The TikTok Showdown, UnitedHealth’s First Earnings Post-Shooting, and a Banking Boom
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Today's number 41,000. That's how many social media posts have the hashtag TikTokRefugee at the time of this recording. Ed, what is a negative thought? What? TikTok. TikTok. That's kind of an existential one. That's like that joke I heard that a Holocaust survivor ends up in heaven and he says to God, hey, I'm thinking about telling a Holocaust joke. And he's like, no, no, no Holocaust jokes. It's just not funny. And then the Holocaust survivor says, well, I guess you had to be there. It really gets you thinking.
Two bombs in a row.
Well, I wanted to go after the Catholic Church, but I was worried our interns are going to be witnesses in the lawsuit.
Yeah, you've never done that before.
My role model, Sam Harris, I'm totally backfiling right now, says if you're wealthy and you have people who love you unconditionally, you should speak your mind. I'm speaking my mind. That's very good. Have you seen what Sam Harris has been saying about Elon Musk?
Well, you tell me, what is he saying? I know it, but the viewers don't know it. Trying to remember it exactly, but he basically described how he fell out with Elon Musk. And Elon Musk made this bet with Sam Harris where he said, I will bet you a million dollars that we will not see 35,000 cases of COVID in the United States. And Sam Harris was like, well, that's kind of ridiculous because the estimates that we're going to have a million deaths, not cases, but deaths in the US. He says, why don't we make it a little fairer? How about I'll take you up on the bet, except let's make it three and a half million cases, not 35,000. And Elon said, no, no, no, no, make it 35,000 cases. So then a week later...
they find out that there have already been 100,000 deaths, plus several more cases. So Sam Harris reaches out, says, I think I've won the bet. Elon ghosts him and then starts to deride him on social media. And now Sam Harris, because he's shitposting him even more, is dealing with... strangers coming up to his house and making death threats. And it's all because Elon Musk has been shitposting him. So I just thought it was just a powerful indictment of Elon and his character. I think we all know this, but I love that it's coming from one of his former best friends.
One of those two tells the truth all the time. One of them doesn't. And, you know, you guess who is who. So when Sam says something, you can trust it's the truth or, you know, that he's a good actor. And I find it gives people the benefit of the doubt. I'm an enormous fan. And one of those individuals serves as a role model for me as a father and as an American. So, anyways, what's the difference between COVID and a priest? Just kidding. I'm not even going there. I'm not even going there. I'm not even going there.
Tell us what we're talking about today, and then I'll get into my job and read us the headlines.
Today's episode, first off, is presented by Funrise. Two words, first word, ka, and second, ching. We're whores, but we're expensive whores. Whenever the ad people call me and say, will you do this ad? I'm like, I don't know. How much are they offering? Anyways, we're going to be talking about UnitedHealth's first earnings call since the CEO shooting in a banner year for the big banks. Ed, what else is going on? What are we doing here?
Let's start with the weekly review of MarketVitals. The S&P 500 rallied, the dollar fell, Bitcoin climbed, and the yield on 10-year treasuries dropped. Shifting to the headlines. The consumer price index increased 2.9% in December from a year earlier and rose just 0.4% month over month. Core CPI also came in lower than expected, providing further evidence of easing inflation.
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