在Hidden Forces第414期中，Demetri Kofinas与Mark Spindel探讨了如何通过政府政策实现收益最大化。他们首先评估了特朗普上任百日内的政策目标及其实际效果，讨论了关税引发的供应链中断、价格通胀、利率上升、资产价格下跌和美元贬值等问题。随后，节目深入分析了政府政策对市场的影响，包括政府在经济中的角色、美联储独立性的误区、政策对股债表现的影响、替代性安全资产的作用以及新税收制度对投资结果的影响。

💡 政府政策在经济中的核心作用：Demetri和Mark讨论了政府政策如何影响市场动态，特别是在供应链、通胀、利率和汇率方面的具体表现。

📉 政府政策对投资组合的影响：节目深入分析了政策变化如何影响股票和债券的表现，以及投资者如何通过理解政策来优化投资组合。

🌐 新税收制度对投资结果的影响：Spindel和Kofinas探讨了新税收政策如何改变投资回报，以及投资者如何应对这些变化以保护其投资。

📊 关税与供应链：他们讨论了特朗普政府关税政策对全球供应链的直接影响，以及这些政策如何导致价格通胀和资产价格下跌。

🌟 替代性安全资产的重要性：节目强调了在不确定的市场环境中，替代性安全资产如何为投资者提供避风港，以及这些资产在政策变化中的作用。

In Episode 414 of Hidden Forces, Demetri Kofinas speaks with Mark Spindel about monetizing government policies and how an improved understanding of their effect on markets can enhance the value and performance of your portfolio.

Demetri and Mark spend the episode's first hour evaluating Trump’s first 100 days in office, assessing his policy objectives and his effectiveness (or ineffectiveness) in turning those policies into tangible economic and political victories for his administration. They discuss:

1. Tariff-induced supply chain disruptions

2. Price inflation

3. Higher interest rates

4. Lower asset prices

5. A falling U.S. Dollar

In the second hour, Spindel and Kofinas focus on the investment implications that stem from a more accurate understanding of government policy and its effect on markets. Listeners will walk away with a deeper understanding of:

1. The government’s role in the economy

2. The myth of Fed independence

3. How policy impacts equity and bond performance

4. The role of alternative safe assets

5. The impact of new tax regimes on investment outcomes

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Producer & Host: Demetri Kofinas Editor & Engineer: Stylianos Nicolaou

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Episode Recorded on 04/29/2025