Saagar Enjeti

about the United States in the aftermath of the Iran war?

Well, and they could travel up the land doing meet and greets.

They're constantly needed at malls.

So, Professor, while we have you here today, we wanted to lean into your expertise as an economist to help us assess what is going on here with the economic fallout from the Iran war.

We have some pretty interesting comments here from Kevin Hassett, who is the top economic advisor to the president, who is seeing positive signs in the fact that Americans are spending more.

Let's take a listen to that.

Well, we hope there is reason for optimism with the straight and beyond.

So, Professor, he says, oh, not only are they spending more on gas, they're spending more on everything.

That's real.

Well, we have another one for you.

Here he is talking about credit card debt.

Let's take a listen.

He assures us, sir, that the credit card companies are going to be okay.

As for the customers, he's not so sure.

I wanted to ask you more about your analysis earlier of how this is a kind of bifurcated economy.

And what I've been seeing is, you know, in previous eras, it's not like the stock market was perfectly predictive of the well-being of the average American.

But you could imagine that was at least some sort of correlation.

Now, it seems to be a reverse indicator that the better the stock market does, because it is all consolidated, concentrated into these AI tech companies, the better the stock market does, the more that the average American suffers, because what they're being rewarded for with these AI companies is their ability to replace human workers.

And I wonder if you see it the same and how you're analyzing that impact at this point.

Well, and they could travel up the land doing meet and greets.