Animal Spirits: The Roaring Twenties
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On today’s show, we discuss:
Recommendations:
Charts:
Tweets:
US AIRLINE PASSENGER TRAVEL WILL SET RECORD IN MARCH AND APRIL, UP 6% OVER 2023 LEVELS — AIRLINE GROUP
— *Walter Bloomberg (@DeItaone) March 19, 2024
Net worth is at all-time highs
Stock prices are at all-time highs
Housing prices are at all-time highs
Economic activity is at all-time highs
Air travel is at all-time highs
You can earn 5% on your cashI know ppl don’t like good news but this is the roaring 20s (w/o the vibes)
— Ben Carlson (@awealthofcs) March 21, 2024
Yesterday saw a new high in new highs. As shown in the chart, yesterday our reading on stocks making new 52-week highs in the S&P 500 broke out above the prior high from late last year. pic.twitter.com/0t8XHRBUoC
— Bespoke (@bespokeinvest) March 22, 2024
52wk highs on SPX hit 23% yesterday, the highest in 3-years. Rarely do we see internal highs peak with prices, they usually lead $SPX. pic.twitter.com/gSv4BFyqCW
— RenMac: Renaissance Macro Research (@RenMacLLC) March 22, 2024
Even with inflation adjustment, Americans are just spending way more on food than we did pre-pandemic — either eating more, buying more expensive stuff, or relying more on restaurants & delivery. pic.twitter.com/ehOqnoIpXB
— Matthew Yglesias (@mattyglesias) March 21, 2024
honestly wild pic.twitter.com/2ueqPdbItJ
— Derek Thompson (@DKThomp) March 19, 2024
Want to know what the median credit card debt is among U.S. households?
$0.
While some struggle with credit card debt, this isn’t the case for the majority of Americans, even if the headlines suggest otherwise.
— Nick Maggiulli (@dollarsanddata) March 21, 2024
$IBIT and $FBTC have now taken in cash for 49 straight days, something only 30 other ETFs have ever done (and none of them did it right out of gate). Among active streaks they 4th after $COWZ $CALF (which are over 100 days, damn) and $SDVY. Great chart from @thetrinianalyst pic.twitter.com/CUxFNFa7tN
— Eric Balchunas (@EricBalchunas) March 22, 2024
Monday housing data!
Available inventory of homes on the market is growing and will continue to grow until we’re finally in an environment of falling interest rates. The market could peak at 40% inventory growth over last year.
There are 9 million fewer people locked-in to 3%…
— Mike Simonsen 🐉 (@mikesimonsen) March 11, 2024
Here is a more detailed take on why I think Zillow loses:
~50% of Zillow’s revenue comes from selling leads to buyer agents.
Zillow is a public company. You can verify this. Their buyer lead program is called “Premier Agent”
Zillow has been trying to capture listing leads to… https://t.co/8RhTnZWEtA
— Nick El-Tawil (@tawillionaire) March 18, 2024
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