Fireside Chat with Felix Zulauf & Jeffrey Gundlach, Moderated by Grant Williams | June 15, 2026

The global economic landscape is shifting toward a multipolar order, defined by unsustainable debt levels, rising interest rates, and systemic instability. Felix Zulauf and Jeff Gundlach argue that government intervention will increasingly dictate market outcomes through financial repression as traditional fiscal and monetary frameworks fail. The current AI-driven capital expenditure boom is approaching a critical inflection point, with diminishing free cash flow signaling a potential market correction. Furthermore, the private credit sector exhibits significant vulnerabilities, including opaque valuations, rising defaults, and dangerous interdependencies between private equity and insurance entities. As the U.S. dollar’s status as a safe haven erodes, social unrest is intensifying across Western nations, driven by the inability of existing political systems to address entitlement funding gaps and the broader economic decline.