Asset markets are near all-time highs — so why does everyone feel miserable?

In this episode of Debatable at Best, Ray Ali and Amol Gharte dig into the growing disconnect between booming asset markets and everyday economic anxiety. We explore whether the U.S. is now operating in two separate economies — one thriving on high valuations and cyclical investments, and another struggling with inflation, housing affordability, and job insecurity. Is this divide sustainable, or are we setting ourselves up for a reckoning?

We debate whether the current AI boom is a genuine productivity revolution or just another cycle inflating already-high asset prices. Along the way, we revisit Trump’s first year in office, unpacking the real impact of tariffs, stimulus che ...