The Sunday Drive - 01/15/2023 Edition
👋🏻 Hello friends,
Let's take it easy and enjoy our leisurely Sunday Drive around the internet.
Vibin'
This week’s Vibe of the Week is deeply personal. Not a perfect analogy, but definitely sets the right tone. Please enjoy Miranda Lambert’s The House That Built Me.
Reflections on the House That Built Us
Please forgive the appropriation of Miranda’s song title.
This week we said goodbye to our home.
27 years ago, my wife and I bought our first house. We’d scrimped, we’d saved, we’d sacrificed for years and, starting with nothing…we did it - the American Dream.
Over time, a house became a home.
A couple became a family. We welcomed two children into our home.
There was love and joy. There was challenge. There were tears, both happy and sad. There were small moments we will always remember. There were huge moments we’ll never forget.
And yet, time marches on and the page turns. Our children became adults. The nest was empty, and…
The time came to move on to our next chapter. It is a chapter to which we are very much looking forward.
So, this week we commended our home to the marketplace.
Our fondest hope is that our house will find its way into the arms of those who will raise a family as we did - with love and joy.
It’s built for that. ❤️
💡 Quote of the Week
"Home is the starting place of love, hope and dreams." - Anonymous
📈 Chart of the Week
I think it’s fair to say that cash is no longer trash. Allocate accordingly.
Interesting Drive-By's
🤔 Globalization is Dead and No One is Listening - The “tool-in” ceremony of TSMC’s new fab in Arizona drew a lot of attention last week. CEOs from Apple, Nvidia, and AMD attended and spoke. President Biden, along with a coterie of cabinet officials, congresspeople, and local Arizona politicians, came to rally, celebrate, and claim […] victory.
Amidst all the pomp and circumstance was a short, but powerful and sobering speech by Morris Chang, the now-91-years-old founder of TSMC. He shared his dream of building a fab in the US, the hard-earned lessons from TSMC’s first time building a fab in America 25 years ago, his perspective that globalization and free trade is almost dead, and why this event is just the “end of the beginning”.
💡 AI and the Long Tail - Artificial Intelligence can reduce inequality and polarization by making the internet less social.
👋🏻 Retirees Are One Reason the Fed Has Given Up on a Big Worker Rebound - A wave of baby boomers recently aged past 65 is leaving the job market and staying out. Policymakers don't expect them to ever go back.
🏠 Endowment Effect and the Housing Market - Humans are, as it turns out, not economic zombie bots who make all financial decisions based on optimization.
In Honor of Martin Luther King, Jr.
If you have any cool articles or ideas that might be interesting for future Sunday Drive-by's, please send them along or tweet 'em at me.
I hope you have a relaxing weekend and a great week ahead. See you next Sunday...
Your faithful financial provocateur,
-Mike
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