Housekeeping: Hartnett flow show presented two ways. Bonus at bottom
TL;DR
Leadership change underway: Gold, along with emerging-market equities — especially commodity producers — is positioned to benefit in 2026 as debasement and global rebalancing themes persist.
New regime shift: The 2020s are defined by populism, fiscal excess, policy intervention, and AI-driven disinflation, driving a rotation away from U.S. exceptionalism toward global rebalancing.
