Joy, Gratitude, and the difficulty of knowing what narrative to believe. Still to come: Jerome Powell's speech at Jackson Hole, and reaction to negative revision to Jobs numbers. Four rate cuts by the Fed before the end of the year? How to make volatility work for you. Taxation of unrealized gains: It's a dumb idea. What about credits for losses?? (You absorb the losses, the Gov't takes the gains.) Thank goodness for Congressional gridlock. Schwab study, "What is Wealthy?" $2.5-mil average. The danger in benchmarking against surveys, S&P, and others' portfolios. Inflation vs deflation: The chatroom explodes. Preparing for Recession, even when there isn't one. Yet. The financial security cushion; Schiller's CAPE calculation: How will this affect you in distribution mode? Debt-to-Income Ratios: What are they really for (and who benefits more - you or the bank?) Joy in the markets & Animal Spirits: The joy of paying off debt, moderating risk, avoiding the retirement fund death spiral. The best use of 401k funds and the hierarchy of savings. Keeping human skills fresh. Oh, and Almond Joys.
3:10 - Joy & Gratitude: The Difficulty of Which Narrative to Believe 14:27 - Taxation of Unrealized Gains - It's a dumb idea 30:23 - Inflation vs Deflation & Chatroom Wars 33:35 - Preparing for Recession at Home 44:31 - Joy in the Markets & Animal Spirits
