On this week’s unfiltered video version of Prof G Markets, Scott breaks down what the latest inflation data means for the American economy. He then shares his thoughts on OpenAI CEO Sam Altman taking a nuclear power company public via SPAC. Finally, he explains why private equity firms are circling mom-and-pop businesses.
Timestamps:
00:00 – This week’s number
00:28 – Today’s episode
01:37 – Market Vitals/Headlines
15:58 – The End of Inflation
25:35 – Sam Altman’s SPAC
39:05 – Private Equity’s Latest Target
50:10 – Prediction Follow-up: Tesla
52:14 – Week Ahead
52:28 – Prediction
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My god Scott, the vitriol over Elon is so hard to digest when it’s stuffed full of insane hyperboles and political biases. The guy has many flaws, but you making more up just reflects on you- not him.
to be fair, J. Biden put up a proposal with a new tax scheme, the Congress (Republican Majority) declared it 'dead on arrival'.
There are still very strong indicators that the recession happens in the second half of this year.
Loan generation is through the floor, commercial real estate is through the floor, and after the normal spring price increase in residential (peaks in May every year since forever), it will be through the floor too.
Banks won't be ok, starting with BoA, followed by many smaller banks hemmed up in the commercial, that needs refinance at the new rates.
Raising the rates this quickly will prove to be a catastrophic mistake, it's just taking longer than doomers would like.
The math is still unfixably bad for banks.
Pro-capitalism Elizabeth Warren is far-left?
Go bears!
Bruh Powell was INSANELY late raising rates and now that he’s had to raise rates faster than any time in history and inflation finally cools, you think he deserves person of year for that? He CAUSED the insane inflation in the first place
Pay me for my data or else I will…???
Wtf- I’m 69, educated Natural born and pissed. My soc security and my intentioned other cultural contributions were intended to include a book, art and music. I’m watching the world watch itself and the AI doing the watching for us is fucking us. Or maybe the new way is to let AI become a 3d ‘feelies’ chamber where we can do a full body non stop masturbation. After, we can become monolithic Kings and Queens(or other proper multi gender god descriptors).
Don’t tread on my MIND!
Joe Manchin and Kyrsten Sinema were the ones who blocked the tax increase for the wealthy.
I love the grounded reality of this channel!!, Despite the financial instability all over the world, I’m so excited this second time withdrawing $78k profits off my investment
I love how G is tripping balls, but is amazingly on point
I'm out until Ed brings in a new guest.
Elon Musk is not a "brilliant visionary," he is a con man with a brilliant ability to drum up publicity, good, bad, or ugly.
I don't believe in the wisdom of crowds…. With all due respect Prof G.
Everyone including you has just forgot the impact of near 0% interest rates and mortgage buying on housing markets for nearly 10 years. Went insane during pandemic. If you think inflation is under control after over 10 years of inflated housing prices and over pandemic 30% to 40% increases your smoking something. Unless housing drops 30% to 40% were in real trouble. 2% inflation on top of 50% housing increases is not a win. The Fed was behind this huge mistake.
5:43 1st Prof G it's very simple, truth vs woke, these ai models have filters and adjustments. Truth is not filtering and not adjusting narrative.
And please stop parroting each other, I suggest mixing in diverse takes ❤
Private equities, as it is run today, not all but for many of them, are a cancer upon humanity. Without regulation, they've weaponized money and use it against society and screwed over everything. Bribing gov regulators. Bribing politicians. Making bad legislation. Hoarding residential properties. Gaming electricity prices. Killing corporations. Cutting employees. Strip selling assets. They do so much damage and most of the time without using their own money or adding any value to anything. Literally a price gouging parasite. We need more regulation. We need to control what they can or cannot hoard. We need to tax the living daylights out of them. And we need to control, if not completely stopping them from, leveraged buyouts.
Scott is great except the liberal part of him.
Another week's episode ruined by the old guy moaning about Elon Musk sadly
The carried interest loophole is the easiest way to make taxes more fair.
Scott: I want to be a billionaire
Scott: I don't think anyone should be 100 billionaire.
rant away … Pointing out the obvious has got me kicked out of the meeting more than once … lol
Ed is a british guy who thinks US government employees are the smartest guy in the room…. its beyond pathetic
Elon's spiral tracks the timeline of one of his children becoming trans. He just can't accept it.
Congrats on a year!🎉 you’re my Tuesday go-to here in Australia. Thanks PG & Ed. Keep going!!
Why aren’t people discussing the number of active users on Threads? The number of users isn’t enough. It’s a one click transition and extremely hard to leave. No other platform have made it so easy to “check outs what’s new”
Doesn’t mean they are here to stay. I think threads will spike and then fall off cliff
Thanks for episode!
Nuclear energy has one economic liability—no private insurer. Self-insurance and an overt/implied state-backed insurer is the base case. Not your typical business case, i.e. TEPCO after Fukushima. Did this face Altman?
Team elon
I dont agree with the doomers but on one point, and that is the debt to gdp ratio. I believe in balancing ones checkbook, so to speak. We are printing our money into worthlessness. The best case scenario is Japan, but most countries with that debt to gdp ratio are failed African and Latin countries. Google it.
Get ready for the gold backed BRIC currency, that will have a chance to rock the dollar hegemony, IF they can safely gold back it, structure it correctly, and keep it liquid and available.
Sounds like Scott’s been doing edibles today.
Sounds a bit more stoned than usual. Perceptive but a bit more chill and rambling than usual. Maybe he’s just a bit tired.
Always a great show.
Quite harsh on Elon when Zuck hardly has clean hands.
I am just listening to you guys. And I know for you, @profgalloway , for saying it often that you do not like Elon Musk, fine I respect.
And Zuckerberg showed us what he is capable of doing & Musk is the fast growing one
I ‘ve given a lot more interest lately in Elon Musk, listening absorbing, and of course he has major goals other than Mars…? I do not doubt.
Now & though him, Musk, mentioning that we cannot let AI go forward without building structures or an architectural concept of secured regulations & rules or antidotes in some sensitive specific given areas. That to me h is 100% right. ( my opinion)
We cannot behave and do nothing like we did with the internet, following with the social media platforms.
The world was overtaken by this new technology concepts .
It was not a question of giving strict rules to take off people’s freedom but certainly not to modify the whole human’s cultures as it happened
Everything in life has guide lines, limits, restrictions or obligations that we follow . That in itself is what maintains the equilibrium when new elements have to intertwine in the existing systems
We did zero, nothing when humans from all ages got totally addicted to Social Media. Even if that led to lots of positives though bad negatives too we know.
Internet was such a positive revolution for everything we do daily in life or in business that we people grabbed it all, like it’s too good to be true. We self taught ourselves.
We wouldn’t know how to behave if it were taken away from us today…
Though Zuckerberg ( Facebook) has admitted back 3-4 years ago, that he never planned or imagined that it would be so much out of hands or control as this giant proliferation of the Social Media…
So Musk is saying that he is creating the XAI, because he intends to create all the regulations around his projects.
He insists that the danger is to not do it.
So of course my reading is that Musk is anticipating to be himself possibly caught into the existing AI which would be in power to possibly destroy his own (Musk’s) big operation’s’ artificial intelligence.
So he sells us the fact that we need a competitive safe AI ….?…. Ahah…if you understood me….I am so lucky & so will you 🇫🇷🇺🇸😂
Amazing episode, great job
I’m starting to think you don’t like Elon because he likes freedom of speech and you prefer censorship. Not a good look Prof g. Prove me wrong.
I’m really curious what you guys think about the current new and used car markets.