What is your anticipation for AI stocks going forward?

Well, I mean, I'm sure they'll do well over time.

Again, we always have to look at time for them.

But, you know, and I've said it before and I'll say it again, I'm looking for a 40% to 60% haircut in these markets.

And that's going to start with the MAG7 and with the AI stocks that have built this whole bubble up.

And, of course, they're coming into earnings season.

And this would be as good a time for the selling to begin as any.

So so how do you see that as actually being a solution to the problems?

He says the Chinese are coming for the U.S. on the AI front, and we're going to see a lot of these companies come down drastically.

No surprise.

Listen, you saw Micron, for example, is down 30% from its high.

Palantir is down 40% from its high.

NVIDIA is not down quite that much yet, but a lot of the lesser known names, the little babies that usually charge higher first and then they break first, a lot of those little names are down 50% and 60%.

It would be no surprise that we see a massive meltdown in a lot of these AI stocks.

And again, we've got some big earnings coming out over the next couple of weeks that are going to be directly correlated to the AI space.

Okay.

What do you think this means for the Fed? You said you see the Fed hiking?

I do.

I think that they, first of all, they have to hike.

You know, if we go back in history a little bit, Ben Bernanke destroyed the Fed.

Alan Greenspan started the bubble building.

Bernanke, especially with his decision in 08, destroyed the average American.

And of course, Yellen kept it going.

What does this tell you as we're celebrating this 250th anniversary? What are the lessons that you think we need to look at here? Is that perhaps the biggest risk to our economy and to our markets that the very founding principles of America are being challenged right here in America right now?