and away. Lower that expense and people will have bigger families again, earlier in life. (Even the cost of housing itself - the second biggest expense in a typical life - would come down with less government - less planning permission, less building regulation, less market intervention for political ends, less fiat and so on).Quite a few of the houses in our street are owned by the council. An old lady who lived in one of them recently died, and her house was given to a Somali family. So the taxes that Samuel and Millie are paying, and would like to have been able to use towards their own family, are being used to house another family not just from another country, but another continent never mind another culture. I've no doubt their needs are great. They get the house they need. We pay. How many more families not from the UK are we expected to sponsor - and delay/minimize our own procreation for?We are literally taxing our own to enable to the procreation of others. As I say in the title, we are taxing ourselves into oblivion.“Have you ever known taxes to actually go down?” My son asked me.“Well,” I said. “They came down a bit in 1980s under Thatcher”.It might feel relatively recent to me, but that was a good 15 years - half a generation - before my son was born in 2000. And even under Thatcher and Reagan, it's worth remembering, the state actually grew.The state continued to grow in the 90s and 00s, and, by the time you factor in all the various stealth taxes that got introduced, not least fiscal drag - perhaps the most odious of the lot - as well as currency debasement, so did taxes.Now, because of fiscal drag, you see teachers paying higher rates of Income Tax. It's not in any way exceptional in London to earn more than 50 grand. You haven't got a hope of having any kind of lifestyle, if you don't. I dread to think how many Londoners - those that work hard at least - are paying higher rates of tax. And for what?What chance do these people have of buying a home and starting a family?And all this money is being taken to spent on what, exactly? Not potholes, that's for sure.I think the question my son was really asking was, “Is there any chance taxes come down?”Well, if you look at Britain since World War II - actually since World War I - the growth in the state has been relentless and inexorable. So the rise in taxes we must pay has been inexorable. I'm not just talking about Income Tax. As I say, I'm talking about all the stealth taxes and debasement of currency as well. Is there any realistic chance they'll come down? Liz Truss only tried to slash government spending by two and a half percent. And look what that did.It's incredible to think that at the turn of the 20th century taxation - or the state - amounted to less than 10% of GDP.Even if Reform were to win the next election, how would they realistically cut state spending by more than a couple or three percent? The institutional resistance - the blob, the civil service, the quangos, the media - would fight them at every turn. In short, taxes are unlikely to come down by anything meaningful.We cannot get this country purged until the currency collapses. That's the only way I see it happening. It's very sad. If you live in a Third World Country such as the UK, I urge you to own gold or silver. The pound is going to be further devalued. The bullion dealer I recommend is The Pure Gold Company. Pricing is competitive, quality of service is high. They deliver to the UK, the US, Canada and Europe or you can store your gold with them. More here.My son, who is not particularly political, observes the absurdity of it: many people who build wealth, the most productive and talented, are leaving because of high taxes, and we replace net contributors with net takers. The country is systematically driving away the people who create value while importing those who consume it. It's economic suicide by design.As readers of Daylight Robbery will know, I regard taxation as the best measure of freedom there is. The more heavily taxed societies - where obviously there is limited economic freedom - tend to be the societies where there is limited freedom of speech, freedom of movement, freedom of thought, freedom to experiment and all the rest of it.Freedom of movement in the UK is limited by the cost of movement - whether it's transport costs, petrol costs, Stamp Duty, fines, charges, new mileage taxes - all reduce movement. They're all a tax. There might not be laws preventing movement in the way there once were if you were, say, a serf, but taxes give you a similar outcome. They restrict movement - and thus possibility - because people cannot afford to move.You don't need me to demonstrate how freedom of both thought and speech are being attacked. The two-tier justice system sees people committing violent crimes getting released early - indeed often not even getting convicted - while people who just said words get locked up.I'm sorry to say it, but I don't think even Farage and Reform can turn this one around, particularly when Farage is watering a lot of his policies down in order to give the media less to smear him with, and make himself more electorally palatable. Starmer did something not so totally dissimilar.And if something should happen to Farage, what then? What would Reform be without him? I like Richard Tice a lot, but there is not exactly a huge queue of people waiting to fill Farage's boots.Tell someone about this great article.So I come back to my point that I've made on these pages many times. If you are young and wanting to build a good life for yourself, and you want to be rewarded for the hard work you put in, your chance of doing that in the UK is limited. You're best off going somewhere else. Sorry to sound negative. There are many things to be positive about in this world, but the future of taxation and freedom in the UK is not one of them.Remember the golden rule of Daylight Robbery: fix taxation, everything else follows.But there is no sign of us doing that.Until next time,DominicICYMI, here is this week's commentary - also prepping for the North American tax loss trade.And, finally, I appeared on the mighty Tom Woods Show this week. I love Tom, and he is fast becoming one of my best buddies. Here are links to the interview on Apple podcasts, Spotify and YouTube. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.theflyingfrisby.com/subscribe

It's been a week of back and forth for the Taxpayers' Union and the Finance Minister. Nicola Willis has challenged Union chair and former finance minister Ruth Richardson to a debate, which was met with a sweet treat sent to Nicola and media. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Kia ora,Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news today dominated by the vile attack in Sydney, extremism begetting extremism all permitted by unfiltered hatreds flowing out from its center. Financial news seems trivial in light of this. Of course we won't be covering this Australian tragedy. But it is likely to harden attitudes just when they need to soften.In the meantime, we are noting tech weakness dominating equity markets, and Fed speaker comments (here and here) pushing long benchmark bond yields higher. The USD is soft and down nearly -1% for the week. But first, the week ahead will locally feature Wednesday's current account data, and more so by Thursday's GDP tracking of Q3-2025 economic activity. The final consumer and business confidence survey results will likely come this week too.In Australia on the economic front, it will be about tracking household wealth, also out on Thursday.In the US, they will release catch-up data for non-farm payrolls on Wednesday for both October (??) and November. (+35,000 expected) That will be followed by November CPI data (3.2% expected). A slew of other US activity data will hit the news as well.In Japan, financial markets will be glued to their central bank meeting results (expect a +25 bps rise to 0.75%) along with a 3%+ CPI reading. From China, they will have their big monthly data dump of retail and industrial activity. In India they will release a lot of data too, including PMIs, but then, we will also get PMIs from many other countries, including our own PSI as well.Over the weekend, China said its new loan demand remains unusually weak, and in November came in even lower than the weak forecasts by observers. Chinese banks extended ¥390 bln in new yuan loans, up from the unusually low October level but still below both last year's weak ¥580 bln and market expectations of ¥500 bln. Soft household demand continues to weigh on stimulus efforts. Remember, over the past five years, this loan demand has averaged ¥830 bln in a November month so the current drag is notable.And it is looking increasingly like investors, including boardroom directors in charge of making capital expenditure decisions, have goner on a quiet strike in China.And staying in China, things just got worse for wavering China Vanke on Friday, once one of China's largest property developers. The Shenzhen-city controlled business was unable to get bondholder support for its latest financial restructuring. So current lenders took more of its assets as security.India's CPI inflation remains very low at +0.7% in November from a year ago, up from its record low level in October. This was driven by an almost -4% fall in food prices.India's bank loan growth is back up +11.5% from a year ago and its fastest expansion this year.In Malaysia, both their retail sales (+7.2% year-on-year) and their industrial production (+6.0%) expanded at an accelerating pace in October data released overnight.In Japan, it is becoming clear (from company financial reporting) that the Trump tariffs on Japanese exports have backfired. Japanese companies raised their prices after the initial tariff hit, the Americans paid the higher prices, and when Washington backed away from some of the more extreme levels after negotiation, and those hiked prices didn't retreat. They stayed up and boosted Japanese company profits. The picture was probably similar elsewhere. The ultimate losers have been the American buyers. American reshoring has been weak, so much so that one Fed member is now more worried about jobs than inflation.Canadian building consents surprised analysts with quite a surge in October, especially residential consents for multi-unit buildings in Toronto. That drove an outsized +15% national gain from September to be +19% higher than a year ago. On an annual basis, residential consents are also up +19% with Ontario up more than +28%.The UST 10yr yield is now at 4.20%, unchanged from this time Saturday, up +6 bps from this time last week. The price of gold will start today at US$4299/oz, and up +US$5 from Saturday, up +US$84 from a week ago and back near its mid-October peak. And we should note that silver unchanged at US$62/oz.American oil prices are holding at just on US$57.50/bbl, while the international Brent price is down -50 USc at just over US$61/bbl. Both are -US$2.50 lower than a week ago. Separately, it is very noticeable that the North American rig counts are still languishing near their four year lows. No-one is rushing to invest as prices and demand stay very low.The Kiwi dollar is -10 bps softer from Saturday, now at just over 58 USc. But it is up +430 bps from a week ago. Against the Aussie we are unchanged at 87.2 AUc. Against the euro we are unchanged too at 49.4 euro cents. That all means our TWI-5 starts today at just under 62.2, and up +10 bps from Saturday, up +20 bps for the week.The bitcoin price starts today at US$88,831 and down -1.6% from this time Saturday, and and essentially unchanged from last week at this time. Volatility over the past 24 hours has been low, at just on +/- 0.9%.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Welcome to Dentist Money Two Cents, a look at the latest financial and economic news from the past week.
 On this episode of Dentist Money's Two Cents, Matt, Taylor, and Rabih break down the Federal Reserve's latest projections, what slower GDP growth means for interest rates, and how current economic conditions affect the dental industry. They also talk about shifts in the dental workforce and address upcoming changes to student loan repayment as the SAVE plan nears its end. Learn more about the Dentist Money Launchpad Program, join the waitlist to learn everything you didn't learn about money in dental school through a series of live courses built exclusively for D4s and recent grads! Book a free consultation with a CFP® advisor who only works with dentists. Get an objective financial assessment and learn how Dentist Advisors can help you live your rich life.

Amidst ongoing U.S. efforts to mediate a Russia–Ukraine peace and the release of a new U.S. national security strategy that has sent shockwaves through Europe, I'm sitting down with the foreign minister of Latvia, Baiba Braze, to get her unique perspective.Latvia is a small Baltic country bordering Estonia, Lithuania, Belarus, and Russia. In the 1940s, the Soviets occupied Latvia and its neighboring countries—a reality that has made Latvia hyper-vigilant against potential Russian expansionism.Latvia joined both the EU and NATO in 2004, alongside Lithuania and Estonia.Latvia is one of the few NATO countries that spends considerably more than 2 percent of its GDP per year on its military.“We keep reminding [other NATO countries] that it's possible to do that, and we are showing you as our example. In our case, it's 5 percent hard defense capabilities,” Braze said.Latvia is working to reallocate state funding to hit a target of 4.91 percent of GDP in defense spending by 2026 and 5 percent in subsequent years.In our wide-ranging interview, Braze discusses the Ukraine war, how she sees a potential peace agreement taking shape, and how pressure can be mounted on Russia. She's traveled four times to Ukraine in the 18 months since her appointment as Latvia's minister of foreign affairs.Views expressed in this video are opinions of the host and the guest, and do not necessarily reflect the views of The Epoch Times.

⬜ Welcome to Palvatar Market Recap, your go-to daily briefing on the latest market movements, global macro shifts, and crypto trends—powered by Raoul Pal's AI avatar, Palvatar. ⬜ In today's update, Palvatar breaks down a mixed global market session driven by fresh economic data and central bank signals. U.S. jobless claims unexpectedly jumped while a Fed rate cut sent the Dow soaring. Europe saw modest gains on hopes of a Bank of England cut after soft GDP data, with German inflation holding steady. Asian markets were similarly mixed, highlighted by a strong Nikkei and weakness in Hong Kong's tech sector.

The British economy is shrinking. Figures just released by the Office for National Statistics (ONS) show that GDP fell by 0.1 per cent in the three months to October. The contraction came after growth of 0.1 per cent in the three months to September. On a monthly basis, the economy shrank by 0.1 per cent in both September and October after remaining flat in August. Is growth really Labour's priority? And what impact is all this doom and gloom having inside the party?Lucy Dunn speaks to James Heale and Tim Shipman.Produced by Oscar Edmondson.Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.For more Spectator podcasts, go to spectator.co.uk/podcasts.Contact us: podcast@spectator.co.uk Hosted on Acast. See acast.com/privacy for more information.

Power is already concentrated today: over 800 million people live on less than $3 a day, the three richest men in the world are worth over $1 trillion, and almost six billion people live in countries without free and fair elections.This is a problem in its own right. There is still substantial distribution of power though: global income inequality is falling, over two billion people live in electoral democracies, no country earns more than a quarter of GDP, and no company earns as much as 1%.But in the future, advanced AI could enable much more extreme power concentration than we've seen so far.Many believe that within the next decade the leading AI projects will be able to run millions of superintelligent AI systems thinking many times faster than humans. These systems could displace human workers, leading to much less economic and political power for the vast majority of people; and unless we take action to prevent it, they may end up being controlled by a tiny number of people, with no effective oversight. Once these systems are deployed across the economy, government, and the military, whatever goals they're built to have will become the primary force shaping the future. If those goals are chosen by the few, then a small number of people could end up with the power to make all of the important decisions about the future.This article by Rose Hadshar explores this emerging challenge in detail. You can see all the images and footnotes in the original article on the 80,000 Hours website.Chapters:Introduction (00:00)Summary (02:15)Section 1: Why might AI-enabled power concentration be a pressing problem? (07:02)Section 2: What are the top arguments against working on this problem? (45:02)Section 3: What can you do to help? (56:36)Narrated by: Dominic ArmstrongAudio engineering: Dominic Armstrong and Milo McGuireMusic: CORBIT

In this explosive episode, we dive into the shocking reality of terrorist entry, narcoterrorism, and U.S. border policy under the Biden administration, plus a look at Trump's economic record and trade victories. Highlights include:

America's new National Security Strategy is a hellish concoction of far-right obsessions, paranoid conspiracy thought, imperial fantasy, and outright aggression. European leaders are horrified but what are they going to do about it? Plus: Glasgow South MP Gordon McKee explains the UK's debt to GDP ratio using towers of custard creams and bourbons. But can you make politics too simple? And in the Extra Bit for Patreons, we talk about Netflix's real goal in trying to buy Warners: to kill off cinema. 

FF: Deficits DO Matter! We talk about holiday spending in the U.S. and Canada, which can add to the monthly deficit and overall debt for the consumer. Governments are continuously increases their debt and running deficits every year. While some may say that deficits don't matter or "in the long run, we'll all be dead," but the truth is that the only way to increase the monetary supply without inflation is to create enough value to account for the increase. That is not what is going on in the world today. The government deficit is added to GDP, but the government isn't actually producing anything, so the calculation for GDP is seriously flawed. The greatest trick the Fed ever did was to convince the world that 2% inflation was good. It just makes it take more currency to get the goods and services you need and steals your purchasing power. We talk about how you can plan ahead to make your world a better place! Sponsors: American Gold Exchange Our dealer for precious metals & the exclusive dealer of Real Power Family silver rounds (which we finally got in!!!). Get your first, or next bullion order from American Gold Exchange like we do. Tell them the Real Power Family sent you! Click on this link to get a FREE Starters Guide. Or Click Here to order our new Real Power Family silver rounds. 1 Troy Oz 99.99% Fine Silver Abolish Property Taxes in Ohio: www.AxOHTax.com  Get more information about abolishing all property taxes in Ohio. Our Links: www.RealPowerFamily.com Info@ClearSkyTrainer.com 833-Be-Do-Have (833-233-6428)

Peter St. Onge breaks down the Fed cut, the real state of the economy, AI's hit to white-collar jobs, and why gold, silver, and Bitcoin are all moving on the same debasement trend. A sharp, fast conversation on markets, inflation, and where this cycle is heading.#federalreserve #ai #inflation -----------Thank you to our #sponsor MONEY METALS. Make sure to pay them a visit: https://bit.ly/BUYGoldSilver------------

The truth behind inflation, housing, and global power moves — a deep dive into how Trump is reshaping America's economy and defending its interests:

The economy is roaring — and nobody's talking about it. This episode dives into:

Rural populations are shrinking. In 11 of the 29 OECD countries included in the OECD Reinforcing Rural Resilience report (https://www.oecd.org/en/publications/reinforcing-rural-resilience_7cd485e3-en.html), rural populations are declining, not only as percentage of national populations but also in absolute numbers. Rural regions close to cities are also exposed to this trend, particularly if their populations tend more easily to move to urban areas. Despite not being an OECD Member country, Kazakhstan is experiencing similar trends. During the Soviet Union, its urban population was 53% but today that percentage has increased to 63%. Now only 37% of its population is living in rural areas, with only 5% of its GDP coming from the agricultural sector. Discussing all things decentralisation, digitalisation and democracy in Kazakhstan, Shayne MacLachlan from the OECD has a conversation with Zhanerke Kochiigit. This conversation took place at the 2025 OECD Latin American Rural Development Conference, Rural-Urban Connections: Pathways to Sustainable Development (https://www.oecd.org/en/events/2025/11/oecd-latin-american-rural-development-conference.html) in Rio de Janeiro, Brazil. Have a listen. Zhanerke Kochiigit is a researcher in Nazarbayev University, located in Astana, Kazakhstan. She works in the Graduate School of Public Policy and is dedicated to studying rural development in northern regions of Kazakhstan, where there is very low population density. Her recent papers include: "Analysis of Migration Processes and Recommendations on Regulation of Internal Migration from Southern to Northern Regions of Kazakhstan" https://www.researchgate.net/publication/345845312_Analysis_of_Migration_Processes_and_Recommendations_on_Regulation_of_Internal_Migration_from_Southern_to_Northern_Regions_of_Kazakhstan?_tp=eyJjb250ZXh0Ijp7ImZpcnN0UGFnZSI6InByb2ZpbGUiLCJwYWdlIjoicHJvZmlsZSJ9fQ and " Actual aspects of population migration from labor surplus to the labor-deficit regions of Kazakhstan and state regulation of migration processes" https://www.researchgate.net/publication/328552379_Actual_aspects_of_population_migration_from_labor_surplus_to_the_labor-deficit_regions_of_Kazakhstan_and_state_regulation_of_migration_processes. She previously worked at Eli Lilly and Company as a Product Manager. https://www.linkedin.com/in/zhanerke-kochiigit-7ab130b9/?originalSubdomain=kz **** To learn more, visit OECD Latin American Rural Development Conference https://www.oecd.org/en/events/2025/11/oecd-latin-american-rural-development-conference.html and the OECD's work on Rural Development https://www.oecd.org/en/topics/policy-issues/rural-development.html. Find out more on these topics by reading Reinforcing Rural Resilience https://www.oecd.org/en/publications/reinforcing-rural-resilience_7cd485e3-en.html and Rural Innovation Pathways https://www.oecd.org/en/publications/rural-innovation-pathways_c86de0f4-en.html. To learn more about the OECD, our global reach, and how to join us, go to www.oecd.org/about/ To keep up with latest at the OECD, visit www.oecd.org/ Get the latest OECD content delivered directly to your inbox! Subscribe to our newsletters: www.oecd.org/newsletters

2025年11月，特斯拉的股东投票通过了CEO马斯克的最新薪酬方案，如果实现了这份方案里的所有目标，马斯克在未来十年，可以获得累计1万亿美元的薪酬。这个数字不仅远超此前上市公司高管的薪酬纪录（此前这个纪录也属于马斯克），甚至可以在全球上市公司里排名前10。要拿到这笔钱，特斯拉届时的市值要达到8.5万亿美元，这个数字可以拍到全球GDP第三。比万亿美元更有趣的是，这个超乎想象的数字之所以被提出，是因为此前特斯拉给马斯克提供的一份薪酬，被法院否决了。于是特斯拉提出了一个更夸张的方案。| 主播 |肖文杰、约小亚| 时间轴 |02:31 这份方案之所以诞生，是因为上一份方案被否决04:07 12级台阶的“白金成就”08:27 EBITDA小课堂13:15 特拉华州的衡平法院可不一般17:15 “压倒性的影响力”22:27 谁支持，谁反对26:32 这份方案里比数字更反常的一个条款30:01 创始人CEO的悖论35:17 这份方案赌的只是特斯拉吗？| 延伸资料 |特斯拉董事会关于马斯克薪酬方案的公告https://ir.tesla.com/_flysystem/s3/sec/000093807625000017/fsbateslase-gen.pdf马斯克前后两份薪酬对比https://corpgov.law.harvard.edu/2025/09/29/the-trillion-dollar-man-comparing-musks-2018-pay-plan-to-his-latest-tesla-award/特拉华州衡平法院对2018版薪酬的判决https://law.justia.com/cases/delaware/court-of-chancery/2019/ca-2018-0408-jrs.html| 后期制作 |潘鑫| 声音设计 |刘三菜| 收听方式 |你可以通过小宇宙、苹果播客、Spotify、喜马拉雅、网易云音乐、QQ 音乐、荔枝、豆瓣等平台收听节目。| 认识我们 |微信公众号：第一财经 YiMagazine联系我们：thatisbiz@yicai.com

This is one of my favorite interviews of 2025. Jeff deGraaf, founder of Renaissance Macro Research, built his career translating technical analysis into actionable investment strategies for institutional clients. Hear about his market cycle clock—and why inflation matters more to stocks than GDP growth does.

Our Chief Asia Economist Chetan Ahya and Chief China Equity Strategist Laura Wang unpack Asia's broadening economic recovery and focus on China's path to market stability in 2026.Read more insights from Morgan Stanley.----- Transcript -----Laura Wang: Welcome to Thoughts on the Market. I'm Laura Wang, Morgan Stanley's Chief China Equity Strategist.Chetan Ahya: And I'm Chetan Ahya, Chief Asia Economist.Laura Wang: Today – our 2026 macro outlook for Asia with a particular focus on China's equity market.It's Wednesday, December 10th at 10am in Hong Kong.Chetan, as 2025 draws to a close; and if we try to remember what we were thinking about this time last year, I think, probably a lot of the market participants were expecting headwinds going into 2025 on the exports and trade front. But turns out that Asia's export growth is tracking at 8 percent this year so far. What's your explanation for this surprise?Chetan Ahya: Well, yes, Laura, you know, we were all concerned that there will potentially be tariffs, especially on China. And therefore, we were concerned that [the] regions' exports may be affected negatively. However, what has happened is that tech exports have driven the strength in the overall exports for the region. And that is all because of the story on AI and tech development that we have all been watching.But the good news is that non-tech exports will recover in 2026. In fact, that's the key call we are making – that from early next year, you will see that improvement in the U.S. domestic demand that helps Asia's exports. And at the same time, we are expecting that bulk of this tariff-related uncertainty would be behind us. And so those are the two factors we think will support this recovery in non-tech exports in 2026.Laura Wang: That's great. How significant is the shift in exports from tech to non-tech?Chetan Ahya: Well, we think that's very important for [the] regions' economic outlook. Because when you think about the tech exports recovery, it was helpful to keep [the] regions' overall exports growth strong, but it did not have the broader multiplier effect on the economy. So, for example, when you think about the tech exports, it tends to be more capital intensive, and we don't see much benefit on job growth.I think the best example I can give you is when you look at the Taiwan economic numbers. We've seen very strong GDP growth year-to-date. But at the same time, consumption numbers have been very weak. And so, non-tech exports recovery is very important for the broader economic recovery, and that is precisely what we expect in 2026. You will see that broadening out of growth with follow up in CapEx, job growth, and consumption recovery.Laura Wang: Your work suggests that Asia inflation will pick up modestly in 2026. What factors are behind this trend?Chetan Ahya: Well, as the non-tech exports recovery materializes, you should see improvement in capacity utilization across the board in the region. That should reduce the disinflationary pressures that we've been seeing year-to-date. And at the same time, we are expecting that the disinflationary pressures that the region was facing from China is also going to ease in 2026.Laura Wang: How will Asia central banks respond to keep inflation within their comfort zones? And what does this mean for monetary policy across the region in 2026?Chetan Ahya: Well actually, there's not much concern about keeping the inflation within the central bank's comfort zone because what we've seen year-to-date in Asia is that Inflation has been much lower than the central bank's target for a number of economies in the region. And they have been responding to this with more interest rate cuts.But going forward, as disinflationary pressure is reduced, we are expecting that the central banks in the region would end their rate cutting cycle. We should see just about one to two more rate cuts for some of the central banks. And then policy rates should remain largely stable through to the end of 2026.So, Laura, let me come to you now. So, 2025 was a very strong year for China markets. And you see 2026 as a ‘keep it steady' year rather than a breakout year. What does stability look like for investors and companies?Laura Wang: That's right, 2025 was a very good year for China equity market. We saw both MSCI China and Han Sang Index delivering more than 30 percent return in absolute terms. Going into 2026, we see it as a year for investors and for the market to preserve and protect what has been achieved in 2025 so far, but not with significantly much higher upside at this point. This is because the valuation re-reading we've seen so far in 2025 is already more than 30 percent, close to 40 percent.In [20]26, we think the valuation will largely stay at its current level, and further upside for the market will be more driven by solid earnings growth. For 2026, we see MSCI China's earnings growth year-on-year at around 6 percent.Chetan Ahya: So, with that backdrop, Laura, do you expect more inflows into the market next year?Laura Wang: Absolutely. Actually, we have already talked to so many investors on a global basis, and we are seeing much higher level of interest in investing in Chinese equities, particularly in some R&D and innovation heavy sectors.That being said, what we are seeing also is relatively light positioning by global investors in Chinese equities – actually across the board, still a quite sizable underweight, which means there will be much higher room for them to increase their allocation gradually in 2026 back to China.Chetan Ahya: And with the U.S.-China tensions easing a bit, and China doubling down on AI and smart manufacturing, where do you see the real-world opportunities from that?Laura Wang: There will be a lot of opportunities inside Chinese equity market, but we do want to stay with the names that will be delivering very solid earnings growth in the next few years. And we also want to highlight the next five years growth strategy laid out by Chinese policy makers.We want to make sure that we focus on the sectors that are very well aligned with the national growth strategy with a strong focus in R&D and innovation – and that would include AI as well as smart manufacturing, automation, robotics, and biotech. We also have collected very high level of interest from global investors in these sectors.At the same time, as we start to see less deflation pressure in 2026, but still with it potentially persisting into 2027, we want investors to still hold on to some exposure to high quality dividend plays. The steady cash returns from these stocks will help you navigate through some volatilities in the market in next year.Chetan Ahya: So, you expect global investors returning, mainland investors shifting money from savings into stocks, and strong cross-border trading within Hong Kong. What does that mean for market behavior and thematic opportunities?Laura Wang: One very positive development we have observed in 2025 is the strong capital market activities in Hong Kong. Hong Kong at single stock exchange basis actually is the most active IPO market in the world in 2025, and with policy support for Hong Kong to continue as a global financial hub, we expect this trend to continue. So, we are seeing more and more capital market activities happening in Hong Kong and mainland China in the next year. And in terms of thematic opportunities, I already mentioned that opportunities align with the national growth strategy with very heavy innovation and R&D focus. Along these opportunities, we're also heavy recommending investors to focus on thematic opportunities such as anti-evolution, as well as corporate governance reform.That summarizes our New Year outlook for Asia economy as well as China equity market. Chetan, thanks so much for taking the time to talk to me.Chetan Ahya: Great speaking with you, Laura.Laura Wang: 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.

Post-FOMC Meeting Market Reaction and Economic Outlook - December 10, 2023 In this episode of Dividend Cafe, Brian Szytel from The Bahnsen Group in Newport Beach discusses the market's reactions to the Federal Reserve's recent actions. On December 10th, 2023, the Federal Reserve concluded its FOMC meeting, cutting rates by 25 basis points and adding to its balance sheet, which boosted both the stock and bond markets. The Dow closed up 497 points, with the S&P and Nasdaq also showing gains. Szytel explains the significance of the steepening yield curve, which signals positive economic growth, and reviews the Federal Reserve's future interest rate expectations, unemployment, inflation, and GDP projections. The episode also addresses an op-ed by Muhammad Al Arian regarding the restructuring of The Fed. Overall, the episode provides an optimistic outlook on short-term risk assets and the economy. 00:00 Welcome to Dividend Cafe 00:16 Federal Reserve Meeting Insights 00:48 Market Reactions and Performance 01:25 Understanding Yield Curves 03:28 Economic Projections and Fed Actions 04:30 Op-Ed Discussion and Final Thoughts 05:17 Conclusion and Upcoming Topics Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com

Employee Engagement on the Brink In 2024, the globalpercentage of engaged employees fell from 23% to 21%. Engagement has only losttwice in the past 12 years, in 2020 and 2024. Last year's two-point drop inengagement was equal to the decline during the year of COVID-19 lockdowns andshelter-in-place orders.  According to the latest State of the GlobalWorkplace 2025 report, released by Gallup. $9.6 trillion in productivity could be added to theeconomy if the global workforce were fully engaged.That would represent a 9% increase in global GDP. But ifleaders seize the moment, a productivity opportunity awaits. In fact, someorganizations are already enjoying the benefits of a highly engaged workforce.Manager engagement is the key to reversing declining productivity, improvingemployee well-being, and unlocking trillions in economic potential.As Founder of HEARTnomics, Hanna Bauer equips top teams with actionablestrategies to build cultures of resilience and clarity. She is among just 20global Faculty Members for Maxwell Leadership, travelling internationally totrain executive teams in leadership that connects people and performance.Hanna's career includes being a former CEO who led her company toGovernor-recognized success, as well as blazing a trail as the first woman to chairthe Board of Ser Familia.Her work resonates with thousands of leaders andprofessionals online, but Hanna's approach remains incredibly genuine anddown-to-earth. Her speaking style is engaging, relatable, and deeply rooted inpersonal experience and decades of cross-industry leadership.Implementation ExcellenceIt's about having the solutions and knowing how tointegrate the right solutions successfully. Executed with love, you can learnhow excellence becomes vital for delivering quality services that fostercustomer retention and acquisition. She joined me thisweek to tell me more. For more information: https://heartnomics.com/Follow: @HannaBauer

In this episode of the Dental Boardroom Podcast, host Wes Read, CPA and financial advisor at Practice CFO, is joined by Brandon Hobson and Paul for their quarterly deep dive into the stock market, global economy, and what dentists and practice owners should prepare for as 2026 approaches.The episode covers:The Federal Reserve's rate movements and expected leadership changeWhether the current AI wave is a bubble or a true productivity revolutionThe future relevance of the traditional 60/40 investment strategyHow economic shifts impact dentists' borrowing, practice finances, and patient spendingPractice CFO's investment outlook and positioning for 2026A must-listen for dental entrepreneurs and investors navigating today's unpredictable financial landscape.Key Topics & Takeaways1. Federal Reserve Update & Interest RatesCurrent Fed Funds Rate: 3.75%–4%, with another 0.25% cut expected soon.Kevin Hassett is the likely replacement for Jerome Powell in 2026 potentially a more politically influenced choice.Concerns about Fed independence rising due to political pressure.Rate cuts stimulate borrowing but risk inflation if overdone.Importance for dentists:Affects practice loans, buildouts, refinancing, and equipment financing.Impacts patient discretionary spending, especially in cosmetic dentistry.2. Stagflation Risk?Inflation appears stable around the mid-2% range.Unemployment creeping toward 4%.Risk emerges if inflation rises while unemployment increases = “stagflation.”Not yet alarming, but the rate of change is what matters.3. GDP & Economic StrengthU.S. GDP last reading (Q2): 3.8%, stronger than expected.Global GDP remains surprisingly strong despite trade tensions.Q3 & Q4 readings delayed due to government shutdown but expected to stay positive.4. AI: Bubble or Breakthrough?Big tech's AI infrastructure spend expected to hit $3 trillion by 2028.53% of investors believe we are in an AI bubble.OpenAI & NVIDIA valuations are 30–40× revenue, compared to Walmart at 1.3×.MIT study: 95% of companies currently see no ROI from AI.Major concerns:Revenue lag vs. massive AI investmentCircular funding structures (promising investments without cash to fulfill them)Big tech taking on debt to fund AI (Meta's off-balance-sheet financing)Parallel drawn to the dot-com era huge innovation + huge speculative hype.5. What About the Magnificent Seven?High valuations and interconnected dependence create contagion risk.NVIDIA's unusually high profit margins may attract new competition.Some tech (like Google, Meta) still offers strong fundamentals & cash flow.But investors should avoid blindly overweighting tech indexes.6. Is the Classic 60/40 Portfolio Back?After years of underperformance, value stocks and quality companies are regaining momentum.PracticeCFO's positioning:Lower tech exposure (15–18% vs. S&P 35–40%)Higher weight in value, quality, and cash-flow-focused companies20–40% international stocks for diversificationAI benefits will extend to all sectors consumer staples may monetize AI faster and cheaper than...

A round-up of the main headlines in Sweden on December 10th 2025. You can hear more reports on our homepage www.radiosweden.se, or in the app Sveriges Radio. Presenter/Producer: Kris Boswell

In this episode of SoundPractice, host Mike Sacopulos explores the critical skill of strategic thinking with Michael Gardner, MD, vice president and administrator of Women's and Children's Hospital at University Health in San Antonio, Texas. Gardner shares his extensive journey through physician leadership and breaks down why strategic thinking is essential for physicians who want to shape the future of healthcare. Michael Gardner is board certified in obstetrics and gynecology as well as maternal fetal medicine. He is a certified physician executive (CPE) and in 2025 became a fellow of the American Association for Physician Leadership. Why strategic thinking matters for physicians: Physicians bring a unique perspective that is essential for improving American healthcare. With healthcare consuming roughly 20% of GDP and outcomes that lag behind other developed nations, physician leaders must actively participate in strategic decision-making rather than exclude themselves from these conversations. Strategic vs. clinical thinking: While clinical thinking focuses on immediate patient care with narrow attention to detail, strategic thinking requires a broader view of internal and external environments, long-term organizational goals, and the ability to embrace foresight and ambiguity. The key difference lies in scope and timeline — strategic thinking means planning months and years ahead. Strategic thinking can be learned: Though some physicians may naturally gravitate toward systems-level thinking, strategic thinking is a skill that can be developed through mentorship, education, practice, and progressive leadership experiences. Starting with smaller leadership roles and building confidence prepares physicians for larger strategic challenges. Physician leaders as translators: Successful physician leaders must learn to speak both clinical and business languages. While they don't need to match their CFO's financial expertise or their COO's operational knowledge, they must understand enough to communicate effectively with administrative colleagues and translate strategic concepts back to medical staff. Gardner and his colleague Mark Guadagnoli, PhD, are developing a strategic thinking and planning course series for AAPL, including: - An online strategic thinking course - "The Who, What, Where, and When of Strategic Planning" course - A hybrid strategic planning workshop in 2026 where participants will create actual strategic plans with ongoing guidance and feedback. Learn more about the American Association for Physician Leadership at www.physicianleaders.org

Small businesses continue to experience stable job and hourly wage growth, according to the Paychex Small Business Employment Watch. Gene Marks says this is good news considering that small businesses contribute half of this country's GDP. Gene also shares details about how tariffs are reportedly starting to impact businesses decisions regarding headcount, especially in manufacturing that is expecting to do layoffs in 2026. Cyber Monday Sales rose 7.1% year over year, but Gene warns that many of these sales were done on buy-now, pay-later plans, which have strict policies. Listen to the podcast. Additional Resources Meet Paychex: https://bit.ly/3VtM6bs Top Regulatory Issues webinar: https://bit.ly/2026-top-regs-webinar DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

LISTEN and SUBSCRIBE on:Apple Podcasts: https://podcasts.apple.com/us/podcast/watchdog-on-wall-street-with-chris-markowski/id570687608 Spotify: https://open.spotify.com/show/2PtgPvJvqc2gkpGIkNMR5i WATCH and SUBSCRIBE on:https://www.youtube.com/@WatchdogOnWallstreet/featured  Trump just released a 33-page national security strategy — and the media is counting on you not to read it. Instead, they're cherry-picking, rage-baiting, and calling it “radical.” But if you actually open the document, the worldview Trump lays out is practical and brutally honest about the Western Hemisphere, Europe, Russia, and America's limits.In this episode, we break down: • Why the buildup around Colombia and Venezuela has nothing to do with “narco-trafficking” • How control of the world's largest oil reserves shapes U.S. behavior — no matter who's president • Why Trump is challenging Europe and pushing NATO to grow up • How European decline — from demographics to GDP to identity — is driving their political panic • Why Europe quietly agrees with Trump more than the media wants to admit • Why stabilizing Ukraine quickly is now a core U.S. interestAnd how Trump's business-minded foreign policy contrasts with the neocon approach of endless war!

問：2025年國家安全策略（NSS）認為過去美國的國安政策犯了哪些錯誤？ 答：該報告指出過去策略有三大錯誤：一是目標不明確，導致方向迷失；二是為了維持國際秩序，美國承擔了不成比例的巨大代價；三是過度相信全球主義（Globalism），導致資源被濫用 。問：新版NSS提出的三大核心目標是什麼？ 答：策略的三大方向為：第一，「透過力量獲得和平」（Peace Through Strength），特別是經濟力量；第二，預設「不幹預」（Non-intervention）立場，減少對外事務介入；第三，所有政策以「美國利益優先」，特別著重經濟利益 。問：美國政府計劃如何具體執行這些國家安全目標？ 答：具體執行措施包括：結束大規模移民年代以保障邊境安全；要求盟友（如北約、日韓澳）將國防預算提升至GDP的5%並分擔成本；以及推動美國再工業化，透過稅務優惠或補貼吸引製造業迴流 。問：2025年NSS與2022年拜登政府的策略在對待競爭對手上以何區別？答：2022年策略以「價值觀」區分世界（民主 vs. 獨裁）；而2025年策略則轉向「現實主義」，以「利益」為依歸。新策略不再強調改變對手體制，視中國為主要威脅，但在俄羅斯問題上傾向透過妥協換取穩定，並願與任何利益一致的國家合作 。地緣政治與價值觀轉變問：新策略下的地緣政治優先順序為何？ 答：首要處理的是拉丁美洲（因鄰近且影響美國治安）；其次是印太地區（涉及核心經濟與科技利益）；對於較遠的歐洲、中東或非洲，則傾向由當地盟友自行處理，美國減少直接介入 。問：這份報告對於推廣民主自由等價值觀持什麼態度？ 答：報告採取現實主義立場，表明美國將不再致力於在海外宣揚民主自由價值，也不會再尋求「政權更迭」（Regime Change）。美國將專注於自身制度的優越性，而不嘗試改變其他國家的統治模式 。 This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit leesimon.substack.com/subscribe

This week, Paul and Goldy look back at the most notable economics books of the year. They discuss Ezra Klein and David Thompson's Abundance, Cory Doctorow's blistering Enshittification, Thomas Piketty's new works on inequality, Diane Coyle's fresh take on GDP, and the overlooked history behind the Garland Fund. Whether you're hunting for a holiday gift for the wonk in the family or looking to understand the ideas driving today's political economy, this episode is full of must-reads.  Must-Read Economics Books 2025 Abundance by Ezra Klein and David Thompson Enshittification: Why Everything Suddenly Got Worse and What to Do About It by Cory Doctorow Equality Is a Struggle by Thomas Piketty Nature, Culture, and Inequality by Thomas Piketty Equality: What It Means and Why It Matters by Thomas Piketty and Michael J. Sandel The Measure of Progress: Counting What Really Matters by Diane Coyle The Radical Fund: How a Band of Visionaries and a Million Dollars Upended America by John Fabian Witt Honorable Mention Ricardo's Dream: How Economists Forgot the Real World and Led Us Astray By Nat Dyer  Why Information Grows: The Evolution of Order, from Atoms to Economies by Cesar Hidalgo  Coming Up Short: A Memoir of My America by Robert Reisch  Mood Machine: The Rise of Spotify and the Costs of the Perfect Playlist Liz Pelly  Other Books Mentioned in Episode Homelessness is a Housing Problem by Greg Colburn & Clayton Page Aldern Why Nothing Works: Who Killed Progress--And How to Bring It Back by Marc Dunkelman Capital in the 21st Century by Thomas Piketty The Gardens of Democracy: A New American Story of Citizenship, the Economy, and the Role of Government by Nick Hanauer & Eric Liu  Communist Manifesto by Karl Marx  Website: http://pitchforkeconomics.com Facebook: Pitchfork Economics Podcast Bluesky: @pitchforkeconomics.bsky.social Instagram: @pitchforkeconomics Threads: pitchforkeconomics TikTok: @pitchfork_econ YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Twitter: @PitchforkEcon, @NickHanauer Substack: ⁠The Pitch⁠

Around the world, people feel poorer, even when the numbers say we've never been richer. In Ireland, GDP is soaring, household wealth has more than doubled since 2014, and yet most families are pinned to their collar. Why? Because the official poverty line is €33,600, but it now takes at least €52,000 a year just to stay afloat. That's a 40% gap between what's measured and what's felt. Rent has passed €2,000 a month, groceries are up 16% in a year, childcare can cost over €1,000 monthly, and still we're told the economy is “booming.” Inspired by Michael Green's viral Substack and Kyla Scanlon's “vibecession,” we unpack the growing chasm between income and cost, and how it's fuelling backlash, burnout, and political blowback from New York to Newbridge. Hosted on Acast. See acast.com/privacy for more information.

On November 30, six million Hondurans voted in their presidential election. One week later, the outcome of the election has not yet been announced due to credible allegations of fraud and illegal interference by the Trump administration, which includes threats of ending remittances from the United States that account for 25% of Hondura's GDP. Clearing the FOG speaks with Camila Escalante of Press TV and a founder of Kawsachun News who has covered Latin America for nearly ten years. Escalante provides background to the current political crisis and explains what is known so far about the election. She describes similarities to the 2019 coup in Bolivia. For more information, visit PopularResistance.org.

Strap in, patriots—@intheMatrixxx and @shadygrooove obliterate Season 7, Episode 233, “Trump Owns Politico Interview; DHS Drops 821 Pages of Criminal Deportee Rap Sheets,” LIVE December 9, 2025, at 12:05 PM Eastern. Jeff and Shannon break down Trump's total domination of Politico's Dasha Burns—torching Europe's migration collapse, Ukraine reality, NATO freeloaders, and his vow to stop WW3—plus the 2:45 AM post calling “Hussein” Obama an “evil loser” that lit X on fire. Then the hammer drops: DHS wow.dhs.gov unleashes 821 pages of deported criminals' rap sheets (murder, rape, child abuse), exposing fake-news tears. Macro truth: $18T investment surge, 3.8% GDP growth. Healthcare: kill Obamacare's insurance scam. Final KO—Kash Patel's FBI spikes 764 Network child-predator arrests 500%. The truth is learned, never told—the Constitution is your weapon. Watch the live video version: https://rumble.com/mgshow All links: https://linktr.ee/mgshow Support: https://mg.show/support Merch: https://merch.mg.show MyPillow code MGSHOW: https://mypillow.com/mgshow #Trump #Politico #DHS #CriminalDeportations #821Pages #ObamaLoser #764Network #KashPatel #AmericaFirst #MGShow

Seattle's creative economy drives 18% of city GDP but artists can't afford to live here. Randy Engstrom, co-leading Mayor-Elect Wilson's arts transition team, argues culture must be central to solving housing, education, and economic challenges - not treated as expendable when budgets get tight. As always, a full text transcript of the show is available at officialhacksandwonks.com. Follow us on Bluesky at @HacksAndWonks. Find the host, Crystal Fincher, on Bluesky at @finchfrii and find Randy Engstrom on LinkedIn at linkedin.com/in/randyengstrom/.  

Dr. Jerome Corsi delivers a sweeping geopolitical and economic analysis as global power structures shift, the Ukraine war grinds toward an unresolved endgame, Europe edges toward civilizational crisis, U.S. cities descend into disorder, and gold and silver surge to historic levels.Dr. Corsi explains why European leaders are resisting peace efforts in Ukraine despite mounting battlefield losses, and why he believes the war cannot end without catastrophic consequences unless Western funding is cut off. He warns that continued escalation risks dragging Europe into deeper economic collapse while accelerating the dismantling of NATO's relevance. 

It has been revealed a major RMA overhaul with two new laws replacing the Resource Management Act; a Natural Environment law and a Planning law. The planning bill would lay out what infrastructure is needed and when, with land secured for key things like roads, schools, and utilities. The changes could boost GDP by more than $3 billion a year. The Minister responsible for RMA, Chris Bishop spoke to Lisa Owen.

But we've gone from being in the top seven, to 36th in GDP ranking, with countries like Czech Republic, Lithuania and Slovenia surpassing us. So what does this mean in reality? Do we need to adjust our thinking on where we actually sit in the world? Dr Greg Clydesdale is an author who has written several books on this subject, including 'Waves of Prosperity'.

⬜ Welcome to Palvatar Market Recap, your go-to daily briefing on the latest market movements, global macro shifts, and crypto trends—powered by Raoul Pal's AI avatar, Palvatar ⬜ In today's update, Palvatar highlights a pivotal week ahead as markets brace for a widely expected Fed rate cut, though economists anticipate an unusually contentious meeting. Global data surprised, with Germany's industrial production jumping and China's trade surplus surpassing $1 trillion, while Japan posted a sharp GDP contraction. Crypto markets surged, bitcoin reclaimed $92,000, and Binance secured approval to relocate its headquarters to Abu Dhabi.

In today's episode, the Chicks sit down with Bulwark Capital's Zach Abraham to break down a viral interview with Federal Reserve Governor about Trump's plan for mass deportations and what it could mean for inflation, GDP, housing, and the long-term U.S. economy. Zach explains why removing millions of Biden-era illegal immigrants could create disinflation, reduce crime […]

Erik Weir, author of Who's Eating Your Pie?: Essential Financial Advice that Will Transform Your Life, joins The Steve Gruber Show for a timely discussion about America's economic outlook heading into the holidays. With some analysts, like Bessent, projecting roughly 3% GDP growth by year's end, Erik breaks down what those numbers could mean for everyday Americans, from holiday spending to long-term financial stability.

The Treasury Secretary is saying he predicts a 3% GDP for the year and a strong holiday season. Think he's right?

由一口都不想浪費的【味味一品】贊助播出！忙碌一天後，來碗熱騰騰的泡麵，湯暖胃，麵入味，瞬間忘卻加班的疲勞，療癒你的是那熟悉的溫暖感。味味一品，讓你每一次的疲憊都能得到舒緩。全台各大通路熱賣中！ https://fstry.pse.is/8f7uwc —— 以上為 Firstory Podcast 廣告 —— 由一口都不想浪費的【味味一品】贊助播出！忙碌一天後，來碗熱騰騰的泡麵，湯暖胃，麵入味，瞬間忘卻加班的疲勞，療癒你的是那熟悉的溫暖感。味味一品，讓你每一次的疲憊都能得到舒緩。全台各大通路熱賣中！ https://fstry.pse.is/8f7ulm —— 以上為 Firstory Podcast 廣告 —— **2025年，全球經濟在美國降息與AI狂潮的交織下加速前行，台灣更站在這波浪潮的風口浪尖。今天我們特別專訪台新金控首席經濟學家李鎮宇博士。面對詭譎的地緣政治與川普2.0變局，台新投顧近期逆勢喊出2025年台灣GDP成長率將挑戰7.23%的超樂觀預測，遠超官方預期。究竟這股由美系科技巨頭資本支出引爆的動力，是台灣經濟的超級強心針，還是資產泡沫的前奏？當科技業獨領風騷，傳統產業與庶民經濟又該何去何從？讓我們透過李博士的精準眼光，一同拆解從AI榮景到2026年潛在危機的經濟真相。 **「2026 台新投資展望論壇」，台新新光金控首席經濟學家李鎮宇回顧 2025 年經濟學家普遍的預測失準現象，就是犯了二大錯誤：誤判川普與低估 AI，若不矯正思維，2026 年仍會重蹈覆轍。李鎮宇更大膽預測，在美國總統川普主導下，聯準會將啟動「鷹式降息」(快速、大幅度)，預計從現在到明年底至少降息 6 碼以上，美國也將進入「三低經濟」情境，分別為低利率、低賦稅、低監管。 #寶島聯播網 #鄭弘儀 #寶島全世界 #李鎮宇 #台新新光金控 #TPU #GPU #Google #輝達 #TSMC #台積電 #AI #ai泡沫 加入會員，支持節目： https://clw4248xv113d01wg7s4h2xnq.firstory.io/join 留言告訴我你對這一集的想法： https://open.firstory.me/user/clw4248xv113d01wg7s4h2xnq/comments Powered by Firstory Hosting

Welcome back to another episode of Upside at the EUVC Podcast, where ⁠Dan Bowyer⁠,⁠ Mads Jensen⁠ of ⁠SuperSeed⁠, ⁠Lomax Ward⁠ of ⁠Outsized Ventures⁠⁠⁠, and Andrew Scott of 7percent Ventures to break down the real stories behind the headlines shaping European tech and venture.From Bending Spoons' audacious European rollup strategy, to Brexit's economic hangover, to the existential challenges facing Volkswagen, to Google vs. OpenAI's new “Code Red”, and finally whether Europe has had its long-overdue shock moment — this episode goes wide, fast, and deep.This is Upside, where the takes are sharp, the macro is messy, and the optimism is… conditional.What's covered:02:00 The valuation reset, debt-fuelled M&A, and the Italian PE–VC hybrid model04:00 Arbitrage: firing US teams, rehiring elite Italian engineers06:00 Do rollups really work? Tech debt, distribution, and execution risk07:00 Brexit revisited: GDP losses, trade collapse, and political reality08:00 The myth of “you can't know the counterfactual” — and why you actually can10:00 Will the UK rejoin the customs union? And would Europe even take us back?12:00 Europe's manufacturing crisis: Porsche, Volkswagen, BYD and the end of German exceptionalism15:00 China's shift: stop importing, start replicating17:00 Welfare-state complacency and the European stagnation problem20:00 The bitter truth about Europe's carbon “success story”22:00 How to actually fix European tech: R&D, immigration, procurement, capital markets24:00 Why 0.02% pension allocation to VC is Europe's biggest structural handicap26:00 Should we “Farage-pill” Europe into a tech-first agenda?33:00 Distribution vs. loyalty: why consumers don't care about brand36:00 Who wins the cost base war: Google, Amazon, Meta, or OpenAI?38:00 Anthropic's IPO plans and what they signal about the private capital cycle42:00 Deals of the Week: Black Forest Labs, ICEYE, Expedition Growth Capital44:00 Robotics is the next AI wave — and the picks-and-shovels startups emerging now

Episode 296 is a first for The Business Development Podcast – we finally dive deep into Canada's French-speaking community and what most business leaders are missing. Kelly sits down with bilingual consultant Colin Fagnan, founder of Nyloc Consulting (and now Executive Director of the Fort Saskatchewan & Lamont County Regional Chamber of Commerce), to unpack how growing up Francophone in Alberta shaped his worldview, why French is actually on the rise in Western Canada, and how bilingualism boosts learning, creativity, and problem-solving in business. Colin shares his own story of moving between countries and cultures, and why he believes language is a strategic asset, not just a personal skill.From there, the conversation shifts into hard business reality: the sheer GDP locked inside Francophone markets, how tourism and immigration are changing Alberta's economic landscape, and why so many companies hit an invisible wall when dealing with Quebec or French-speaking clients. Colin breaks down where the real opportunities are, how immersion education has quietly transformed the next generation, and what leaders can do right now to better serve French speakers at home and abroad. If you've ever thought “French is only for back East,” this episode will challenge that belief and show you a very real growth path hiding in plain sight.Key Takeaways: 1. The Francophone community in Canada is not just cultural it is a massive, under-served economic market that most businesses simply ignore.2. Bilingualism is a competitive advantage because it helps you build trust faster with customers partners and communities who rarely feel truly seen.3. Language is not just translation it is context nuance and relationship and if you get that wrong you will lose deals you never see.4. Western Canada massively underestimates how many French speakers live work and travel here which means the businesses who serve them well can stand out quickly.5. Immersion and bilingual education are quietly creating a new generation of leaders who think globally and move comfortably between markets and cultures.6. Companies that want to do business in Quebec or with Francophone clients need to show real respect for the language and culture not just slap French on a brochure.7. Tourism and immigration are reshaping local economies and the businesses that prepare to serve visitors and newcomers in both languages will win first.8. If you do not have internal bilingual capacity yet you can start small by partnering with translators consultants or community leaders who understand the space.9. Treat French speaking customers like a primary market not a side note and you will uncover long term loyalty repeat business and powerful word of mouth.10. The real opportunity is not just learning French it is deciding that language inclusion can be part of your business development strategy and then taking action on it.The Catalyst Club is my private community for founders and business development leaders who want real support, real strategy and real momentum together. Join us here:https://www.kellykennedyofficial.com/thecatalystclubCompanies mentioned in this episode: Fort Saskatchewan and Lamont County Regional Chamber of Commerce Capital Business Development NYLOC Consulting CDEA Conseil de Développement Économique de l'Alberta Parallèle Alberta National Bank Financial

In today's episode, the Chicks sit down with Bulwark Capital's Zach Abraham to break down a viral interview with Federal Reserve Governor about Trump's plan for mass deportations and what it could mean for inflation, GDP, housing, and the long-term U.S. economy. Zach explains why removing millions of Biden-era illegal immigrants could create disinflation, reduce crime and government spending, and finally ease the pressure on the housing market. They also dig into the constitutional power of the executive branch, why the Fed has failed for decades, and how unchecked immigration fuels chaos at every level. Plus: Soros networks, globalism, sovereignty, assimilation, and raising “dragon killers” in a world gone mad.Get back to basics with Bulwark's Know Your Risk Portfolio Review—don't put it off, go to KnowYourRiskPodcast.com today.Subscribe and stay tuned for new episodes every weekday!Follow us here for more daily clips, updates, and commentary:YoutubeFacebookInstagramTikTokXLocalsMore Info

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

If you think America's schools fell into decline solely as a consequence of 2020's pandemic and a year of alternate instruction models, guess again. Eric Hanushek, the Hoover Institution's Paul and Jean Hanna Senior Fellow and a leading scholar on the economics of education, discusses misperceptions in the Covid-education debate (learning and achievement were in decline years before the pandemic struck), why education reform remains elusive despite decades of talk and treasure, a few sleeper concerns (long-term absenteeism), lessons to be learned from learning and teaching innovations in Dallas and Mississippi, plus the future impact of learning loss on earning power and America's GDP.

-The Minnesota corruption saga grows so large it might qualify as its own GDP, and Rob gleefully predicts the political downfall of Walz, Ellison, and possibly Ilhan Omar. -Kaitlin Bennett joins on the Newsmax hotline, recounting her campus adventures where college students flee debates faster than they flee Thanksgiving history lessons. Today's podcast is sponsored by : BIRCH GOLD - Protect and grow your retirement savings with gold. Text ROB to 98 98 98 for your FREE information kit!WEBROOT : Live a better digital life with Webroot Total Protection. Rob Carson Show listeners get 60% off at http://webroot.com/Newsmax  To call in and speak with Rob Carson live on the show, dial 1-800-922-6680 between the hours of 12 Noon and 3:00 pm Eastern Time Monday through Friday…E-mail Rob Carson at : RobCarsonShow@gmail.com Musical parodies provided by Jim Gossett (http://patreon.com/JimGossettComedy) Listen to Newsmax LIVE and see our entire podcast lineup at http://Newsmax.com/Listen Make the switch to NEWSMAX today! Get your 15 day free trial of NEWSMAX+ at http://NewsmaxPlus.com Looking for NEWSMAX caps, tees, mugs & more? Check out the Newsmax merchandise shop at : http://nws.mx/shop Follow NEWSMAX on Social Media:  -Facebook: http://nws.mx/FB  -X/Twitter: http://nws.mx/twitter -Instagram: http://nws.mx/IG -YouTube: https://youtube.com/NewsmaxTV -Rumble: https://rumble.com/c/NewsmaxTV -TRUTH Social: https://truthsocial.com/@NEWSMAX -GETTR: https://gettr.com/user/newsmax -Threads: http://threads.net/@NEWSMAX  -Telegram: http://t.me/newsmax  -BlueSky: https://bsky.app/profile/newsmax.com -Parler: http://app.parler.com/newsmax Learn more about your ad choices. Visit megaphone.fm/adchoices