Luke Gromen: The Bull Market That Loses You Money

Welcome back, everyone. Today we have an awesome episode. Today’s guest is Luke Gromen, founder of the macro research firm Forest for the Trees, or FFTT. In today's episode, Luke Gromen argues that free trade is dead, and the US is pivoting to Hamiltonian economics: tariffs, reshoring, and a neutral reserve asset. He explains why the US Treasury can no longer be the world's reserve asset, why long bonds have become certificates of confiscation, and why gold belongs in every portfolio. To close, Luke explains why AI has become a snake eating its own tail on the government's tax base.