I 100% do not understand Ben’s take on that inflation chart. The government paying you for your dollars is not the same as them not aggressively diluting the purchasing power of dollars by printing them at a record pace.
Boomers are the least fiscally responsible generation in history. $32 trillion in debt that they know only their kids and grandkids will pay off. I think US debt could very easily turn toxic so it's not gonna work. It's gonna blow up.
Traveling Millennial here. Here’s my take- If the last few years have shown anything it’s that tomorrow is promised to nobody. Live your best life when you can!
Maybe Boomers aren't traveling because, like Ben said, they lost half their money in 2008, sold in a panic, parked their cash for 15 years to get 1% returns, then, just as yields rose to a respectable level when they retired in 2023, they panicked again during the bank runs and now hide all their cash in a shoebox above the drop-down ceiling in the kitchen. So, Millennials, when you inherit your parents' house, before you sell it check above the ceiling panels because you might find a shoebox full of cash.
Drake's Cake was founded in 1896 in New York. Devil Dogs, Coffee Cakes, Ring Dings, Yodels — and Funny Bones (the best!) Sells in northeast & south — and online too.
Hostess came out ~20 yrs later, and Little Debbies in the 60s. So Drakes is the "original"🧁
Do you think the stock market can actually ever go down again – since pensions basically don't exist and everyone's retirement has been forced to be reliant on the stock market? Feels like no matter what happens, there will always be a bailout just because of that reason alone.
Can't believe mike thinks that food service is good though lol, definitely not worth. Just buy your own groceries in bulk if you are going to cook it yourself anyway.
I'm with Elon and others who signed an open letter asking AI developers to 'pause' until we figure out a safer way to develop them. I've watched Sam Altman on Lex Fridman Pod and it gives me eerily similar vibe to Mark Zuckerberg and Facebook trajectory. Sam Altman is no way near similar to Zuckerberg in terms of career and grounded confidence but I feel like his understanding and awareness around the potentially harmful outcomes may give him a false security. Nobody could've predicted what social media would do to our society in a decade. I'm pretty sure no school is asking Zuckerberg for commencement speech now.
The inflation impact on USD has a more outstanding impact on lower income population who cannot "put their money to work" and take risks. You should take this much more seriously.
This episode is sponsored by IndexIQ, a New York Life Investments company. Learn more at: https://www.newyorklifeinvestments.com/who-we-are/our-global-boutiques/indexiq
Big Tom Callahan.
Michael, you gonna get a good look at a T-Bone?
Car dealer guy guest.
You could also just drill four holes and hang your own tv in about 10 minutes? 🤷🏽♂
Love you guys. Just keep Batnick away from caffeine – this will improve the quality of the conversations.😊
Batnick and his interruptions make a great show unwatchable. Can they give Nick M a go at this?
Tastycake was the king of the lunchbox in the Baltimore / Philly area
I 100% do not understand Ben’s take on that inflation chart. The government paying you for your dollars is not the same as them not aggressively diluting the purchasing power of dollars by printing them at a record pace.
Boomers are the least fiscally responsible generation in history. $32 trillion in debt that they know only their kids and grandkids will pay off. I think US debt could very easily turn toxic so it's not gonna work. It's gonna blow up.
My New Jersey uncles are incredible story-tellers
The fed is data dependent, who needs common sense when you the data? lmao
@ 18:24 My definition of a 'dumb' person does not include them owning large sums of money. unless inherited.
Traveling Millennial here. Here’s my take- If the last few years have shown anything it’s that tomorrow is promised to nobody. Live your best life when you can!
Michael laughing at Ben statement "I feel the bear markets on the weekends" was so wholesome.
Maybe Boomers aren't traveling because, like Ben said, they lost half their money in 2008, sold in a panic, parked their cash for 15 years to get 1% returns, then, just as yields rose to a respectable level when they retired in 2023, they panicked again during the bank runs and now hide all their cash in a shoebox above the drop-down ceiling in the kitchen. So, Millennials, when you inherit your parents' house, before you sell it check above the ceiling panels because you might find a shoebox full of cash.
Who the heck cares about thanking the audience bullcrap, get on with the show guys
Hey..thank you guys! Great part of my morning each week getting to listen
All our vacays were driving to visit family.
Hahahaha. Zero over and over again. That is the trick. It confuses the tech and takes you to a person. Win.
Highly Recommend:
Shrinking on Apple TV+
Written by Ted Lasso writer Brett Goldstein and Jason Segel
Also stars Harrison Ford
Congratulations on the 300 "ish" episode. I discovered Animal Spirits through Barry's MIB podcast. Great team at RWM!
JURRIEN TIMMER LETS GOOO
Hahaha dude cannot stop talking about home chef. Third show in a row 😂
I want to start a drinking game where you take a shot everytime Michael interrupts, but I'm afraid it'd end up with an emergency room visit.
Ben at 43:40 with some classic rich person stuff: "people know too much"
No succession review??
Comparing monetary policy to IKEA furniture…only on Animal Spirits!
Michael pauses at the wrong moment when speaking. He said, we you screw… Then paused before finishing.
Michael's shirt😂
Drake's Cake was founded in 1896 in New York. Devil Dogs, Coffee Cakes, Ring Dings, Yodels — and Funny Bones (the best!) Sells in northeast & south — and online too.
Hostess came out ~20 yrs later, and Little Debbies in the 60s. So Drakes is the "original"🧁
For the record, the Simposons in and out reference is Grampa Simpson and not Homer Simpson.
I've been watching since the beginning, my favorite Podcast 🎉 #happy301
Respect the doc lol
Mike that is the slowest fan I've ever seen.
CALLAHAN AUTO PARTS: "I'd shit in a box but take the butchers guarantee for it"
Great Show today! Just what I needed for the trading day!
Do you think the stock market can actually ever go down again – since pensions basically don't exist and everyone's retirement has been forced to be reliant on the stock market? Feels like no matter what happens, there will always be a bailout just because of that reason alone.
Can't believe mike thinks that food service is good though lol, definitely not worth. Just buy your own groceries in bulk if you are going to cook it yourself anyway.
I just bought some 3 and 6 month CDs for the first time this week 😂 5% annual yield not too bad
C&I loans are commercial and industrial loans to businesses.
Ben where'd you get that shirt?
"If you are not willing to risk the usual you will have to settle for the ordinary." *Jim Rohn
Ben, I'm a member of that segment of society you despise so vehemently – Boomers. Please don't call me "Baby".
I'm with Elon and others who signed an open letter asking AI developers to 'pause' until we figure out a safer way to develop them. I've watched Sam Altman on Lex Fridman Pod and it gives me eerily similar vibe to Mark Zuckerberg and Facebook trajectory. Sam Altman is no way near similar to Zuckerberg in terms of career and grounded confidence but I feel like his understanding and awareness around the potentially harmful outcomes may give him a false security. Nobody could've predicted what social media would do to our society in a decade. I'm pretty sure no school is asking Zuckerberg for commencement speech now.
Car dealership guy??
The inflation impact on USD has a more outstanding impact on lower income population who cannot "put their money to work" and take risks. You should take this much more seriously.
Paying someone to hang up your tv strikes me as a bit odd hehe, but I get it.
JFC …. cuck wealth mgmt…. LMFAO….. " blah, blah, blah…..so 'Long' SPY"