The Best Ways to Invest in the Run It Hot Economy

We're in the middle of a run it hot economy. Today our discussion ranged from geopolitics into markets, including precious metals. Silver’s recent surge is best understood as a reversion toward historical gold–silver ratios rather than a knowable fundamental catalyst. Silver’s parabolic move looks unstable compared to gold’s healthier, slower uptrend. But no one can truly know why prices move, so investors should be clear about why they own precious metals since that purpose should drive allocation size and risk tolerance. We also talk macro conditions, the U.S. may be pursuing an “inflationary boom” or “run it hot” strategy to offset high debt and valuations, which would favor real assets like commodities, gold, and real estate over long-duration bonds. It's important to manage fear, avoid extreme predictions, stay diversified, and pay close attention to structure, incentives, taxes, and shifting global leadership rather than relying on narratives or past performance.

We discuss...

• Precious metals are a key focus, with gold behaving in a steady, healthy bull market while silver experienced a sharp and unstable surge.
• The gold-to-silver ratio was discussed as historically stretched and now reverting toward long-term norms, helping explain silver’s outperformance.
• Silver was highlighted as both a monetary metal and a critical industrial commodity listed by the U.S. government as strategically important.
• The parabolic nature of silver’s recent price action is risky and vulnerable to sharp pullbacks or policy interventions like margin hikes.
• Investors should define why they own precious metals—portfolio balance, trend participation, or protection against monetary risk.
• Fear-driven investing and “end of the world” thinking are harmful to rational portfolio decisions.
• The idea of an “inflationary boom” or “run-it-hot” economic strategy was presented as the likely policy path forward.
• Big tech is increasingly fragile and potentially misaligned with an inflationary-growth regime.
• International markets were noted as having recently outperformed U.S. equities despite America-first political narratives.
• Valuations in U.S. equities were described as high and structurally fragile, even as the bull market remains intact.
• Technicals and momentum are dominating fundamentals in the current market cycle.
• Tax considerations are an often-overlooked but critical factor in portfolio construction and asset selection.
• Bitcoin’s unique tax treatment and classification as property offer planning advantages versus securities.
• Be wary about complacency, overconcentration, and narrative-driven investing in a late-cycle market.

 

Today's Panelists:

Kirk Chisholm | Innovative Wealth
Douglas Heagren | Mergent College Advisors

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For more information, visit the show notes at https://moneytreepodcast.com/run-it-hot-economy-783