Has the Story Changed?

Has the story changed, or are we just getting nervous about the next chapter? This week, Jake takes on one of Wall Street’s favorite words: bubble. From tulip mania and house flipping to crypto and the dot-com boom, he looks at what bubbles actually have in common and asks whether today’s AI spending spree really fits the definition. Along the way, he digs into who is funding the AI boom, the massive buildout of data centers, rising interest rates, and why all that pessimism surrounding AI might not be such a bad thing. Then the conversation turns to oil flowing through the Strait of Hormuz, damaged refining capacity, and a real estate market wrestling with high borrowing costs, remote work, and shifting demand. There’s plenty to worry about, but maybe we’re worrying about the wrong things. This episode was recorded on October 23, 2026. If you would like to contact us, please send an email to us at [email protected]. We are happy to address any of your questions about Economics and Finance. If you are ready and would like to book an appointment either in office or over the phone, you can also send a message to us through the contact form on our website TPWC.com. ** The information provided in this episode is for educational purposes only and should not be considered investment advice. We are “The Personal Wealth Coach,” which is also the name of an SEC-registered investment advisory firm. However, being registered with the SEC does not authorize us to provide investment advice. Investment advice should be personalized, offered in a private setting, and be in the best interests of the individual as a fiduciary. If we make any fraudulent statements, you should report them to the SEC. The information presented in this educational episode has been obtained from sources that we deem to be reliable, but we make no warranty or guarantee as to the completeness or accuracy of said information.