Animal Spirits: Democracy Has Failed

On today’s show we discuss:

August employment report
These temporary layoffs are starting to look permanent (Barron’s)
Some jobs aren’t coming back (NYT)
Spending is larger than the entire economy
Could government end poverty?
GMO on bonds
Democracy has failed (if 60/40 continues to work)
In defense of endowments 
SoftBank buying a lot of options
Most people didn’t touch their retirement accounts in …

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