在Hidden Forces的第414集中，Demetri Kofinas与Mark Spindel探讨了如何通过理解政府政策对市场的影响来优化投资组合。他们评估了特朗普执政百日内的政策目标及其经济和政治成效，包括关税导致供应链中断、物价上涨、利率上升、资产价格下跌和美元贬值等问题。节目深入分析了政府在经济中的角色、美联储独立性的迷思以及政策对股票和债券表现的影响，并探讨了另类安全资产和新税收制度对投资结果的影响。听众将获得对政府政策和市场关系的更深入理解，从而制定更明智的投资策略。

💰节目首先评估了特朗普政府上任后100天的政策及其效果，重点关注了关税、通货膨胀、利率、资产价格和美元汇率等关键经济指标的变化，为后续的投资分析奠定了基础。

🏛️讨论了政府在经济中的作用，揭示了美联储独立性的神话，强调了政府政策对市场，特别是股票和债券表现的直接影响，这对于理解投资环境至关重要。

🛡️节目深入探讨了另类安全资产的作用，以及新税收制度对投资结果的影响，为投资者提供了在不同市场环境下保护和增加财富的策略。

📢通过对政府政策与市场关系的深入分析，为听众提供了制定更明智投资策略的框架，帮助投资者更好地理解和应对市场变化。

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