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On today’s show, we discuss:
- The $8.8T cash pile that has stock market bulls salivating
- Americans are suddenly a lot more upbeat about the economy
- The US seems to be dodging a recession. What could go wrong?
- More workers want to change jobs, but the market is getting tougher
- Inside the business of air miles
- How big can Bitcoin get?
- Empty nesters own twice as many large homes as Millenials with kids
- Gen Z’s homeownership rate stagnated in 2023, but Millenials and Gen Xers saw gains
- Pending home sales rose 4% in December – biggest jump in over two years
- Blackstone doubles down on the US housing market with acquisition of Tricon and its nearly 40,000 homes
- Upbeat America
- Wells Fargo reflect card review: A best-in-class 0% APR promotion
- Your new $3,000 couch might be garbage in three years. This is why.
- Netflix, WWE strike deal to move Monday Night Raw to streamer in 2025 for $500M per year
Listen here:
Recommendations:
- Slow Horses
- Friday Night Lights on the Stick the Landing Podcast
- Killers of the Flower Moon
- Burning
- The Creator
Charts:
Tweets:
The S&P 500 closed at an all-time high.
The Russell 2000 is still in a bear market*, down more than 20% from its high.
That's never happened before. pic.twitter.com/ZB5vUAhHMe
— Jason Goepfert (@jasongoepfert) January 19, 2024
THE STOCK MARKET IS NOT THE ECONOMY
Chart of the year so far… the MSCI China Index is about to go NEGATIVE since its 1992 inception
The Chinese economy is ~13x larger and an investment in it has gotten you the same return as if you put your cash under your mattress pic.twitter.com/4yqeYQRTRp
— Jake (@EconomPic) January 19, 2024
Probably no better chart to illustrate the fact that differences in GDP growth have nothing to do with differences in equity returns.
From '03 China's nominal GDP up 1000%, Japan's up 12%. pic.twitter.com/UTYfBeL5fD
— Bob Elliott (@BobEUnlimited) January 21, 2024
By one measure, borrowing costs for S&P 500 companies are hovering around the lowest levels in **48 years** –Goldman pic.twitter.com/yTegeaZ4kg
— Gunjan Banerji (@GunjanJS) January 20, 2024
The Spot Bitcoin ETFs started on January 11, when the price was $49,021, 10 minutes after ETF trading began. Two weeks later, the "sell the news" correction is now 21% and not yet showing signs of bottoming.
This may not sound like much to experienced Degens, but to normies… pic.twitter.com/vFLPhb2sal
— Jim Bianco (@biancoresearch) January 23, 2024
LATEST: The Great GBTC Gouge hit record -$640m on Monday, the Nine did their best to offset but fell short w/ a $553m haul. ROLLING NET FLOWS still healthy at +$1b but ongoing battle. The Nine now have a 20% share vs GBTC. Volume also remains very high for new launches in 2nd wk pic.twitter.com/ng0BU8mi6L
— Eric Balchunas (@EricBalchunas) January 23, 2024
Digital asset investment products saw a near-record $1.18bn in inflows last week.@CoinSharesCo pic.twitter.com/CVGHJ0bvh6
— Daily Chartbook (@dailychartbook) January 18, 2024
BlackRock's $IBIT is the first US spot Bitcoin ETF to cross the $1 billion inflow threshold w/ yesterday's $371m
Fidelity's $FBTC in second place w/ $881 million overall pic.twitter.com/6svFXnHcGR
— Katie Greifeld (@kgreifeld) January 18, 2024
Faces melted. pic.twitter.com/eqvksuOTiw
— Stats (@punk9059) January 18, 2024
BofA Small Business Checkpoint
In good shape and handling hurdles pic.twitter.com/f4870grExY— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi) January 21, 2024
The Democrat / Republican gap in the view of the current economy is the widest in history https://t.co/7RkLCVO5Is pic.twitter.com/M6W4qwPZgH
— Jake (@EconomPic) January 19, 2024
Every time a publication folds the public and the employees have some story to tell about its mismanagement, and how if they had just x they would have survived, but the trend is inescapable and they're all doomed. pic.twitter.com/RH3sKVe5GO
— Ryan Moulton (@moultano) January 21, 2024
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