Inflation Trends - Inflation has continued to cool, with World Economy Weighted Inflation decreasing from 4.4% to 3.3% in 2025, aided by low supply chain pressures and moderated wage growth [1][4] - The setup for an inflationary spike similar to 2021/22 is not present, as global money growth is rising but velocity is falling [2] Economic Conditions - Inflation in the 2-4% range is favorable for equities, providing companies with pricing power and top-line growth, but concerns arise when inflation approaches 4% [3] - The U.S. faces higher inflation risks due to aggressive fiscal spending, erosion of central bank independence, and a positive output gap, while other countries like Germany, Japan, France, and Canada have negative gaps [4][5] Long-term Inflation Outlook - Inflation has eroded purchasing power by over 20% in the past four years, and while portfolio returns have kept pace, long-term inflation is expected to be higher and more volatile than in the 2010s [6] - Secular factors are becoming more inflationary, with globalization trends shifting from disinflationary to inflationary due to tariffs and supply chain diversification [7] Policy and Debt Implications - Erosion of central bank independence poses risks for monetary policy effectiveness, particularly in the U.S. and some developing countries, while fiscal spending is rising globally, which may increase inflation [8] - Total debt is disinflationary as it crowds out investment, and significant levels of debt exist in the economy [9] Technological Impact - Technology that enhances productivity is generally disinflationary, but current capital expenditures on AI infrastructure are inflationary, contributing to inflationary cyclicality [10] Investment Strategies - To mitigate the risks of higher and more volatile inflation, equities, especially those with dividend growth, are recommended as a defense, along with real asset exposure [11]

Event Overview - Bloomberg House roundtables at WEF26 bring together influential leaders for candid conversations [1] - Discussions focus on shaping business, finance, and policy [1] Participation - Curated groups participate in forward-looking discussions [1]

AI Policy & Strategy - The US government lacks a coherent AI strategy regarding China, oscillating between restricting and allowing chip exports, creating uncertainty [3][4] - The absence of a clear AI strategy raises concerns about the US's preparedness for the future development of AI [11] - There's a perceived lack of accountability regarding AI policy, with concerns about conflicts of interest in the government's AI leadership [19][20][21] US-China AI Competition - Nvidia has been granted permission to sell advanced chips to China, potentially narrowing the AI gap between the two countries [1] - National security concerns exist regarding China's advancement in AI, potentially conflicting with the desire to benefit American companies like Nvidia [5] Economic & Social Impact of AI - AI development is leading to a rapid concentration of wealth, potentially exacerbating existing inequalities [16] - Concerns exist about job displacement due to AI and the potential risks of super intelligence and autonomous weapons [14] - The American public is tense about the implications of AI and questions the overall strategy [11] Political Influence & Policy Making - There are suggestions that political influence and personal enrichment may be driving AI policy decisions [7][9] - Some political figures are raising concerns about surveillance, job displacement, and the need for thoughtful AI development [17][18]

Political Stance & Defiance - Indiana Republicans rejected a Trump-backed effort to rig the state's congressional map, with 21 Republicans crossing party lines [1] - The rejection followed a month-long pressure campaign from the White House, including threats of primary challenges and violent threats [2] - The Indiana Republicans' stance is seen as a message that such tactics won't work, potentially impacting other states [12][13] Policy & Principles - The Indiana State Senator emphasized the importance of traditional Republican values and policies that make sense for the long term, not just transactional policies [4] - The vote was not just a mere policy debate but a hugely consequential decision with ripple effects [11] - Bad policy stays forever, highlighting the long-term impact of legislative decisions [9] Political Consequences & Courage - There were threats of political consequences from the White House, including potential primary challenges backed by significant funding (2-3 million dollars) [6][7] - Despite the threats, some Republicans prioritized their principles and the will of their constituents over their seats [4][8] - One senator highlighted that money is not everything, emphasizing the importance of work ethic, policy, and listening to constituents [18]

Core Insights - The macroeconomic environment entering 2026 is unprecedented, suggesting significant changes in market dynamics [1] Group 1: Economic Analysis - James Foord, an economist with a decade of experience, leads The Pragmatic Investor, focusing on building diversified portfolios to preserve and increase wealth [2] - The Pragmatic Investor covers various sectors including global macro, international equities, commodities, technology, and cryptocurrencies, aiming to guide investors at all levels [2] Group 2: Investment Features - The Pragmatic Investor offers a portfolio, weekly market updates, actionable trades, technical analysis, and a chat room for investor engagement [2]

Social Media Engagement - Tesla community is urged to actively engage on LinkedIn to influence regulators [1] - The goal is to amplify Tesla's message on LinkedIn, a platform favored by regulators for external communications [1] - The call to action emphasizes maintaining a positive tone while advocating for Tesla [1] Regulatory Influence - Tesla is focusing on LinkedIn as a key platform for communicating with regulators [1] - The strategy involves leveraging the Tesla community to make an impact on regulatory discussions [1]

🇺🇸 POLICY: U.S. FDIC Chief Says First GENIUS Act Regulations Heading for Proposal This Month.@jesseahamilton reports:https://t.co/uL02huOyzd ...

RT Zatoichi🌊 (@Zatoichi42)Op_ Return and inscriptions are two distinctly separate issues and must be treated as such.Everything has its proper time.Priority one is to restore sane control of op_return. This should be addressed separately. The strategy and tactics of that battle can be kept clear and coherent only if it's not mocked up with unnecessary distractions.There are a few outcomes and a possibility of compromise that doesn't involve a fork.Long game is always best, as it preserves the power of polic ...

Governments are pushing the policy to its limits https://t.co/lcvzjtvmyn ...

Policy Analysis - Target's new policy is being evaluated for its potential impact, questioning whether it is unconventional, practical, or a combination of both [1] Business Strategy - The article explores the business implications of Target's new policy [1]