The Rate Hikes Are Coming

I think it is time to start reckoning with this possibility of forever inflation. We're going to see 3, four, 5% inflation in the United States for a sustained period of time, possibly forever, because it's not just the problems we're seeing now, but we're [music] looking at leadership's response to those problems, and they don't seem

to really care. They seem to think that the way we're going to get out of this debt spiral [music] is to spend our way out of it, to spend all the money on the bond buybacks to get the yields down, which in of course over the long term makes [music] the problem even worse.

Today's number 95. That's a percentage of finance students [music] who identify as straight of any college major. True story. We had my ex-wife decided we should have an open relationship and the rules were we could have sex with anybody and we would never see each other again. >> How are you, Ed? >> Doing very well. How are you?

>> I'm doing well. It's a beautiful day here in London. I'm unfortunately heading out again on Sunday to the West Coast for my first regent meeting which I'm excited about. >> Yeah, maybe explain a little bit the situation there. Oh, Ed, I don't like to talk about that stuff. I I wish you

hadn't brought it up. I wish you hadn't brought it up. Now, we're talking about all kinds of interesting stuff. >> What are the regions? What is that? >> The regions are the board of directors that oversee the University of California. And what I didn't realize, and most people don't realize, is that it's a $54 billion enterprise. And about

35 billion of it is the hospital system. Basically, the University of California can be fairly called a hospital system or healthcare system that offers classes. I did not know that. >> I did not know that either. >> It's also the greatest economic elevator in history, which is why I'm excited to be on