Jim Bianco: Why 2026 Is a COMPLETELY Different Economy – AI, Inflation & Rotation

Jim Bianco (https://x.com/biancoresearch) (https://www.biancoresearch.com/)Key highlights:Why AI is collapsing software costs to near-zero → boosting margins everywhere except Big SoftwareThe real driver behind small-cap international outperforming NASDAQImmigration shocks, de-globalization & tariffs keeping inflation "sticky"Europe’s immigration-driven political earthquake & Lagarde’s early ECB exitChina’s catastrophic mistakes (one-child policy, ghost cities, authoritarian gridlock) → bearish long-termJapan finally escaping 30-year stagnation → bullish surpriseWhy the falling USD is NOT "end of American exceptionalism" or dollar debasement panicLabor market reality check: near-zero population growth means very low job creation is now "enough"#financialmarkets #globaleconomy #stockmarket