3 Megatrends Every Investor Needs to Know: Demographics, Wealth Inequality, & the End of Labor (with Jeff Park)
Episode publishedPodcast: BanklessBankless
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The value of labor is reaching zero because I think technology as a whole is deflationary. I think that's the punchline. If technology works the way that is allowing for productivity growth, that resets the jump to universality in ways that is unimaginable, it's really deflationary. And so you should expect a lot of things to maybe go down in price. What's happening, though, is that's not what we're seeing in actual price because we live also in a credit world where credit inflation and credit creation is a big driver of our growth model.
Banklessation, I'm here joined with Jeff Park. Jeff, you've had on the podcast once before a pretty good macro mind that is very well in in crypto and Bitcoin. Jeff, welcome back to the podcast.
Yes. Happy to be here. And my on how much the time has changed since then.
Yeah. Different different era different era, but nonetheless, the macro conversations are always kinda the same.
And I I think, Jeff, you wrote
an article that is of the spirit of a lot of questions that me and probably most people have, which is like, what the hell is going on in the market? It seems the market is at peak uncertainty. And like AI, the the fog of war of AI is so thick. Just AI itself prevents us from being able to see into the future. Meanwhile, we have, like, an unprecedented conflict in The Middle East. We have unprecedented levels of debt. We always have unprecedented levels of debt, but that always that number always goes up. And so this these compounding things just make me feel so uncertain. And I think you you
Yeah. No. I love it. Great setup, and I agree with you completely. The fog of war is everywhere. I mean, the fog of war is present in the lens of AI and the great amount of anxiety that the population is experiencing as to what it means for them. The fog of war, as you mentioned, is also physical in Iran in terms of day by day, the tickers of how things seem to move with a lot of sporadic price action based on uncertain news flow, which cannot be actually trusted on both sides. And there's a lot of fog of war in public policy, and all of these things create a lot of uncertainties for people to
Yeah. The idea of just if we can name things that we feel are certain or at least likely enough that we can call them certain for all intents and purposes, then I think what you're doing is just like, okay, let's do what we can to remove variables from the equation to make the equation just easier to reason about, easier to think about. And so in your article, you have three of these things, certain truths three certain truths. One, demographic headwinds, the inverted pyramid of the population of not just not just the baby boomers here domestically, but I think that's representative of the glo
Yeah. As you've laid out, there's three certain truths that I try to bring to light, and we start with what I think is odd the most intuitive one that people can really understand as a long moving average that is pretty much at this point somewhat unstoppable. And it's worth refreshing some of these numbers live with you because sometimes I think it helps people reawaken that this is real, and we need to actually pay attention to it. So the first thing I would mention as you as the global level is that a third of the world by countries that represent about a third of the world's population, th
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