Uploaded August 2026 | Updated September 2026, 2 weeks ago
Dave Collum, professor at Cornell University, argues that today’s market is not facing a single speculative excess but multiple bubbles stacked on top of one another. He explains why he believes the AI boom could unravel quickly, why platinum remains one of his preferred commodity trades, and why gold continues to play a major role in his portfolio. Collum also discusses the possibility of a more hawkish Federal Reserve, the relationship between interest rates and housing affordability, and why decades of cheap money could ultimately end in a painful economic reset.
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0:00 Multiple bubbles are stacking up
2:43 Why the AI boom could break quickly
7:13 Could AI starve the rest of the economy of capital?
11:31 Why Dave is bullish on platinum
15:03 Gold, silver, and Dave’s portfolio strategy
16:30 Why he started buying gold in the 1990s
23:25 How high could gold ultimately go?
25:10 Why Kevin Warsh could be “Volcker 2.0”
29:53 Higher rates, housing, and the next generation
33:22 Why homebuilders may already see trouble coming
37:57 How credit booms end in deflationary busts
43:14 Could AI IPOs mark the market peak?
45:27 Politics, Iran, and America’s changing global position
51:11 How Dave thinks investors should prepare
54:50 Dave’s next annual outlook
Copyright © 2026 Cambridge House International Inc. All rights reserved.
Dave Collum, professor at Cornell University, argues that today’s market is not facing a single speculative excess but multiple bubbles stacked on top of one another. He explains why he believes the AI boom could unravel quickly, why platinum remains one of his preferred commodity trades, and why gold continues to play a major role in his portfolio. Collum also discusses the possibility of a more hawkish Federal Reserve, the relationship between interest rates and housing affordability, and why decades of cheap money could ultimately end in a painful economic reset.
Follow Dave on X: https://x.com/DavidBCollum
Follow Darrell on X: https://x.com/MoneyLevelsShow
Follow the VRIC on X: https://x.com/vricmedia
Follow the VRIC on Instagram: instagram.com/vric_media
Learn to invest alongside the top minds in commodities. Join The Commodity University today: join.thecommodityuniversity.com/?affiliate=darrellthomas
Sign up for Jay’s newsletter at 2ly.link/211gx
0:00 Multiple bubbles are stacking up
2:43 Why the AI boom could break quickly
7:13 Could AI starve the rest of the economy of capital?
11:31 Why Dave is bullish on platinum
15:03 Gold, silver, and Dave’s portfolio strategy
16:30 Why he started buying gold in the 1990s
23:25 How high could gold ultimately go?
25:10 Why Kevin Warsh could be “Volcker 2.0”
29:53 Higher rates, housing, and the next generation
33:22 Why homebuilders may already see trouble coming
37:57 How credit booms end in deflationary busts
43:14 Could AI IPOs mark the market peak?
45:27 Politics, Iran, and America’s changing global position
51:11 How Dave thinks investors should prepare
54:50 Dave’s next annual outlook
Copyright © 2026 Cambridge House International Inc. All rights reserved.
