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This week, Steven Rattner says AI will transform the economy, but markets still do not know which companies will win. And, Austin’s rent drop is testing whether America’s housing crisis can be solved by building more. Plus, will capping graduate student loans reduce debt or limit access to education?
Later, the US-Canada tariff fight returns as global fertilizer markets are already under pressure from conflict and supply disruptions near the Strait of Hormuz.
Chapters:
00:00:00 - AI Debt Question
00:11:51 - Austin Housing Test
00:23:51 - Student Loan Reckoning
00:35:30 - Canada Weighs US Tariffs
00:47:29 - Tariffs as Tools
As President Trump weighs escalating the war with Iran, a chorus of criticism is growing louder, and it’s coming from unexpected voices. Join guest moderator Vivian Salama, Leigh Ann Caldwell of Puck, Adam Harris of Radio Atlantic, Jonathan Karl of ABC News and David Sanger of the New York Times to discuss this and more.
Nvidia (NVDA) CEO Jensen Huang continues to grow the Mag 7 giant by focusing on creating fundamental tech tools, and investing in other rising AI leaders, says Kevin Hincks. He believes both stand as pillars to power growth and expand Nvidia's moat. Tom White adds that the company's valuation and reliance from other companies in its supply chain serve as bullish catalysts. Kevin turns to a bullish example options trade for the stock while Tom offers a bearish trade.
From the director of ‘Goldman Sachs: The Bank that Rules the World’ comes a major new investigation into corruption at one of the world’s top financial institutions - HSBC.
If HSBC were a country, it would be the fifth world economic power. Founded during the golden age of the Opium trade to enable the British Empire to access the Chinese market, it has created a unique network to move dirty money around the world. From tax evasion to money laundering for the mafia and manipulation of currency, “this bank had done everything bad that a bank can possibly do."
In 2012, HSBC nearly lost its license to operate in the US for laundering the money of the Mexican and Columbian drug cartels. Criminal charges were filed and HSBC’s executives hauled before a Senate committee. But George Osborne, UK’s then Chancellor of the Exchequer, wrote to his counterpart in America and to the Chairman of the Federal Reserve to plead for leniency.
He claimed that if HSBC received a harsh punishment, it would have serious repercussions on the world’s financial and economic stability. The letter worked and HSBC was fined 2 billion euros. The equivalent of one month’s profits. As the center of international finance moves to Asia, HSBC is in prime position. It is the most Chinese of Western banks and the most European of Chinese banks.
Protected by London, blessed by Beijing, who would dare attack it?
