So Bearish It's Bullish (EP.409)

60 snips

Apr 23, 2025

The hosts humorously compare today's market fluctuations to those of 1929 and 1932. They discuss the impact of tariffs on small businesses and navigate the challenges of the falling dollar. Retail behavior shows resilience as younger generations continue to buy the dip. Insights on Bitcoin reveal it is decoupling from traditional trends. The light-hearted exchange also touches on the unpredictable nature of the economy, all while weaving in personal anecdotes that add a relatable touch to the market's complexities.

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INSIGHT

Baby Boomer Leadership Challenges

Baby boomers struggle to relinquish power, causing awkward political transitions.
Recent presidencies show signs of being over the hill, hurting confidence in leadership.

INSIGHT

Tariffs Threaten Small Businesses

Tariffs threaten millions of American small businesses and cause supply chain collapses.
Big corporations can reroute goods, but small businesses face significant challenges and risk bankruptcy.

INSIGHT

Corporations Adapt to Tariffs

Corporations will find ways to mitigate tariff impact, likely softening price rises and shortages.
However, tariffs may only cause marginal inconvenience without ending economic interdependence.

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On episode 409 of Animal Spirits, Michael Batnick and Ben Carlson discuss: some 1929 and 1932 comparisons, the impact of tariffs on small businesses, supply chain problems are coming, putting the dollar's move into perspective, jumping into a recession, why a recession might feel worse than it actually is, the correction is still relatively mild, retail keeps buying the dip, Bitcoin is decoupling, $145,000 mud rooms and much more!

This episode is sponsored by YCharts. Grab a copy of their new deck: https://go.ycharts.com

Find complete show notes on our blogs:

Ben Carlson’s A Wealth of Common Sense

Michael Batnick’s The Irrelevant Investor

Feel free to shoot us an email at animalspirits@thecompoundnews.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management.

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