A Bear Market in Housing (EP.286)

Animal Spirits Podcast

The Compound

Business News, News, Investing, Business

4.7 • 2.1K Ratings

🗓️ 7 December 2022

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today's show we discuss continued strength in the labor market, sticky high inflation, why the market isn't listening to the Fed anymore, the case for a 20% decline in housing prices, why Netflix rules streaming, sending back a drink at the bar and much more. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And feel free to shoot us an email at animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation. (Wealthcast Media, an affiliate of Ritholtz Wealth Management, received compensation from the sponsor of this advertisement. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information.) Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Today's animal spirits is brought to you by our friends at Y-charts.
0:03.3	On the show today, we're talking the labor markets.
0:06.4	All right, so we've pulled up some of my favorite charts here.
0:09.3	US job openings, non-farm, obviously. Total unemployed people in the US and total quits.
0:16.4	Quits is basically flatlined. Unemployed persons has come down and has also kind of flatlined.
0:22.4	And job openings is rolling over, but just a little bit.
0:26.1	To the normal person, this is good news. To the economist, this is bad news.
0:31.7	Because people are still quitting their jobs, which is a sign of a healthy labor market.
0:36.8	And there's still a ton of job openings, more job openings than unemployed people.
0:41.6	And this means bad news for inflation, which means the Fed keeps raising rates. Fair?
0:46.8	Yeah, we're going to get into the jobs report day to last week and the market's reaction to it.
0:50.8	It was an interesting one.
0:52.1	If you want to check out charts like this, remember to go to Y-charts.com, tell them
0:55.5	Animal Spirits sent to you. Get 20% off that first subscription.
0:59.6	Welcome to Animal Spirits, a show about markets, life, and investing.
1:04.3	Join Michael Batnik and Ben Carlson as they talk about what they're reading, writing, and watching.
1:10.5	Michael Batnik and Ben Carlson work for Ritholds Wealth Management.
1:14.0	All opinions expressed by Michael and Ben or any podcast guests are solely their own
1:18.0	opinions and do not reflect the opinion of Ritholds Wealth Management.
1:21.3	This podcast is for informational purposes only and should not be relied upon for investment
1:25.6	decisions. Clients of Ritholds Wealth Management may maintain positions in the securities
1:29.6	discussed in this podcast.
	...

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