Top Traders Unplugged

GM84: What Everyone Saw, but No One Priced ft. Bob Elliott

79 snips
Jun 25, 2025
Guest
Bob Elliot
Bob Elliott, an investment strategist renowned for his expertise in macroeconomics, joins the discussion to unravel the complexities of today's financial landscape. He emphasizes that while strong economic data seems promising, it conceals deeper structural shifts in the economy. Topics include the potential for inflation to defy expectations, the impact of tariffs and labor shortages, and the prospect of capital flowing out of the U.S. for the first time in decades. Elliott urges a rethink of traditional investment strategies to adapt to this evolving reality.
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INSIGHT

Income-Driven Expansion Holds

  • The income-driven expansion remains intact with steady income and spending growth.
  • However, policy changes like tariffs could slow growth despite current strong fundamentals.
INSIGHT

Tariffs Could Fuel Inflation

  • Tariffs act like a tax hike, pushing prices up and potentially sparking inflation.
  • Without matching income growth, consumers must cut real spending, risking unwanted inflation persistence.
INSIGHT

Wage Growth Amid Tariffs and Labor Cuts

  • Tariffs combined with labor supply cuts could drive wage growth.
  • This may lead to sustained demand-push inflation instead of the expected deflation or recession.
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