$525k to be Happy (EP.336)

25:05And then I was like, I don't know. Buffett is the last of his kind, I feel like. I mean, people pay to have lunch with him and stuff, but. There's got to be a better answer. I mean. I mean, maybe Bogle when he was alive, but I don't, there really isn't someone that I'd say, like, I'd bend over backwards to meet this person because they would give me so much wisdom that I'd be able to take forward. I just don't think it exists. Ramp capital? I'm kind of a never meet your heroes kind of person. Yeah, yeah, yeah. Speaking of heroes, the Barry Sanders doc? Oh, it's in my recommendation. And speaking of there will never be another?

25:39Okay, save it. I got it in my recommendations. I got a lot to say on this. Okay. All right. You saw this piece from Bloomberg going around about inflation. So Dan Greenhouse tweeted the link to this, which by the way, not to brag, I literally wrote this post a week ago, did I not? Yes. You said prices are everything. Yeah. And yeah, and you, yeah, you showed, because yeah, you showed. I showed cumulative inflation. Salad dressing. Yeah, which is, so I'm not saying they took this idea. A lot of people don't remember him, but maybe they did. Maybe they did. Anyway, so Dan Greenhouse tweeted, you simply cannot convince people that inflation is coming down when this reality exists.

26:15So my whole point on this, like people keep really getting mad at my, like someone told me they're unsubscribing last week because I said higher prices don't make me mad. And the whole thing is like, if I said higher prices made me mad, I'd be a hypocrite. That's my whole point. Like people like you and I should not be complaining about higher prices. That's all I'm saying. People in our position, we don't have the right to complain. There's other people who do. But here's my problem with this. It's denominator-bonding. So it says it now requires$119.27 to buy the same goods and services a family could afford at$100 before the pandemic.

26:45Groceries are up 25%. It has all these numbers. And then on a very little side, on the very corner of this piece, it says hourly and real. Nominal wages are up 20%, but it says real wages have hardly budged. So it shows nominal wages up 20%. So if we take that 20 % figure of wages, this is a denominator blindness thing and apply it here. You would say water and sewage up less than wages. Pets up less than wages. Major appliances up less than wages. Rent up is the same as wages. Groceries up a little more than wages. If you applied that same logic and inflation adjusted these things like you do with wages, they wouldn't look as bad.

27:24And I think that's the problem of the media that I have is they have denominator blindness. they're adjusting wages for inflation. They're not adjusting these prices in the same way. They're not putting it on the same wavelength. They're showing real wages have barely budged, but prices are up 20%. Guess what? Wages are up 20 % too. That's the problem I have is that it's a footnote to say wages are up as much as a lot of these prices. That's a great point. So you can't scream about higher prices and then also say real wages have barely budged. Because, yeah, real is net of inflation. Exactly. So again, I'm not saying higher prices are good.

28:10I would rather have lower inflation and much less volatility in the economy. But I'm just saying you can't have it both ways. Yeah. Yeah. So Nate Silver weighed in on the disconnect. And he has a great chart showing consumption versus inflation. And he used an example of DoorDash or Uber Eats and just how things just snowball and just everything. It's not just that things are more expensive, but people are also spending more. Lugnaries become necessities. He wrote, it's not just that the fixed basket of goods was getting more expensive. They're also putting more in their baskets. And I think the TSA data is a good example of this.

28:54And there's a million good examples of not just people, not just prices going up, but people just buying more shit. Black Friday is a great example of this. It wasn't just, I also think the quantity, like the number of purchases was up as well. Yes. People feel like they deserve to spend more money, but the prices, it's like, these prices, but I'm still going to buy them. I still think the weird thing to me is that the government gets so much more blamed than corporations. I'm not blaming inflation on corporations, but the fact that I put the profit margin chart in here again, the fact that they were able to raise profit margins as inflation went to 9 % is kind of ridiculous to me.

29:30And I'm surprised that no one, that there isn't just more scorn on corporations for not causing this, but taking advantage of it. So margins came down a little bit, but they're, they're going up again. Yes. I also wonder, how much would lower mortgage rates really help this? Help what? I still think the young people slash first-time homebuyer cohort is the one who has the biggest gripe against the economy. Obviously, there's interest rate-sensitive parts of the economy that are hurting as well. But I really understand young people. If you missed out on this window of 3 % mortgage rates and a 50 % climate housing prices in such a short time, how you would be really pissed off.

30:07And I think you deserve to be. If I was a politician and I'm trying to pull a lever to get sentiment better, I would say, hey, Fed, start buying mortgage bonds and get us back to 5%. I think that would help with consumer sentiment. If I'm pulling one lever. Obviously, people would rather have deflation or something, but again, that's not going to happen. Claudia Somm at Stay at Home Macro had a piece called Americans Better Off. And I think she kicked the hornet's nest again. People are mad at this. but I thought she had some really good charts in here about like what's going on. And the wages after inflation are good again, showing the bottom tier with the highest, highest.

30:46So from 2020 to 23, the bottom tier at up after inflation is up almost 5%. The top 25 % is actually down 2.4%, which is surprising. The bottom 50 % had a gain. The top 50 % actually lost money to inflation, which is surprising. But this real personal consumption expenditures, this is just goods and services. This is the chart. It's, it's slightly after inflation above trend where we were spending before. And I think this is the whole thing is just, I mean, this one, this one, Nate Silver was getting at. Yeah. People, people just aren't changing their habits or they change their habits and then they're there.

31:21They kept them. People can't take stuff away. The other one, overall debt burdens for households are currently near record low. So this is debt to income and debt to net worth. Both still remain pretty low. So I know a lot of people that want to say like, oh, of course, everyone's traveling on Thanksgiving or spending money on Black Friday because they're going into credit card debt. The data on debt doesn't quite show that yet. And I'm sure there are obviously our households who are going into more debt. Guess what? Consumer behavior will change on a dime if we get layoffs. Don't tell me people won't stop, won't keep spending.

31:54That's been my whole thing. It's going to, it's going to take a recession, I think, to change consumer habits. I don't think people are just going to, because inflation is high, I don't think people are going to say, all right, we're going to buckle down. It would have to stay high for a number of years, I think, for people to buckle down. So you definitely think the Fed is cutting in 2024. Where are you with the recession watch for 2024? Yeah, you're not. Second half story. Can I say that? I would still lean like 60, 40. No, I think there's still a possibility if the Fed steps in and cuts a little bit.

32:22And if, if again, if we get mortgage rates down and prop up housing activity to offset some stuff that's slowing from higher rates, I think that would help a lot. So are you saying that we can declare victory at higher rates? That's not going to be the thing that causes a recession? It's going to be something else? No, I think it's way too soon to say that. Yeah, I think it's too early to say that. I still think the higher rate stuff is affecting stuff on the margin, but it's going to be a bigger and bigger part of the margin as we go forward. Don't you? Because it has to slow corporate investment in everything, right?

32:56It's just a way higher hurdle rate to do stuff. And I think eventually, the longer they say hi, the worse it is. All right. So oil, Carlton, tweeted, oil is down 7.1 % this month on pace for the second straight monthly loss after losing 10.7 % in October. And Bloomberg got a piece. Oil is down. U.S. gasoline prices, excuse me, are down for 60 straight days. How come people aren't like celebrating this? We only pay attention. It's the same thing with the eggs. Remember, egg prices went skyrocketed and people were like so mad about it. Then they go back down and everyone's like, eh, whatever, eggs.

33:30I think this is just the way it works. We talked to Sal from Tucrium again. He's going to talk your book next week. And he said he thinks like$50 oil before$100 oil. How many people would have had that on their bingo cards? Zero? My question is like, is this like idiosyncratic to the oil market? I don't know anything about oil and energy and gas prices. Or is this reflective of weaker demand for energy, meaning that recession? Or is this just China? Like, what's going on here? Probably a little bit of both. That's the two sides. If you wanted to look at everything positive or negatively, you would say higher oil prices are bad because it means less money in the consumer's pocketbook.

34:12Lower oil prices are bad because that means demand is slowing and we're going to recession. That's if you wanted to look at the negative part of that. And both sound smart. Yes. All right. I also think there's something to people just being unhappy these days. So the Wall Street Journal has one. Why is everyone so unhappy at work right now? And Americans, by many measures, are unhappy at work than they have been in years. Despite wage increases, more time off, and greater control over where they work, The number of U.S. workers who say they're angry, stressed, and disengaged. There's climbing.

34:45Meanwhile, a bamboo HR analysis of data from more than 57 ,000 workers shows job satisfaction scores have fallen to their lowest point since early 2020 after a 10 % drop this year alone. This is the part that gets me. People chafe against being micromanaged back to offices, yet they also find isolating aspects of hybrid work, hybrid and remote work. This is like you're never going to be happy then. I don't like it when they make me come back to the office, but I also don't like being alone when I work at home. Guess what? Those are your options. So I think some people just like being unhappy. Well.

35:22Come on. This is a you're never going to win. No, no, no. I don't know if I buy that for this one. So as they do, they found Lindsay Leisman. And Lindsay is 38 years old. And she said that she soured on her job after having to return to the office two days a week earlier this year. Pre-pandemic, she would have been happy working three days a week at home. She says, quote, it would have been a dream come true, end quote. Still, her team's in-office requirements seemed like going backwards and made her feel like that her professionalism and work quality were in doubt. That's the going backwards part.

35:56So when Jeff Mackey said people miss the recession or people miss the pandemic, I think there's a lot of legitimacy to that. I don't think that this is an example. And I do think that people like to complain. We said this last week. I think in this example, what Lindsay just described is the idea of going backwards and knowing how good you had it. And then it's a drag. I think that's impacting people's psychology a lot. Yeah. I mean, everybody that I talk to is like, oh, I have to go back four days a week now. I don't know if I could do it. I might look for a new job. I'm surprised workers aren't revolting, though, and pushing back.

36:32Like people aren't coming together and saying, no, we're not coming back for that many days a week. So look at this chart, employee satisfaction tumbles. I really do think that a lot of this is get back to the office. It is funny that the highest level was in 2020 during the pandemic. I think Mackie might be onto something that people secretly really miss the pandemic. Everybody loved working from home. And when I say everybody, if you didn't like working from home, you don't need to email us. I'm just saying, generally speaking, people preferred working from home, despite all the challenges. This is the human nature thing.

37:07You can't compare yourself to pre-2020 you and say, I would have been thrilled with working from home two days a week pre-2020. But now that I'm working from home two days a week and I was working from home five days a week, I can't be happy. Exactly. You've tasted the nectar and it's very sweet. Here's another thing. Long distance relationships between bosses and staff might also be an issue. Nearly a third of workers at large firms don't work in the same metro areas or manager up from 23 % in February, 2020. That's wild. If you have no physical interaction with your supervisor and you're not getting that positive reinforcement.

37:43I don't know. Doesn't that sound, I can look at this the other way and say that sounds like amazing in some instances. How many people hate their bosses? This is not black or white. That's a fair point. Anyway, I think what's not in dispute is that there is life before the pandemic and there is life after the pandemic for so many charts and so many different areas of our lives. Yes, but imagine telling someone as crazy as that time was, like, you're going to miss this someday. At the time, everyone said, you're nuts, no way. Yeah, because people felt like they were being trapped. And in many cases, they were.

38:20If you were one of the people in pandemic who was stuck in a small apartment, maybe with young children, oh my God, it was probably a nightmare. Okay, I did an update on the layoffs one since we still have layoffs in the dock here. Eventually, this is going to happen. So I wish you could do cut off the pandemic stuff because you put that in the chart and just takes it. So I looked at this, the actual numbers. The current level of layoffs that we're at in 2007 to 2019, we never got lower than the current level of layoffs at any point in there. Wait, I'm sorry. Say that one more time. So from 2000, pre-pandemic, this only goes, the data goes back to 2007.

38:562007, 2019, we never got lower than the current level of layoffs. So I'm saying layoffs are still lower than they ever got pre-pandemic. In the first - Oh, interesting, got it. So layoffs are still very low. So unemployment is taking up a little bit. Well, that's my question, that's my question. People are not getting laid off, really. So what, there has to, does there have to be a catalyst? Are you saying what causes this finally? Yeah, I'm saying what's going to be the spark, Maybe there doesn't have to be a spark. Maybe the interest rates really do take two years to filter through the economy.

39:28I don't know. This is the weird part about it because usually a recession is caused from excess in the economy, and then the Fed raises to take those excesses out of it. But if you want to define excess, wasn't it in the housing market and the Fed already kind of snuffed that out? So you're right. What else is going to go totally overboard unless it is just the Fed keeping rates higher and that eventually just cycles through and it's a slow, slow death by a thousand cuts. I don't know. All right, so we have no new highs in the stock market yet. We're close. We're within like spitting distance for the NASDAQ 100 and the S &P 500.

40:01But we do have new highs again as of this morning. Case Schiller National Home Price Index is up again. New highs in the housing market. Annie Lowry at the Atlantic had a piece and the headline I thought was a good one, it will never be a good time to buy a house. And she's talking from personal experience. She said she moved to Brooklyn. I can't even imagine how expensive it would be. She moved to Brooklyn or from Brooklyn? I think she moved to Brooklyn and tried to find a house and said it was just laughable. It was never going to happen. What do you think the feeling would be if we picked up all 7 million people in New York and moved them to Pennsylvania or Ohio or Michigan or Indiana?

40:41How different would they think about prices and inflation? Because, I mean, New York was already dealing with, Everyone complains about high prices now. If you're a New Yorker, you've already been living with high prices for your whole life if you lived there. New York has already been a step above everything for prices. So I'm saying how many people eventually go like, all right, I'm out of here. And that's been happening a little bit. But that migration, you would think, with unaffordability has to be skyrocketing. So interesting stat from this one. At this time 15 years ago, real estate agents had 2.2 million vacant housing units available to show prospects.

41:16that number has dwindled and dwindled and now sits at 732 ,000, despite the country having added 30 million people to its population in that time, which is kind of crazy to think about. 30 million more people in 15 years. I do agree. I think that if rates come down, I don't know that home prices are going to skyrocket. I think that might have been a bit much when I said that a couple of weeks ago. I think we just need more activity. That's my point. But the prices have been reset. Home prices are not going to come back down to what they were. No, you're not getting pre-pandemic home prices again.

41:46She says it's not going to be a good time to buy a house for a long time. How long? I put that question to a few housing economists and real estate experts. Their response, who knows? A decade? Maybe in 2030 we could start to see some relief, Darrell Fairweather, the chief economist at Redfin, told me. Relief? What do they mean by relief? I think it means like… In terms of rates or prices? I think it just… Yeah, like prices a little bit. And that's the thing. It does seem like now… This is something that we all have where we think the current situation is going to last forever. and it never does.

42:16Like people in 2010 - Wait, wait, wait. I might take the other side of that. For the current, for the housing situation that exists today, where when, what year was it? Where, I think it was 21, when the economy reopened and people started putting their houses on the market, that there was like 20 buyers for every listing. Right. I think that trend will stay in place for at least a few years because of the 75 million millennials. Yes. And so here's my take on this. I think demographics are destiny in the housing market. And I said this like six years ago. Millennials in the 2020s are going to be buying houses.

42:53There's going to be a shortage because of the – it wasn't like – that wasn't like some great call by me. That was just like math. And in the 2030s, we're probably going to see more supply than demand because most of the millennials will have bought a house that are going to buy a house. And some of the boomers on the margin are going to be selling more. And so I think in the 2030s, it seems like a long time to wait, but I think that's when it's going to have to happen for it to like really shift where supply is going to like seriously outstrip demand for a meaningful period of time. So the stress, the stress in buying a home in terms of competing with a lot of other buyers, I feel like that's, that's structural for at least a few more years, maybe through the end of the decade.

43:32But I just think lower rates would help in terms of just getting more activity and having more options to buy, right? And resetting those monthly payments a little lower, even if prices rise a little bit. All right, let's talk about a dumb survey that went viral over the weekend. More and more. What's that? There's more and more of these. Empower survey 2000. Before you get into this, someone tweeted me or emailed us and said, like, don't you guys understand how, like, surveys and sampling works? This is how it works. Like, we understand sampling. Our point is that, like, the way that you ask a question, like, sampling makes sense.

44:13You can't ask literally everyone in the country to come up with. But the way that they ask questions and the way that people, the sentiment acts, like, those kind of surveys can be messed up. And they're not reflective of reality, even if the sampling thing works. We're not saying statistics doesn't work. We're saying sometimes the way that these surveys are conducted are not accurate. So here is a great example of why surveys are bullshit. 59 % of Americans believe money can buy happiness. Bullshit. If you were asking people honestly, I'm going to say that number is like 98%. Yeah, that's true.

44:52And the actual number of people it can buy happiness for? Are you kidding me? 59%. So people answer how they think they're supposed to answer in many cases. No, of course money doesn't buy happiness. Give me a break. Because people always say money doesn't buy happiness. Right. Exactly. Exactly. OK. So they asked the price of happiness for your desired net worth. And millennials are so far beyond everything else when you compare people's answers versus their actual net worth. So the gap is sort of hilarious. But the thing that really made people go nuts was the annual salary by generation to feel happy.

45:31And so for all people, it was$284 ,000. I don't know what the median salary is in the United States. Ben, do you know that number offhand? I don't want to give a number and embarrass myself. It depends. Household is like 70 or something. Individual, it's like 50s-ish, 60s, something like that. But yeah, it's obviously that the number is ridiculous. So anyway, Boomer said$124 ,000. Gen X said$130 ,000. Gen Z said$128 ,000. And inexplicably, Millennials said$525 ,000. This chart looks like a giant middle finger. So I don't know exactly how to explain this. Which would put you in like the top 2 % of all incomes.

46:13Probably top 1%. Maybe even more. I don't know how to explain this. Do you have any thoughts on? No, I can't. there's no way that millennials really feel this way. I have no explanation for it. All right, here's another reason number four million why surveys are bullshit. How much time have we spent over the last couple of months? And I think we've reached peak animal spirits talking about the disconnect between the economy and people's feelings. Can we say that we're going to pare back on that? Yeah, there's nothing else to, at this point, it is what it is. Yeah, we're not going to retire this thing.

46:53There's a million different variables and yeah. I promise this will be more or less the end of it from us. But they asked a question, the state of American happiness today. So, okay, we spent the last couple of months talking about how miserable people are. And yet they ask, at home, people say 80 % overall happiness. People say 80 % happiness at home. Overall happiness, 75%. So, okay. So this survey is a 75 % overall happiness. And in other surveys, it's like 14 % of Americans think that their personal financial situation has gotten better since Joe Biden took office. How do you explain the gigantic gaps in how people feel based on various surveys?

47:36What if they asked the state of happiness on Twitter? It would be like 3%. Social media, 5 % happiness. 75 % overall happiness. Oh, cool. So I guess people are happy. Is that what we're trying to say here? Or maybe service are kind of bullshit. Yes. Or just broken. All right. The Wall Street Journal had a piece about fighting with money that a researcher did. Research found when partners disagree about mundane expenses such as grocery bills and shopping receipts, they tend to have better relationships. But if you fight about like bigger things like contribution of household finances and that or perceived irresponsibility in spending, that's particularly detrimental.

48:16So fighting about the little stuff is actually a good thing because it means that you don't have the big stuff. If you're really fighting about the big stuff, that means there's probably something else simmering under the surface that you want to get out. True. If you really have money issues, you're probably not bickering about the small stuff. But if you bicker about the small stuff, it's actually like a luxury, right? Because you don't really have anything to complain about. Do you and Rob never fight about money? No. Not really? No, Robin is pretty far removed from our financial situation.

48:47Not because I don't try and bring her in. She just, she doesn't, she doesn't really care. And I'm pretty sure she has no idea how much money we make. My voice part in the same boat. I got a question for you personal finance wise. Okay. Why do we still have ATM fees? If you go to an ATM that is not yours, you pay like a$2.50 fee. And then your bank charges you like$2.50. I know some of them, why does that still exist? That seems, that's ridiculous to me. They have to pay like$5 to take out$20. That's great. Is that just, we just do it because they can? How much money do you think they squeeze out of the consumer's pocket a year?

49:24It's got to be billions. It's got to be billions. It's ridiculous. I did that this weekend. I'm like, they just charged me$5 for 20. I, for the most part, never pay ATM fees. I always go to a chase unless I'm in like a casino. That's what I usually try to do as well, which you can actually usually find one of those. But what's this Bill Gates thing? You know who doesn't have personal finance problems or money problems? Walter Bloomberg tweeted, Bill Gates earns nearly$500 million in annual dividend income. Well, that's because he had something else simmering under the surface because he got a divorce recently.

49:59So him and his wife must have been fighting about the big stuff, not the little stuff. He received$464 million in U.S. dividend income from his investment portfolio so far this year. Yeah, but just after inflation, then, was it really? Yeah, yeah. Okay, Dave wrote this about our deep impact thought last week. Ben, in the deep impact scenario, there's a 90 % chance of a meteor hitting the earth. I would take every penny I could possibly get my hands on and leverage long with reckless abandon. If I'm right, I'm rich. If I'm wrong, it doesn't matter. Pascal's wager. Yeah. That's pretty good. That's a good point.

50:31That's like the Art Cashin thing, like if there's a Cuban Missile Crisis, right? Yeah. All right. Tell that story real quick. So wasn't it the Cuban Missile Crisis and someone said, sell all your stocks. What happens if there's a nuclear war? And Art Cashin said, no, no, no, no, no. You go buy hand over fist. If there's a nuclear war, who cares what your stocks do? If there's not a war, you're going to be rich because the stock markets are going to come back. Right. Which is pretty good. All right. I saw an old truck with some rust the other day. think about it you never back in like the 80s and 90s when you were growing up you would see cars with rust on the road all the time like super rusted out you never see cars with rust anywhere i saw it and it was surprising to see actual rust like i feel like we've done away with rust on our cars somehow through the power of technology cars don't rust anymore or people just don't hold them long enough that's a great point no i think paint has paint has improved i think we've spoken about this in the past.

51:25My mom back in the day drove a Volvo with like the back seat where your like knees were like pressed up against the glass basically. And you're like driving backwards. The station wagon, the station wagon, station wagon was the SUV of the 1980s and nineties. How dangerous was the minivan came along? Yeah. Probably couldn't have been great. We used to have drive. My parents used to drive a conversion van and the bench is like a big van. Like, you know, you'd assume a person is trying to get little kids into it with his candy kind of guy. Why did they drive that? Was it for work? I have no—for kids.

51:58And the benches had no seatbelts. We had no seatbelts in the back. We just, like, were flying around when I was little in the 80s. What, did you have eight siblings? I don't understand why they drove that car. I have a good question. I have no idea. This is, like, before minivans were around. The minivan came around in, like, the 90s, and that changed everything. Late 80s, early 90s, probably. All right, recommendations. You mentioned Bye Bye Barry on Amazon. I watched it. He was my hero growing up. I loved this. And the funny thing is, is I remember when he retired early and walked away and I wasn't mad at all.

52:31I totally, it was like, I totally understood it. That's incredible. I got, I like - You weren't mad? You're not mad about inflation. You're not mad about Barry Sanders. You're just, you're an even killed sort of guy. How are you not mad? Because the Lions were so inept at running that franchise that I totally understood it. I was like a, I don't know. sophomore high school okay you're very mature high school probably and i he was my hero i i obviously i was not compare myself to him but like i tried to be very i practiced spin moves i will say you and you played you you ran in the silver dome i did run in the silver dome he was my hero and he has the greatest highlight reel of any football player in history and i don't think it's a close second not even close there's never been anyone like him before or and there never will be like the moves he made were there's never been anything like him you know why i just i felt bad for him from being on the Lions.

53:19I really did. His body was like a sports car. It was so low to the ground and his thighs were enormous and his balance was insane. And he bounced off tacklers and he had breakaway speed. Like you're right. There was never, there's never been a football player like him. Yeah. So I thought it was really well done. I thought it was really funny because he was probably the most humble superstar. Not probably. Yeah. The most humble superstar of all time. A person like that couldn't exist today. No. And his dad wanted all of the limelight. Yes. It's a good story. He's definitely a unique guy. But there was, I remember like, I remember when he retired and there was like, why did he do?

53:58I mean, it's not a great mystery. Like he was just done. Yeah. Oh, I took a picture of this.

54:06Because the season in 1998 where he ran for 2000 yards. Oh, wait, I thought I took a picture of this. Hold on. Let me just Google this. so Barry Sanders 1998 game log so in 1998 when he had 2 ,000 yards rushing which had only been done at that point I think Walter Payton at the time and OJ maybe only OJ I can't remember it was just OJ yeah okay but anyway so in the first two games of 1997-1998 he rushed for 33 yards in the first game and 20 yards in the second game That's right. 53 yards in the first two games. So 53 yards in the first two games. And then these are the... So 2 ,000 for the next 14.

54:52So listen to the rushing yards for the next 14 games. 161, 113, 139, 107, 215, 105, 105, 105, 108, 216, 167, 137, 138, 184. Yeah, one of a kind. Unbelievable. The doc was so good. It was really good. I was looking to watch a Thanksgiving movie besides Planes, Trains, and Automobiles because of course I watched that. And I found a suggestion was funny people, which I don't know if I consider it. They have a Friendsgiving in the movie. It's a long movie, so it's not really a Thanksgiving movie, but it got me thinking, that was like the end of the Judd Apatow line. You know, it was Sandler and Rogan and Jonah Hill and Aubrey Plaza.

55:30Yeah, what year was that? 11? Leslie Mann and Jason Schwartzman and Aziz. We don't have those ensembles of comedies anymore. Maybe it'll come back someday, but I feel like my whole life we've had ensemble comedies where young people are coming up. You know, in the 90s, it was Sandler and Farley and Chris Rock and all these people and Spade. We just don't have that anymore. Shit, that movie's like 15 years old. Came out in 2009. Oh my God, we're old. Well, you know why? Actually, this is not the reason why. Well, they don't make comedies, number one. Right. But they can never pay a cast like this.

56:06Right. That's what I'm saying. You have to find them young. Maybe the young people now are just going to TikTok or YouTube or something and not being actors. I don't know. I feel like the first half is a lot better than the second half. Yes, the movie trails off. You can watch the first two-thirds and you're good. Okay. So they're movies that you've seen a million times. Forrest Gump, Shawshank, all the Rockies. And I think the reason why, at least for me, is because they were on TNT and USA. All the time. All the time. Before streaming existed. Yeah. And I guess now it's like HBO is like Casino is always on.

56:41I've seen that a billion times. but I very rarely will stream a movie to rewatch. I'd say 97 % of the movies that I watch are new to me. Okay. I rewatch movies all the time still. Okay. So I decided to rewatch Prometheus and Alien Covenant, I guess because we were talking about Ridley Scott last week. F***ing awesome. I know I love those movies. Prometheus is great. Because I've seen Prometheus a million times. Alien Covenant was way better than I remember. That was pretty decent. Yeah, because it was a lot of the same characters too, right? I mean, Fastbender was in it. Way better than I remember.

57:23All right, somebody emailed us. Gentlemen, I've never emailed into anything in my life, but I watched When Evil Lurks last night, and I had to make this my first. I loved it. However, there were five scenes that will haunt me for the rest of my life. My wife thinks, my wife, who thinks I am insane for watching this stuff, constantly asked me, how do people come up with this? Doesn't that disturb you? What is your response to that? I had a similar experience with my wife when I was watching Speak No Evil, which like really and truly hurt to watch. How many different horror movies you watch with the word evil in the name?

58:02A lot. Speak No Evil, there should be a warning. Like this will upset you. It was like that upsetting. And my wife had a similar reaction. And I don't, it's a really, it's a really interesting question. Like why do people, myself included, enjoy watching things that are like seriously disturbing? I think because everyone has like 5 % of them that is a little disturbing and just wants to let that freak flag fly. Yeah. I don't know what the answer is because I can't, I hate, I hate to say that I get pleasure from watching it because it's so, some of this stuff is so demented. Like there was a scene, I might've said this, there was a scene in When Evil Erks where Like I literally had the reaction to like close my laptop, like chuck it.

58:41He's like, I don't know. Can't explain it. I can't either. Cause I don't, I don't, I don't, I'm not a big fan of that feeling. Oh, one more thing. Speaking of the Barry Sanders thing. So you, you, you tweeted over the weekend that there's nothing like college football and I'm not here to shit on college football because growing up in the Northeast, it's just not something that we do. Like there's not. Right. I understand. New York doesn't have as much of a college. New York is a pro sports. Well, there's no colleges here. I mean, there's like Rutgers and St. John's, I guess. I get it. So my question, and I know people are super, super passionate about college football.

59:15My question to you would be, isn't it difficult or confusing to follow in the sense that isn't there so much turnover because players just don't stick around that long? Or is that? No, that's a fun. Yeah. Jerry Seinfeld said you're cheering for laundry. Okay. Is that like the fun part of it? Like rooting for like the new freshmen? Yeah. it changes and it's just the the pageantry and the emotion and the the amount of people that like get into it and it's like every week means like everything because if you lose one game you're kind of out of the playoff picture or whatever do you know do you do you know the players on the field or do you mostly root for the team no i know the players too but it's it's both but i i just i grew up with college football was the biggest thing to me i think that's that's part plus i rooted for the lions so it was not like they they were always so terrible that it you know, they came second for sure.

1:00:07How, how, let me play this. So on Thanksgiving, I bet on the Lions and they didn't win. So did I, never bet against your team because you lose twice. You bet on the Lions? Yes, bad idea. So Logan was in the playroom and he was, uh, he was crying and I didn't know why. So I walked in. So I watched like myself, I watched the ring to see what he was crying about. I think he got stuck in the little room, but listen to this.

1:00:56You hear that? That's pretty good Holding So Logan is in a little crying And I'm screaming at number 75 Of the Packers Was clearly holding And the refs missed it Clearly Alright Time to give up from gambling Alright One more thing Alright I'm going to say it. Where do people eat a mouse? Animal Spirits at the compoundnews.com.