Morgan Stanley recently came out with their 3 Themes that will impact markets for many years : longevity, AI tech diffusion, and decarbonization , i.e. the transition from hydrocarbon fuels to so-called “green energy.”
That’s the status quo: everything’s great! Pills that cost $1,000 a month will make us live longer, AI will increase corporate profits (which is the entire point of the economy, of course) and those who invest in the “green energy” transition will be rewarded with fabulous wealth. That all sounds peachy, but the real world will be defined by four much different themes: sclerosis, dysfunction, debt saturation and power asymmetry .
1. Sclerosis: the same old nodes of power cling onto power and so nothing changes because nothing can change: those in power must maintain or expand their power, regardless of what comes along, and that sclerosis is the systemic problem that cannot be resolved.
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