On this Weekend Show we unpack the stark divergence between all-time high stock indices, the reality of a fragile, bifurcated US economy, and portfolio management for a range of metals. Segment 1 &amp; 2 - Peter Boockvar, Chief Investment Officer at OnePoint BFG Wealth Partners and editor of The Boock Report on Substack, analyzes the stark bifurcations within both the U.S. economy and the stock market, which he notes are primarily driven by massive capital expenditure into Ai data centers while lower-income consumers and the housing sector continue to face structural stress. He highlights how these factors, along with persistent supply disruptions, contribute to an ongoing stagflationary environment. Click here to follow Peter at The Boock Report - https://peterboockvar.substack.com/ Segment 3 &amp; 4 - A special KER Market QuickTake, we share our outlook on the precious metals and commodities sectors. We start with the short term technicals for gold and assess the overall health of the mining stocks. Next, we highlight notable growth and significant investor interest within the copper and critical minerals sectors. If you enjoy the show, be sure to subscribe to our podcast feed (KER Podcast), YouTube channel, and follow us on X for more market commentary and company interviews. Don’t forget to subscribe and leave us a review! For more market commentary &amp; interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Weekend Show - Peter Boockvar & KER Market QuickTake - Economy vs Markets vs Metals

The KE Report

# Full Transcript

**Podcast:** The KE Report

## Transcript

Welcome to the Corlin Economics Report, a weekly look at financial and political topics relating to asset-based investing. Guests on this program pay no fees to appear and guests and hosts disclose any equity interest in companies' profile. Now, the Corlin Economics Report. Hey everyone, welcome to the KE Report weekend show. Corey and Chad here, your hosts for this weekend's edition.

This weekend's show we're going to first half start off by talking broad US economy, US markets, trying to decipher where the strength, where the weakness is, and hopefully make an overall assessment of are we in a strong economy or is it just a whole lot of smoke and mirrors that we're seeing? And market-wise, is it sustainable? Does it make sense that these markets continue to move to all-time highs?

Back half of the show, we're going to feature another KER QuickTake. So, Chad and my opinions on mostly the resource sector. Kicking off this show, we are chatting with Peter Boockvar. Peter is the Chief Investment Officer at 1.BFG Wealth Partners and editor of the book report on Substack.

Now, Peter, talking economy, I read your Substack every day. Every day you send out kind of a rundown of what the economic, key economic data is, market moves, earnings calls. I find it a critical read every day to keep up to date with what's going on, data-wise especially. I'm a numbers guy.

And honestly, looking at the US economy right now, and this is true at all times, you can always find pockets of strength, pockets of weakness, and you can always look inside some of those pockets of strength to find weakness or pockets of weakness to find strength. Overall, I've got to say, I'm actually pretty surprised at how strong the US economy has been doing and some of the data that showed.

So, Peter, what's your assessment of the overall US economy? Where are you seeing strength? Where are you seeing weakness? And how do you balance it out? Well, thank you for reading every day, Corey, and I hope it doesn't put you to sleep. So, to break it down, the strength of the US economy is very isolated to anything that is touching the build-out of these data centers.

And it's not just those that are selling semiconductors and data servers. It's the company that's pouring the cement. It's the steel companies. It's HVAC. It's aluminum. It's electrical equipment and other things that go into this. It's whoever's making the roof. And these workers are making decent money, and they're spending it, and they're going out for dinner and going on vacation and so forth.

So, that's really the main area of strength. If you look at GDP last year, it was 2%. GDP, if the Atlanta Fed is right for Q2 at around 3%, the growth this year is going to be about 2%, with about half of that growth coming from this data center build-out. Other area of growth, of course, is upper income spending. And anybody benefiting from the huge amount of government ...

Weekend Show - Peter Boockvar & KER Market QuickTake - Economy vs Markets vs Metals

Transcript

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Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Weekend Show - Peter Boockvar & KER Market QuickTake - Economy vs Markets vs Metals

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.