This is bad news for anyone holding dollars or counting on the system to grow its way out of debt.

• The whole economy assumes endless growth: more workers, borrowers, taxpayers, and consumers each generation.
• That growth is what let the government inflate away its debt and keep inflation manageable.
• AI is the first technology that grows the economy without needing more people.
• Fewer workers means fewer taxpayers and borrowers, so the debt can't be inflated away.
• That's why big money is moving into gold while selling the AI story to everyone else.

Outlook: Expect more focus on hard assets like gold as faith in the dollar and the growth model weakens.