Videos Of The Week
A Quick Hit On Powell's Speech, The AI Capex Bubble & An Interesting Filing In The Sable Lawsuit
I wasted some time on Friday and killed a couple brain cells watching Jerome Powell’s speech at Jackson Hole, and it sounds like they are going to run it hot, and consensus is that we are going to see rate cuts. I could rant with my opinion on the state of the economy (it’s not that bad, but it’s not that good), but my general view on what is going on is that no one knows exactly what is going on as far as the macroeconomic picture. There are just way too many moving pieces that are changing frequently to have a strong view on the economy in my opinion. Tariffs, inflation (not the shit they put in the CPI), immigration, unemployment, and a bunch of other factors are all going to play a part in where things go from here. Part of me thinks we should move to the South Park style central bank meetings, but I digress.
The Market Huddle w/ Kuppy
This podcast will give everyone a lot to think about as far as markets. They talk about AI, and why it’s a commodity service. They also get into the biggest questions that tech investors haven’t answered in my opinion, and it’s something I have talked about in the past. When does the revenue show up for the AI capex? And how much? Outside of the AI capex boom, Kuppy’s framework right now is that the economy is slow, inflation is higher than the CPI, and he thinks we could be headed for a recession. They also got into the topic of the wealth effect, and what happens if stocks start going down, and why there is potential for multiple compression on equities.
“In the old days, recessions caused stocks to go down. Today, stocks going down cause recessions.”
Pony Express Radio w/ Karl Dahl
This is more on politics and current events, but it was my favorite video of the week. My friend
was on a roll in the middle of the show, but you guys should definitely watch for yourselves. They talked about everything from the people in the US on visas to the circus at Cracker Barrel with their redesign. It’s one of my favorite weekly programs for an update on everything going on in the US, and it’s always entertaining.