Manage episode 372115343 series 3378373
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.
➡️ Watch Here