Analyzing Finance with Nick

Why Everything Feels More Expensive Than Inflation Says It Should

Nick explains why he’s generally not worried about a U.S. sovereign debt default, arguing the national debt has been reduced in real terms through “financial repression,” where inflation runs above the government’s interest costs. He challenges headline and core CPI as understating true inflation—especially due to the use of owner’s equivalent rent for housing—and describes his alternative “Pardini CPI” built with the government’s weightings but private-sector data (e.g., apartment rent and Zillow home prices). Join My Substack and Email List: https://nickpardini.substack.com/ Website: http://nickpardini.com Schedule a Consultation: https://forms.gle/X4PRyPn2gWjudtBw9 Link to Upcoming Tour Locations: https://www.eventbrite.com/o/80560975783 Get Old Money Reading List: https://nickpardini.substack.com/subscribe Podcast: https://open.spotify.com/show/3e5cwqQ9Qr2raeqEdjs4JQ AF with Nick Tour Survey: https://forms.gle/cFeyBNBcCS6jz5f7A Private Dinner and Events Application: https://forms.gle/NJhDqSX7N22xuwXJ6 Website: http://nickpardini.com AF with Nick Tour Survey: https://forms.gle/cFeyBNBcCS6jz5f7A Become a Member for Early Releases and Bonus Videos: https://www.youtube.com/channel/UC7TEgC3UwJ2wI6m40rJOAFA/join Email Questions to askafundmanager@gmail.com Advertising Inquiries: https://redcircle.com/brands [https://redcircle.com/brands] Privacy & Opt-Out: https://redcircle.com/privacy [https://redcircle.com/privacy]

AI and Jobs: Who Wins and Who Loses

In today's rapidly evolving world, artificial intelligence (AI) is poised to significantly reshape the labor market landscape. As we delve into this topic, we explore who stands to win and lose in this inevitable shift, touching upon the profound implications for both blue and white-collar workers globally. Join My Substack and Email List: https://nickpardini.substack.com/ Website: http://nickpardini.com Schedule a Consultation: https://forms.gle/X4PRyPn2gWjudtBw9 Link to Upcoming Tour Locations: https://www.eventbrite.com/o/80560975783 Get Old Money Reading List: https://nickpardini.substack.com/subscribe Podcast: https://open.spotify.com/show/3e5cwqQ9Qr2raeqEdjs4JQ AF with Nick Tour Survey: https://forms.gle/cFeyBNBcCS6jz5f7A Private Dinner and Events Application: https://forms.gle/NJhDqSX7N22xuwXJ6 Website: http://nickpardini.com AF with Nick Tour Survey: https://forms.gle/cFeyBNBcCS6jz5f7A Become a Member for Early Releases and Bonus Videos: https://www.youtube.com/channel/UC7TEgC3UwJ2wI6m40rJOAFA/join Email Questions to askafundmanager@gmail.com Advertising Inquiries: https://redcircle.com/brands [https://redcircle.com/brands] Privacy & Opt-Out: https://redcircle.com/privacy [https://redcircle.com/privacy]

Is Boomer Leisure Spending Carrying the Economy?

The Silver Economy: How Aging America Is Reshaping Housing, Spending, and Politics From Scottsdale, this episode discusses the rise of the “silver economy” as spending and wealth shift toward Americans 55+, while younger households get squeezed by rising necessities like housing, healthcare, and education. It teases how this demographic flip is changing consumer markets, the business cycle, and the politics of inflation, real estate, and Social Security—and why AI and robotics could be the wildcard that reshapes what happens next. Join My Substack and Email List: https://nickpardini.substack.com/ Website: http://nickpardini.com Schedule a Consultation: https://forms.gle/X4PRyPn2gWjudtBw9 Link to Upcoming Tour Locations: https://www.eventbrite.com/o/80560975783 Get Old Money Reading List: https://nickpardini.substack.com/subscribe Podcast: https://open.spotify.com/show/3e5cwqQ9Qr2raeqEdjs4JQ AF with Nick Tour Survey: https://forms.gle/cFeyBNBcCS6jz5f7A Private Dinner and Events Application: https://forms.gle/NJhDqSX7N22xuwXJ6 Website: http://nickpardini.com AF with Nick Tour Survey: https://forms.gle/cFeyBNBcCS6jz5f7A Become a Member for Early Releases and Bonus Videos: https://www.youtube.com/channel/UC7TEgC3UwJ2wI6m40rJOAFA/join Email Questions to askafundmanager@gmail.com Chapters: 00:33 What Is Silver Economy 01:08 Why Young Spend Less 03:36 Wealth Shift By Age 05:10 Inequality And Compounding 08:05 Boomer Driven Business Cycle 13:48 Housing And Inflation Politics 19:08 Wealth Transfer Market Risks 21:39 Healthcare And Tourism Peaks 23:54 Social Security Realignment 27:20 AI Robotics Silver Lining Disclaimer: Anything in this channel is for informational and educational purposes only and is not investment advice. All information contained herein is based upon information available to the public. No representation is made that it is accurate or complete. No mention of a particular security, index, derivative, or other instrument on this channel is an offer to buy or sell or a solicitation of an offer to buy or sell the securities mentioned herein, nor does it constitute an opinion of the suitability and appropriateness of investing in any financial instrument. Please consult your investment advisor and do you own research before making any trading or investment decisions. Nothing in this video implies that any returns are guaranteed. Markets are volatile and often unpredictable. Advertising Inquiries: https://redcircle.com/brands [https://redcircle.com/brands] Privacy & Opt-Out: https://redcircle.com/privacy [https://redcircle.com/privacy]

You Can Predict Someone’s Class by How Far Ahead They Plan

In this enlightening talk, we delve into the concept of time preference, exploring how the willingness to delay gratification impacts long-term outcomes in life, economics, and social class structures. Discover why individuals with a high time preference often face suboptimal life outcomes, and how different social strata—from lower class to old money elites—demonstrate varying time horizons in their planning. Learn about the broader implications for businesses and institutions, and how short-term thinking can undermine long-term growth and stability. This episode provides valuable insights into the behavioral traits that define success and resilience, both individually and collectively. Join My Substack and Email List: https://nickpardini.substack.com/ [https://www.youtube.com/redirect?event=video_description&q=https%3A%2F%2Fnickpardini.substack.com%2F&redir_token=QUFFLUhqbEQ2dFZGdmRENC13TDZUNGZ6MFprMmozdjk5Z3xBQ3Jtc0tuTkZkTHFROHh0VFJQM2VLejk4WUo5anB0OG9fRnowZHZtajc1TGN3UUdZbzhmUDV1MFNBNDZtd0ppbDlZY1BUQktBUDlaM0sxdTV3bTFLNkRrUkJDWF96dFJZU2dNZEdyV3J5MkdMSjZpTEotMTBicw&v=3ff-CM6XxnY] Website: http://nickpardini.com [https://www.youtube.com/redirect?event=video_description&q=http%3A%2F%2Fnickpardini.com%2F&redir_token=QUFFLUhqa3I1VnVuR25lRFNjazQ2R1J1ZDNYcFRnaUtIZ3xBQ3Jtc0tsdnFXaVBhT0I5RTFnR0QzWkw2dE5iWk5hVWRsNV9iZS01Q0tGN2oxWlpRVlplOVo2X0NXUV9yZTlDa3pvQzRFMzk5dWVXNUlQUUZ0WDh2WXlaMmVGZ1RSUnBZeE81N1hRYU1mMHdHZGw3Zy1iQ2J4cw&v=3ff-CM6XxnY] Schedule a Consultation: https://forms.gle/X4PRyPn2gWjudtBw9 [https://www.youtube.com/redirect?event=video_description&q=https%3A%2F%2Fforms.gle%2FX4PRyPn2gWjudtBw9&redir_token=QUFFLUhqbGR2bldqblFka0RiYk5XNy00YUVmaXQ0blltQXxBQ3Jtc0ttcldlaDVnOXdzYjVtM0pZNlVuc19GR3dGWm81dXJ2Q2RrSHU4RzJodm5JRXAyaGlOTEJqMlpzQW9ubGkxSjJTdkp0TlJSeEV4TzIzTVBwNy1TcTQtM3o5VEJwVEF2OFZITlhxeHFqSG5rR2ZWMXZFOA&v=3ff-CM6XxnY] Link to Upcoming Tour Locations: https://www.eventbrite.com/o/80560975783 [https://www.youtube.com/redirect?event=video_description&q=https%3A%2F%2Fwww.eventbrite.com%2Fo%2F80560975783&redir_token=QUFFLUhqa2VlQ1k4R21SNENmU1RMb3gzOGFPdFBVMWV6QXxBQ3Jtc0ttbFZGdmdWRUFwRnJ5clQwY0F6OHcwOE5STGV2ZVdheWhlMDI2R1lLNVU3RkVkM0lyczFIWVNDVkUxOUFUM0VwZXhhSnRYT2l2QVFPWk1VVDlvYW0wY2hpSF9OREJ4N2dHUWxqdGN1N0JzT29mR1VkNA&v=3ff-CM6XxnY] Get Old Money Reading List: https://nickpardini.substack.com/subs... 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[https://www.youtube.com/redirect?event=video_description&q=https%3A%2F%2Fopen.spotify.com%2Fshow%2F3e5cwqQ9Qr2raeqEdjs4JQ&redir_token=QUFFLUhqa0p5NmJVemNxNmtHYjZsMmRrWnNxcDFXTVNSUXxBQ3Jtc0traWNxOFNpUFhNZ2Q4RXZWb2NOYkVISmdTeS1tcXR1RmZqaGs2TTVwQzllX09TX293RkV4RUpmS0VOX05nbExyc0ZhbnpqcThTY3NiV2RDNnJmbFJjMS12LU5ET2NCenhHYjhBR183NHUyTFVzSWhaaw&v=3ff-CM6XxnY] AF with Nick Tour Survey: https://forms.gle/cFeyBNBcCS6jz5f7A [https://www.youtube.com/redirect?event=video_description&q=https%3A%2F%2Fforms.gle%2FcFeyBNBcCS6jz5f7A&redir_token=QUFFLUhqbXdmRmlVY0VRZHdjTkx1ankzekV5czNhR0F6Z3xBQ3Jtc0tseDVlSDUxUVlOSnJfNWZIbzNwRVVwcWpZYkdrN3NtLTBKU1ZEWkpBWklxUzNXQzg4bFU5d0VreWlaN2p2NXJFWTZSTVcxYXJ3eFgzX2k4OWNDb3c3eFJ2Zy1YXzcwVGFLbEtZQlJTREZ3SHVfMkhaRQ&v=3ff-CM6XxnY] Private Dinner and Events Application: https://forms.gle/NJhDqSX7N22xuwXJ6 [https://www.youtube.com/redirect?event=video_description&q=https%3A%2F%2Fforms.gle%2FNJhDqSX7N22xuwXJ6&redir_token=QUFFLUhqbjF6MWdaMkZEM2tKWEMxX1BRMjFzTGlGWWZCd3xBQ3Jtc0trSW1YdXQ1aE5pZUZTVmwzWXZiNXFDcV81UmhLdFZla29PbUhjRGpBMnNxQW1MaWhSaTFGSXZvMDZuYm9zOXEwbjFrNHA1V3ppdEpkdWRQTzVSUk5JeUpYbmVvRkdsaGFybWx5eHN3aExJMkt6RWNnWQ&v=3ff-CM6XxnY] Website: http://nickpardini.com [https://www.youtube.com/redirect?event=video_description&q=http%3A%2F%2Fnickpardini.com%2F&redir_token=QUFFLUhqbFk1dnRvYmtZTWJJUDZOVXZOVzFCTXo0QXJQZ3xBQ3Jtc0ttLXl5Q0F3SVZqYlBUS0hnamhUZEJLSFJQbW9aQldQdzVuOGhMYThNRzFLUHNkU2dTMk5TSjJfNHdjZG45RmE4YklXdXJTRHVpckNLcksyMUNhZE4xQjBtMkFlcmhsbUkwLTdsWk9WekJtUFBHZUNETQ&v=3ff-CM6XxnY] AF with Nick Tour Survey: https://forms.gle/cFeyBNBcCS6jz5f7A [https://www.youtube.com/redirect?event=video_description&q=https%3A%2F%2Fforms.gle%2FcFeyBNBcCS6jz5f7A&redir_token=QUFFLUhqblB5WmdramtBUmdaNGRTeUpEclkxZjF1T0hiQXxBQ3Jtc0tsQ1BVRU04N1dGN1NxaDJsUXptVU9Uakh4OEdmSkRuMUJMZEFjUU5tc3F4SzlicUN1cGdXSEk3SVVrbktjd0Qwb3gzNnlnNjI0d2NQc2RWZnE5S09YdlRqX05sTFgza0EyanpwWl9GSmJtUjhWZ3Fjcw&v=3ff-CM6XxnY] Become a Member for Early Releases and Bonus Videos:    [https://www.youtube.com/channel/UC7TEgC3UwJ2wI6m40rJOAFA/join][https://www.gstatic.com/youtube/img/watch/yt_favicon_ringo2.png]https://www.youtube.com/channel/UC7TEgC3UwJ2wI6m40rJOAFA/join / @afnick   [https://www.youtube.com/channel/UC7TEgC3UwJ2wI6m40rJOAFA/join] Email Questions to askafundmanager@gmail.com Chapters: 00:00 [https://www.youtube.com/watch?v=3ff-CM6XxnY] Understanding Time Preference 00:47 [https://www.youtube.com/watch?t=47s&v=3ff-CM6XxnY] The Marshmallow Test and Social Class 01:23 [https://www.youtube.com/watch?t=83s&v=3ff-CM6XxnY] Impact of Time Preference on Life Outcomes 02:33 [https://www.youtube.com/watch?t=153s&v=3ff-CM6XxnY] Behavioral Examples of Time Preference 05:56 [https://www.youtube.com/watch?t=356s&v=3ff-CM6XxnY] Time Preference in Social Classes 09:18 [https://www.youtube.com/watch?t=558s&v=3ff-CM6XxnY] Challenges and Rebuttals 10:42 [https://www.youtube.com/watch?t=642s&v=3ff-CM6XxnY] Institutional Time Preferences Citations: The Marshmallow Study: https://www.thoughtco.com/the-marshma... [https://www.youtube.com/redirect?event=video_description&q=https%3A%2F%2Fwww.thoughtco.com%2Fthe-marshmallow-test-4707284&redir_token=QUFFLUhqbklOaVp3eXN0cVZNQW9ibm9YaG1EcDU0aEhTUXxBQ3Jtc0tuVlREYmp4b1J1WnFtSnFHRmFUYWs2enEwVmlFbFMxUkRwSlFVTHcwaC1vcWRrZ2l4cHpjRUJ6M25sVy1ieVdtb1UzTEFOdHFvUS16eTlWb0pIN3VfYnRXZEdMT0NFSHgtVUlvN1lGWjFSa2R1RGlFOA&v=3ff-CM6XxnY] Success of Family Owned Companies:    [https://www.youtube.com/watch?v=kl1HiknQDwE][https://www.gstatic.com/youtube/img/watch/yt_favicon_ringo2.png]https://www.youtube.com/watch?v=kl1HiknQDwE • How Many Founding Families Still Own Their...   [https://www.youtube.com/watch?v=kl1HiknQDwE] Disclaimer: Anything in this channel is for informational and educational purposes only and is not investment advice. All information contained herein is based upon information available to the public. No representation is made that it is accurate or complete. No mention of a particular security, index, derivative, or other instrument on this channel is an offer to buy or sell or a solicitation of an offer to buy or sell the securities mentioned herein, nor does it constitute an opinion of the suitability and appropriateness of investing in any financial instrument. Please consult your investment advisor and do you own research before making any trading or investment decisions. Nothing in this video implies that any returns are guaranteed. Markets are volatile and often unpredictable. Advertising Inquiries: https://redcircle.com/brands [https://redcircle.com/brands] Privacy & Opt-Out: https://redcircle.com/privacy [https://redcircle.com/privacy]

Is There Such Thing as an Honest Billionaire?

Speaking in West Palm Beach, Nick evaluates the claim that billionaires shouldn’t exist or must be corrupt, noting there are about 3,000 billionaires worldwide (900–1,000 in the U.S.) as of late 2025. He proposes criteria for “dishonest” wealth—inheritance (excluded from “earned”), securities fraud, partner betrayal, government corruption/state capture, self-dealing, IP theft, or reliance on political protections—and estimates “clean” billionaires at about 40% in the U.S. but under 10% elsewhere, with roughly seven of the top 20 being clean and self-made. He argues U.S. systems enable more honest wealth creation than regions with stronger patronage networks and high-tax structures, gives an example of license-based corruption in developing countries, and contrasts cleaner sectors (U.S. finance/real estate) with dirtier ones (IP-heavy startups and international supply chains). Join My Substack and Email List: https://nickpardini.substack.com/ Website: http://nickpardini.com Schedule a Consultation: https://forms.gle/X4PRyPn2gWjudtBw9 Link to Upcoming Tour Locations: https://www.eventbrite.com/o/80560975783 Get Old Money Reading List: https://nickpardini.substack.com/subscribe Podcast: https://open.spotify.com/show/3e5cwqQ9Qr2raeqEdjs4JQ AF with Nick Tour Survey: https://forms.gle/cFeyBNBcCS6jz5f7A Private Dinner and Events Application: https://forms.gle/NJhDqSX7N22xuwXJ6 Website: http://nickpardini.com AF with Nick Tour Survey: https://forms.gle/cFeyBNBcCS6jz5f7A Become a Member for Early Releases and Bonus Videos: https://www.youtube.com/channel/UC7TEgC3UwJ2wI6m40rJOAFA/join Email Questions to askafundmanager@gmail.com Chapters: 00:00 Should Billionaires Exist? 01:06 Defining Honest Wealth 02:41 Clean Billionaire Numbers 03:28 Why America Is Different 04:43 How Corruption Builds Wealth 05:50 Clean vs Dirty Industries 09:17 Refuting the Narrative 09:43 Closing and Q&A Disclaimer: Anything in this channel is for informational and educational purposes only and is not investment advice. All information contained herein is based upon information available to the public. No representation is made that it is accurate or complete. No mention of a particular security, index, derivative, or other instrument on this channel is an offer to buy or sell or a solicitation of an offer to buy or sell the securities mentioned herein, nor does it constitute an opinion of the suitability and appropriateness of investing in any financial instrument. Please consult your investment advisor and do you own research before making any trading or investment decisions. Nothing in this video implies that any returns are guaranteed. Markets are volatile and often unpredictable. Advertising Inquiries: https://redcircle.com/brands [https://redcircle.com/brands] Privacy & Opt-Out: https://redcircle.com/privacy [https://redcircle.com/privacy]