Welcome to Talk Money Weekly - where I cut through the noise and curate the best money-related topics from the web.
There were so many good gems this week! This one is a little longer, but well worth it.
On to the newsletter!
Markets & Business
The new episode of Talk Money Weekly is now live! In this episode, we look back a year ago when we had negative oil prices, to where we are now. Oil is on the rise again, but production remains low. I also discuss how the pandemic really pushed for more electronic vehicles. Listen now!
It is pretty hilarious that we’re all waiting for the Fed to decide what they’re going to do with interest rates. The market and everyone else just sitting on their hands. At 2pm today, the Fed announced rates remain unchanged, BUT they plan on raising rates overtime, within the next two years.
Fed is optimistic about economic recovery and projected unemployment goes down by 2%, compared to this time last year. With economic growth, rates will rise, which should impact asset prices. Hence, why the market sold off a bit on the news. They don't seem to concerned over inflation. I think we'll get a good sense of things after the summer to see how reopening goes and whether this new variant affects cities.
I’m not sure what this guy was smoking, but apparently it was a typo. No sane person would take $50 a month over $1M. I don’t want to hear anything about that passive income crap. Give me $1M taxed at 50% any day. I can pay off debts, make some investments, and buy some dumb stuff that nobody needs.
I think he meant $5,000 a month, instead of $50. In that case, I would take the $5,000 a month. I can still put to work, or save it, and then compound it over time. In about 20 years, you would be paid out $1M, at a more efficient tax structure, and hopefully it was compounding over that time, so it would be worth a lot more. So yes, in that case, $5000 a month would be a better deal.
OR, that's super boring! Give me the cash, let's invest in crypto and go to Vegas!
Bezos did it. Jobs did it. Zuck did it. It’s their way or no way. They have serious conviction in their visions. It wasn’t money that motivated them, it was the killer instinct. The need to dominate, crush their enemies and win. It takes a special (or crazy) type of person to get that done, especially when you have so many people who working against you. This is a fun read.
Whether you love him or hate him, you have to respect what he was able to build at such a young age.
We’re entering a new era in crypto. What happens to Bitcoin in the long run? What about all the other coins/projects that are being built? What do you bet on?
Typical crypto portfolios have around 60-70% Bitcoin, 15-25% Ethereum, and the rest in other projects. This will probably change over time.
This is a great read, and highly recommend you checking it out.
In a post Euro Cup press conference, Cristiano Ronaldo removed two Coke Bottles from the table and told people to drink water instead. FINALLY! This shit is so bad for you. It didn't really have much of an effect on the stock, but it makes for great clickbait.
$4B is only like 2% of Coke's market cap, which is $235B. It makes a for a better title than "Coke loses 2%." LOL
That's all the news from this past week! If I was to make this newsletter into a Youtube show, would you watch it?
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