Jul 24, 2023
The potential of artificial intelligence ("AI") has been discussed for several years, and with the development of tools like ChatGPT quickly growing popular, many people are bullish about AI right now. On today's show, Daniela's guest E.B. Tucker believes this global race to develop AI technology could intensify geopolitical tensions, much like de-dollarization, as foreign adversaries embrace this fast-moving trend. He says, "The chip wars are real. They're almost as big as the currency wars. That's the new method of battling the world powers. Without the chips, you can't make any of this happen."
E.B. also believes the Federal Reserve's willingness to use
interest-rate hikes to manipulate the money supply will weigh
heavily on consumers in the long term. "The Fed's going to go
as high and as long as it can before it creates panic. The game
plan right now is to suck as much money out of the system as it can
without causing a big earthquake in the system," he explains. In
conclusion, he implores Daniela's listeners to avoid letting fears
of a recession guide their investment decisions due to the central
bank's ability to interfere with the economy. "We used to have
recessions 25 years ago. What we have is an ongoing boom and the
occasional panic. Now, it's too difficult because there's so much
intervention. They're trying to manage everything, so there won't
be a recession," he claims.
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