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On today’s show, we discuss:
- US Consumer Spending Is Increasingly Driven by Richer Households
- This is a great economy. Why can’t we celebrate it?
- U.S. Incomes Climbed Last Year, Census Bureau Says
- The Economy Under Trump vs. Biden
- ‘100%’ Yields Are Fueling a Retail Boom in New Quick-Buck ETFs
- The Rise of the Quick-Buck ETF
- Waymo says it has doubled its weekly paid robotaxi trips to 100,000 since May
- Is the Midwest a ‘climate haven’? Business owners certainly think so
- Do Car Seat Mandates Reduce the Number of Children Families Have?
Listen here:
Recommendations:
- The Blair Witch Project
- Seth Godin – This is Strategy
- The Lyle and Erik Menendez Story
- The Penguin
- It’s What’s Inside
- Terrifier 3
Charts:
Tweets:
Since May, 2021, stocks have gotten 19% cheaper.
– In May, 2021, PE was 33.1x
– Now it's 26.7x
– So 19% cheaperYet over the same timeframe, stocks have rallied +38%.
How?
Earnings growth. Not "speculation."
— Matt Cerminaro (@mattcerminaro) October 14, 2024
Real wages are growing, and they're growing at a rate at or even above the pre-pandemic trend. pic.twitter.com/8d6V5tsQf7
— Justin Wolfers (@JustinWolfers) October 10, 2024
Airbnb is down 7% since going public in late-2020
The S&P 500 is up more than 66% in that time
Good companies/products don't always make for good stocks (and vice versa)
Signed,
Guy who bought the stock at the IPO pic.twitter.com/wEwDqbRxhe
— Ben Carlson (@awealthofcs) October 10, 2024
Growing up I was solidly middle class.
I also…
-Lived an hour further outside the city than my parents would have preferred
-Went to a sit down restaurant ~1x / month
-Was a latch key kid starting in 3rd grade with two working parents
-Never would have even contemplated the…— Jake (@EconomPic) October 10, 2024
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