Postcards: Why I'm No Longer Cynical About Artificial Intelligence

A prime number birthday arrives, and there are a few new goals. It's shocking how simple some of them are - and what will be possible with this innovation. ͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­ Forwarded this email? [Subscribe here]() for more You are a free subscriber to Postcards from the Florida Republic. To upgrade to paid and receive the daily Republic Risk Letter, [subscribe here](. --------------------------------------------------------------- [Postcards: Why I'm No Longer Cynical About Artificial Intelligence]( A prime number birthday arrives, and there are a few new goals. It's shocking how simple some of them are - and what will be possible with this innovation. [Garrett {NAME}]( Apr 2   [READ IN APP](   Market Update: The inflation trade continues to lift gold and energy while technology remains under pressure. That said, the S&P 500 continues to see plenty of support. Keep a close eye on the Russell 2000 and critical support levels. A further decline in the Russell 2000 ETF (IWM) may signal greater volatility. But that doesn’t change the fact that there’s [one sector poised to outperform in this Era of AI.]( --------------------------------------------------------------- Dear Fellow Expat: It’s hard not to be cynical about the present. It’s just… it gets to you—all of this. America today. In an election year. The noise. The screeching. The pessimism. I chose to join “the media.” So, I’m swimming in it. Maybe that was my fault. I went to a college program with a hardcore population of deeply progressive journalists who still argue in 2024 in print and television that America sucks and that it’s irredeemable. I was the one libertarian voice, it seemed. The type of person who argues that you carve your own path - and that you’d want to run a small business in America… before you chose Kenya or Pakistan. But I digress. I’m 43 today. It's a prime number birthday… and it feels like a halfway point, if there ever was one. So, a resolution: I want to do a few things differently and be less cynical. I want to be happier. I want to scare off that temptation to drown sorrows. I want to think less about the politicians who “fail up” and still earn millions of dollars… And the educational professionals who have ruined my beloved Academia. Both groups have failed an entire younger generation economically, socially, and mentally. How did they focus so heavily on mental health… and make it even worse? If I want “change… I still believe - that it all starts with me. Today. You are your keystone in a bridge supporting many people around you. That’s why you must care for yourself… your health… and your wealth. And why - I plan to start many new activities… today. For myself… I own books that I’ve never read. Classics. They’re unopened on the shelves. There are films I’ve never seen - stories I hope to share with my daughter. There are places that I’ve never witnessed, like my all-too-consuming desire to stare at Leonardo da Vinci's painting of The Last Supper in Milan, Italy. For my health… longer walks with the dogs. There are pounds to shed. Games to play… sports to teach. Cardio to improve. Things I’ve ignored over the last few years - and I know they’re catching up on me. I still believe the same damn thing that I felt when I was 18. It’s a rule here in the Republic. “Mind your own business and keep your hands to yourself.” I have to remember another belief: You make your own fun. For my wealth… we have that covered. I just need to seek out other voices who share a similar sentiment on investing. Mission accomplished. Financial Independence Starts in the Republic It’s funny - even though I share some deep concerns about the financial markets, the economy, and our leaders… I’m not cynical about investing. At Republic Research, we view the markets through the lens of three critical variables: Insider buying, global liquidity, and market momentum. The markets are one of the few things I haven’t been cynical about for the last four years - since COVID-19 changed my perception of our financial markets. COVID exposed the truth about the unelected leaders at the Federal Reserve and the Treasury Department, who have infinitely more control over our lives than politicians. We discovered that markets are influenced primarily by capital and debt… and these systems are broken and unstable. They require constant debt refinancing. Central banks cannot reduce the monetary base because doing so would leave the globe facing deflation and debt. That doesn’t end well - look at China right now. We also know that the central bank [papers over debt with “inflation targeting”]( and papers over deflation fueled by technology. That’s the subject of the excellent book [The Price of Tomorrow](. The price of things that matter (food, housing, and real assets) will keep going up - without supply-side reform… but the price of things that don’t matter (largely technology like TVs and computer chips) go down. Here’s the thing: Artificial Intelligence will be the most deflationary technology in the history of economics. We’re talking about an 18% decline in jobs worldwide, with about seven percent of U.S. workers replaced by this technology. But… what’s so critical is that the Fed will paper over that deflation - overcoming future debt shortfalls. That new “capital” will spill back into equities over the long term. We are never getting off the Quantitative Easing train… This is how the equity market works, thanks to former Fed Chair Ben Bernanke, who in 2008 seemed to have fever dreams at night about deflation’s impact on society and real prices in America’s home values and salaries. An American Moment Investors are chasing AI stocks and semiconductor stocks with abandon. But this future wave of AI isn’t possible without a central component to hold up the industry. A Keystone… I mentioned a Keystone above and its impact on a bridge. Well, the entire Artificial Intelligence world… and the entire new economy is supported by one technology that too many people are ignoring. The new vision of America—built on new semiconductors, data centers, and a higher standard of living—requires this Keystone right now… or that future would crumble… I invite you to learn about it from [a recent letter by Porter Stansberry](. Once you understand this Keystone in the AI transition, you’ll be less cynical about the future… because this is a true “American” moment… a reason for optimism. More importantly, you’ll be [one of the few informed investors capable]( of feeling optimistic about this new technological marvel. This is a “for your wealth” moment. Embrace it. Stay positive, Garrett {NAME} Disclaimer Nothing in this email should be considered personalized financial advice. While we may answer your general customer questions, we are not licensed under securities laws to guide your investment situation. Do not consider any communication between you and Florida Republic employees as financial advice. Under company rules, editors and writers cannot recommend their positions. The communication in this letter is for information and educational purposes unless otherwise strictly worded as a recommendation. Model portfolios are tracked to showcase a variety of academic, fundamental, and technical tools, and insight is provided to help readers gain knowledge and experience. Readers should not trade if they cannot handle a loss and should not trade more than they can afford to lose. There are large amounts of risk in the equity markets. Consider consulting with a professional before making decisions with your money.   [Like]( [Comment]( [Restack](   © 2024 Garrett {NAME} 548 Market Street PMB 72296, San Francisco, CA 94104 [Unsubscribe]() [Get the app]( writing]()