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The jobs report was a barnburner. The market sold off anyway. Cathie Wood thinks the bears are looking at the wrong data.
In this month's "In The Know," ARK Invest CEO and CIO Cathie Wood makes the case that the economy is entering boom territory. Her framework: productivity (not the Phillips curve) is driving this cycle, inflation breaks to the downside and could go negative this year, new Federal Reserve Chair Kevin Warsh cuts rates into strength, the dollar turns up as the death spiral narrative unwinds, and the AI infrastructure boom pushes capital spending through a 30-year ceiling.
Key Points:
00:00:00 The Market Sold Off On A Barnburner Jobs Report
00:00:45 Kevin Warsh And The Death Of The Phillips Curve
00:02:43 Why Inflation Could Break To The Downside
00:07:33 The Dollar Death Spiral Narrative Is Wrong
00:09:59 Why Central Banks Are Dumping Treasuries
00:14:37 Money Growth Should Not Reignite Inflation
00:18:46 The Yield Curve Is Flashing Deflation
00:21:03 Could Oil Crash Like It Did In 1986?
00:23:28 Real-Time Inflation Has Already Rolled Over
00:28:09 The Coming Surprise Is Labor Shortages
00:30:33 172,000 Jobs And The Market Still Sold Off
00:35:19 Auto Delinquencies Blow Past 2008 Levels 00:37:42 Housing’s Widest Buyer-Seller Gap On Record 00:38:45 Capital Spending Breaks A 30-Year Ceiling 00:40:07 The Astonishing Economics Of AI Infrastructure 00:42:28 Gold Peaked The Day Warsh Was Appointed 00:44:52 Stocks, Gold, And Bitcoin: Cathie’s Market Read
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