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An economic comparison of where boomers were at the same age as millennials leads to only one conclusion: Millennials are screwed.
This episode is sponsored by Bitstamp and Ciphertrace.
The big narrative in financial media for the last few weeks has been the insurgent Robinhood rally, led by the AC/DC-blaring Pied Piper Dave Portnoy, owner of Davey Day Trader Global Global (DDTG Global).
As people try to make sense of the strange retail trading phenomenon, one perspective is the participants (average age of 31 on Robinhood) are reacting to a market that has left them behind. In this view, they are assaulting the market with otherwise outrageous and ludicrous strategies because, otherwise, how will they get their piece?
This week’s Breakdown Weekly Recap looks at this in the context of some surprising (and frankly depressing) stats about the millennial generation’s current wealth, as compared to where boomers were at the same time in their careers.
This week on The Breakdown:
Monday | Sorry, Bloomberg: Here Are 6 Reasons Why 2020 Is a Great Year for Bitcoin
- A Bloomberg senior editor today argued there were six reasons why 2020 was bad for bitcoin. Here’s the opposite case.
Tuesday | From Moral Hazard to Business as Usual, Feat. Jesse Felder
- A leading independent financial analysis shares thoughts on the “Robinhood rally,” Fed policy and why Modern Monetary Theory (MMT) is already here.
Wednesday | What Satoshi Understood: Nobody Knows You’re a Dog on Social Media, Feat. The Crypto Dog
- A conversation about pseudo-anonymity, global digital nomadism and the trader’s mindset.
Thursday | 6 Things Jobless Claims Tell Us About the State of the Real Economy
- Persistent unemployment and fears of further layoffs are the real economic counterpoint to the financial market’s unbridled enthusiasm.
Friday | Why Monetary Debasement Is Here to Stay, Feat. Dr. Vikram Mansharamani
- From technology to aging demographics, some of the most important trends shaping the economy have been deflationary. What happens when that rapidly changes?