Julien Garran

Julien Garran, a macro strategist and partner at Macro Strategy, shares his insights on the AI bubble, arguing it could be the biggest threat to economic stability we've seen. He delves into why large language models are unlikely to yield sustainable profits and discusses the role of monetary policy in capital misallocation. Julien also highlights the rising costs associated with AI model upgrades and the implications of recent market dynamics. His take on the fragility of AI applications and comparisons to past bubbles will leave listeners both informed and intrigued.

Julien Garran, a macro strategist at MacroStrategy (UK), dives deep into the potential dangers of the AI mania, likening it to past bubbles like the dot-com and housing booms but with greater risks. He critiques current monetary policies for leading to significant capital misallocation, revealing a fragile financial system. Julien highlights the monopolistic behaviors of tech giants and the inherent flaws in large language models, stressing their unsustainable losses and potential to disrupt global capital flows and productivity.

In a captivating discussion, Julien Garran, a partner at MacroStrategy Partnership specializing in global liquidity cycles, reveals the misinterpretation of Trump's economic agenda. He argues that the 'Real Trump Trade' focuses on revitalizing blue-collar workers through strategic government interventions. Julien discusses how trade, spending, and energy policies aim to rectify decades of decline, while predicting a deflationary bust turning into a reflationary boom. He also raises concerns about AI's sustainability as a bubble and the potential for long-term economic shifts.