Wealthion - Be Financially Resilient

Roughly six vessels moved through the Strait of Hormuz in a day, down from 130 to 140 before the war, and Art Berman says Persian Gulf oil production is down about 10 million barrels a day. His case: this is a bigger supply shock than COVID, and markets are barely pricing it.
Geologist and energy consultant Art Berman returns to Wealthion with Maggie Lake to explain why the oil market looks calm on the surface while the plumbing underneath has changed dramatically. He argues the ceasefire optimism is misplaced, that markets are not wrong so much as focused on the wrong part of the system, and that the real story sits in upstream production, not tanker traffic through the Strait of Hormuz.

What Berman covers:
- Why Hormuz flows may not return to even half of pre-war levels before the middle of 2027
- Why markets are not getting it wrong, and what the shift in the futures curve is really signaling
- How the oil market always clears, and why demand reduction is the ultimate default
- Upstream, midstream and downstream: the distinction most headlines miss
- The figure almost no one is discussing: Persian Gulf production down around 10 million barrels a day
- Why, by one measure, this is a larger supply shock than COVID

Chapters:
00:00 Art Berman: The Energy Order Is Breaking
00:54 Strait of Hormuz Crisis: Why Conditions Are Getting Worse
03:57 Oil Markets, Iran and the Risk Investors Are Pricing
10:05 Why Demand Destruction Becomes the Ultimate Solution
13:18 10 Million Barrels a Day of Oil Production Shut In
16:24 Oil Stocks vs. Flows: What Investors Are Missing
22:09 Hormuz, Panama Canal & the New Geopolitics of Choke Points
27:18 Why a Middle East Deal Won’t Quickly Restore Oil Flows
30:21 Why Shut-In Oil Production May Never Fully Recover
34:08 Art Berman Warns of an Unprecedented Energy System Shock
38:16 The Post-WWII Energy Order Is Unraveling
43:17 Oil Prices, Market Risk & How Price Discovery Really Works

💡 From the Strait of Hormuz and millions of barrels of shut-in production to the unraveling of the postwar energy order, Art Berman explains why this is far more than a temporary oil shock — and why the global energy system may never return to what it was before. Join the Wealthion community for more conversations on the forces shaping markets and how to protect and grow your wealth: https://bit.ly/4woj119

💡 Want to hear more from Art Berman? Explore his latest research, analysis, and insights on energy markets, oil, geopolitics, and the forces reshaping the global energy system at ArtBerman.com: https://www.artberman.com/contact/

Connect with us online:
Website: https://www.wealthion.com
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#ArtBerman #OilPrices #EnergyMarkets #StraitOfHormuz #Iran #MiddleEast #OilMarket #EnergyCrisis #Geopolitics #CrudeOil #OilSupply #EnergySecurity #GlobalMarkets #Investing #MarketOutlook
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IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.

While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.

We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.

The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust.
Learn more about your ad choices. Visit megaphone.fm/adchoices

The U.S. jobs market is cooling — but mining has a very different labor problem: finding the right talent.

Veteran geologist and mining expert Steven Enders joins Maggie Lake to explain why the quality of people and management teams can make or break a mining project — even as the industry faces enormous demand for critical minerals.

Enders breaks down the looming copper supply gap, why new mines remain so difficult to build, where we may be in the commodity cycle, and why AI can help the mining industry — but won’t solve its biggest problems.

Plus: why he’s skeptical of mining project forecasts, what investors should look for in management teams, and the warning signs that tell him a commodity cycle may be getting mature.

Topics include:
• U.S. jobs market and mining’s talent challenge
• Copper demand and the global supply gap
• Mining stocks and commodity cycles
• How to evaluate mining management teams
• AI in mining and mineral exploration
• Capex, opex and why mining projects run over budget
• M&A and signs of a mature commodity cycle

💡 From a looming copper supply gap to mining’s hidden talent problem, Steven Enders explains why finding the right people may be just as critical as finding the right resources — and why AI alone won’t solve the industry’s biggest challenges. Join the Wealthion community for more conversations on the forces shaping markets and how to protect and grow your wealth: https://bit.ly/4wiKgKv

Chapters:
00:00 Copper, Talent & Mining’s Biggest Challenges
00:40 The Looming Copper Supply Deficit
02:12 Why Steven Enders Is Bullish on Copper
03:43 Mining’s Hidden Talent Problem
05:38 How to Evaluate a Mining Management Team
07:58 Critical Minerals & Government Support
08:50 Can AI Transform Mining and Exploration?
10:51 M&A, Commodity Cycles & “The Crazies”
12:54 Mining Volatility & Long-Term Investing
14:56 Why Mining Project Costs Are Often Too Low

Connect with us online:
Website: https://www.wealthion.com
X: https://www.x.com/wealthion
Instagram: https://www.instagram.com/wealthionofficial/
LinkedIn: https://www.linkedin.com/company/wealthion/

#Copper #Mining #Commodities #Jobs #CriticalMinerals #AI #Investing
________________________________________________________________________

IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.

While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.

We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.

The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust.
Learn more about your ad choices. Visit megaphone.fm/adchoices

The U.S. economy has survived higher rates, tariffs, inflation, geopolitical shocks and repeated recession warnings. Ed Yardeni says there’s a reason: the American consumer remains remarkably resilient.

In this conversation, Yardeni explains to Maggie Lake why he believes the economy could stay strong through the end of the decade — but warns that the Federal Reserve now faces a serious credibility test as inflation remains above target.

We discuss why Yardeni thinks the Fed should move in September, the return of the “bond vigilantes” — a term he coined in 1983 — the risks building in Japan, and what the next inflation report could mean for markets.

Yardeni also lays out his provocative “G-shaped economy” thesis: older, asset-rich Americans are thriving and spending, while younger generations continue to struggle with housing and affordability.

Topics include:
• Why Yardeni calls the U.S. consumer “bulletproof”
• The Fed’s September decision and inflation risk
• The return of the “bond vigilantes” — and why long-term yields could revolt
• Japan and the threat of a renewed currency crisis
• The “G-shaped economy” and America’s generational divide
• What investors should watch in the next CPI report

💡 From a “bulletproof” consumer to renewed pressure from the bond vigilantes, Ed Yardeni explains why the U.S. economy remains remarkably resilient — and why the Fed’s credibility could soon be tested. Join the Wealthion community for more conversations on the forces shaping markets and how to protect and grow your wealth: https://bit.ly/4wiKgKv

Chapters:
00:00 Cold Open
00:16 Ed Yardeni on the U.S. Economy
00:43 Why This Economy Refuses to Break
02:17 The “Bulletproof” American Consumer
04:24 Bond Vigilantes & the Risk of a Debt Revolt
08:56 Is Inflation About to Become a Bigger Problem?
10:53 The Fed’s Credibility Is on the Line
12:43 Yardeni’s “G-Shaped Economy”
14:42 “Intergenerational Theft” & America’s Wealth Divide
18:07 How Fragile Is the U.S. Treasury Market?
20:27 Japan’s Currency Crisis Risk
21:50 The Next CPI Report Could Test the Fed

Connect with us online:
Website: https://www.wealthion.com
X: https://www.x.com/wealthion
Instagram: https://www.instagram.com/wealthionofficial/
LinkedIn: https://www.linkedin.com/company/wealthion/

#Wealthion #Wealth #Finance #Investing #PortfolioReview #InvestmentAdvice #FinancialPlanning #WealthManagement
________________________________________________________________________
IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.

While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.

We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.

The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust.
Learn more about your ad choices. Visit megaphone.fm/adchoices

Could your state make it more expensive to leave—or tax wealth you haven’t even sold? Chris Casey, founder of WindRock Wealth Management, breaks down the growing push for wealth taxes, exit taxes, taxes on unrealized gains, and new pressures facing real estate owners. He explains why cash-strapped states may increasingly target wealthy residents for revenue, why those policies could drive taxpayers elsewhere, and why he believes the impact may eventually reach far beyond the ultra-wealthy.

Casey also explains what investors and property owners should be watching as state tax policies become more aggressive.

💡 From exit taxes to wealth taxes and new pressure on real estate, Chris Casey warns that state-level tax policy could have much broader consequences for investors. Join the Wealthion community for more conversations on how to protect and grow your wealth: https://bit.ly/4xpoGF4

💡 Want to learn more about Chris Casey and his work on wealth protection, tax risk, and portfolio strategy? Explore his background at WindRock Wealth Management: https://www.youtube.com/watch?v=l2DdcqtoBYs

Chapters:
00:00 Wealth Taxes, Exit Taxes & Real Estate Under Attack
00:23 What Is Financial Repression?
00:50 Exit Taxes: Could You Be Taxed for Leaving a State?
01:32 Could State Exit Taxes Become More Common?
01:54 Why Wealthy Americans Are Moving to Lower-Tax States
02:16 How Wealth Taxes Could Work
02:34 California’s Proposed Wealth Tax Explained
02:59 Why Wealth Taxes Could Drive Taxpayers Away
03:37 Are Wealth Taxes Spreading to Other States?
03:56 Could Exit Taxes Be Applied Retroactively?
04:16 Could Wealth Taxes Go Federal?
04:40 Do Wealth Taxes Actually Work?
05:35 Could These Tax Proposals Become Law?
06:08 How Wealth Taxes Could Hit Real Estate
06:53 Taxing Unrealized Real Estate Gains
07:14 New Taxes on Homes, Condos & Property
07:33 Why Chris Casey Says Real Estate Is Under Attack
08:02 “Eventually This Is Going to Hurt Everybody”

Connect with us online:
Website: https://www.wealthion.com
X: https://www.x.com/wealthion
Instagram: https://www.instagram.com/wealthionofficial/
LinkedIn: https://www.linkedin.com/company/wealthion/

#WealthTax #ExitTax #RealEstate #Taxes #Investing #WealthManagement #ChrisCasey #MaggieLake #Wealthion
________________________________________________________________________
IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.

While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.

We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.

The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust.
Learn more about your ad choices. Visit megaphone.fm/adchoices

Could your state make it more expensive to leave—or tax wealth you haven’t even sold? Chris Casey, founder of WindRock Wealth Management, breaks down the growing push for wealth taxes, exit taxes, taxes on unrealized gains, and new pressures facing real estate owners. He explains why cash-strapped states may increasingly target wealthy residents for revenue, why those policies could drive taxpayers elsewhere, and why he believes the impact may eventually reach far beyond the ultra-wealthy.

Casey also explains what investors and property owners should be watching as state tax policies become more aggressive.

💡 From exit taxes to wealth taxes and new pressure on real estate, Chris Casey warns that state-level tax policy could have much broader consequences for investors. Join the Wealthion community for more conversations on how to protect and grow your wealth: https://bit.ly/4xpoGF4

💡 Want to learn more about Chris Casey and his work on wealth protection, tax risk, and portfolio strategy? Explore his background at WindRock Wealth Management: https://www.youtube.com/watch?v=l2DdcqtoBYs

Chapters:
00:00 Wealth Taxes, Exit Taxes & Real Estate Under Attack
00:23 What Is Financial Repression?
00:50 Exit Taxes: Could You Be Taxed for Leaving a State?
01:32 Could State Exit Taxes Become More Common?
01:54 Why Wealthy Americans Are Moving to Lower-Tax States
02:16 How Wealth Taxes Could Work
02:34 California’s Proposed Wealth Tax Explained
02:59 Why Wealth Taxes Could Drive Taxpayers Away
03:37 Are Wealth Taxes Spreading to Other States?
03:56 Could Exit Taxes Be Applied Retroactively?
04:16 Could Wealth Taxes Go Federal?
04:40 Do Wealth Taxes Actually Work?
05:35 Could These Tax Proposals Become Law?
06:08 How Wealth Taxes Could Hit Real Estate
06:53 Taxing Unrealized Real Estate Gains
07:14 New Taxes on Homes, Condos & Property
07:33 Why Chris Casey Says Real Estate Is Under Attack
08:02 “Eventually This Is Going to Hurt Everybody”

Connect with us online:
Website: https://www.wealthion.com
X: https://www.x.com/wealthion
Instagram: https://www.instagram.com/wealthionofficial/
LinkedIn: https://www.linkedin.com/company/wealthion/

#WealthTax #ExitTax #RealEstate #Taxes #Investing #WealthManagement #ChrisCasey #MaggieLake #Wealthion
________________________________________________________________________
IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.

While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.

We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.

The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust.
Learn more about your ad choices. Visit megaphone.fm/adchoices