Labor's falling share of income and negative real compensation growth threaten the health of the consumer.
The Federal Reserve may misinterpret supply-side inflation as a demand problem, leading to a policy mistake that could end the cycle.
The willingness of non-tech companies to continue massive AI expenditures is a key vulnerability, as they will eventually need to see a clear return on investment.
The current 'productivity boom' is not translating into lower costs or higher living standards for households.
Opportunities Identified
The AI infrastructure buildout is creating significant growth for companies in the industrial and energy sectors, not just traditional tech.
The AI investment cycle appears to be in its early stages, suggesting a potentially long runway for growth in related sectors.