Is the New Golden Age Possible? We Do the Math. [Podcast]

The Wall Street Journal released its latest economic forecast survey.

This is where they ask leading economists what they think inflation and economic growth will be in 2025 and beyond.

The results were pretty incredible. Between the last survey, in October before the election, and this month’s survey, the predictions for US economic growth have increased dramatically.

Optimism is clearly everywhere, not just in the economic forecasts but also the labor market, stock market, etc.

One of the reasons for that, obviously, is that Americans were just promised a New Golden Age of prosperity.

We’ve written before, many times, that America’s gargantuan fiscal challenges are still fixable.

But a Golden Age? Is that really feasible?

Well, above everything else at this organization, we are intellectually honest, and we let the math be our guide. And in today’s podcast, we actually do the math at a high level and discuss whether that Golden Age actually is possible.

Spoiler alert: it is!

But it’s gong to require what I believe are modest budget cuts— roughly $300 billion— and significantly higher economic growth.

When you think about it, it’s really something to be said that the US, i.e. the most advanced economy in the world, only clocks around 2% “real” GDP growth each year.

Given America’s population growth, the literally tens of trillions of dollars of investable capital, the massive pool of talent, and innovation, 2% growth is utterly pathetic. Talk about under-achieving your potential.

It’s deregulation, ease of doing business, and tax policy that can really move the needle on that growth.

And these are all completely realistic goals.

At the same time, there are so many forces and entrenched special interests that will battle against reform. So while there’s plenty of reason to be optimistic, it’s not a forgone conclusion.

That’s why it makes so much sense to have a Plan B.

We talk about all this and more in today’s podcast, as we walk through the math on the New Golden Age.

To your freedom,

James Hickman
Co-Founder, Schiff Sovereign LLC

The Wall Street Journal released its latest economic forecast survey.

This is where they ask leading economists what they think inflation and economic growth will be in 2025 and beyond.

The results were pretty incredible. Between the last survey, in October before the election, and this month’s survey, the predictions for US economic growth have increased dramatically.

Optimism is clearly everywhere, not just in the economic forecasts but also the labor market, stock market, etc.

One of the reasons for that, obviously, is that Americans were just promised a New Golden Age of prosperity.

We’ve written before, many times, that America’s gargantuan fiscal challenges are still fixable.

But a Golden Age? Is that really feasible?

Spoiler alert: it is!

But it’s gong to require what I believe are modest budget cuts— roughly $300 billion— and significantly higher economic growth.

When you think about it, it’s really something to be said that the US, i.e. the most advanced economy in the world, only clocks around 2% “real” GDP growth each year.

It’s deregulation, ease of doing business, and tax policy that can really move the needle on that growth.

And these are all completely realistic goals.

At the same time, there are so many forces and entrenched special interests that will battle against reform. So while there’s plenty of reason to be optimistic, it’s not a forgone conclusion.

That’s why it makes so much sense to have a Plan B.

We talk about all this and more in today’s podcast, as we walk through the math on the New Golden Age.

To your freedom,

James Hickman
Co-Founder, Schiff Sovereign LLC

Given our country’s history, a new middle based on proprietary autonomous AIs would generate a level of prosperity, dynamism, and societal success an order of magnitude greater than any AI-enabled socioeconomic system without it. Decentralized economic superempowerment would also serve as a bulwark against a slide into the long night of AI-enabled tyranny. So, what do we need to do to make it inevitable rather than a possibility?

President Trump ordered the U.S. International Development Finance Corporation to provide political-risk insurance and financial guarantees for commercial shipping through the Strait of Hormuz.

He also said the U.S. Navy could begin escorting tankers “if necessary” and “as soon as possible.”

The plan is meant to restart maritime traffic after Iran’s attacks and threats helped shut down the Strait of Hormuz, the waterway that carries about one-fifth of global oil and gas flows.

Nearly 90% of Iran’s exports and roughly half of Venezuela’s oil had been making its way to Chinese buyers, much of it feeding independent refineries and price-sensitive manufacturing supply chains.

All of the prohibitions against decapitations or other catastrophic, disruptive attacks against opposition networks have evaporated. Everyone is now free to do it, and in most cases, there won’t be a response. Not only that, it’s not hard to do, so nearly everyone can (which is the reason this prohibition was put in place).

President Trump ordered the U.S. International Development Finance Corporation to provide political-risk insurance and financial guarantees for commercial shipping through the Strait of Hormuz.

He also said the U.S. Navy could begin escorting tankers “if necessary” and “as soon as possible.”

The plan is meant to restart maritime traffic after Iran’s attacks and threats helped shut down the Strait of Hormuz, the waterway that carries about one-fifth of global oil and gas flows.