Ed Elson

As you point out, a lot of the private credit in there is floating rate debt, which means that if the interest rates rise, that it's gonna cause real problems.

for the servicing costs of the AI build-out.

And so we can see how this all kind of funnels down through the economy and results in the thing that investors are very worried about and don't want to happen, which is stock prices go down.

I just think that this is becoming more and more a possibility, closer to a probability.

And it seems to me that investors are kind of

downplaying the negative impacts of inflation, specifically on stocks.

And I've been wondering about why that is.

Like, why aren't investors as worried as you might think that we're seeing historically very, very high inflation that doesn't appear to be set to come down anytime soon?

Again, we've had no indication that this war is going to end because every time Trump says it's about to end, two days later, he reverses course.

And that's happened probably like seven or eight times

in the past few weeks.

So I've been thinking like, why aren't they worried?

One idea that I have in my head is maybe they're just optimistic by nature.

Maybe that's just what it means to be an investor.

Your default setting is things will work out.

It's a better bet to just bet on the outcome being a good one, because as we know, you don't make that much money shorting the market.

You certainly don't make much money not being invested in the market.

That's one reason.

The other reason, though...

is I wonder if inflation has just become inherently politicized and the politics are skewing investors' perspective where to believe that inflation is an actual problem is to believe and to admit that Trump made a mistake.