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On today’s show we discuss:
- Why it’s so hard to measure inflation
- J.P. Morgan guide to the markets
- Why I’m Not Selling Bitcoin
- Why Bitcoin is a religion
- Janet Yellen got paid
- State and local government jobs disappear
- Horrible year for main street, great year for wall street.
- Why we can’t tell good wine from bad
- Netflix is still the king of content
The Chapwood index is really interesting.
Suggests that the true cost of living in America has been going up ~10-12% per year, rather than ~2% as implied by CPI. pic.twitter.com/K7cpDtg7ru
— Tanay Jaipuria (@tanayj) January 1, 2021
Housing affordability** (defined as the average real monthly mortgage payment on a new home) has been pretty steady for ~50 years (as much data as I could grab). Meanwhile the average new home is 70% larger than one from 1971 despite smaller households.
** down ~15-20% this year pic.twitter.com/MlGeqdTdEj
— Jake (@EconomPic) August 5, 2019
The EV/EBIT<5 universe performance for 2020. Yes, it's worse than 1999. At least in 1999, it made money.
Me in 2017: "This was just like 1999! Things are going to turn around!"
I was so young. pic.twitter.com/64BSLJpPGA
— ValueStockGeek (@ValueStockGeek) January 1, 2021
— zerohedge (@zerohedge) January 1, 2021
I just can't believe Larry Summers goes on for a decade about secular stagnation and then says checks will overheat the economy.
— Thom📉 (@wokus_dei) December 29, 2020
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