Patrick Boyle On Finance

The Los Angeles wildfires have destroyed more than 12,000 structures and at least 24 people have died with more unaccounted for as multiple wildfires, fueled by severe drought conditions and strong winds, continue to burn. Wells Fargo and Goldman Sachs estimate that the destruction will cost insurers as much as $30 billion dollars and after accounting for non-insured damages, the total costs will balloon to $40 billion. The ongoing fires, already appear to be the costliest wildfire event in California history. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social Business Inquiries ➡️ [email protected]

Donald Trump has promised to conduct “the largest deportation effort in American history,” no matter what it costs—but the price tag may be bigger than expected. In today's video we look at a history of US border control and the economic costs of deporting more than six percent of the US workforce while the US workforce ages. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel: Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social Business Inquiries ➡️ [email protected] Links: Chloe East - The Labor Market Effects of Immigration Enforcement: https://www.journals.uchicago.edu/doi/epdf/10.1086/721152 Chloe East - Unintended Consequences of Immigration Enforcement: https://jhr.uwpress.org/content/early/2022/05/02/jhr.0920-11197R1 Warwick McKibbin presentation: https://www.youtube.com/watch?v=QV3lxKYIDFE What Will Mass Deportations Look Like: What Will Mass Deportations Look Like? How many people did Obama, Biden and Trump actually deport? https://www.the-independent.com/news/world/americas/us-politics/trump-deportation-numbers-obama-biden-b2649257.html Sarah O’Connor Article: https://www.ft.com/content/2bb60c40-efe1-48d1-9c9e-b9ff672ce349 Who is right about ‘Maganomics? https://www.ft.com/content/76ee5977-1f16-470b-86a5-400209aad5a3 What we know about unauthorized immigrants living in the U.S: https://www.pewresearch.org/short-reads/2024/07/22/what-we-know-about-unauthorized-immigrants-living-in-the-us/

For years, the auto industry has been hyping the transition to electric vehicles with optimistic sales forecasts for electric models and huge growth projections. Investors pumped up valuations for automakers, based on their visions for an electric future. Now the hype is dwindling, and companies are again cheering consumer choice. Automakers from Ford Motor and General Motors to Mercedes-Benz, Volkswagen and Jaguar are scaling back or delaying their electric vehicle plans. Tesla’s annual vehicle deliveries declined for the first time in more than a decade during a period when overall car sales are up. Have automakers overinvested in EVs and are EVs killing the car industry? Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social Business Inquiries ➡️ [email protected] Patrick Boyle On Finance Podcast: Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313 Google Podcasts: https://tinyurl.com/62862nve Join this channel to support making this content: https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Further Reading: How Trump policies could reshape the EV industry: https://observer.com/2024/12/trump-ev-policy-tesla/ Norway EV subsidies: https://www.instituteforenergyresearch.org/renewable/the-hypocrisy-of-the-electric-vehicle-movement/ Tesla Deliveries drop: https://www.ft.com/content/f13d799c-a4dc-4619-b876-6ec68b502fec Automakers struggling: https://www.nytimes.com/2024/12/15/business/automakers-trouble.html Northvolt Bankruptcy: https://www.ft.com/content/09938004-21b9-4750-8fa2-9ed15c566d4e The Winners & Losers in Auto Sales: https://www.caranddriver.com/news/g63335108/auto-sales-q4-2024-winners-losers/ Why Norway is Having Second Thoughts about EVs: https://www.vox.com/future-perfect/23939076/norway-electric-vehicle-cars-evs-tesla-oslo

Here's a look back on some of the most impactful events in markets during 2024. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon:   / patrickboyleonfinance   Buy Me a Coffee: https://www.buymeacoffee.com/patrickb... Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.... Business Inquiries ➡️ [email protected]

There is a long history of regulation and deregulation where big scandals provide the catalyst for new rules, and then the realization that the rules are possibly excessive has caused them to be rolled back. In finance the 1933 Glass-Steagall provisions came in the wake of the 1929 Crash. The 2002 Sarbanes-Oxley Act was a reaction to the Enron and WorldCom scandals. Dodd-Frank was enacted in 2010 after the 2008 financial crisis. Good regulation can bring all sorts of benefits, but excessive regulation, does little to serve the public interest, and creates financial costs and frustration for businesses and the public. Elon Musk has vowed to dismantle thousands of federal regulations as the co-head of the Department of Government Efficiency, or DOGE, saying the nation’s financial security depends on it. Is he right, and if so, what rules need to go first? Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel: Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ [email protected] Additional Reading: https://regulatorystudies.columbian.gwu.edu/brief-history-regulation-and-deregulation An Evaluation of Consumer Protection Legislation: The 1962 Drug Amendments | Journal of Political Economy: Vol 81, No 5 https://www.cato.org/publications/policy-analysis/jones-act-burden-america-can-no-longer-bear#conclusion https://worksinprogress.co/issue/how-madrid-built-its-metro-cheaply/ Milton Friedman Video: https://www.youtube.com/watch?v=dZL25NSLhEA A history of regulation and deregulation: https://regulatorystudies.columbian.gwu.edu/brief-history-regulation-and-deregulation Weird Laws Around the World: https://www.farandwide.com/s/weird-laws-world-4961c1ede8d749bf

Javier Milei has been in office for one year having taken over an economy on the brink of collapse. Milei managed to cut the monthly inflation rate from 26 per cent before he took office to 2.7 per cent in October. The Argentine peso has strengthened significantly against the black-market dollar over the past six months and Argentina’s sovereign bond prices have roughly tripled. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ [email protected] Further Reading: FT - Has Javier Milei proved his critics wrong? https://www.ft.com/content/35b444a1-608c-48b5-a991-01f2ac3362be The Economist - The making of an economic miracle? https://www.economist.com/the-world-ahead/2024/11/20/argentina-the-making-of-an-economic-miracle Javier Milei's Argentina in 6 Charts: https://news.gallup.com/poll/654089/javier-milei-argentina-charts.aspx

In today's video we examine Donald Trump's plan to rebalance global trade using tariffs, try to understand the issues with international trade that have been pushing the United States and other countries in this protectionist direction, and if tariffs can be expected to improve the situation or make things worse. We’ll discuss whether Trump could impose his tariffs unilaterally on his first day in office and whether the mere threat of tariffs could be used to improve Americas bargaining power? Subscribe to @PBoyleInterviews here: https://youtu.be/w7sWER7LJd8 Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ [email protected]
Further Reading: Michael Pettis Trade Intervention for Freer Trade: https://carnegieendowment.org/research/2024/10/trade-intervention-for-freer-trade?lang=en CFR The Contentious U.S.-China Trade Relationship: https://www.cfr.org/backgrounder/contentious-us-china-trade-relationship

Victor Haghani started his career at Salomon Brothers and shortly after became a managing director in the bond arbitrage group run by John Meriwether. He was a founding partner of Long-Term Capital Management and established its London office. The failure of LTCM was a life-changing experience that led him to question and revise much of the way he thought about the economy, markets, and investing. His new book - The Missing Billionaires is a personal finance book that examines why there are so few "old money" billionaires on the current rich lists. The book focuses on poor risk decisions, both in investing and spending. Many of the millionaires from 125 years ago didn’t choose bad investments– they simply sized them incorrectly– and allowed their spending decisions to amplify this mistake. The Missing Billionaires book offers a framework for making important lifetime financial decisions in a systematic and rational way. In today's interview Victor discusses how much risk an investor should take to safely grow their wealth or how much of a good thing is too much? The Missing Billionaires on Amazon: https://amzn.to/3OIr6u8 Subscribe to Victor's Mailing List: https://elmwealth.com/elm-in-the-press/ Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ [email protected]

Marc Andreessen appeared on the Joe Rogan podcast this week arguing that the Consumer Financial Protection Bureau (CFPB) should be shut down as it debanks conservatives. In today's video we use the example of the finfluencer promoted fintech bank Yotta - look at its ties to another fintech - synapse to try to understand if the CFPB should be defunded or if savers need to be protected from fintech firms that are mostly unregulated. Subscribe to Patrick's interview channel here: https://www.youtube.com/@PBoyleInterviews Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ [email protected] Additional Reading: CNBC Article: https://www.cnbc.com/2024/11/22/synapse-bankruptcy-thousands-of-americans-see-their-savings-vanish.html How Safe are Online Banks & Fintechs?: https://www.bloomberg.com/news/articles/2024-10-09/how-safe-is-your-money-really-in-online-banks-and-fintechs Andreessen-Backed Fintech's Meltdown Shows Bank Middlemen Risks: https://news.bloomberglaw.com/banking-law/andreessen-backed-fintechs-meltdown-shows-bank-middlemen-risks Rob Copeland - How To Keep Your Money Safe: https://www.nytimes.com/2024/08/10/business/online-lending-banking-money-risks.html CFPB Debanking Press Release: https://www.consumerfinance.gov/about-us/newsroom/cfpb-finalizes-rule-on-federal-oversight-of-popular-digital-payment-apps-to-protect-personal-data-reduce-fraud-and-stop-illegal-debanking/ a16z Investment list: https://a16z.com/investment-list/ Joe Rogan - Marc Andreessen Interview: https://www.youtube.com/watch?v=ye8MOfxD5nU

Elon Musk and Vivek Ramaswamy are heading up Donald Trump's newly created Department of Government Efficiency which plans to take aim at wasteful government spending. On the campaign Elon Musk claimed that he could cut two trillion dollars in government spending. What would those cuts look like and how likely is Elon Musk to succeed? Does Elon Musk have too many conflicts of interest to do this job? Subscribe to Patrick's interview channel here: https://www.youtube.com/@PBoyleInterviews Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Additional Reading: Jetson Leder-Luis Website: https://sites.bu.edu/jetson/ False Claims Act Reporting: https://www.justice.gov/civil/report-fraud The Economist: https://www.economist.com/briefing/2021/11/20/governments-are-not-going-to-stop-getting-bigger Reid Hoffman in The FT: https://www.ft.com/content/a3a329ee-8c9a-4abd-add2-eb7d56f4c108 Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ [email protected]

The Great Depression was the worst and deepest peacetime economic shock in the history of the industrialized world. It brought about profound social change and was a significant factor in the drift towards the Second World War. The depth of suffering during the Depression years is hard for many of us to imagine today. More than 1 in five children in the city were suffering from malnutrition by 1932, and the Great Depression was only getting going at that point, it lasted seven more years. So, why did events on Wall Street in 1929 reverberate around the world? Why did the depression last so long, and how did America and the rest of the world eventually dig themselves out of this financial hole? Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Additional Reading: Milton Friedman on The Great Depression: https://amzn.to/4fvMYF6 The Great Depression by Robert S. McElvaine: https://amzn.to/40Szajt Essays on The Great Depression by Ben Bernanke: https://amzn.to/40Szajt Keynes letter: https://www.economicsnetwork.ac.uk/archive/keynes_persuasion/The_Economic_Consequences_of_Mr._Churchill.htm The U.S. Economy in the 1920s: https://eh.net/encyclopedia/the-u-s-economy-in-the-1920s/ Britain In The Great Depression: https://moneyweek.com/economy/uk-economy/602525/britain-didnt-have-a-roaring-20s-it-had-a-roaring-30s-heres-why Michael Pettis in The FT: https://www.ft.com/content/ec1b730b-0fbf-3a8c-896a-557c06f730cf The photographers of the Great Depression - Dorothea Lange, Walker Evans, and Arthur Rothstein Business Inquiries ➡️ [email protected]

The US Economy has been booming in recent years and most Americans are doing better than they were a year ago, unemployment is lower, wages are growing, and inflation is declining. It’s not just the one percent either, the statistics show that Americans across ages and social classes are doing really well. While people should be feeling these tangible economic improvements, surveys show that Americans are the most pessimistic they have been about the economy in thirty years. TikTokers have coined the term “the silent depression,” claiming that it’s harder to get by today than it was during the great depression. So what is the truth about the US Economy? Further Reading: It's Getting Better All The Time - Stephen Moore & Julian Simon: https://amzn.to/3CigyiK Factfulness by Hans Rosling: https://amzn.to/4fqA6QI Gilad Edelman in the Atlantic: https://www.theatlantic.com/ideas/archive/2023/12/inflation-food-prices-democrat-biden/676901/ Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel: Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ [email protected]

There has been a lot of press on how Europe is facing deindustrialization, where manufacturing employment is in terminal decline and the continent can no longer compete due to high energy prices, economic competition, and other factors. In today's video we try to work out if Europe is doomed and should pivot towards tourism - becoming the worlds museum. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC

Helpful Links:

Mario Draghi Report: https://commission.europa.eu/topics/strengthening-european-competitiveness/eu-competitiveness-looking-ahead_en

Oxford Economics: https://www.oxfordeconomics.com/resource/claims-of-deindustrialisation-in-europe-are-overblown/ Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ [email protected]

Big tech companies like Microsoft, Amazon and Google are driving the nuclear revival, as to get new power-hungry data centers built in the US and Europe, they have to solve the problem of power generation. Their net zero pledges mean that the sources of power that they have pledged to use have to be low carbon, and they have already invested heavily in wind and solar, but their data centers still need a steady base load, so for big tech, investing in nuclear energy makes a lot of sense. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ [email protected]

Since the gold rush, California has been the go-to state for start-up companies. In recent years the Golden State has been losing the competition with neighboring states. More than 500 businesses have left California since 2005. Among these businesses were Fortune 500 companies and the economic impact from these departing companies is likely to be severe. California’s tax laws and prohibitive regulations are the leading causes of the massive corporate exodus. The business-friendly conditions, opportunities to save costs, and home-ownership options for employees in other states are a few reasons companies have decided to leave California. These factors led to the first three-year decline in population in Californias history. In today's video we ask, what went wrong with California? Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ [email protected] Patrick Boyle On Finance YouTube Channel: https://www.youtube.com/@PBoyle

The FBI created their own crypto token called NexFundAI as part of an investigation into price manipulation in crypto markets. As a result of the investigation, the SEC charged three “so-called market makers” and nine individuals for allegedly engaging in schemes to boost the prices of certain crypto assets. The Department of Justice charged 18 people and entities for “widespread fraud and manipulation” in crypto markets. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Additional Links: SEC Press Release: https://www.sec.gov/newsroom/press-releases/2024-166 U.S. Attorney's Office, District of Massachusetts: https://www.justice.gov/usao-ma/pr/eighteen-individuals-and-entities-charged-international-operation-targeting-widespread Link To Report Losses: https://forms.fbi.gov/seeking-information-in-cryptocurrency-investment-fraud-investigation Business Inquiries ➡️ [email protected] Patrick Boyle On Finance Podcast: Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313 Google Podcasts: https://tinyurl.com/62862nve Join this channel to support making this content: https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join