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On today’s show, we discuss:
- Full transcript from CNBCs “Charlie Munger: A Life of Wit and Wisdom”
- Should we believe Americans when they say the economy is bad?
- Inflation is your fault
- Goods deflation is back. It could speed inflation’s return to 2%
- After 3 years of pain, America has finally achieved economic nirvana
- David Tepper and the problem of the investor-owner
- Americans are ‘doom spending’ – here’s why that’s a problem
- Outlook for the US consumer
- Welcome to a golden age for workers
- 10 housing markets expected to see the most homebuyer migration in 2024
- 31% of millionaires say they’re part of the middle class, survey finds. ‘People feel squeezed,’ advisor explains
Listen Here:
Recommendations:
- Godzilla Minus One
- Kingdom of the Planet of the Apes
- Ghostbusters
- Blumhouse
- Why We Crave Horror Movies
- Fargo
- Black Swan
Charts:
Tweets:
There is debbie downer.
There is doom and gloom.
There is permabear.
Then there is this guy… pic.twitter.com/kdYtxL9VoW
— Heisenberg (@Mr_Derivatives) December 4, 2023
Biggest price drops since August
Fun fact: Porsche Cayenne prices have dropped *over 10%* since August — more than any other Luxury vehicle.
Note: "Price drop" refers to the actual transaction price, not a change or reduction in MSRP. pic.twitter.com/PYOT7TGwxb
— Car Dealership Guy (@GuyDealership) December 4, 2023
"The 4-week change in AAII Bear Index is one of the largest drops we have seen in the last 20yrs."
– Goldman Sachs pic.twitter.com/B1FaXms7ft
— Daily Chartbook (@dailychartbook) December 2, 2023
More 25-54 year old Americans are employed today than at any time in the last two decades. pic.twitter.com/oF7QrDzdiC
— Michael Finke (@FinkeonFinance) December 1, 2023
BREAKING: New home prices just crashed by the largest amount on record, down 18% over the last year.
According to Reventure, this is the biggest annual decline back to 1965.
Even in the worst month of the 2008 financial crisis, the biggest decline was 15%.
The worst part?
New… pic.twitter.com/vo9wZWfUDl
— The Kobeissi Letter (@KobeissiLetter) November 27, 2023
No one fully appreciates how volatile income is. People get raises, they become unemployed or disabled, they marry or divorce, they retire, they appear temporarily rich from an asset sale, etc.
Nearly half of this year's top 1% will not be in next year's top 1%: https://t.co/9DBldbAgo6 pic.twitter.com/hKrY4gvXLw
— Ricco (@riccoja) November 30, 2023
Perfect number of donuts: 2
Perfect number of beers: 3
Perfect song length: 3.5 mins
Perfect number of lifting reps: 8 (don’t know why but it’s true)
Perfect movie length: 1 hr 45 mins
Perfect number of TV episodes per season: 6 (only British shows do this)
— Ben Carlson (@awealthofcs) December 2, 2023
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