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Animal Spirits: This is the Dumb Money
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Animal Spirits:
On today’s show, we discuss:
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Tweets:
If @WSJ reporters actually covered the markets, they'd know why they're up.
President Trump’s One Big Beautiful Bill prevented the largest tax hike in history and introduced economic drivers like full expensing, no tax on tips/overtime, and tax cuts for seniors.
Pair that with
— Treasury Secretary Scott Bessent (@SecScottBessent)
8:30 PM • Jul 22, 2025
There is a bit of mythologizing about how we forced all young people to go to college and now they are economically ruined.
Around 60% of people in their 30s do not have a college degree.
And the college wage premium remains near a historical high.
— Adam Ozimek (@ModeledBehavior)
7:41 PM • Jul 18, 2025
Bitcoin is amazing, but it’s obviously been co-opted to some degree by the very people that it was created as a hedge against.
Many of the most ardent early whales have seen their faith shaken and have been selling at these prices.
— The Wolf Of All Streets (@scottmelker)
1:03 PM • Jul 26, 2025
New record high for existing single-family home prices in June
— Kevin Gordon (@KevRGordon)
2:26 PM • Jul 23, 2025
We’re about to hit 3 years of 6.5% <---> 7.5% mortgage rate purgatory
Sure, the average 30-year fixed has had a couple of brief breaks from it, but we keep getting sucked back in
— Lance Lambert (@NewsLambert)
10:35 PM • Jul 17, 2025
BOX OFFICE: #FantasticFour opens to $118M, domestically. That is..
- On par w/ Guardians Vol. 3 (also $118M)
- Biggest opening ever for a FF film
- The biggest opening ever for all 4 FF stars
- The 4th 2025 film to open over $100M
- The rare instance where two July movies opened— Erik Davis (@ErikDavis)
3:48 PM • Jul 27, 2025
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