Robert Parenteau,CFA until CFAI CMO fraud revealed
@MacroEdge1
Renegade economist/investment strategist for top 50 Global Asset Manager & itinerant permaculturist.
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The neoliberal growth formula relies on serial asset bubbles. The US AI capex boom is heavily dependent on Asian imports. If US companies had products to sell Koreans, this would induce an offsetting US export boom. Instead, foreign earnings get recycled thru a US equity bubble.
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The AI capex boom, 2-3 years in, has brought no labor productivity or TFP boom, no product price deflation, no killer consumer apps, no household employment gains, no real GDP acceleration (it all bleeds out through imports) and massive equity price appreciation. Nice one.
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