Lyn Alden on Macro Consequences of AI and The Stolgard Incident (Monitoring The Situation Replay)
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Today's episode is brought to you by the Unlimited HFGM Global Macro ETF, ticker HFGM. Later in the show, you'll hear more about HFGM, currently the number one Morningstar rated fund since its inception in The US macro trading category. Let's get into it. Monetary Matters is now streaming daily as part of monitoring the situation. Join us live on x from four to 5PM eastern, Monday through Friday for live interviews and analysis breaking down the market's most important situations in real time. This is a recording of a live interview from MTS with none other than Lynn Alvin. We talk about the m
And I'm Max Weathie. Our good friends at Citrini Research, our friends at Van Eck have have kept us in the loop on everything that's happening in semiconductors.
Right. And, yeah, I think I'm I'm grateful to Sattrini van Eck people who have taught me a lot about the semiconductor industry. You know, it's no secret that I've been quite bullish in, in the space. And I gotta say, I'm pretty proud of the coverage that we've had on, on the monetary matters podcast. If I don't know if people could see the screen now, but, like, I interviewed Satrini. He he had a bull thesis on Teradyne in the the June, and the, you know, the stock is up 342% since since then. I participated on on that. I got out too early, of course, but, you know, hope hopefully some people
Let let's be clear here. Jack and I are not the experts on comparing the new models. We are gonna bring on experts to try and and help us and you understand it and then as well to draw a connection between the opportunities in public markets.
But I think the under underlying point is that these tokens have value, and the demand for these tokens is very high. And, therefore, the demand to for compute is high. Therefore, the demand for things that produce compute, like semiconductors and electricity, is is high. That, has been my thesis, continues to be my thesis. I will say eighteen days in a row, obviously due for a pullback, perhaps a a mega pullback. So, you know, this, this this could mark a a local top, but what I suspect will not be a a top top.
Not investment advice. Of course. With that said, let's bring on Lynn.
Yes. So Lynn Alden of Lynn Alden Investment Strategy, not just a renowned macro strategist, not just an author of nonfiction books on monetary monetary matters, money, but also a science fiction author. Lynn, welcome. How are you thinking about A. I. And the increasing use of A. I. Agents? I know you think it has some consequences for the economy, for stocks, for the monetary system. But just how seriously are you taking this universe where many tasks are going to be done by an autonomous AI agent as opposed to a human being?
I take it variously. I think it's at least comparable to the shift we saw in, say, the eighties and nineties about blue collar manufacturing. I think a lot of this basically applying the same types of principles to a lot of white collar work, which historically is on average higher paid work. So I think the multi year and maybe even multi decade changes from this are going be profound. I tend to fade the most bullish narratives from some of the CEOs that kind of sell their own books, saying in eighteen months half of all this industry is going to be gutted and all that. But I continue not to f
And where would you say we are now? Just how just how deep into this this cycle we are and, you know, I mean, do you do you think this is a secular trend? And I don't know. You know, in I mean, fifteen years, do you still think that data center spend is going be growing by a tre
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