Ghost GDP: The Economy Is Growing. You Just Can't Feel It.

Reflect w/ Ed Fassio — where AI tells the stories that matter. Nicole James built Snapchat's content team. Held senior creative roles for 15 years without a gap. In 2023 her company pivoted to AI and laid off half the staff. As of this year she's working retail. "I just fell off a cliff and I don't have a flashlight." In February 2026, a single Citrini Research blog post sent the Dow down 800 points in one day. It introduced the concept of Ghost GDP — economic output generated by AI that benefits the owners of compute power but never circulates through the human consumer economy. Jack Dorsey cut 40% of Block's workforce the same week. Block's stock went up 14%. The market rewarded it. The workers lost their jobs. The GDP number kept rising. Julius and Hale break down what Ghost GDP actually means, why the traditional economic counterarguments may be missing the speed of this transition, and what it looks like to fall off the cliff from the inside. Your Move: The GDP number doesn't tell you what you need to know anymore. Watch wage growth by income quartile. And if you know someone in the fall — don't tell them the economy is fine. The data says fine. Their life doesn't. — Reflect w/ Ed Fassio | reflectpodcast.com Send us Fan Mail Support the showLISTEN TO MORE EPISODES: https://www.reflectpodcast.com