The Sunday Drive - 06/02/2024 Edition [#113]
Musings and Meanderings of a Financial Provocateur
👋🏼 Hello friends,
Greetings from Saratoga Springs, NY. Let’s enjoy a leisurely Sunday Drive around the Internet.
🎶 Vibin'
This is Belmont Stakes week in Saratoga Springs. The city is hosting the third leg of the Triple Crown for the first time next Saturday, June 8th. The race and all the preliminary races will be run at the Saratoga Race Course for the next few years while Belmont Park on Long Island is being renovated.
So it’s a crazy vibe here, with businesses bracing for what is likely to be the busiest weekend ever in what is always a busy summer season.
In keeping with the building anticipation, this week I’m vibin’ to Run Around by Blues Traveler, who will be the featured act on Wednesday, June 5th as part of the Belmont on Broadway festivities.
💭 Quote of the Week
“The income tax has made more liars out of the American people than golf has.”
– Will Rogers
Bonus Quote of the Week
”The glue is more important than the glitter. Be the glue.”
- Me (Inspired by The Dragon Slayer, who helped me understand myself)
📈 Chart of the Week
I thought this week’s Chart was pretty interesting. It helps us frame the strength of U.S. equity markets relative to the rest of the world since the Great Financial Crisis. We’ve simply grown faster than other economies, with the exception of China.
With the stagnation of the European Union and Japanese economies over the last couple of decades, China’s share of Global GDP has risen rapidly.
So too has the share of the U.S. economy. Our high levels of innovation, cultural dynamism, strong legal protections and property rights, and immigration led population growth have all been factors in our relative economic strength over the course of time.
I believe that these trends could very well continue in the coming decades given the demographic challenges facing most of the developed world, particularly in China, Japan, and the E.U.
I also believe that India is quite possibly poised to head up the S Curve of GDP share gains, just as China did over the last several decades. It’s an economy worth watching. Depending on how significant any changes in laws and property protections are in the coming years, India could present some very compelling investment opportunities.
🚙 Interesting Drive-By's
🤔 The Inflation Outlook is Getting Better, and Worse - from Matthew Klein [Link]
💡 Billionaires Investing in Longevity - from Peter Diamandis [Link]
∿∿ The Sine Waves of Creativity - from Kyle Harrison [Link]
🚀 Nvidia CEO’s Net Worth Swells by $87 Billion in Five Years - from CNBC [Link]
📉 Negativity is [Still] Making Everyone Miserable - from Matthew Yglesias [Link]
📈 Budget Share Spent on Food - from USDA [Link]
Note: A Bonus Chart of the Week.
👋🏼 Parting Thought
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 (X ‘em?) at me.
Please note that the content in The Sunday Drive is intended for informational purposes only, and is in no way intended to be financial, legal, tax, marital, or even cooking advice. Consult your own professionals as needed. The views expressed in The Sunday Drive are mine alone, and are not necessarily the views of Investment Research Partners or Cache Financials.
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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