The 4 biggest tech companies on earth are about to spend $650 billion this year. Triple what they spent two years ago.

Except instead of hiring they’re spending it replacing the people who used to do those jobs.
Goldman’s already calling 20,000 AI related job losses per month in 2026.
So you’ve got GDP slowing to 1.4%, inflation reaccelerating, and the biggest employers in the world actively engineering a workforce they don’t need anymore.
The Fed can’t cut because inflation’s hot. They can’t hold forever because the economy’s slowing.
And none of their tools were built for a world where record corporate investment destroys jobs instead of creating them.
None of this is priced in yet.