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The Compound and Friends
Why Americans Hate Joe Biden’s Economy
Nov 15, 2023
Rob Copeland, author of 'The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend,' joins Michael Batnick and Downtown Josh Brown. They discuss Bridgewater's strange culture, Ray Dalio's influence and bullying tactics, and the challenges of asset management. They also analyze transitory inflation, AI's impact on jobs, and the economy's future projections.
01:48:25
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Quick takeaways
- The majority of American voters are dissatisfied with President Joe Biden's economic policies, with only 14% believing they are better off financially since he took office.
- Public perception and sentiment regarding the economy and administration are greatly influenced by the impact of inflation, with dissatisfaction increasing as inflation rises.
Deep dives
October CPI shows no change in prices, indicating a lack of inflation
The October Consumer Price Index (CPI) report revealed that prices remained flat, suggesting a lack of inflation. Absent shelter, prices did not see significant changes, indicating a gradual slowdown in the cost of living. This is a positive development compared to the substantial inflation seen in previous months. While certain sectors, such as food and energy, experienced price increases, the overall trend suggests a more stable economic environment.
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