Animal Spirits: Democracy Has Failed
Courtesy of Michael Batnick
On today’s show we discuss:
- August employment report
- These temporary layoffs are starting to look permanent (Barron’s)
- Some jobs aren’t coming back (NYT)
- Spending is larger than the entire economy
- Could government end poverty?
- GMO on bonds
- Democracy has failed (if 60/40 continues to work)
- In defense of endowments
- SoftBank buying a lot of options
- Most people didn’t touch their retirement accounts in the first quarter
- Rents are falling in expensive cities
- Not commuting is putting money back in people’s pockets
- Billionaire budgets
- Don’t get a timeshare
- Airbnb is on fire
- Apple is bigger than the FTSE 100
- Tesla not being added to the S&P 500
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