Why a Recession May Never Come... and Why Gold Still Wins

Where are the best opportunities in commodities — and where can investors get burned?Jonathan Wellum breaks down how he approaches gold, silver, copper, uranium, rare earths and mining stocks, while explaining why some parts of the commodity sector can be highly cyclical and speculative.Wellum discusses why investors should understand their “circle of competence,” the risks of picking individual junior miners, and why ETFs or professionally managed vehicles may make more sense for gaining exposure to niche commodity themes.He also takes viewers inside the due-diligence process, explaining what professional investors look for before deciding whether a promising mining story is actually investable. 💡 Jonathan Wellum sees major opportunity across gold, silver, copper, uranium and other commodities — but warns that chasing speculative mining stories can quickly burn investors. He explains why discipline, quality and knowing your “circle of competence” matter more than ever in this commodity cycle. Join the Wealthion community for more on the forces shaping markets — and how to protect and grow your wealth: https://bit.ly/3SsSJgi 💡 Want to hear more from Jonathan Wellum? Watch our previous conversation with him for a deeper look at his investment philosophy, how he thinks about risk, and where he sees opportunity across today’s markets: https://www.youtube.com/watch?v=ezMiX0FtZ7g Chapters: 00:00 Commodity Investing: How to Avoid Getting Burned00:24 Gold, Silver & Critical Minerals: Where’s the Opportunity?00:59 Why Commodities Are So Cyclical01:18 Copper, Uranium, Silver & Gold02:23 Rare Earths: Opportunity or Speculative Trade?03:32 Know Your Investing “Circle of Competence”03:47 Commodity ETFs vs. Junior Mining Stocks05:24 How Professional Investors Evaluate Mining Stocks Connect with us online: Website: https://www.wealthion.com X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ #Commodities #Gold #Silver #Uranium #MiningStocks #Investing #RareEarths #Copper________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.   While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.   We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.   The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. Learn more about your ad choices. Visit megaphone.fm/adchoices

Grant Williams says gold has just beaten its inflation-adjusted 1980 peak for the first time in 45 years, and that is the sound of the "howling wolf" returning to the financial system. Why he tells investors to forget the price and simply own it. Grant Williams joins Maggie Lake to revisit his gold-as-apex-predator thesis eight years on, using the reintroduction of wolves to Yellowstone as a metaphor for gold returning to a monetary system that has grazed itself bare since 1971. He explains why central bank behavior changed after 2022, why the old crisis reaction of buying dollars and treasuries is breaking down, and why he treats gold as protection for your purchasing power rather than a price to trade. What Williams covers: -The Yellowstone wolves, the trophic cascade, and gold as the financial system's apex predator -Why central banks doubled their gold buying and began repatriating it after 2022 -How the old crisis playbook of buying dollars and treasuries is breaking down -Why judging gold by a 20% move misses the point -Weimar, and the difference between price and purchasing power -Own versus buy, and where bullion ends and gold miners begin CHAPTERS  0:00 The Yellowstone wolves and the trophic cascade  1:13 Gold as the apex predator, removed since 1971  3:23 Gold as the howling wolf: a warning to change behavior  5:16 How central bank behavior changed after 2022  8:22 Did we miss the peak in gold?  8:53 Why the 20% bear-market rule misses the point  12:07 Debasement and the case for owning gold  13:55 Own versus buy, and bullion versus gold miners Grant Williams' core message is that protecting your purchasing power is a decision to own, not a trade to time. Making that decision inside a real portfolio, sizing gold and real assets against everything else you hold, is the practical next step, and it is what Wealthion membership is built for. It opens three doors: access to advisors who can help build real assets into your portfolio, and, for accredited investors, access to specialized funds. To see where you stand, start with a complimentary portfolio review: https://bit.ly/4ij9rJD 🚀 FOLLOW & JOIN WEALTHION:https://wealthion.com 🪙 MORE ON GOLD & THE DOLLAR: Grant Williams: Gold's Real Role and the Dollar's Future: https://www.youtube.com/watch?v=8QXFjrNQtF4 Pierre Lassonde: Gold Is Replacing the Dollar: https://www.youtube.com/watch?v=JpjLPYxlny8 The Central Bank Gold Rush: What It Means For You: https://wealthion.com/news/the-central-bank-gold-rush-what-it-means-for-you-chris-mancini #Gold #Investing #Dollar ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.   While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.   We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.   The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. Learn more about your ad choices. Visit megaphone.fm/adchoices

Veteran economist and market strategist David Rosenberg joins Maggie Lake to explain why he believes the U.S. economy is weaker than headline data suggests. Rosenberg breaks down slowing growth, disinflation, labor-market weakness, the disconnect between strong corporate earnings and stagnant household income, and why AI spending may be masking broader economic softness. He also makes the contrarian case that the Federal Reserve’s next move could ultimately be a rate cut—not another hike—and explains what investors should watch if the economy continues to lose momentum. 💡 David Rosenberg warns the U.S. economy may be far more fragile than it looks, with labor-market weakness and an AI boom masking broader softness. He also explains why the Fed’s next move could be a rate cut, not another hike. Join the Wealthion community for more on the forces shaping markets — and how to protect and grow your wealth: https://bit.ly/3UKCU5m 📘 David Rosenberg’s first book, Bear in the Bull Ring, is expected to be released in early October. Drawing on four decades in markets, Rosenberg shares the lessons, risks, and investing principles that have shaped his career as one of Wall Street’s best-known contrarian voices. Pre-order Bear in the Bull Ring here: https://bit.ly/4bZ3sWx Chapters: 00:00 David Rosenberg: Fed Rate Cuts & Economic Warning Signs 00:21 David Rosenberg on Bear in the Bull Ring 04:12 Will the Federal Reserve Cut Rates Next? 05:46 Weak GDP Growth & Falling Inflation 08:23 Why the U.S. Economy Is More Fragile Than It Looks 09:23 Labor Market Weakness Could Change the Fed’s Focus 10:08 Treasury Yields, Bond Markets & Inflation Uncertainty 13:53 Why Are S&P 500 Earnings Still So Strong? 16:51 AI Spending, Corporate Profits & Recession Risk 19:51 Is the AI Boom Masking a Weak Economy? 22:30 The Stock Market Wealth Effect & Consumer Spending 24:26 What Happens If Stocks Stop Rising? 25:34 Rising Real Rates Are a Threat to the Economy Connect with us online: Website: https://www.wealthion.com X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ #DavidRosenberg #Economy #FederalReserve #StockMarket #Recession #Inflation #InterestRates #AI #Investing #Markets ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.   While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.   We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.   The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. Learn more about your ad choices. Visit megaphone.fm/adchoices

David Woo says markets may be dangerously underpricing the risk of escalation around Iran and the Strait of Hormuz. He explains why Iran has an incentive to push crude toward $100–$120, why tougher U.S. action could be bullish for oil and bearish for stocks, and how a confrontation involving China could raise the stakes even further. Woo also breaks down the shifting Russia-Ukraine war, the opportunity he sees in defense stocks, mounting pressure on Europe—and why he remains long oil as geopolitical risks build. 💡 From the risk of $100–$120 oil and a renewed Iran showdown to rising pressure on stocks, China, Europe, and global defense markets, David Woo explains why investors may be underestimating how quickly geopolitical tensions could turn into a broader market shock. Join the Wealthion community for more conversations on the forces shaping markets — and how to protect and grow your wealth: https://bit.ly/4gER4xy 💡 Want more of David Woo’s independent macro, geopolitical, and market analysis? Follow his latest research and commentary at David Woo Unbound: https://www.davidwoounbound.com/ Chapters: 0:00 Oil to $120? David Woo’s Warning for Markets 0:21 Iran, the Strait of Hormuz & the Oil Shock 4:33 China Could Send Oil Higher and Stocks Lower 7:30 Wealthion Membership 8:48 Could the U.S.-Iran Conflict Escalate? 10:32 Are Markets Underpricing the Iran Risk? 14:17 Russia-Ukraine War: Is Russia Gaining Momentum? 18:33 Why David Woo Likes Defense Stocks 20:03 What a Stronger Russia Means for Europe 21:51 Europe’s Energy Crisis & China Trade War Risk 24:08 David Woo’s Portfolio: Oil, Bonds, AI & the Yen Connect with us online: Website: https://www.wealthion.com X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ #Wealthion #Wealth #Finance #Investing #PortfolioReview #InvestmentAdvice #FinancialPlanning #WealthManagement ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.   While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.   We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.   The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. Learn more about your ad choices. Visit megaphone.fm/adchoices

The recession everyone feared still hasn’t arrived — and the stock market keeps defying the bears. Ed Yardeni explains why he believes the U.S. economy remains resilient, why consumer spending and corporate earnings could keep the bull market moving higher, and why pessimistic investors may be missing what’s happening right in front of them. He also breaks down how he’s thinking about stocks, bonds, gold and emerging markets — and why the biggest AI investment opportunity may be in the companies using artificial intelligence to drive productivity and profits. Topics: stock market outlook, U.S. economy, recession, bull market, AI stocks, corporate earnings, consumer spending, investing, gold, bonds, emerging markets. 💡 From a recession that never arrived to resilient consumers, strong corporate earnings, and the next wave of AI-driven productivity, Ed Yardeni explains why the bull market may have more room to run — and how investors should think about stocks, bonds, gold, emerging markets, and the companies benefiting most from AI. Join the Wealthion community for more conversations on the forces shaping markets — and how to protect and grow your wealth: https://bit.ly/45sNWi5 Chapters: 0:00 Why the Bears Keep Getting This Market Wrong 4:35 Baby Boomers Are Keeping Consumer Spending Strong 6:49 Could a Bear Market Finally Break the Consumer? 8:47 Is the Stock Market Too Big to Fail? 11:11 AI, Productivity and the Future of Wages 14:16 Why the Perma-Bears Keep Getting It Wrong 15:25 Strong Earnings vs. Recession Fears 16:49 How to Invest: Stocks, Bonds, Gold & Emerging Markets 18:46 Why This Bull Market Is Different 19:35 The Biggest AI Investment Opportunities 20:15 AI Stocks: Financials, Cybersecurity & Healthcare Connect with us online: Website: https://www.wealthion.com X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ #StockMarket #Recession #BullMarket #USEconomy #Investing #MarketOutlook #AIStocks #CorporateEarnings #ConsumerSpending #Gold #Bonds #EdYardeni ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.   While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.   We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.   The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. Learn more about your ad choices. Visit megaphone.fm/adchoices

Top gold miners are earning margins above $3,000 an ounce, yet Jonathan Wellum says their stocks are still priced as if gold were far lower. Why he sees a rare gap between commodity cash flow and mining stock prices. Jonathan Wellum, CEO and CIO of RockLinc, joins Maggie Lake to explain why commodities and mining may be one of the most overlooked opportunities in the market. He connects Trump's push to revive US mining, deglobalization, and Western dependence on China for critical minerals to a simple imbalance: the world is demanding more copper, silver, uranium and gold than it produces, while capital keeps flooding into AI. He also lays out why mining equities lag their own cash flow, how he separates precious metals from critical minerals, and where he is cautious on the AI build-out. What Wellum covers: - What Trump's mining roundtable and the reshoring push mean for critical minerals - Why mining stocks lag despite record free cash flow and expanding margins - The debasement trade, record central bank gold buying, and a debt-driven case for hard assets - Precious metals versus critical and industrial minerals, and how RockLinc chooses among copper, uranium, silver, gold and potash - Charlie Munger's circle of competence, and why an ETF can beat picking junior miners - Reshoring beyond the miners, and why he is cautious on the AI CapEx story 💡 From years of underinvestment in critical commodities to mounting debt and an AI spending boom with uncertain returns, Jonathan Wellum explains why gold, silver, copper, uranium, and other real assets could matter more in the years ahead. Join the Wealthion community for more conversations on the forces shaping markets — and how to protect and grow your wealth: https://bit.ly/4bOwJTI 💡 Jonathan Wellum explains why debt, commodity shortages, and uncertainty around the AI boom could create both risks and opportunities for investors. Sign up for a free portfolio review with one of Wealthion’s trusted advisors to see how your portfolio is positioned: https://bit.ly/4xyF7PI Chapters: 00:00 Gold, Commodities & AI: What Investors Need to Know 00:58 Trump’s Push to Revive U.S. Mining 03:14 Silver & Copper Shortages Are Growing 04:29 Are Mining Stocks Still Undervalued? 06:20 Gold & Silver as Protection Against Financial Risk 06:44 Why Investors Are Still Missing the Commodity Trade 07:43 Debt, AI Spending & Stress on the Financial System 08:55 Mining Investing: Why the Story Isn’t Enough 09:57 The Reshoring & Infrastructure Investment Opportunity 10:38 Finding AI Winners Beyond Nvidia 13:41 The Big Risk Behind the AI CapEx Boom 16:27 Why Some AI Companies Could Go Bankrupt Connect with us online: Website: https://www.wealthion.com X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ #Gold #Silver #Commodities #MiningStocks #Investing #AI #StockMarket #PreciousMetals #Copper #Uranium #Wealthion ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.   While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.   We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.   The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. Learn more about your ad choices. Visit megaphone.fm/adchoices

Roughly six vessels moved through the Strait of Hormuz in a day, down from 130 to 140 before the war, and Art Berman says Persian Gulf oil production is down about 10 million barrels a day. His case: this is a bigger supply shock than COVID, and markets are barely pricing it. Geologist and energy consultant Art Berman returns to Wealthion with Maggie Lake to explain why the oil market looks calm on the surface while the plumbing underneath has changed dramatically. He argues the ceasefire optimism is misplaced, that markets are not wrong so much as focused on the wrong part of the system, and that the real story sits in upstream production, not tanker traffic through the Strait of Hormuz. What Berman covers: - Why Hormuz flows may not return to even half of pre-war levels before the middle of 2027 - Why markets are not getting it wrong, and what the shift in the futures curve is really signaling - How the oil market always clears, and why demand reduction is the ultimate default - Upstream, midstream and downstream: the distinction most headlines miss - The figure almost no one is discussing: Persian Gulf production down around 10 million barrels a day - Why, by one measure, this is a larger supply shock than COVID Chapters: 00:00 Art Berman: The Energy Order Is Breaking 00:54 Strait of Hormuz Crisis: Why Conditions Are Getting Worse 03:57 Oil Markets, Iran and the Risk Investors Are Pricing 10:05 Why Demand Destruction Becomes the Ultimate Solution 13:18 10 Million Barrels a Day of Oil Production Shut In 16:24 Oil Stocks vs. Flows: What Investors Are Missing 22:09 Hormuz, Panama Canal & the New Geopolitics of Choke Points 27:18 Why a Middle East Deal Won’t Quickly Restore Oil Flows 30:21 Why Shut-In Oil Production May Never Fully Recover 34:08 Art Berman Warns of an Unprecedented Energy System Shock 38:16 The Post-WWII Energy Order Is Unraveling 43:17 Oil Prices, Market Risk & How Price Discovery Really Works 💡 From the Strait of Hormuz and millions of barrels of shut-in production to the unraveling of the postwar energy order, Art Berman explains why this is far more than a temporary oil shock — and why the global energy system may never return to what it was before. Join the Wealthion community for more conversations on the forces shaping markets and how to protect and grow your wealth: https://bit.ly/4woj119 💡 Want to hear more from Art Berman? Explore his latest research, analysis, and insights on energy markets, oil, geopolitics, and the forces reshaping the global energy system at ArtBerman.com: https://www.artberman.com/contact/ Connect with us online: Website: https://www.wealthion.com X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ #ArtBerman #OilPrices #EnergyMarkets #StraitOfHormuz #Iran #MiddleEast #OilMarket #EnergyCrisis #Geopolitics #CrudeOil #OilSupply #EnergySecurity #GlobalMarkets #Investing #MarketOutlook ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.   While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.   We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.   The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. Learn more about your ad choices. Visit megaphone.fm/adchoices

The U.S. jobs market is cooling — but mining has a very different labor problem: finding the right talent. Veteran geologist and mining expert Steven Enders joins Maggie Lake to explain why the quality of people and management teams can make or break a mining project — even as the industry faces enormous demand for critical minerals. Enders breaks down the looming copper supply gap, why new mines remain so difficult to build, where we may be in the commodity cycle, and why AI can help the mining industry — but won’t solve its biggest problems. Plus: why he’s skeptical of mining project forecasts, what investors should look for in management teams, and the warning signs that tell him a commodity cycle may be getting mature. Topics include: • U.S. jobs market and mining’s talent challenge • Copper demand and the global supply gap • Mining stocks and commodity cycles • How to evaluate mining management teams • AI in mining and mineral exploration • Capex, opex and why mining projects run over budget • M&A and signs of a mature commodity cycle 💡 From a looming copper supply gap to mining’s hidden talent problem, Steven Enders explains why finding the right people may be just as critical as finding the right resources — and why AI alone won’t solve the industry’s biggest challenges. Join the Wealthion community for more conversations on the forces shaping markets and how to protect and grow your wealth: https://bit.ly/4wiKgKv Chapters: 00:00 Copper, Talent & Mining’s Biggest Challenges 00:40 The Looming Copper Supply Deficit 02:12 Why Steven Enders Is Bullish on Copper 03:43 Mining’s Hidden Talent Problem 05:38 How to Evaluate a Mining Management Team 07:58 Critical Minerals & Government Support 08:50 Can AI Transform Mining and Exploration? 10:51 M&A, Commodity Cycles & “The Crazies” 12:54 Mining Volatility & Long-Term Investing 14:56 Why Mining Project Costs Are Often Too Low Connect with us online: Website: https://www.wealthion.com X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ #Copper #Mining #Commodities #Jobs #CriticalMinerals #AI #Investing ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.   While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.   We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.   The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. Learn more about your ad choices. Visit megaphone.fm/adchoices

The U.S. economy has survived higher rates, tariffs, inflation, geopolitical shocks and repeated recession warnings. Ed Yardeni says there’s a reason: the American consumer remains remarkably resilient. In this conversation, Yardeni explains to Maggie Lake why he believes the economy could stay strong through the end of the decade — but warns that the Federal Reserve now faces a serious credibility test as inflation remains above target. We discuss why Yardeni thinks the Fed should move in September, the return of the “bond vigilantes” — a term he coined in 1983 — the risks building in Japan, and what the next inflation report could mean for markets. Yardeni also lays out his provocative “G-shaped economy” thesis: older, asset-rich Americans are thriving and spending, while younger generations continue to struggle with housing and affordability. Topics include: • Why Yardeni calls the U.S. consumer “bulletproof” • The Fed’s September decision and inflation risk • The return of the “bond vigilantes” — and why long-term yields could revolt • Japan and the threat of a renewed currency crisis • The “G-shaped economy” and America’s generational divide • What investors should watch in the next CPI report 💡 From a “bulletproof” consumer to renewed pressure from the bond vigilantes, Ed Yardeni explains why the U.S. economy remains remarkably resilient — and why the Fed’s credibility could soon be tested. Join the Wealthion community for more conversations on the forces shaping markets and how to protect and grow your wealth: https://bit.ly/4wiKgKv Chapters: 00:00 Cold Open 00:16 Ed Yardeni on the U.S. Economy 00:43 Why This Economy Refuses to Break 02:17 The “Bulletproof” American Consumer 04:24 Bond Vigilantes & the Risk of a Debt Revolt 08:56 Is Inflation About to Become a Bigger Problem? 10:53 The Fed’s Credibility Is on the Line 12:43 Yardeni’s “G-Shaped Economy” 14:42 “Intergenerational Theft” & America’s Wealth Divide 18:07 How Fragile Is the U.S. Treasury Market? 20:27 Japan’s Currency Crisis Risk 21:50 The Next CPI Report Could Test the Fed Connect with us online: Website: https://www.wealthion.com X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ #Wealthion #Wealth #Finance #Investing #PortfolioReview #InvestmentAdvice #FinancialPlanning #WealthManagement ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.   While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.   We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.   The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. Learn more about your ad choices. Visit megaphone.fm/adchoices

Could your state make it more expensive to leave—or tax wealth you haven’t even sold? Chris Casey, founder of WindRock Wealth Management, breaks down the growing push for wealth taxes, exit taxes, taxes on unrealized gains, and new pressures facing real estate owners. He explains why cash-strapped states may increasingly target wealthy residents for revenue, why those policies could drive taxpayers elsewhere, and why he believes the impact may eventually reach far beyond the ultra-wealthy. Casey also explains what investors and property owners should be watching as state tax policies become more aggressive. 💡 From exit taxes to wealth taxes and new pressure on real estate, Chris Casey warns that state-level tax policy could have much broader consequences for investors. Join the Wealthion community for more conversations on how to protect and grow your wealth: https://bit.ly/4xpoGF4 💡 Want to learn more about Chris Casey and his work on wealth protection, tax risk, and portfolio strategy? Explore his background at WindRock Wealth Management: https://www.youtube.com/watch?v=l2DdcqtoBYs Chapters: 00:00 Wealth Taxes, Exit Taxes & Real Estate Under Attack 00:23 What Is Financial Repression? 00:50 Exit Taxes: Could You Be Taxed for Leaving a State? 01:32 Could State Exit Taxes Become More Common? 01:54 Why Wealthy Americans Are Moving to Lower-Tax States 02:16 How Wealth Taxes Could Work 02:34 California’s Proposed Wealth Tax Explained 02:59 Why Wealth Taxes Could Drive Taxpayers Away 03:37 Are Wealth Taxes Spreading to Other States? 03:56 Could Exit Taxes Be Applied Retroactively? 04:16 Could Wealth Taxes Go Federal? 04:40 Do Wealth Taxes Actually Work? 05:35 Could These Tax Proposals Become Law? 06:08 How Wealth Taxes Could Hit Real Estate 06:53 Taxing Unrealized Real Estate Gains 07:14 New Taxes on Homes, Condos & Property 07:33 Why Chris Casey Says Real Estate Is Under Attack 08:02 “Eventually This Is Going to Hurt Everybody” Connect with us online: Website: https://www.wealthion.com X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ #WealthTax #ExitTax #RealEstate #Taxes #Investing #WealthManagement #ChrisCasey #MaggieLake #Wealthion ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.   While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.   We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.   The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. Learn more about your ad choices. Visit megaphone.fm/adchoices