On today’s show, we discuss:
- Stock and bond markets shed more than $30tn in brutal 2022
- 10 predictions for 2022
- 10 predictions for 2023
- Cathie Wood’s grim 2022 is over, next year also looks bad
- The tech IPO market collapsed in 2022, and next year doesn’t look much better
- Big banks predict recession, Fed pivot in 2023
- Your coworkers are less ambitious, bosses adjust to the new order
- Here’s what a $1M retirement looks like in America
- Auto-loan interest rates are skyrocketing, no one told credit unions
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Any way you slice it, this was one of the worst years for financial assets in all of history.
The only other years where a diversified financial asset portfolio did this bad was the Volcker tightening, the depression, and the premature 37 tightening. pic.twitter.com/coocNYVgvL
— Bob Elliott (@BobEUnlimited) December 30, 2022
Retail investors bought TSLA more than any other stock in 2022 https://t.co/ufySQgGWP9 @WSJmarkets @vandaresearch pic.twitter.com/983jT2BH6X
— Gunjan Banerji (@GunjanJS) December 29, 2022
Investors pulled $18 billion from tech funds in 2022-most on record in Morningstar data going back to *1993* pic.twitter.com/pMWbvmT9Uc
— Gunjan Banerji (@GunjanJS) January 3, 2023
2022: 4+ million jobs added, earnings likely grew 5%+, back half of the year real GDP probably grew 3% or so…and stocks -20%. Unlikely we'll ever see a year like this again.
— Conor Sen (@conorsen) December 28, 2022
Sorry, but recessions don't happen when real incomes net of transfers are on the rise and this is up 3.2% annualized since June. Retail gasoline prices have declined about 25 cents per gallon so far in December. Thus, one should expect to see real incomes continue climbing. pic.twitter.com/lvWJeSTyj0
— RenMac: Renaissance Macro Research (@RenMacLLC) December 23, 2022
For 124 consecutive months, spanning the bottom of the previous bust in February 2012 to the top of the Pandemic Housing Boom in June 2022, U.S. home prices grew.
Now we're in a new streak: Four consecutive months of U.S. home price declines. pic.twitter.com/2yasdWyDb2
— Lance Lambert (@NewsLambert) December 28, 2022
https://twitter.com/amalieskram/status/1607945982674882560?s=46&t=K2E8a6wdD0MrjN1DWMH7mg
*SPACEX RAISING $750M IN FUNDING ROUND AT $137B VALUATION: CNBC
— zerohedge (@zerohedge) January 3, 2023
Household excess savings are now below $1 trillion (via @JPMorganAM) pic.twitter.com/HbzE5YQ4LF
— Myles Udland (@MylesUdland) January 3, 2023
What happened at Southwest Airlines, from a longtime pilot at Southwest Airlines. Thread of 6:
1) pic.twitter.com/LL7zNjpIub— Mike Sington (@MikeSington) December 30, 2022
BOX OFFICE: Current #AvatarTheWayOfWater stats:
– Passes $400M domestic (and #WakandaForever) to become #2 movie of 2022 in U.S.
– Grabs 3rd biggest New Years Day BO ever w/ $24.4M, besting even #SpiderManNoWayHome
– Will pass $1.4B & #TopGunMaverick’s total gross imminently pic.twitter.com/x81BktTYUE— Erik Davis (@ErikDavis) January 2, 2023
Once #AvatarTheWayOfWater crosses $1.5B:
– It joins the Top 10 highest grossing films ever
– It will mark James Cameron’s 3rd film to cross $1.5B globally. No other director has ever achieved that.
– #Avatar becomes 1st franchise to have its Part 1 & Part 2 cross $1.5B globally pic.twitter.com/935ZwC0ZIK— Erik Davis (@ErikDavis) January 2, 2023
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