Stephanie Pomboy: The Way We Invest Is Coming To An End
A secular rise in the costs of capital, labor & inputs changes everything
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The cost of capital is rising.
Inflation may be more present in future years, especially as we re-shore manufacturing.
And as we re-shore it, we are also re-introducing our economy's exposure to the natural business cycle -- something we'd largely been able to divorce our exposure to by pushing it onto other countries during the era of Globalization.
In short: the entire framework we've been accustomed to investing in is coming to an end, warns macro analyst Stephanie Pomboy.
What will the likeliest implications be?
To find out, click here or on the video below:
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Adam’s Notes: Stephanie Pomboy (recorded 9.9.25)
EXECUTIVE SUMMARY:
Jobs Market Revisions: Stephanie Pomboy analyzes the 911,000–919,000 downward jobs revision (12 months ending March 2025), signaling overstated economic strength and questioning Fed's data reliance; markets ignore it, expecting rate cuts to mitigate.
Labor Market Weakness: Quits rate collapse indicates job insecurity despite asset highs; boomers may have to “unretire” if markets correct, exacerbating unemployment (4.3% understated).
Reshoring and Globalization End: Reshoring boosts long-term growth but
