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On today’s show, we discuss:
- Is the Inflation Battle Won? Not Yet.
- Where’s the Recession We Were Promised?
- Bitcoin Bonanza on Tap if BlackRock ETF Is Approved
- There Were Fewer Homes for Sale in May Than Any Other Month on Record
- Colorado’s housing market was moving in favor of buyers, but not anymore
- A couple who retired early with $4.3 million says the FIRE lifestyle is wearing thin: ‘We don’t want to just keep throwing money on the pile and keep being cheap
- Jaw-Dropping Stats About the State of Debt in America
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Year to Date: $AAPL, $MSFT, $AMZN, $NVDA, and $META have added a combined $3 trillion in market cap since the start of the year.
5 stocks added more market cap in the first 6mo than the GDP of India or the UK, and more than the sum of South Korea and Australia's GDPs combined. pic.twitter.com/0iExtIb2JI
— The Compound (@TheCompoundNews) June 22, 2023
Apple's App Store now generates $1.1 trillion in billings and sales on a global basis, making it larger than the annual GDP of all but 16 countries and larger than the GDP of countries like Saudi Arabia, Turkey, Switzerland, and Taiwan.
— Bespoke (@bespokeinvest) June 26, 2023
Bond traders are now convinced that the Fed won't cut rates this year
That's been a contrarian opinion for most of this year, though pic.twitter.com/KD4Gz21BRh
— Callie Cox (@callieabost) June 25, 2023
Credit investors rejoice!
62% of new junk bonds issued are secured, the highest rate in recent history
Good thing, as defaults are rising. The trailing 12-month, speculative-grade default rate was 3.07% (up from 1.22% in early 2022) pic.twitter.com/oTsVeWvyj5
— Julian Klymochko (@JulianKlymochko) June 25, 2023
The numbers don’t make sense. Something is off kilter.
— Elon Musk (@elonmusk) June 21, 2023
So now the asset managers who thought #Bitcoin was cooked are jockeying to secure a position before the ETFs go live.
But 70%+ of the supply is already in the hands of psychos who didn't even flinch when FTX blew up.
Look at me in my laser eyes. The bidding begins at $1000K.
— Stack Hodler (@stackhodler) June 21, 2023
$10 trillion BlackRock CEO: The hits on our website was 3k for monetary policy, and 600k for #Bitcoin
“Many people are fascinated about it, many people are excited about it.” pic.twitter.com/2VZMbSLqeT
— Bitcoin Magazine (@BitcoinMagazine) June 23, 2023
Another potentially small crumb signifying the SEC is lightening up their adversarial stance towards Bitcoin… I wrote about this fund last week and looks like it might actually launch on 6/27. https://t.co/Rhz4xqxHnY pic.twitter.com/Ux2fJc5DHZ
— James Seyffart (@JSeyff) June 23, 2023
last week marked a shift in sentiment and flows, with nearly $200M of inflows into crypto products, the biggest week thus far this year
from our @CoinSharesCo research team 👇https://t.co/mcmbtBrhdp pic.twitter.com/MsgCoJ8uyq
— Meltem Demirors (@Melt_Dem) June 26, 2023
Housing starts rose more than 20% MoM in May for only the 5th time in the last 20 years. pic.twitter.com/rOKBTlt1Rj
— Bespoke (@bespokeinvest) June 21, 2023
Thru May, number of multi-family housing units under construction rose again and is now tied for record set in 1973 pic.twitter.com/oInHBnCVwM
— Liz Ann Sonders (@LizAnnSonders) June 21, 2023
Opendoor bought this home in January 2023 for $670k, and almost immediately sold it for $582k—or 13.2% below its purchase price. https://t.co/DUm3taxIzh pic.twitter.com/5Sls15ioSW
— Lance Lambert (@NewsLambert) June 26, 2023
WHOA. The FDIC accidentally posted an un-redacted document showing that the big VC firm Sequoia had $1 billion on deposit at SVB when it collapsed https://t.co/hCbcHZ0yev pic.twitter.com/Ys1qbHnvDr
— Joe Weisenthal (@TheStalwart) June 23, 2023
"We estimate the hit to disposable income from the end of the student loan moratorium lowers real PCE this year by 8-12bp and real GDP by 6-9bp…" – Morgan Stanley
— Sam Ro 📈 (@SamRo) June 22, 2023
So it used to be the case that you could book hotels and stuff through Chase using your points, and you'd save something like 25%.
Now it seems like they mark everything up 30+% and offer fewer benefits than if you were to book direct 🤨
— Jake (@iamjakestream) June 20, 2023
If you bought Netflix in 2018 because you thought they had won streaming…
You would have been right and you would have made no money pic.twitter.com/plrOOCKr3u
— BuccoCapital Bloke (@buccocapital) June 23, 2023
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