Tue, 23 May 2023
Wolf Richter summarizes that the economy is a mix of different sectors, with some doing well and some struggling. Consumers are still spending, but the banks are facing high interest rates and the commercial real estate sector is facing repurposing and foreclosure. The auto industry is seeing a decline in sales, but Tesla is still doing well. Tesla is shaking up the auto industry by cutting prices and building production capacity in large amounts, forcing legacy automakers to compete on price. This is good for industrial America and consumers, but bad for automakers as sales of internal combustion engine vehicles are at levels not seen since the 1970s. Electric utilities are also benefiting from increased electricity sales. Wolf Richter and Kerry Lutz discussed the current state of the financial system, with Wolf noting that the economy is adjusting to higher interest rates and that banks are struggling with them. They also discussed the possibility of the Federal Reserve cutting rates and the potential impact it would have. Wolf concluded that the economy will muddle through and that it will be many more years before autonomous driving is widely available. Visit Wolf's site: https://wolfstreet.com |
Tue, 23 May 2023
Joe Robert is investing in two different areas, one being real estate in the Outer Banks of North Carolina and the other being Web 3, which is the next software evolution that allows for peer-to-peer transactions without intermediaries. He believes that now is a good time to invest in Web Three as people are scared away from it due to the over leveraged companies that have blown up. Examples of Web 3investments include Bitcoin and Ethereum. Joe Robert and Kerry Lutz discussed the impact of Fed Now and other digital assets on the Ethereum blockchain. They also discussed the potential of utilizing technology, AI, and no-code applications to make businesses more efficient and increase sales. Lastly, they discussed the possibility of acquiring businesses with outdated management and technology to upgrade them and increase their value. |
