Today’s Animal Spirits is brought to you by YCharts
On today’s show we discuss:
- I love this from Bill Miller
- Rich people own 89% of all stocks
- Stop trading, Jay Powell
- Fed to ban policymakers from owning individual stocks
- Bitcoin bigger than silver
- Productivity
- Why are people quitting?
- Childcare from Covid
- Restaurants are hiring robots
- Netflix earning transcript
Listen here
Transcript (via Audiograph)
Recommendations:
Charts:
Tweets:
$BITO finishes #2 on the weekly ETF inflows leaderboard…
Mingling w/ all the big players.
via @DanMikaTweets pic.twitter.com/QWeSsSwvif
— Nate Geraci (@NateGeraci) October 22, 2021
Billionaire investor Paul Tudor Jones says crypto is his preferred inflation hedge over gold right now.
Are you team crypto or team gold? Like for crypto, comment for gold.
— CNBC (@CNBC) October 21, 2021
Hyperinflation is going to change everything. It’s happening.
— jack⚡️ (@jack) October 23, 2021
In 2008-09, when the Fed started quantitative easing, I thought that inflation would take off. I was wrong. Instead, velocity – the rate at which money turns over per year – declined, taking away its inflationary sting. Velocity still is falling. https://t.co/tFaXSaCKqS
— Cathie Wood (@CathieDWood) October 25, 2021
In 2008-09, when the Fed started quantitative easing, I thought that inflation would take off. I was wrong. Instead, velocity – the rate at which money turns over per year – declined, taking away its inflationary sting. Velocity still is falling. https://t.co/tFaXSaCKqS
— Cathie Wood (@CathieDWood) October 25, 2021
We see this contradiction all the time. The most famous is Shadow Stats, who gets paid in USD and hasn't raised the price of the newsletter the entire 20 years they've been predicting hyperinflation….
These people don't actually believe the narrative they're selling.
— Cullen Roche (@cullenroche) October 23, 2021
Update: The city of LB just announced it has temporarily suspended container stacking limitations.
Thank you everybody who called the governor and the mayor to request. They got the message, you can stop now… https://t.co/jp3S07NS4l
— Ryan Petersen (@typesfast) October 22, 2021
People are impressed with real estate returns because it's the only asset that people hold long enough to experience compounding.
Anecdotally, everyone knows someone who paid $150k in 1995 that is now $300k.
A 2.7% CAGR.
Even compounding at a low rate is damned impressive.
— ValueStockGeek (@ValueStockGeek) October 20, 2021
Denis Villeneuve's #Dune tops the box office with a $40M weekend. https://t.co/dKUqZiCUeL
— Rotten Tomatoes (@RottenTomatoes) October 24, 2021
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