The American Economy in Real Life
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 5 May 2023
⏱️ 16 minutes
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Summary
Today's Post - https://bahnsen.co/3VABmav
I think this is a good week to do something many people will not be expecting. I don't do clickbait, and I loathe the sensationalism of most financial writers. But because most financial writers make their living writing about finances and I make my living managing real finances, I have never been captive to the sensational. I can just call balls and strikes, be my authentic self, and share a point of view that I believe is rooted in truth and cogent thought. I can be wrong, but I am not ever melodramatic.
So when I say this week's Dividend Cafe may be unexpected, it is more about the sentiment and buzz in the air these days, not about me or any "shock and awe" I am going to deliver. And in fact, the surprise may take the opposite shape of what you expect.
So jump on into the Dividend Cafe, and let's look at the shockingly unexpected news that, wait for it - the American economy has not been the dystopian nightmare many have assumed it to be.
Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the Dividend Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:10.4 | Hello and welcome to the Dividend Cafe where I am back in Newport Beach and happily recording about a very happy topic. |
| 0:20.5 | And it's going to be one that I've spoken about many times where people could take |
| 0:25.1 | the message to be unhappy. |
| 0:27.5 | And yet such is the nature of talking about the economy. |
| 0:32.3 | That sometimes there's a theme that is understandably and justifiably negative. |
| 0:37.9 | And other times there's a theme that is not. |
| 0:40.7 | And it's not just because the news changed. |
| 0:43.1 | And it's not because the person giving the news changed. |
| 0:46.3 | But that that is literally how complex such a thing can be. |
| 0:50.6 | That there are different times all at once positives and negatives. |
| 0:55.7 | And I felt it was time for a little positive refresher because there is a sense in which I think |
| 1:06.3 | the majority of our economic dialogue focuses on the negative. |
| 1:11.8 | Some of that in the context of our work as portfolio managers and real-life investment advisors |
| 1:20.7 | dealing with real money on behalf of real people who have real goals, as I say all the |
| 1:25.6 | time, it does tend to lean on the defensive and the |
| 1:31.3 | guarded and the risk mitigation side of things. And so it's understandable that we'd be talking |
| 1:38.0 | more about certain things that could go wrong or that have gone wrong or will go wrong than |
| 1:42.5 | things that could go right. |
| 1:44.6 | But nevertheless, a full macroeconomic understanding of the world is at times going to sound like a very pleasant conversation. |
| 1:54.5 | And I first, I think, want to say that a lot of this has to do with a very basic economic law itself, the law of incentives. |
| 2:04.2 | That rational and reasonable actors, human beings, respond to incentives. |
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