Animal Spirits: Democracy Has Failed

We discuss:

  • A healthy correction in tech stocks
  • Why there doesn’t always have to be a catalyst for stocks to fall
  • Which speculators are moving stocks the most?
  • The government stopped a depression in its tracks
  • Which temporary layoffs are becoming permanent?
  • Could governments end poverty if they wanted to?
  • Government debt is going higher but interest expense is going lower
  • The TINA market in bonds: There is no answer
  • More likely: rates stay low for decades or slowly rise over time?
  • Why endowments are impossible to benchmark
  • Why people leaving big cities is good news for young people
  • Has anyone ever had a good experience with a timeshare?
  • Is Airbnb going to take over the travel industry?
  • Apple is bigger than all small cap stocks in the US put together
  • Giving up on bonds to own alternative assets
  • Comedy is harder than drama and much more

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