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On today’s show, we discuss:
- Why so bearish?
- The Exchange from the desk of Kelly Evans
- I spent two years revenge spending, it was hard to stop
- Bars, hotels and restaurants become the economy’s fastest-growing employers
- Net Interest on Goldman Sachs, Silvergate, Revolut, and Klarna
- The rise and fall of Silvergates crypto business
- The typical U.S. home changes hands every 12 years, down from 2020 peak
- Chart of the Week: House prices vs. rent
- Home is where retirement funding is
- How America soaks the affluent
- Average income by age plus median, top 1%, and all income percentiles
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Trailing 20-day flows for $ARKK since its 2014 inception.
As of March 2, trailing 20-day flows were -$108 million. pic.twitter.com/b2JBULrcTf
— Ben Johnson, CFA (@MstarBenJohnson) March 3, 2023
Market's expectation of probability of 50bps rate hike at March Fed meeting has gone from 0% at beginning of February to 29% at beginning of March
@biancoresearch @CMEGroup pic.twitter.com/I7Y2AuUBXo— Liz Ann Sonders (@LizAnnSonders) March 3, 2023
Mastercard CFO on the state of the consumer:
"We continue to see what is a remarkably resilient consumer…Our business model continues to be a nominal spend business model, which is the combination of real spending & inflation" pic.twitter.com/hdjPAkDrNP
— The Transcript (@TheTranscript_) February 28, 2023
China Feb Manufacturing PMI Rises To Highest Since April 2012
— LiveSquawk (@LiveSquawk) March 1, 2023
GM cutting hundreds of executive, white-collar jobs amid electrification jolt https://t.co/JwMgbH955X via @detroitnews
— FxMacro (@fxmacro) March 1, 2023
At Coinbase all client funds continue to be safe, accessible & available.
In light of recent developments & out of an abundance of caution, Coinbase is no longer accepting or initiating payments to or from Silvergate.
— Coinbase 🛡️ (@coinbase) March 2, 2023
Car payments have hit record highs:
Nearly 15% of drivers who financed a new vehicle toward the end of 2022 are paying $1,000+ a month.
(via edmunds)
— Car Dealership Guy (@GuyDealership) March 5, 2023
Followup On Pausing Alcohol
"Pour him out of here!" –Mae West
[This is a followup to the prior post “On Pausing Alcohol”.]
Why did I stop drinking? 1/3 watching the collapse of ~all the scientific studies[*] that claimed to prove health benefits of alcohol; 1/3 the…
— Marc Andreessen 🇺🇸 (@pmarca) March 2, 2023
MORGAN STANLEY: “In every new cycle we see new bubbles .. However, the hype around generative #AI may be justified and the technology feels genuinely exciting. .. We haven't had an app scaling at this pace in history.” #ChatGPT pic.twitter.com/OjFttinDqr
— Carl Quintanilla (@carlquintanilla) February 15, 2023
“.. despite $GOOGL’s stock trading down -17% (>$225B of market cap lost) over the past three weeks in the wake of $MSFT’s ‘assault’ on their search business, .. Google GAINED Search Engine Market Share in February ..”
(via Bernstein) #AI pic.twitter.com/ihkI8c0zI5
— Carl Quintanilla (@carlquintanilla) March 1, 2023
Creed III is also the first sports movie ever to pass $100 million at the global box office in its opening weekend. pic.twitter.com/7Lfugxex9H
— Front Office Sports (@FOS) March 6, 2023
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