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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Forget the usual economic forecasts. If you want a real-time pulse on where the economy is headed, look no further than consumer confidence, and right now, the signals are flashing red. According to the Conference Board, the U.S. Consumer Confidence Index has dropped to 98.1, with the Expectations Index sinking deep into contraction territory at…
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Gold is roaring higher – now blasting through $4,466/oz to fresh all-time highs. It’s not just hype. Institutional and sovereign demand are soaring, with Q3 2025 hitting a record $146 billion in value and central banks scooping up ~220 tones. Gold remains the go-to hedge against inflation, currency shocks, and global uncertainty. Meanwhile, bond markets…
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This morning’s CPI data showed headline inflation falling to 2.7% year-over-year, well below forecasts and down from 3.0% in September. Core inflation also eased to 2.6%, fueling optimism that inflation may be easing. But a deeper look reveals the picture is far from straightforward. Key issues cloud the November reading: The data collection was delayed…
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The unemployment rate rose to 4.6 percent, the highest in four years, but the bigger story lies in what this means for wages and why it matters to millions of workers. The U.S. labor market isn’t collapsing; it’s cooling, and that subtle shift changes everything for paychecks. Over the past five years, we’ve seen a…
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Since 2020, Michael Saylor, founder and executive chairman of Strategy (formerly MicroStrategy), has led one of the boldest capital-allocation shifts in corporate history. What started as a traditional software company has transformed into the world’s largest corporate Bitcoin treasury, with BTC as the firm’s primary treasury reserve. To fuel this ambitious strategy, Strategy has leveraged…
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