The ACID Capitalist Podcast Acid Breath: Dopamine Monday 29 September, 2025
Sep 30, 2025
The discussion takes a sharp dive into the complexities of the current economy, emphasizing a neutral standpoint termed 'mauve.' Hugh Hendry critiques the obsession with payroll data, advising against trading based on it. Housing markets show stagnation with mortgage rates lingering near 7%. He also explores the Texas manufacturing index, revealing a slight glimmer of hope amidst persistent weakness. The flatness of stocks and bonds contrasts with a sudden Bitcoin surge. Meanwhile, major gaming firms are catching attention due to their potential in the dopamine economy, despite fears of private credit risks.
AI Snips
Chapters
Transcript
Episode notes
Housing And Building Are Paused
- Construction spending and pending home sales were effectively flat in August after rounding.
- Housing remains stalled with mortgage rates near 7%, so the sector is paused not collapsing.
Texas Manufacturing Eased Pessimism
- Texas manufacturing index improved from -7 to -2, still negative but less pessimistic.
- Texas matters because it represents a large share of US manufactured goods and signals sentiment.
Shutdowns Versus Catastrophe
- Comparing a US shutdown fight to Russia cutting Zaporizhia power highlights differing stakes.
- One is ego-driven politics, the other risks catastrophic physical damage; choose your priorities.