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Tech Trumps Trump’s Temper Tantrums Too! I was on Bloomberg TV this morning. Link below to my interview. Main highlights are: - US potential growth at 4% by 2030 given a dozen technologies of the future where US and China lead and all other are behind - Warsh in wrong in claiming that lower inflation from AI justifies a lower Fed Funds rate as higher growth leads to higher real short and long rates - Tech Trumps Tariffs - Tech Trumps Trump’s Temper Tantrums Too as tech is first order and Stagflationary policies are second order and constrained by tight market discipline and bond/markets vigilantes - Growth at 6% by 2040 and 10% by 2050 but at that point the unemployment rate is 80% - You address that by extending more the current already large mean-tested UBI system - Otherwise you get revolution or Marxian-style collapse of capitalism due to under-consumption if most income and wealth is held by the top 10% - Everyone can be made better off with UBI; so that growth-unemployment combo is a good problem to have. https://t.co/OrbR33J0FP