Bloomberg Surveillance Political Turmoil, Bitcoin, and the Market Impact
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Dec 5, 2024 
David Rosenberg, founder of Rosenberg Research, shares insights on the 2024 equity rally and the evolving roles of Bitcoin and gold amid market fluctuations. Richard Haas, former President of the Council on Foreign Relations, discusses the implications of political turmoil in France and Korea, highlighting shifting U.S. foreign relations. Wendy Schiller, a Brown University professor, delves into the Senate's response to executive power and Trump's influence on nominations, underlining the complexities of modern U.S. politics.
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Deflationary Trend
- David Rosenberg, known for his deflationary views, foresees a trend of lower interest rates and inflation.
- He believes tariffs will be used strategically, not for trade wars, leading to deficit reduction and deregulation.
Productivity Boom Drivers
- The American productivity boom might not solely be due to pandemic stimulus.
- The retail sector's digitization during the pandemic played a crucial role in driving productivity growth.
Labor Market Anomalies
- The U.S. labor market shows signs of cooling but not contracting.
- Inconsistent economic data makes it challenging to draw clear conclusions about the market's direction.