Open Book with Anthony Scaramucci America's Inequality Crisis, Trump v Powell, Global Instability, Venezuelan Oil & Bitcoin?
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Jan 14, 2026 
Mike Novogratz, Founder and CEO of Galaxy Digital and macro market expert, dives into the pressing issues of inequality and global instability. He discusses the risks of regime change and the political pressures facing the Fed. The conversation tackles the challenges of investing in Venezuela, juxtaposes U.S. populism with free-market approaches abroad, and critiques rising housing costs. Mike also shares insights on Bitcoin's market structure and suggests hard assets as a hedge against instability in the dollar.
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Housing Affordability Fuels Populism
- Home price affordability is widening the gap between median income and required earnings to avoid being 'house poor'.
- This disconnect feeds populist pressure and political solutions that may be economically blunt.
Inequality Will Define The Next Decade
- Inequality is the defining story for the next decade and resembles a new Gilded Age.
- How we address it will determine whether America remains a livable meritocratic society.
Tax Reforms To Restore Fairness
- Reform taxes to be perceived as fair: align capital gains and income and eliminate step-up basis.
- Cap total taxes at 50%, close grantor trust loopholes, and apply a universal inheritance tax with no exceptions.