How Money Printing, Inflation, and AI Will Reshape Wealth and Employment | Arthur Hayes X Impact Theory w/ Tom Bilyeu

This is defining moment of what it means to be human. Are we gonna blow ourselves up because we couldn't decide how to share? Banks either adapt or they die. We all believe that the government is supposed to save us. Therefore, the government says, okay. Great. We don't wanna raise taxes because that's very unpopular regardless of whether democratic or not. If you own a house, you want what Trump wants to have have happen. Right? He's gonna pump your house price too. I worry very much about society tearing itself apart. To say that he is against socialism just doesn't you don't don't remember what happened in 2020. The United States is not going anywhere just because debt to GDP is a 135 or a 140%. There's an immense capacity to add more debt in The US situation. If you don't like the way the situation is in The United States, there's a whole big old world out there. Leave. Arthur Hayes, welcome back. Thanks for having me. Excited. Dude, always a pleasure. Researching you for these interviews is important quite frankly, to my macro thesis and how I treat my own money. So I'm always excited to get a chance to sit down with you and bring all the things you're thinking, the the things that are influencing me directly to the audience. So I appreciate the time. Awesome for having me. Thank you. Alright. Well, let me ask you. The economy right now feels pretty brittle to me. Crypto has dipped hard. Stocks are whipsawing. AI looks like the biggest bubble ever. What what is the real force underneath all of this and is the economy about to break? I know most of the listeners here from The United States, and I think that there's been a lot of discussion of the the the k shaped economy. There's a very small percent of people who are doing very, very well. And then the majority of Americans, if you take a look at some of the consumer sentiment surveys, think this is the worst economy since the seventies, even worse than the the global financial crisis, you know, when it looked like the world was gonna, implode on itself because of overleveraged American subprime mortgages. And the question is, like, why is that if, you know, GDP supposedly, real GDP is growing at 3% a year. Supposedly people are making more money and all these sorts of things. And I think the name of the game is inflation. People really feel inflation. And I know that the authorities in The United States and around the world like to say, oh, the the year on year change is either the decelerating or it's in deflation. But, you know, everyday people don't give a fuck about the rate of change. They care about the at the actual price level. So, like, how much does stuff cost right now? How much did it used to cost? Did my salary keep …