Jeff Weniger (@JeffWeniger) on X (original) (raw)

Jeff Weniger

WisdomTree Head of Equities / Markets / Stocks. Regular contributor on financial media. Macro ninja. wisdomtree.com/social-media/

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Here is a very normal chart that we shouldn't debate or scrutinize in any way.
This is an absolutely major theme in the coming years. A massive wage arbitrage has opened between the US and its competitors. The overwhelming majority of people in the US have no idea just how much more money they make than the Japanese, French, British, etc.
Housing is in trouble. 1/10
Housing is in trouble. 1/8
In my opinion, this is an absolutely major theme in the coming years. A massive wage arbitrage has opened between the US and its competitors. The overwhelming majority of people in the US have no idea just how much more money they make than the Japanese, French, British, etc.
Here is a wild chart. The total return on Chinese stocks since 1993 is negative. In contrast, India is a 13-bagger.
If markets are efficient, why are people still holding huge sums in bank accounts that yield 0.63% when money market funds pay 5.08%?
Maybe tread carefully with the NASDAQ.
The biggest headline today is not the Fed. Nope, it's this 90% decline bombshell from Wells. Total housing freeze-up. Keep your focus. Housing is the number one macro driver now and for all of 2023.
These housing charts are unsettling. 1/9
The jobs market will weaken from here. 1/9
That is a 14.5% drop in private equity stocks (Blackstone, KKR, Apollo, Carlyle) in just 3 weeks, while at the same time the S&P 500 just hit another high. I don't know if this means something ominous. I just don't know. All I can give you is this: "Jeff says this is weird."
1/8 The average price of houses sold in the United States is 26 times the price in 1963. Keep that number in your head -- 26 times the price. THREAD.
If the Fed cuts rates next year, is that a good thing?

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