Who Owns the Stock Market? | Animal Spirits 366

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Ben carrying the convo for the first 20 mins

The batnick pic as the character from seinfeld was the best. Great photoshop job guys.

We spend so little on food compared to the rest of the world because of the farm bill. We subsidize like crazy. Bread and circus, it’s a powerful tool.

On the subject of food costs people tend to conveniently forget almost all food in the US is heavily subsidised by the government. As a friend once put it “we have to drink shitty coke sweetened with corn syrup because our taxes payed for the corn allowing McDonald’s to buy it cheap and sell It back to us at triple the profit margin of a coke in Canada”

One of my biggest pet peeves. When an idiot is glued to their phone when a light has been green for more than 3 seconds deserves a honk. Light honks are fine. Not trying to be a dick.

I remind myself that the Dutch east India Company VOC, starting in yr 1600 provided %20 annual returns for almost 200 years. That was one company. The S&P 500 is much more diversified.

Great show, guys. I see a lot of people are now trading off the moon cycles with surprisingly great results 😅

On the food thing. At least Europeans and Japanese spend more for better quality diet. Not surprisingly, those countries have longer healthier lives.

If I found out my financial advisors spent $600 on concert tickets I would fire him on the spot 😂

34:46 this was a very solid take by your viewer. We are addicted to low interest rates as constant consumers

With three kids, our grocery bill is way higher than 6% of our pay

Loved the discussion on concerts. My daughter and husband attended the Dead and Company at the Sphere in Las Vegas for 3 nights. I am 80 and my concert going is the Jazz Bistro in St Louis. Keep up the discussions. You guys are the best and of course Josh. Love your charts. Thanks

Great historic charts for perspective. f you ever get too caught up in the movements of the stock of the day (Nvidia) or theme of the moment (Mag 7), just watch old episodes of the NBR (Nightly Business Report) the old PBS business/finance news show on public television circa 1979 to 2013 on Youtube.... Tune in for the crash of 87, the late 90's tech boom, or the start of the GFC, etc... It is nostalgic but also provides perspective on the main issue of that day in history and gives you a sense of the value of the long game, holding through the ups and downs. And "wishing all of you the best of good buys (or goodbyes)" .. RIP Paul Kangas IYKYK

The way batnick says "tarot" like carrot is hilarious

Thanks Fellas. Good show..gotta run market open .👋

after yesterdays episode of wryt batnick just needs to sign all his emails Rockin Ass, Batnick

Nice shirt!

Productivity is input hours divided by output hours. Output hours is how many hours it takes to produce a product. Input hours are hours worked. When people produce more product in an hour this is increased productivity. Most productivity gains come from improving processes via capital investment. Examples would be robots and automation. Productivity movements actually has little to do with effort of employees outside of extreme examples. The Industrial revolution greatly improved productivity and made people's work easier.

If you overlap the productivity chart with a chart of the US Dollar vs the Euro (or GBP) they track pretty well. In a global economy how much of the productivity gap is caused by a weakening local currency, where the same output of work in euros is now worth less in the world reserve currency? Is the productivity gap a currency effect, or is it the opposite and the productivity increases are causing the dollar to strengthen?