While investors wait for a recession that never comes, AI spending and fiscal stimulus keep pouring fuel on the expansion.

David Cervantes of Pinebrook Capital joins to explain how AI spending is reshaping the economy, profits, and traditional market dynamics.

We also discuss productivity gains, consumer resilience, inflation risks, Fed policy, bond market reactions, energy markets, and David’s favorite international trade. Enjoy!

TIMESTAMPS:

00:00 Intro

01:59 AI Buildout Is Driving Macro

06:01 Profit Margins And Productivity

09:58 Supply Chains Shift To Resilience

13:13 Consumer Resilience Mystery

19:19 What Funds The Consumer?

22:44 Why The Recession Never Comes

25:55 The Fed Rethinking Hikes

32:19 Warsh Inheriting Inflation Fight

38:07 Bonds, Equities And Rates

41:17 Can Stocks Ignore Rates?

44:21 The Korea Trade

FOLLOW DAVID

› X/Twitter – https://x.com/EconstratPB

FOLLOW THE SHOW

› Forward Guidance – https://x.com/ForwardGuidance

› Felix – https://x.com/fejau_inc

› Telegram – https://t.me/+CAoZQpC-i6BjYTEx

› Blockworks – https://x.com/Blockworks

DISCLAIMER

Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.