What is More Expensive than $4 gas? The Negative Case Against AI Gets Stronger Every Day
Podcasts > Your Personal Bank with Ferenc Toth
Monday, November 2, 2026
Do you know what is more expensive than $4 gas?
- Paying for food and housing for people who should not be here.
- Paying for healthcare for people who jumped the border.
- Paying for military protection for people who hate us.
- Paying for infrastructure in a country you have never been to.
- Paying for student loans you never signed for.
Despite massive investments and widespread hype, Artificial Intelligence has delivered zero financial payoff outside of tech. Profit margins and revenue per employee are flat for 493 of the S&P500 companies.
Half of the S&P500 is in a bear market.
44% of the S&P500 stocks are down 20%+ from their 52-week highs. 40 companies in the S&P500 are down 40%+.
Over 1400 stocks in the NASDAQ and over 1600 of the Russell 3000 are in a bear market.
Meanwhile the S&P500 is up 15% year to date.
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