Economy Flashing 1930s Warning Signs Warns Economist | EJ Antoni

Summary

EJ Antoni discusses the outlook for US economic growth amid tariff uncertainty and the possible unwinding of USMCA, warning of parallels to 1930s protectionism. He highlights how the Iran war’s oil supply shock will push consumer prices higher in the coming months even if spot oil declines, and criticizes government inflation data as systematically biased downward. Antoni also addresses calls to break up big tech, arguing that high chip demand from AI is driving up prices, and predicts AI will create more jobs than it destroys, particularly in trades. The host promotes STLLR Gold as a high-leverage gold development play.

• USMCA exit threat seen as negotiating ploy but expands tariff uncertainty, potentially dragging economic growth into the 2% range.
• Oil supply shock from Strait of Hormuz disruption to cause lagged upward pressure on food and consumer prices as reserves are refilled.
• BLS inflation and jobs data are criticized for systematic downward bias and unprecedented one-sided revisions.
• Big tech breakup proposals dismissed; surging semiconductor demand from AI is the real driver of tech product price hikes.
• AI expected to create more jobs than it eliminates, with demand rising for skilled trades and in-person services.
• Host David Lin highlights STLLR Gold for its large undeveloped Canadian gold projects and potential value at higher gold prices.