Gold has smashed records above $5,000/oz, not just riding inflation fears, but sending a louder message. Here’s what’s driving the rally: Sure, inflation and low real rates matter. But gold is also rising with volatility and safe-haven demand as risk assets falter. When gold rallies amid geopolitical tensions, reserve diversification, and fiscal uncertainty, it becomes…
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The U.S. economy grew at a robust 4.3% annualized real GDP rate in Q3 2025, beating expectations and showing strong consumer demand, export growth, and government spending (Bureau of Economic Analysis). But there’s more beneath the headline: This mix of strong growth but subdued investment and cautious hiring suggests the economy is in a delicate…
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Recent market moves reveal more than volatility, they’re a clear sign that confidence in the current financial and policy framework is unraveling. On January 20, 2026: This rare, simultaneous sell-off in stocks, bonds, and the dollar signals a profound risk repricing linked to eroding confidence. Japan’s bond market is flashing global alarm: Western institutional investors…
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The U.S. leads in AI invention, frontier models, semiconductors, and research. But China is pulling ahead in applying AI at scale, especially in manufacturing. In 2024, China installed nearly 295,000 industrial robots, about 9X more than the U.S., and boasts 5X the total robot population in factories. Around 45% of Chinese manufacturers use AI today,…
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The latest Producer Price Index (PPI) came in at around 3% year-over-year, highlighting that inflationary pressures at the wholesale level remain firmly in place, even as consumer inflation shows signs of easing. What’s driving this sustained wholesale inflation?– Services inflation, especially in logistics, trade margins, and wholesale services, continues to keep PPI elevated despite moderation…
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The January 13 release of the U.S. Consumer Price Index offers the first clear inflation snapshot since last year’s government shutdown disrupted data reporting. Headline inflation is easing, with annual CPI near 2.7%, slightly above the Fed’s 2% target. Yet core inflation, excluding food and energy, remains stubborn, signaling ongoing price pressures. Key inflation drivers…
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December’s jobs report shows just 50,000 new payrolls, well below expectations, and confirms the labor market is losing steam. The unemployment rate ticked down to 4.4%, but that’s more about fewer people looking for work than a hiring surge. Key highlights: This isn’t a labor market crash, it’s a “low hire, low fire” equilibrium. Hiring…
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I’m pleased to announce the publication of my latest book, The Smart Investor’s Guide to Commercial Real Estate. Commercial real estate is no longer just about location and leverage. It’s a global, fast-changing, data-driven arena, and succeeding today requires a smarter playbook. After the publication of The Alternative Investment Handbook, I received many messages from…
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