Tom Keene

He wouldn't know DSGE theory if it hit him over the head.

So much Euclidean dynamics here.

Waller, I asked him, do we need two R-stars?

Because we got an American Norio flat on their back that is not part of this AI productivity experiment.

Are we living two R-stars right now?

Your PhD advisor, Jeff Sachs, did the book 15 years ago, folks, predicting all of this educational failure in America.

I got 20 seconds.

When's the next Rubini book?

Inflation coming up here in four minutes.

Michael Ball on deck.

But first, Jim Caron joins us from Morgan Stanley.

The note is brilliant.

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Get Jim Caron's brilliance from Morgan Stanley.

Okay, so you're out at Aeronautical Engineering at Caltech.

And the final trick question on the exam sophomore year, Jim Caron, is what does it mean if the bond markets worry, worry, hand-wringing worry, and Google can do a 100-year bond nine times over subscribed?

Jim, I

I've never seen this.

When you listen to your economics team, is the vector in goods inflation, usually it's a disinflation, and all of a sudden in the last six months, Jim Caron, I got goods inflation and rising inflation.

Is that going to reverse and get back to quote-unquote normal?