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Group 1 - The core concern is that inflation in the U.S. may spiral out of control, exceeding the Federal Reserve's ability to manage it [1][2] - The stock market is currently overvalued, indicating a potential crash back to reality [2] - The M2 money supply has surged by $3.5 trillion over the past five years, which is a critical indicator for inflation outlook [2][3] Group 2 - The Federal Reserve has initiated a rate-cutting cycle, which may lead to an acceleration in inflation despite not fully controlling it [2][3] - The end of quantitative tightening by the Federal Reserve is expected to loosen financial conditions, potentially increasing inflationary pressures [3] - Relaxation of credit rules in early next year will enhance banks' ability to expand the money supply, further exacerbating inflation [3] Group 3 - Increased issuance of short-term government bonds by the U.S. Treasury to finance deficits will also contribute to rising money supply and inflation [3] - The technology sector, particularly driven by the AI boom, is facing significant overvaluation risks, with warnings of a potential market correction [4] - Historical parallels are drawn to the internet bubble, suggesting that AI companies may face similar challenges if growth expectations are not met [4]