The boys are finally back together again. Haroon has welcomed the birth of his second daughter and Saied is back from his family’s Hawaiian vacation. To start the show Chris, Saied and Haroon wanted to emphasize their thoughts and prayers are with the people of Maui who have been impacted by this tragic and devastating fire. After which, they jump in to Ray Dalio’s interesting recession perspective. Saied gives a complete rundown of July’s inflation numbers and Chris continues to declare that the JOLTs report is manipulated and can’t be trusted. Something interesting is happening in Minneapolis, home prices hit a record high in 60% of U.S. markets and credit card debt hits a record high at $1 trillion dollars. Then, despite Chris thinking that asking for reviews was a colossal waste of time, we got several new amazing honest five star reviews. This of course continues to prove that 50% of the time Chris is wrong, every time.
Resources:
Billionaire investor Ray Dalio says the Fed’s measures haven’t slowed consumers down, and the government is paying the price (Fortune)
July CPI report shows inflation gauge rose 3.2%, less than expected (CNBC)
US economy adds 187,000 July jobs in sign labor market is cooling (The Guardian)
First American City to Tame Inflation Owes Its Success to Affordable Housing (Bloomberg)
Home prices hit record highs in 60% of U.S. markets (CNBC)
Rental housing cost rises to ‘slow significantly’ over next 18 months, Fed researchers say (Market Watch)
Credit card debt hits a record high at $1 trillion, NY Fed says (Yahoo! Finance)
Americans are pulling money out of their 401(k) plans at an alarming rate (CNN Business)
July jobs report: U.S. payroll growth totaled 187,000, lower than expected (CNBC)
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