The Historic Surge in Unemployment (EP.133)

Animal Spirits Podcast

The Compound

Investing, Business News, Business, News

4.7 • 2.1K Ratings

🗓️ 27 March 2020

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this new episode we discuss the awful unemployment numbers, the new fiscal stimulus bill, restaurants in trouble, other businesses impacted, what happens if you buy too early, the best books on market panics, timing the bottom 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. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	The Coronovirus Daily Briefing is a new podcast that comes out every day by 5 p.m.
0:04.0	With the latest headlines and context around the COVID-19 coronavirus crisis.
0:08.0	From Ride Home Media, the daily podcast people, all the things that happen today, all the things you can do to protect yourself tomorrow a quick 15 minutes and you're up to date the New Yorker magazine called it one of the top coronavirus
0:18.4	Podcast to listen to saying it stays on the right side of informed, non-historical and focused.
0:23.4	Search your daily podcast app right now and subscribe to coronavirus daily briefing.
0:27.6	That's coronavirus daily briefing.
0:29.6	Welcome to Animal Spirits, a show about markets, life, and investing.
0:35.0	Join Michael Batnick and Ben Carlson as they talk about what they're reading, writing, and watching.
0:41.0	Michael Batnick and Ben Carlson work for Ritholz Wealth Management.
0:45.2	All opinions expressed by Michael and Ben or any podcast guests are solely their own opinions
0:49.5	and do not reflect the opinion of Rithol's wealth management. This podcast is for
0:53.4	informational purposes only and should not be relied upon for investment
0:56.6	decisions. Clients of Ritt Holt's wealth management may maintain positions in
1:00.0	the securities discussed in this podcast.
1:02.0	Welcome to Animal Spirits with Michael and Ben.
1:05.0	We're taping this, I guess a half hour or so after the initial jobless claims came out.
1:10.0	We've been preparing ourselves for awful economic data for a few weeks now and it's
1:17.5	still shocking to me to see these numbers so filings for US unemployment benefits
1:21.8	last week climb to nearly 3.3 million people.
1:25.4	And when you look at this on a chart, it doesn't look real.
1:28.9	The highest that it's ever been before, I guess, in 1982,
1:32.6	and it was 695,000 people.
	...

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