After a brief hiatus, the boys are back and ready for the December 12-13 FOMC meeting results. They already know it's going to be a "pause," but Chris, Saied and Haroon predict what they think will be the rhetoric coming out of the meeting. More likely than not is a rally based on pure market optimism. The boys pivot to a thorough breakdown of the wealth stratification in America today because we have reached an alarming milestone. The top 1% of American earners now own more wealth than the entire middle class. Lastly, they round out the show with a discussion regarding the housing market and what lower rates could do to the economy while Larry Summers issues a sharp warning for the real estate entrepreneur bros.
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Resources:
A 'severe recession' may be coming in 2024 as the stock market, job market flash warning signs, strategist says(Business Insider)
The top 1% of American earners now own more wealth than the entire middle class (USA Today)
Homebuyer conundrum: If mortgage rates fall, bidding wars will follow, expert says (Yahoo! Finance)
Home prices will fall for the first time since 2012, Redfin’s chief economist predicts. Here’s why they will still be ‘out of reach’ for many buyers (Fortune)
Here's Where Mortgage Rates and Home Prices Are Heading, According to Zillow and Redfin (Money)
Bank of America CEO Brian Moynihan says YOLO spenders aren’t wrung out just yet: They’re ‘in pretty decent shape’ (Fortune)
The Fed will spark a 'seismic moment' if it cuts rates, and should wait for overwhelming evidence the economy is slowing, Larry Summers says (Business Insider)
How many times will the Fed cut rates? Here's what Wall Street expects for the key stock-market driver in 2024 (Business Insider)
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