Markets Happy Hour Podcast - Live in Dallas with Christie Townsend (aka @ROIChristie)

In today's Markets Happy Hour Podcast - the second of the week - we have a fascinating conversation with Christie Townsend, long-time institutional investor (with the X/Twitter persona @ ROI Christie) with an audience of other senior allocators in Dallas. Our conversation is wonderfully rich - starting with inflation and the divergence between Main Street and Wall Street inflation and moving to the economic vibes with a focus on Texas in particular. As a pro growth state enjoying a real estate boom, and a shift in the percentage of state revenues that come from energy, "drilling in" to the economic vibes in Texas gives an interesting insight into the US more broadly - and we speak about a two speed USA. We have a particularly vigorous debate about policy safety nets and whether there are a good or a bad thing. We reflect on the policy intervention during Covid and the price that was ultimately paid for that - the spike in inflation and the K shaped economy that resulted. We move then to equity market momentum and the impact of FOMO and the analysis of the upcoming SpaceX IPO. We end with geopolitics and the role that this is playing today.