The Best Way to Get a Raise (EP.216)

Animal Spirits Podcast

The Compound

Investing, Business News, News, Business

4.7 • 2.1K Ratings

🗓️ 4 August 2021

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On today's show we discuss Ben's recent trip to NYC, how the psychology around money can shape your relationships, the 1987 of recessions, the Robinhood IPO, changing how we think about debt, how much money it takes to feel financially secure and 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. 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.
0:04.7	I got a new thing for the recession. I'm going to start calling this the 1987 of recession.
0:09.6	So there was this chart going along around last weekend. Twitter saying that if you plot out
0:14.9	nominal GDP, you have that big dip and then it comes back and it's basically on the pre-crisis trend.
0:20.9	So if you had a trend of GDP going up, it looks good. So I looked back at US GDP, I pulled up
0:26.7	on a Y-charts and it basically went pre-pandemic $21.7 trillion. It dipped to 19.5 trillion in that
0:35.2	quick recession, which we talked last week, two months. Now back to 22.7. It's just this huge V,
0:41.7	you know, like everything else. Retail sales also looked this up on Y-charts. This is even higher.
0:46.2	This is like above trend. So I'm guessing this thing is going to continue to come back down a little,
0:50.3	but it went from 460 billion US retail sales down to 380 billion. Now back up to 550 billion. So
0:57.8	this one is above trend. This really was our 1987 of recessions, correct? It happens so fast.
1:04.7	Everything is a V. I'm a line chart guy. I love using line charts at Y-charts. If you haven't
1:09.9	tried it out yet, go to them, tell them animal spirits sent you and get 20% off of your initial
1:13.7	subscription to the service. And I'm a V-neck guy. So I appreciate the V's that I'm saying the charts.
1:18.5	And these are deep V's just like you like. That's right.
1:21.9	Welcome to Animal Spirits, a show about markets, life, and investing. Join Michael Batnik and Ben
1:28.2	Carlson as they talk about what they're reading, writing, and watching. Michael Batnik and Ben
1:34.0	Carlson work for RIT Holt's wealth management. All opinions expressed by Michael and Ben or
1:38.4	any podcast guests are solely their own opinions and do not reflect the opinion of RIT Holt's
1:42.8	wealth management. This podcast is for informational purposes only and should not be relied upon for
1:47.5	investment decisions. Clients of RIT Holt's wealth management may maintain positions in the
1:51.4	securities discussed in this podcast. Welcome to Animal Spirits with Michael and Ben.
	...

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