Thoughtful Money with Adam Taggart The Investor's Dilemma: Ride The Bubble Or Seek Safety? | Peter St Onge
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Nov 20, 2025 In this discussion, macro analyst Peter St Onge weighs in on the current market climate, highlighting rising credit spreads and the return of volatility. He sees optimism in the near term but warns of a long-term fiscal disaster. St Onge argues that while AI is a bubble, its impact persists alongside ample liquidity. He suggests hedging strategies with gold and Bitcoin amidst currency debasement fears, and he anticipates gradual shifts in administration policies that could stimulate growth. St Onge also predicts transformative trends in robotics and longevity.
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Near-Term Growth Despite Long-Term Fiscal Risk
- Peter St Onge sees the U.S. in a mid-cycle expansion for the next 2–4 years driven by liquidity, foreign investment, and AI growth.
- He warns long-term fiscal trends still point to systemic collapse without policy changes.
Three Forces Could Turbocharge Growth
- Three key tailwinds Peter highlights are Fed easing, large foreign investment into U.S. production, and explosive AI capability growth.
- Combined, they could turbocharge GDP and jobs in the near term but also rekindle inflation risks.
AI Is A Bubble Fueled By Liquidity
- Peter calls AI a clear bubble comparable to dot-com but emphasizes bubbles persist while liquidity remains abundant.
- He notes bubbles end from liquidity changes, not valuations alone.
