tanit boonruen/iStock via Getty Images Key Points AI spending has reached mania levels, ignoring the core limitations of LLMs—their statistical construct, inability to reason sequentially, and commodity-like economics. That said, this cycle may end through gradual exhaustion rather than dramatic collapse. Trump’s multifaceted reflation agenda should support the broader non-AI economy into 2026. The ending of Fed intransigence, rising policy focus on housing, and planned bank capital overhaul reinforce ...