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On today’s show, we discuss:
- Boomers Got Hooked on Stocks. Now They Can’t Let Go.
- Global inequality at lowest level in nearly 150 years
- Instant Pot’s Slower Sales Tip Gadget Maker Into Bankruptcy
- Why Are Houses So Expensive?
- One-Third of U.S. Homebuyers Are Paying in Cash, the Highest Share in Nearly a Decade
- Nearly Everyone With a Mortgage Has an Interest Rate Below 6%, Prompting Many to Stay Put
- Renters Are About to Get the Upper Hand
- How credit cards ruined the airport lounge
- How America Saves
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Since October S&P 500 low…
Money market funds have taken in $832bil.
Equity ETFs only $181bil.
S&P ↑ 20%+ in that span.
Still amazed at lack of equity ETF inflows this yr.
I remember when ETFs were the only reason markets moved higher btw.
via @Todd_Sohn
— Nate Geraci (@NateGeraci) June 6, 2023
Gundlach is deep in the financial industry bubble.
Stocks will be in a mania when I start hearing about them from people in Myrtle Beach. Nobody around here cares. It is not a mania. https://t.co/5dz2qfE24s
— Jared Dillian (@dailydirtnap) June 15, 2023
The New York Fed's Global Supply Chain Pressure index has gone from a record high to a record low in no time. pic.twitter.com/Zu6weGLrck
— Bespoke (@bespokeinvest) June 7, 2023
Even with 500bps of tightening, money just isn't all that tight.
In past cycles rates peaked >5% above core PCE inflation. Today the Fed's actions have brought rates to just match it. pic.twitter.com/mwRtEAuQ7K
— Bob Elliott (@BobEUnlimited) June 17, 2023
Er, thanks American consumers pic.twitter.com/uBemiGml4G
— Dario Perkins (@darioperkins) June 19, 2023
"The United States of America is effectively bankrupt."
— Eddy Elfenbein (@EddyElfenbein) June 13, 2023
The stock and bond market peak coincided with the top in inflation-adjusted M2 money supply. We're almost down to the pre-COVID trend level. There has never been a faster contraction in real M2 since 1960. pic.twitter.com/Cq4o8npIlW
— Samuel Lee (@svrnco) June 8, 2023
Sonos Reducing Workforce By 7% $SONO
— *Walter Bloomberg (@DeItaone) June 14, 2023
Home prices in the UK exceed the cost of building them by more than they ever have, because we have not built enough of them for many decades. A stunning new graph from Prof. John Muellbauer https://t.co/f0XX6fNDwJ pic.twitter.com/quN8T34v5P
— YIMBY Alliance (@yimbyalliance) June 16, 2023
Americans feel a lot better about their own lives than they do about their country.
73% rate their personal situation as good or excellent, but just 18% say the same of the US as a whole. @Morning_Joe pic.twitter.com/aQBWZusKSb
— Steven Rattner (@SteveRattner) June 7, 2023
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