Cathie Wood: We’re Being Lied To (It’s Way Worse)
In her monthly “In The Know” update, CEO and CIO of Ark Invest Cathie Wood shared a view that other analysts and pundits are starting to express, which is that the current state of the economy and what is going on with the Fed is much worse than we are being led to believe. The recent jobs reports were on target with what was expected, however, Wood thinks the job numbers are worse than what’s being reported because it consists mainly of part-time workers. Yet, when we look at full-time employment across households, those numbers are worse. In her view, this indicates that many people are working 2 part-time jobs to make ends meet. This all leads to a weakened economy at its core, and Cathie believes the Fed doesn’t want this historic crash to occur on their watch. While the short term looks grim, Cathie still believes that artificial intelligence is the only shining light on an otherwise dark economy. The cost of production in artificial intelligence is down dramatically, despite inflation running rampant and Cathie believes since A.I. will be in every business in the near future, that buying into AI companies now will pay off big. And in her view, Crypto, particularly Bitcoin and Ethereum, fall under the umbrella of A.I./Blockchain.
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Watch the full unedited interview here ⬇ [Credits] 🙏
https://www.youtube.com/watch?v=oe1BnQw2JnQ
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🎥FOOTAGE licensed through VideoBlocks and Filmpac, except parts about the topic that have been used under fair use.
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