E74: Market update, inverted yield curve, immigration, new SPAC rules, $FB smears TikTok and more
- Apr 1, 2022
- 1:39:11
- Full Episode
0:00 Sacks' DC trip and foreign policy speaking gig 5:50 Yield curve inversion, breaking down the current state of the markets, understanding the labor market through birth rate and immigration 26:16 How the US can fix its current economic issues, reframing high-skilled immigration 48:54 SEC's new proposed rules around SPACs and climate disclosures for public companies: how will both markets be impacted 1:10:29 Meta used a GOP firm to run a smear campaign against TikTok in the US: dirty, necessary, or both? 1:19:03 Food shortage update 1:24:33 Sacks and Jason reflect on Biden's inflammatory comments on Putin
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Referenced in the show: https://www.theatlantic.com/magazine/archive/2016/04/the-obama-doctrine/471525 https://www.reuters.com/business/finance/part-us-yield-curve-just-inverted-does-that-mean-recession-is-coming-2022-03-28 https://www.federalreserve.gov/econres/notes/feds-notes/dont-fear-the-yield-curve-reprise-20220325.htm https://markets.businessinsider.com/news/stocks/restoration-hardware-stock-price-ceo-warns-big-short-economy-inflation-2022-3 https://www.google.com/finance/quote/PATH:NYSE https://www.theatlantic.com/newsletters/archive/2022/03/american-population-growth-rate-slow/629392 https://fred.stlouisfed.org/series/CIVPART https://www.cnbc.com/2022/03/31/2-year-treasury-yield-tops-10-year-rate-a-yield-curve-inversion-that-could-signal-a-recession.html https://www.wsj.com/articles/joe-bidens-big-new-wealth-tax-white-house-budget-fy-2023-11648504962 https://www.bloomberg.com/news/articles/2022-03-28/manchin-pans-biden-s-proposed-tax-on-unrealized-gains-of-wealthy https://theliberalpatriot.substack.com/p/democrats-go-directly-to-the-center https://www.bloomberg.com/news/articles/2022-03-29/spacs-face-fresh-sec-legal-threat-for-overly-bullish-forecasts https://www.bloomberg.com/opinion/articles/2021-05-27/spacs-can-take-away-the-insiders-advantage-in-ipos-and-markets https://www.bloomberg.com/opinion/articles/2022-03-22/the-sec-will-regulate-climate https://www.cnbc.com/2022/03/30/sec-targets-spacs-with-new-rules-about-forecasts-mergers.html https://www.washingtonpost.com/technology/2022/03/30/facebook-tiktok-targeted-victory/ https://www.agweek.com/news/ukraine-ag-production-could-drop-80-fertilizer-prices-to-cut-food-supply-long-term-uk-expert-says https://farmdocdaily.illinois.edu/2022/03/wheat-in-2023.html https://farmdocdaily.illinois.edu/2021/09/information-on-2021-cash-rents-with-implications-for-2022.html https://www.agweek.com/news/usda-nass-to-livestream-prospective-planting-report https://www.npr.org/2022/03/28/1089300515/biden-putin-remarks-regime-change https://www.msn.com/en-us/news/world/putin-s-approval-ratings-soar-amid-russia-s-war-in-ukraine/ar-AAVI29R
Brief Summary
The hosts discuss foreign policy, economic forecasts, and immigration reform, emphasizing the need for a restrained approach and a points-based immigration system.
Key points
- Foreign Policy Chaos. A critique of U.S. foreign policy over the past 30 years.
- Economic Predictions. Discussion on the inverted yield curve and its implications for recession.
- Deregulation for Better Pricing. Massive deregulation is needed to improve housing and energy pricing.
- Equity vs. Progress. The tension between equity and progress is causing societal issues.
- Declining Birth Rates in LA. Los Angeles is facing a dramatic decline in birth rates, impacting future growth.
- Shifting Voter Dynamics. Working-class voters are increasingly leaving the Democratic Party for Republicans due to cultural issues.
Episode highlights
- Foreign Policy ChaosA critique of U.S. foreign policy over the past 30 years.“We've lost all of those wars.”2:46Apr 1, 2022
- Economic PredictionsDiscussion on the inverted yield curve and its implications for recession.“It predicts a recession.”6:00Apr 1, 2022
- Deregulation for Better PricingMassive deregulation is needed to improve housing and energy pricing.“We need to have better energy policy.”22:30Apr 1, 2022
- Equity vs. ProgressThe tension between equity and progress is causing societal issues.“We want to give up progress and we want to get equity.”32:21Apr 1, 2022
- Declining Birth Rates in LALos Angeles is facing a dramatic decline in birth rates, impacting future growth.“In the last 20 years, we've seen a 50% reduction in the birth rate in LA.”40:31Apr 1, 2022
- Shifting Voter DynamicsWorking-class voters are increasingly leaving the Democratic Party for Republicans due to cultural issues.“The Democrats have become a professional class party and the Republicans a working-class party.”45:17Apr 1, 2022
- SEC Regulation ChangesThe SEC proposes new regulations for SPACs, raising questions about their impact on everyday investors.“The SEC is trying to do the right thing, but we need better on-ramps for investors.”51:20Apr 1, 2022
- The Flaws of Carbon MarketsExperts discuss the ineffectiveness of current carbon markets and the potential for grifting.“Carbon markets are absolute BS!”1:03:22Apr 1, 2022
