While this episode spans 40 minutes (long for us!) and has a variety of topics, there are comparisons to be drawn between the discussion of how pointless jumping jacks are and the meat of the episode. That is, the recent market happenings over the past year reveal issues in how financial media outlets cover financial news on a daily – and even hourly – basis.
On the day of this recording, an otherwise pedestrian day in the markets, Clint pulls up one of the headlines from CNBC. That article seeks to attach reaction to Fed Chair Jerome Powell’s rate hike to the market movements, market movements that were less than 0.70% in both the Dow Jones and S&P 500. This spawns further discussion on how the financial media industry and its figureheads have trended toward being more forward-looking and predictive in recent years, forecasting that can be about as useful as jumping jacks.
But that’s not all we cover in this episode. We also go into the recent rate hikes, inflation, proper jumping jack form (not that it matters, per Clint), and more.