Winning the Global Game of Risk: The Era of Unlimited CapEx

Описание: Is the deficit actually the fuel for the next bull market? In this episode of The Money Runner, David Nelson sits down with Neil Azous, Founder and CEO of Rareview Capital Management, to break down the "Global Game of Risk."

From a potential $35 oil price target to the U.S. "speed running" 100 years of CapEx in just five years, Neil lays out a controversial and high-stakes roadmap for 2026. They discuss the massive shift in global defense spending, why the U.S. is making strategic moves in Venezuela, and the two "Black Swan" events that keep Neil up at night.

In this episode, we cover:

The Deficit Myth: Why government spending is actually a market tailwind.

Trump’s Economic Trifecta: Low rates, cheap oil, and a weak dollar.

The Defense Supercycle: Why Japan and Europe are panic-spending trillions.

The Venezuela Pivot: The secret strategy to kill inflation and secure rare earths.

The Nightmare Scenarios: What keeps traders up at night

Timestamps: 0:00 - Intro: The Deficit Horse has left the barn 1:37 - Why fiscal spending is market fuel 5:27 - Trump’s plan: $35 Oil and 1% Rates? 8:27 - The $3 Trillion Global Defense Spend 12:43 - The Global "Game of Risk": Venezuela & Rare Earths 19:41 - 100 Years of CapEx speed-run 27:38 - Equity Risk Premium & The "Endowment" Model 31:31 - Tail Risks: Quantum Computing & Negative Oil

Disclosure: "At the time of this article I currently hold shares in some of the companies mentioned as part of investment portfolios in funds I manage for Belpointe. Additionally, I may discuss other securities that are under consideration for future investment; however, discussing these securities is not a recommendation to buy, sell, or hold. My mention of these securities reflects my personal opinion and analysis at this moment and may change without notice. Please remember that all investments involve risks, including the possible loss of principal."