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On episode 68 of The Real Eisman Playbook, Steve Eisman sits down with Torsten Slok, Chief Economist at Apollo, to break down just how dependent the U.S. economy has become on AI. Torsten walks through the K-shaped economy in detail, explaining why the top third of American consumers are doing fine while the bottom two-thirds are under severe and growing stress. They also discuss the Fed's impossible position, why Jerome Powell is unlikely to cut rates anytime soon, and what a slowdown in AI spending would mean for an economy that has become singularly dependent on it.

00:00 - Intro

01:30 - The Health & State of the US Economy

05:45 - The Fed Are Not Going to Cut Rates

07:56 - The AI Story is Dramatically Changing

14:00 - The K-Shaped Economy

22:02 - Private Credit

30:04 - Employment, AI, & Europe

41:25 - The U.S. Deficit

48:33 - China

49:47 - The Biggest Risks in the Market

53:15 - Outro

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