At the risk of turning this week into International Lawrence Lepard Week here on the blog, I had a wonderful conversation with my friend Larry yesterday on my podcast.
Great listen and thought provoking. Since I'm a giving man and very generous with other people's time, it would be great to hear you both follow up in approximately 2 months when we've gone through another quarter and another Fed meeting. Larry's up front honesty, especially with how the circumstances in the GFC blew up in his face when things fell apart but the big earthquake didn't happen, really held my attention. In the meantime, where is Marc Spiegel? We need some red meat now that Tesla has released earnings and proven it's worth it's 205 P/E with with net income about a 4th or 3d of Ford's (and a Ford P/E of nothing...well, 3.5 which is about nothing in this day and age). How about that offer for Musk Spindustries to buy out their main marketing agent, aka Twitter, and keep free speech alive? *there may be some sarcasm at hand. The shocking thing for me is to that, across the 'normal' conservative and libertarian-bitcoin spectrum, so many are falling for another Elon Da Vinci-Washington narrative. Unfortunately, I see a strong knee jerk reaction in favor of Musk because he figured out that tugging the nose of the woke mob and Hollywood earns a lot of social credit with those in the libertarian-pro bitcoin-pro sound money-pro conservative camp who take his bs at face value.
Too much Inflation everywhere...
Guys. Just a fantastic discussion and sharing of ideas. I admit confirmation bias can be an issue, but i think both your points and heated agreement are spot on. 5 decades of neo-Keynesianism will come to an inevitable end and gravity will reassert itself and prevail over the bull shit. Thanks and keep up the good work!
Fed and politicians always say this dumb stuff. Pre covid they were talking about being worried of deflation, last year it was transitory, now it's global affairs impacting inflation. They get it wrong, and their mistakes impact people greatly, but never any consequences.