Trump may have lost but don’t bet Democrats can fix the economy

AI desk brief

The commentary argues that a new Democratic Congress would have limited power to ease affordability pressures, linking gasoline costs to the Iran war and reopening the strait of Hormuz. It cites Goldman Sachs estimates of nearly $500bn in AI-related debt issuance so far in 2026, including almost $200bn from hyperscalers, alongside a Nasdaq decline exceeding 10% over the preceding month. The author warns that an AI funding collapse could trigger a severe downturn with limited fiscal room. For gold, persistent energy inflation and potential financial stress could support demand, but the article establishes no clear near-term price direction.