In this live discussion, I argue that the U.S. economy is far more fragile than some people realize—and that artificial intelligence may be the unexpected trigger that pushes it over the edge. Using Federal Reserve Chair Jerome Powell’s defiant stand against political intimidation as a starting point, I lay out how close we already are to systemic failure. Powell’s refusal to bow to pressure to slash interest rates highlights just how reckless Trump’s economic policy of intimidation has become—and how easily one bad decision could ignite a broader collapse.
From there, I turn to the AI boom, which is propping up large portions of U.S. economic growth. A staggering share of reported GDP is now tied to a handful of massive tech companies betting everything on AI becoming wildly profitable and solving all of the world’s problems.
The problem? Most of these companies aren’t making money from AI at all. Investment, speculation, and circular deals are masking a bubble that looks increasingly unstable.
If that bubble bursts—whether through market reality, foreign competition, or a sudden loss of investor confidence—the fallout could be immediate and severe. Combined with political chaos, weakening institutions, and an already jittery global economy, AI may not just be the future—it may be the spark that takes the whole thing down.
