From the Desk of Anthony Pompliano If You Don’t Own Assets, You’re Falling Behind In This Economy
Nov 11, 2025
Adam Kobeissi, a macro analyst and publisher of the Kobesi Letter, discusses the stark realities of a K-shaped economy where asset owners thrive while many struggle. He critiques Fed policies that favor stocks, real estate, and Bitcoin, explaining how these contribute to widening wealth gaps. Kobeissi addresses the impact of AI on jobs and warns that upcoming stimulus measures will primarily benefit those with assets. He also shares insights on inflation, market valuations, and the recovery of Bitcoin, making a compelling case for the necessity of asset ownership in today’s economy.
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Fed Cuts Into Stagflation
- The Fed risks cutting rates while unemployment rises, creating stagflation that fuels asset-price inflation.
- Adam Kobeissi argues owning assets is essential because nominal asset prices will rise as policy eases.
Questions Around CPI Data Quality
- CPI quality has deteriorated due to growing use of estimates in component pricing data.
- Kobeissi says the exact CPI figure matters less than that inflation remains above the Fed's 2% target.
Own Hard Assets Now
- Position into assets like stocks, real estate, gold, and Bitcoin because policy and deficits favor nominal price gains.
- Kobeissi warns the wealth gap will widen and asset ownership is the primary way to avoid falling behind.