I agree on the thoughts about Druck’s op-ed below. I don’t care that he used AI to write it, I care that he put forward his views. As someone who covered him for years, I can tell you Druckenmiller speaking out is a rare occurrence, particularly on such a heated issue. He has long been concerned about deficits.
To that end, here’s a chart I had Gemini draw up for me. And yes, I asked AI in this instance because it was faster. The point is the same — a 10 basis point rise across the curve is real money adding to a vicious cycle of net interest costs as the expense reaches $1 trillion this year.