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Today’s Animal Spirits is brought to you by YCharts and Fabric:

This episode is sponsored by YCharts. Get 20% off your initial YCharts Professional subscription when you start your free trial through Animal Spirits (new customers only). Sign up at: https://go.ycharts.com/animal-spirits

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Animal Spirits:

On today’s show, we discuss:

• U.S. Stocks Are Now Pricier Than They Were in the Dot-Com Era

• Junk Bonds Are on a Tear This Summer

• There Are Now More ETFs in US Than There Are Individual Stocks

• The Middle-Class Vibe Has Shifted From Secure to Squeezed

• How–and Why–U.S. Capitalism Is Unlike Any Other

• Canaries in the Coal Mine? Six Facts about the Recent Employment Effects of Artificial Intelligence

• Jim Chanos Calls Strategy’s Premium ‘Financial Gibberish’

• Rich Bitcoiners Are Reportedly Spending BTC on Luxury Holidays: Does This Really Make Sense?

• Trump Weighs Declaring National Housing Emergency, Bessent Says

• Yale’s Trendsetting Private-Equity Strategy Is Getting Harder to Pull Off

• Cars are so expensive that buyers need seven-year loans

Charts:

Tweets:

Just remember.

No matter what happens today, 70 million working Americans will still be buying $NVDA every month, whether they realize it or not.

— Tier1 Alpha (@t1alpha)
2:28 PM • Aug 27, 2025

$40k -> $600

Unreal.

— Zoomer 🧢 (@zoomyzoomm)
11:49 AM • Aug 28, 2025

Recommendations:

• The Tycoons

• Once Upon a Time in America

• Platonic 

• Mission Impossible: Final Reckoning

• Unknown Number: The High School Catfish

Contact us at animalspirits@thecompoundnews.com with any feedback, recommendations, or questions.

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Check out our t-shirts, coffee mugs, and other swag here.

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