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On today’s show, we discuss:
- The Fed is pleased with recent inflation data
- What was the cost of the COVID stimulus?
- Jamie Dimon warns the Israel-Hamas conflict may upend the economy
- Further thoughts on Sea Change
- The US national debt reaches $0 for the first time
- US housing affordability worsens to new record low on high rates
- The worst-case scenario for the housing market
- $JPM earnings
- $BLK earnings
- Is reclining your airplane seat upright behavior or downright rude
- Social Security benefits will rise 3.2% in 2024
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Tweets:
The war on inflation is over. We won, at very little cost pic.twitter.com/opumf3nEvL
— Paul Krugman (@paulkrugman) October 12, 2023
Alt-inflation headline read out:
Using more real time series for shelter, both alt-core and alt-headline below 2%.
Alt-Inflation below Fed 2% target ✔️
Our alt-shelter # hooked higher off lows but is 2.6% and not >7% like official stats.
Fed should be done with hikes! pic.twitter.com/uc0C6uc2DR
— Jeremy Schwartz (@JeremyDSchwartz) October 12, 2023
Change the Billions to Trillions and this is the financial status of the United States federal government
— Austen Allred (@Austen) October 13, 2023
Over the past year inflation has come down a lot, real growth has been solid, real wages are up, oil production is up, gasoline prices are down, rent growth is minimal, supply chains have healed, and yet because of interest rates/financing costs the vibes are still bad for many.
— Conor Sen (@conorsen) October 12, 2023
Buffett described Apple’s customer value and pricing power by posing a hypothetical question. I’m curious how you would answer the question:
If you were offered $10,000 to never buy an Apple product again, do you take that deal?— John Huber (@JohnHuber72) October 14, 2023
What went wrong and how can it be fixed? pic.twitter.com/SL0cwP2UxV
— Culture Critic (@Culture_Crit) October 11, 2023
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