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The Journal

Goodbye 2025, Hello 2026!

9 min episode · 2 min read
·
Damian Paletta,Amol Sharma,Sarah Kraus

Episode

9 min

Read time

2 min

Topics

Relationships, Investing, Leadership

AI-Generated Summary

Key Takeaways

  • Tariff Authority: Supreme Court reviews Trump's power to impose tariffs without congressional approval, a decision that could reshape executive trade policy and impact ongoing international economic relationships in 2026.
  • AI Investment Bubble: Wall Street pours massive capital into AI data centers and infrastructure, but concerns mount about whether companies can generate profits and sustain momentum before triggering market corrections.
  • Business Foundation Shift: Trump administration policies on tariffs, electric vehicles, and food regulation fundamentally alter how American businesses operate, potentially ending the previous global economic framework without returning to pre-2025 conditions.

What It Covers

Wall Street Journal editors preview 2026's top business stories: Trump's tariff legality at Supreme Court, AI profitability concerns, and fundamental shifts in global trade policy.

Key Questions Answered

  • Tariff Authority: Supreme Court reviews Trump's power to impose tariffs without congressional approval, a decision that could reshape executive trade policy and impact ongoing international economic relationships in 2026.
  • AI Investment Bubble: Wall Street pours massive capital into AI data centers and infrastructure, but concerns mount about whether companies can generate profits and sustain momentum before triggering market corrections.
  • Business Foundation Shift: Trump administration policies on tariffs, electric vehicles, and food regulation fundamentally alter how American businesses operate, potentially ending the previous global economic framework without returning to pre-2025 conditions.

Notable Moment

Host proposes moving Christmas to February 14 and Valentine's Day to December 25 to spread out fall holidays and fill the winter doldrums with festive activity.

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Episode Transcript

This episode is brought to you by U. S. Bank. With U. S. Bank Business Essentials, you get more than just a bank. You get a dedicated partner that provides you a powerful combo of checking and card payment processing with quick access to the money you've earned, proving that there's nothing as powerful as the power of us. Visit usbank.com today to learn more. Member, FDIC, copyright twenty twenty five US Bank. This episode is brought to you by PayPal. Now through December 8, you can get 20% cashback when you pay in four with PayPal. No fees. No interest. This limited time offer is perfect for the Black Friday and Cyber Monday deals you've been eyeing. Whether it's the must have book or tiered cheeseboard, PayPal helps you make the most of your money. Save the offer in the app now. Expires 12:08. See paypal.com/promo terms. Subject to approval. Learn more at paypal.com/payinfour. PayPal Inc, NMLS nine 10457. Hey, Jess. Hey, Ryan. How's it going? Pretty good. How about you? Not bad. So it's Monday, December 29. Mhmm. And I know there are some people who are warming up their frigid cars right now, trying to get to work. Mhmm. And then there are some people who are cozy in their pajamas by fire and have the rest of the week off. Right. Which one of those people are you? The latter, I think, today. What about you? So I've got the I've got the pyjamas. I've got the rest of the week off. But this time of year is so chaotic that can I make a case to you for why I think Christmas and Valentine's Day should switch places? Yes. Have I not told you this yet? No. Christmas should be February 14, and Valentine's Day should be December 25. Why? The reason is because, the fall is way too crowded. You've got Halloween, less than thirty eight days later you've got Thanksgiving, then less than thirty days later you've got Christmas. It's too busy. There's too much going on. You just saw your family and traveled around Thanksgiving, and then you're gonna do it again thirty days later, and then you've got the doldrums of the wintertime, you've got January and February with, like, nothing to look forward to. It would be perfect if you just have Valentine's Day, the romance holiday, leading right into New Year's Eve, another romance holiday. You kinda get your date set up for, you know, what you're gonna do on New Year's Eve. And then January 1 comes around and that kicks off, like, six weeks of the Christmas season. And then at the bottom of winter, you know, you've got Christmas, the February. I mean, I agree with you philosophically. I think this is a great idea. I'm just not sure who you would pitch it to. The Christian tradition. Look, the Christians have done it before. They've done it before. Tell the pope. Alright. Sorry. This is …

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