We return after a brief hiatus to catch up on a whirlwind of recent headlines, from political drama to bizarre claims about aliens, before turning to the Supreme Court’s consideration of birthright citizenship and the broader question of executive power versus congressional authority. We examine how Congress has gradually ceded its responsibilities on issues like tariffs, war powers, and immigration, and what that means for the balance of power in government. We then head to Ireland, where one enterprising citizen used AI to track the true price of a pint of Guinness, before moving to Texas for our Foolishness of the Week, where a congressional race has taken an unusual turn as a candidate campaigns by performing at quinceañeras. Finally, we dive into financial bubbles, exploring how markets price uncertainty, why emerging technologies like AI attract massive investment despite unclear outcomes, and how bubbles function as part of the process of discovering what new innovations are actually worth.
00:00 Introduction: A Month of Chaos
02:43 Supreme Court, Birthright Citizenship, and Trump’s Presence
03:45 Executive Power vs Congressional Authority
06:16 Why Congress Keeps Ceding Its Power
09:09 Can a System This Large Even Function?
10:17 Ireland’s Guinness Price Investigation with AI
13:04 Foolishness of the Week: Texas Campaigning at Quinceañeras
16:04 Redistricting, Demographics, and Political Miscalculations
18:11 Financial Bubbles and Why Economists Ignore Them
19:17 The “Real Economy” vs Financial Markets
22:24 Pricing the Unknown: Cars, Dot-Coms, and AI
24:56 AI Investing, Speculation, and Bubble Pricing
26:53 AI as the Next Internet and Technological Integration
30:53 Amazon, Spillover Innovation, and Unexpected Winners
37:22 Consumer Power, Corporate Fear, and Market Discipline
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