In their latest episode of the VALUE: After Hours Podcast, Brewster, Taylor, and Carlisle discuss It Always Looks Like A Soft Landing. Here’s an excerpt from the episode:
Tobias: The other one I thought was fairly interesting. So, Michael Kantro, who’s the gentleman who came up with HOPE, H-O-P-E. Housing-Something-Something-Employment. [laughs]
Jake: Something, something [laughs]
Tobias: It’s new orders, profits, and employment. Aye. I’ve had it hammered into my head enough times. No need to send me another email. He says, “It always looks like a soft landing.” So, he’s got quotes from 2007, 2000, 1990. It always looks like a soft landing.
Jake: So, everyone at this juncture says soft landing is what–?
Jake: Okay. So, we should not listen to soft landing calls then?
Tobias: The Fed’s going to engineer a soft landing.
Tobias: Maybe they will. Maybe this time’s the charm. [crosstalk] It never happened before, but you never know.
Jake: I hope so. [crosstalk]
Tobias: Surely, they are going to– [crosstalk] ChatGPT says, “Yes.”
Jake: Yes, we finally got the AI developed enough to– [crosstalk]
Tobias: I’m sorry. I’m not able to comment on that.
Bill: What? ChatGPT?
Tobias: If you ask it enough questions and it’ll start giving you political answers– Politically correct answers.
Bill: Hmm, interesting.
Jake: That is odd, isn’t it?
Tobias: What’s tuned up in the backend? It’s trained on whatever it’s trained on and it says what it says.
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