Episode notes
Today’s episode of The Breakdown looks at the stories the stock market is trying to tell, including:
- New all time high in total market capitalization to GDP ratio (higher than dotcom bubble)
- “No precedent for how high” valuations can go
- Fed denies asset bubble; intimates it wouldn’t care about asset bubbles if full unemployment comes with it
- Bezos at $200,000,000,000
- Percentage of stocks traded by individuals reaches all time high of 20%
- Robinhood leads in FTX complaints
- Buffett’s Japan trading firm bet
