$GLD - Gold is the second largest reserve currency with central banks acquiring it due to debt concerns and geopolitical risks. Dalio recommends 5-15% portfolio allocation as it acts as a diversifier when 'shit hits the fan'.
$INFRA - Infrastructure development is necessary for economic independence as the US has had a 'hollowing out' of manufacturing. Government is becoming more proactive in creating infrastructure to bring in industries.
Bearish:
$TREASURIES - US government running 40% deficit with unsustainable debt levels. Foreign buyers (especially central banks) are reducing treasury purchases due to geopolitical risks and sanctions concerns.
$BTC - Bitcoin lacks privacy, won't be held by central banks, has high correlation with tech stocks, and faces potential quantum computing threats. It's 'small in relationship to gold' as monetary asset.
$AILABS - AI companies may not produce adequate profits despite technology advancement. China's free/open-source AI approach threatens US profit-based model. Companies won't necessarily survive even if technology succeeds.
$GOVSPEND - Government spending is extremely inefficient with widespread fraud. The system is too complex and poorly managed to reform quickly, making structural change nearly impossible.