Almost everything I've written in twenty one years of GMI traces back to two things... debt and demographics. An ageing population means slower growth, and slower growth means more debt to paper over the gap. Thats The Everything Code. But something else is now sitting on top of it. AI, robotics, energy and crypto are all hitting their exponential curves at the same time. The Exponential Age is where the debt problem and the technology collide, and what comes out the other side is a very different world. This is seven minutes on how it all fits together. The long version is in my book, out 3rd November. And until tonight, when you preorder The Everything Code I’ll send you the September GMI report free. The issue is called The New Macro, and its about what that collision looks like right now. It looks at which risks the bears are pricing wrongly, which ones could actually derail it, and the five numbers that would tell me I'm wrong. GMI is normally members only, so this is the only way most people will ever read one. How to claim it below.