Today’s Animal Spirits is brought to you by Vanguard:
This episode is sponsored by Vanguard. Learn more at: https://vgi.vg/3GbOsYM
On today’s show, we discuss:
- How America saves 2025
- My biggest surprise in retirement
- These Funds Are Yield Magicians. How Do They Do It?
- Young People Face a Hiring Crisis. AI Is Making It Worse.
- Peter Thiel and the Antichrist
- Will Robots Replace Financial Advisors?
- Young Investor Demand for Alternative Assets Is Reshaping Wall Street’s Playbook
- Look Forward: Future of Capital Markets
- Denis Villeneuve to Direct James Bond Film at Amazon
Listen here:
Charts:















Favorites:
- Plane
- The Ballad of Wallis Island
- The Bear
- The Hangover
- Snow White
- Superbad
- Incoming
- Brad Pitt on Armchair Expert with Dax Shepard
Tweets/Bluesky:
The dollar is off to its worst start to a year since Bretton Woods ended in 1973 pic.twitter.com/k1G2eVQEv1
— Jake (@EconomPic) June 30, 2025
Interesting split: Growth sectors are outperforming in the US, while Value sectors are leading the rest of the world pic.twitter.com/ftgZwFEe1z
— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi) June 25, 2025
Israel $EIS has been the best performing country ETF in our asset class matrix in the second quarter.
Up 24.7%. 🔥 pic.twitter.com/fCuvmrpIvj
— Bespoke (@bespokeinvest) June 30, 2025
"At year-end 2024, Individual Retirement Accounts (IRAs) and 401(k) plans accounted for 58% of the $44 trillion of total US retirement market assets" – GS pic.twitter.com/Tdt42U60hy
— Sam Ro 📈 (@SamRo) June 23, 2025
Counter #'s
The average college graduate is now 24 years old, up from 22 in the 1980s and 40%+ of graduates now go on to graduate school, compared to roughly 20 to 25% in the 1980s.
Thus, the applicable bucket is 25-29 year olds where unemployment is near a record low. https://t.co/SQ2Wqr3MPK pic.twitter.com/fIZeqaWS3Z
— Jake (@EconomPic) June 26, 2025
loan underwriters at freddie mac determining if an unemployed teenager has enough fartcoin to secure a mortgage. pic.twitter.com/8tRin6krYU
— Dip Wheeler (@DipWheeler) June 25, 2025
Just released Q1 2025 NMDB data reveals:
– 20.7% of mortgaged homes have a rate <3%
– 32.7% have a rate 3.0 – 3.99%
– 17.9% have a rate 4.0 – 4.99%
– 9.9% have a rate 5.0 – 5.99%
– 18.8% have a rate >= 6%81% of mortgaged homes have a rate below 6%, that's down from the peak of… pic.twitter.com/3kCJZyL76P
— Odeta Kushi (@odetakushi) June 30, 2025
Ever wonder if you should be tipping your Uber driver after a ride?
Tipping on Uber rides is entirely optional, says CEO Dara Khosrowshahi, who addresses the growing question.
While just over 20% of riders currently tip, that number is rising. Khosrowshahi emphasizes it’s a… pic.twitter.com/AYE9YKUlu3
— CBS Sunday Morning 🌞 (@CBSSunday) June 27, 2025
'THE SOCIAL NETWORK 2' is officially in the works
Aaron Sorkin is returning to write, and also direct
(via: Deadline) pic.twitter.com/8ggDWoVQAi
— ScreenTime (@screentime) June 25, 2025
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