Today’s Animal Spirits is brought to you Masterworks.
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On today’s show we discuss:
- Will supply shortages ruin the holidays?
- Investors are spoiled
- Endowment returns
- Start-ups
- Does inflation mean progress?
- “What does price mean when there’s no supply?”
- Zillow isn’t buying all of the homes on your block
- iBuyers
- Homes are becoming more unaffordable
- Clarida traded into stocks on eve of Powell pandemic statement
- BNPL
- Peloton fatigue?
- Why no 2000s or 2010s fashion?
Transcript
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Utterances of 'transitory' or similar peaked in mid-July, signaling officials beginning to see the persistence in inflation releases. We are still awaiting a drop in passive language. (2/3) pic.twitter.com/E7IeR8ZH4t
— Ben Breitholtz (@benbreitholtz) September 23, 2021
Paying off your mortgage used to be a badge of honor.
Now it's a sign that you don't understand how money printing and asset price inflation works.
— Mike Alfred (@mikealfred) October 2, 2021
I know a guy who lives in a 3br apartment in Manhattan with his wife and kid.
Here’s a estimate of their monthly expenses:
$18k mortgage
$2k HOA
$3k prop tax
$0.5k parking
$16k 24/7 nanny
$5k food & entertainment
$2k travel$46,500/month
$1,116,000 of pretax income per year.
— Molson Hart (@Molson_Hart) October 3, 2021
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