Finance
The Roaring 2020s: AI, Productivity, and the Next Stock Market Boom
Date: 2026-07-23 17:30:30
In this keynote presentation from The MoneyShow Las Vegas, renowned economist and investment strategist Dr. Edward Yardeni, President of Yardeni Research, explains why he believes the “Roaring 2020s” could extend into the 2030s—and why the future of the US economy and stock market may be brighter than many investors expect.
Yardeni explores how retiring baby boomers, labor shortages, artificial intelligence, automation, and other technological advances are creating the conditions for a powerful productivity boom. He explains how stronger productivity could support faster economic growth, lower inflation, rising real wages, and historically high corporate profit margins.
He also reveals why the American consumer has remained so resilient, highlighting the enormous wealth accumulated by baby boomers and the Silent Generation. Then, Yardeni shares his latest stock market outlook, including his projections for S&P 500 earnings and where he believes the index could trade by the end of the decade.
During the audience Q&A, Yardeni discusses the potential return on today’s massive AI investments, the risks surrounding OpenAI and Oracle, opportunities in financials, industrials, and biotechnology, and his outlook for Treasury yields and Federal Reserve policy. He also identifies the geopolitical, commodity-price, and inflation risks that could challenge his optimistic forecast.
For investors looking beyond the daily headlines, this presentation offers a compelling long-term perspective on AI, productivity, economic resilience, interest rates, and the next phase of the bull market.
0:00 – Welcome & the “Roaring 2020s” Thesis
1:42 – What the 1920s Can Teach Investors Today
3:25 – Baby Boomer Retirements and the Labor Shortage
5:12 – Why Technology Could Solve America’s Labor Problem
6:48 – AI, Automation, Robotics, and the Productivity Boom
8:35 – How Productivity Supports Growth and Lowers Inflation
10:18 – From IBM Mainframes to the AI Revolution
12:06 – Data as the Fourth Factor of Production
13:42 – Will Artificial Intelligence Eliminate Jobs?
15:08 – Why the US Economy Has Remained So Resilient
16:35 – The Problem With Perma-Bears and Recession Forecasts
18:04 – Baby Boomer Wealth and Consumer Spending
20:22 – AI Capital Spending and Stock Market Rotation
21:38 – Yardeni’s S&P 500 Forecast Through 2030
23:15 – Q&A: Will Massive AI Investments Generate Returns?
25:18 – Technology Valuations, Sector Rotation, and Biotechnology
26:42 – OpenAI, Oracle, and Circular Financing Risks
28:02 – Outlook for Treasury Yields and Interest Rates
29:08 – Geopolitical Risk, Oil Prices, Inflation, and the Fed
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