The Weekly Money Clip: March 11th Edition - February Jobs Report, Real Estate Trends, Analog Computing Resurgence, and Airline Mergers

[00:00:00] Good jobs numbers are great for all of America.

[00:00:15] Could tiny homes be a solution to economic woes?

[00:00:18] A bailout that was done well.

[00:00:20] And what happened to the JetBlue Spirit merger?

[00:00:23] Welcome back to the Weekly Money Clip.

[00:00:25] In a market with millions of podcasts,

[00:00:27] it is tough to stay on top of the essential business

[00:00:30] and tech stories beyond headlines.

[00:00:32] This week, we will be counting down five key moments

[00:00:35] from last week to give you context for the week ahead.

[00:00:38] As always, clips are under five minutes

[00:00:40] from voices you trust, adding context to headlines

[00:00:44] from the week behind

[00:00:45] to prepare you for the week ahead.

[00:00:48] Before we jump in, let's review the week's top headlines.

[00:00:51] In this week's business scene, the Federal Reserve held the spotlight, casting a shadow

[00:00:56] of anticipation across financial markets.

[00:00:58] A recent report underlines a robust job market in February, hinting at an economy vibrant

[00:01:04] with employment,

[00:01:05] yet a potential cooling phase.

[00:01:07] This delicate balance between growth and moderation

[00:01:10] might just be the catalyst the Fed needs

[00:01:12] to steer its inflation battle

[00:01:14] without hastening to slash interest rates.

[00:01:17] Meanwhile, in the realm of technology,

[00:01:19] several stories led headlines.

[00:01:21] Microsoft raised alarms over renewed breaches

[00:01:24] by Russian state-sponsored

[00:01:25] hackers, a digital skirmish that underscores the ongoing cyber-cold war.

[00:01:30] Nvidia, on the other hand, is inching closer to dethroning Apple as the second most valuable

[00:01:35] company, a testament to the burgeoning influence and financial might of AI and chip makers.

[00:01:42] The currency of the digital age, Bitcoin, briefly soared to a record high,

[00:01:46] breaching the $70,000 mark.

[00:01:49] This surge reflects a growing confidence

[00:01:51] or perhaps speculative fervor in the cryptocurrency market,

[00:01:55] a realm where digital gold promises riches

[00:01:57] to those who dare to dream.

[00:01:59] From the depths of the South China Sea,

[00:02:02] China made waves with the discovery

[00:02:03] of a 100 million ton oil field,

[00:02:05] a significant boost to the nation's energy reserves.

[00:02:09] And not far behind, Gulf oil titans Saudi Aramco and Adnoch have set their sights on

[00:02:13] lithium, signalling a strategic pivot towards the critical component of the Green Energy

[00:02:18] Revolution.

[00:02:20] Those were the key headlines.

[00:02:21] Now let's dive into the stories behind the headlines.

[00:02:25] This week, we welcome Scott Stantis,

[00:02:27] Jennifer Horn, Simpson Garfinkel,

[00:02:29] and Jake Novak to the money clip.

[00:02:31] Let's join them now.

[00:02:32] At number five in our countdown,

[00:02:34] we begin with Scott Stantis,

[00:02:36] reviewing a Strong Jobs Numbers Report and the fallout.

[00:02:40] Scott is an internationally syndicated editorial cartoonist,

[00:02:43] senior fellow at the Alabama Policy

[00:02:45] Institute and co-host of DMZ America podcast. The latest employment figures showed job creation

[00:02:51] at over 220,000 in February, but revisions may be on the horizon. According to Scott Stantis at

[00:02:58] CenterClip, recent adjustments by the government have lowered initial estimates for job growth

[00:03:04] in December and January.

[00:03:06] Economists warn that the job market may not be as strong as perceived despite ongoing

[00:03:11] job growth and consumer confidence.

[00:03:14] Stantis suggests that slight interest rate increases by the Federal Reserve may stimulate

[00:03:19] further job creation, benefiting American workers.

[00:03:22] He also says the present economic climate is favorable for job seekers and employees

[00:03:27] looking to secure higher salaries.

[00:03:30] Here is the entire analysis from Scott.

[00:03:33] So the new employment numbers are out and they're very, very good.

[00:03:36] Will they stay that way?

[00:03:39] That remains to be seen.

[00:03:40] I'm editorial cartoonist Scott Stantes coming to you from the right for center clip.

[00:03:44] Well the new numbers came out for February and there was over 220,000 new jobs created.

[00:03:49] Why am I suspicious or why am I saying let's wait and see if those are the actual numbers?

[00:03:53] Well for the two previous months to that, and I'm going to be quoting MarketWatch right

[00:03:58] now, a story by Jeffrey Bartash, he states that the government lowered its estimated new jobs created in January to 229,000

[00:04:06] from the initial 353,000. The previous 333,000 increase in jobs in December was also chopped down

[00:04:14] to 290,000. Altogether, some 167,000 fewer new jobs were created in January and December

[00:04:21] than previously reported. Now, we could go into a long detail of why this

[00:04:26] happened, but it pretty much has something to do with getting estimates and then reaffirming or

[00:04:30] confirming those numbers. This doesn't unusual, but it's unusual for it to happen so often.

[00:04:36] Many economists look at this and say, well, that means the job market is a lot softer than we

[00:04:41] initially thought. Well, that's partially true. My spin, you're still

[00:04:48] looking at a quarter of a million jobs created per month, and that's pretty substantial.

[00:04:53] We're looking at coming very close to full employment as we define it here in the United

[00:04:58] States, and that's a good thing. The economy continues to grow, consumer confidence continues

[00:05:03] to be strong. People are buying things, and they have jobs in which to buy them. Now, what we would like to see

[00:05:10] from my perspective is the Federal Reserve finally looking at high employment as a good thing,

[00:05:16] not a bad thing, lowering even nominally the interest rates to ignite even more heat in the

[00:05:23] economy, create more jobs. And what would that

[00:05:25] do? Why is this a good thing? Because then it creates competition for jobs and competition is

[00:05:30] what raises prices and will also raise income, will raise salaries. This is obviously a very,

[00:05:38] very good thing for the American worker. And it's going to be very interesting to watch how the Federal Reserve responds

[00:05:45] to this, how the markets respond to it, how inflation pressures respond to it. My guess

[00:05:51] is the inflation is not going to be significantly impacted by it. So way to go, America, way

[00:05:57] to go jobs. If you aren't employed, go out and get yourself a job. If you're already

[00:06:01] employed, go ask for more money. For Center Clip, I'm Scott Stannis.

[00:06:06] We now continue the countdown with number four.

[00:06:13] We join Jennifer Horn.

[00:06:14] Jennifer is the host of Is It Just Me or Have We All Lost Our Minds?

[00:06:18] She can be seen on CNN, MSNBC, Fox, CNN Max, slash Scripps News Nation, USA Today, and

[00:06:23] others.

[00:06:24] In this segment, Jennifer Horne delves

[00:06:26] into the fascinating world of tiny homes.

[00:06:28] With a surge in popularity, these dwellings

[00:06:31] under 600 square feet are capturing the interest

[00:06:34] of a diverse range of individuals.

[00:06:37] Despite being perceived as a real estate fad,

[00:06:39] recent research points towards a 5% growth prospect

[00:06:42] in the market by 2027.

[00:06:45] Interestingly, 40% of tiny homeowners are over 50 years old,

[00:06:50] seeking to downsize and reduce expenses as they approach retirement.

[00:06:54] Surprisingly, these homeowners tend to have more savings than the average American,

[00:06:59] with 68% owning their tiny homes mortgage-free.

[00:07:03] Embodying adaptability and resourcefulness,

[00:07:05] the rise of tiny homes reflects a growing trend

[00:07:08] towards simplicity and sustainability in today's society.

[00:07:12] What is the full outlook?

[00:07:14] Here's the segment from Jennifer.

[00:07:16] Hi, this is Jennifer Horne, host of Is It Just Me?

[00:07:19] Where have we all lost our minds?

[00:07:21] Coming to you today on CenterClip,

[00:07:23] and I just wanna talk about something that's,

[00:07:25] you know, not necessarily the top news item of the day or anything, but then I'm just fascinated

[00:07:31] by lately. And that's all these tiny homes. You know, I watched some of the HGTV shows on it.

[00:07:38] I read about them. I look at pictures of them. And I'm fascinated by them. I find it, the coziness, the adorableness of them

[00:07:46] to be very appealing.

[00:07:48] And the idea of the kind of escaping

[00:07:50] to my own small space, the privacy.

[00:07:53] And I imagine that that's probably in part

[00:07:56] because I am one of 10 children.

[00:07:58] I grew up in a crowded house.

[00:07:59] I have five children. I have six grandchildren.

[00:08:01] I guess I'm always feeling like I'm a little bit crowded.

[00:08:04] But there's just something really appealing about them. And it makes me wonder about the market

[00:08:10] for them. Who are these people? Who's living in these tiny houses full time? And so I did some

[00:08:16] research and I just felt like sharing it with you tonight because I think it's really interesting.

[00:08:20] A tiny home is defined as any single family dwelling of 600 square feet or less.

[00:08:26] Downsized.com is this website that says that there are about 10,000 tiny homes in the United

[00:08:32] States, and on average, there are about 225 square feet.

[00:08:36] Not only is that 10 times smaller than the average house, that's smaller than a lot of

[00:08:41] hotel rooms.

[00:08:42] So I read this article just today that got me going on this topic again,

[00:08:47] and it was suggesting that these tiny homes are a fad,

[00:08:50] a real estate fad, but I don't think so.

[00:08:53] I honestly, I think the articles miss the mark

[00:08:56] because of the growing popularity of tiny homes.

[00:08:59] And what I've learned in my research

[00:09:01] is that the tiny home market is actually growing,

[00:09:04] and it's poised for almost 5% growth between now and 2027.

[00:09:09] In real estate market terms, that's significant.

[00:09:12] They only cost an average, of course, there's always a spectrum, about $67,000, which if

[00:09:18] you've bought a house lately, is much less expensive.

[00:09:22] On average, that's about 86% less than the

[00:09:26] average home price. And they're environmentally friendly. And this is something I'm really

[00:09:31] kind of drawn to. They consume fewer resources to produce them, to maintain them. You know,

[00:09:36] for example, they only produce 2000 pounds of CO2 emissions annually. And that's compared

[00:09:43] to about 28,000 pounds of an average size

[00:09:46] home. They only use about 7% of the energy of an average house in the United States of

[00:09:51] America. But when I'm trying to kind of analyze whether or not they are a fad or a trend,

[00:09:58] you know, the durability of the home market, these are the numbers that really impressed

[00:10:02] me. 40% of tiny homes are owned by people over the age of 50

[00:10:07] who are looking to downsize space and expenses

[00:10:11] and trying to live a simpler life

[00:10:13] as they approach retirement.

[00:10:15] And that's me.

[00:10:16] So maybe that's why I'm drawn to it.

[00:10:18] But the lifestyle actually kind of has shown

[00:10:21] cross-generational appeal.

[00:10:23] 40% of the people who own these houses

[00:10:25] are between the ages of 30 and 50,

[00:10:28] and then the other 20% are under the age of 30.

[00:10:31] That's fascinating to me.

[00:10:33] I can't imagine living in such a small space,

[00:10:36] and yet at the same time, across generations,

[00:10:39] people are being drawn to this.

[00:10:41] So, tiny homes are...

[00:10:44] People who own tiny homes are,

[00:10:45] people who own tiny homes have more money

[00:10:47] in their savings account than most Americans.

[00:10:50] 68% of tiny homeowners have no mortgage.

[00:10:54] These homes are more environmentally friendly.

[00:10:56] They have cross-generation appeal.

[00:10:59] From my perspective, it's just really cool

[00:11:02] and fascinating to watch how effectively and creatively people come

[00:11:08] up with solutions to the challenges that they face and answers to some of the challenges

[00:11:13] that we face societally.

[00:11:15] So I just love what they represent.

[00:11:18] You know, that kind of that can-do human spirit, making good and making comfort and peace in your life, whatever your

[00:11:28] life is, finding an answer to some of those problems and living peacefully within your

[00:11:33] own space.

[00:11:34] So I think they're cool.

[00:11:36] And I just wanted to share some of that information with you.

[00:11:40] So thanks for listening.

[00:11:50] Welcome back to number three in our weekly countdown, again with Scott Stantis presenting an analysis on the New York Community Bank Corp bailout. The U.S. banking system saw a positive

[00:11:55] turn with New York Community Bank Corp aided by Liberty Strategic Capital, Hudson Bay Capital,

[00:12:01] and Reverence Capital Partners injecting $1 billion in cash to prevent collapse.

[00:12:07] Led by former Treasury Secretary Mnuchin, Liberty Strategic Capital's bailout offers

[00:12:12] a lifeline to NYCB, avoiding government intervention. This move follows a similar fate of Silicon Bank,

[00:12:19] highlighting NYCB's overinvestment vulnerability. NYCB now boasts new management and investor board members, promising a more resilient

[00:12:27] future.

[00:12:28] Stantis applaud the market-driven rescue, opposing government bailouts, and promoting

[00:12:33] creative destruction to uphold a competitive marketplace.

[00:12:37] This whirlwind saga concludes with NYCB's survival, steering towards more secure waters

[00:12:42] with investor guidance.

[00:12:44] Let's join Scott

[00:12:45] now for his full op-ed.

[00:12:47] The US banking system was met with some very good news right on the heels of some very

[00:12:51] bad news. I'm editorial cartoonist Scott Stannis from Money Clip. Well, NYCB, that's the New

[00:12:57] York Community Band Corp, was really struggling. It was on the precipice of catastrophe. Its stocks had plummeted down to junk bond levels.

[00:13:07] Happily for them, Liberty Strategic Capital, Hudson Bay Capital, and Reverence Capital

[00:13:12] Partners all stepped forward in infusing it with $1 billion in cash.

[00:13:17] If you recognize Liberty Strategic, that's run by Nuchen, who is a former Treasury Secretary.

[00:13:23] This is great news.

[00:13:25] No one likes to see banks fail.

[00:13:28] This particular failure reminds me very much of Silicon Bank as well.

[00:13:32] So what happened?

[00:13:33] Well, it looks like NYCB really had an exposed position, particularly when it came to business

[00:13:39] real estate and office real estate.

[00:13:41] It over-invested.

[00:13:42] And frankly, there are a lot of us who said that's nuts

[00:13:45] and could have told them that if they'd bothered to ask us. Well, now there's new management

[00:13:49] at NYCB. There's a new CEO and the four investors are going to be sitting on the board. So there's

[00:13:56] going to be sobriety and common sense. It looks like NYCB is going to make it. But again,

[00:14:03] no government money was needed. I don't care

[00:14:07] for government bailouts. And I'll tell you why, because businesses have a right to succeed

[00:14:13] at crazy levels, but they also have a right to fail. Destructive, creative destruction

[00:14:19] is how markets work. So in this instance, as I'm reading the analysis, these people who went

[00:14:25] in and gave them this large cash infusion, it's probably a pretty good investment and

[00:14:31] they will be able to write the ship moving forward. But in businesses that had terrible

[00:14:36] business plans, that just didn't offer a product that consumers wanted to consume, all of that

[00:14:43] leads me to believe the marketplace is ugly

[00:14:46] and brutal as it can be, should be left to its own devices.

[00:14:50] And that is exactly what happened here.

[00:14:53] NYCB lives to fight another day,

[00:14:56] and the government kept the hell out of it.

[00:14:59] For Money Clip, I'm Scott Stannis.

[00:15:09] At number two this week, we address the comeback of analog computing. Simpson Garfinkel is a science journalist who has published hundreds of articles in

[00:15:13] newspapers and magazines and 17 books.

[00:15:16] Research interests broadly include data science ethics, digital forensics, personal information

[00:15:23] management, counterintelligence, and counterterrorism.

[00:15:26] He is currently chief scientist, Basis Tech LLC.

[00:15:29] Here, Simpson is reporting on the resurgence of analog computing.

[00:15:32] Initially, humans were the first computers,

[00:15:35] manually performing calculations.

[00:15:37] Mechanical computers with a crank followed.

[00:15:40] Electronic analog computers used voltages and circuits

[00:15:44] to compute in the past

[00:15:45] century. Digital computing appeared in the 1930s, but now there's renewed interest in

[00:15:51] analog computing due to neural network computations using floating point numbers. Transitioning

[00:15:57] back to transistors for direct math calculations may create more efficient neural network computers

[00:16:03] like those in science fiction.

[00:16:05] Articles and publications like Nature magazine hint at this shift.

[00:16:09] Analog computing is making a comeback

[00:16:12] with promising prospects for the future of computing.

[00:16:15] Here is Simpson's entire analysis.

[00:16:18] This is Simpson Graphical for CenterClip

[00:16:20] and I want to fill you in on what's happening

[00:16:23] in the wacky world of analog computing.

[00:16:26] Now, the very first computers were human, of course.

[00:16:30] These were people who sat down and cranked through the calculations.

[00:16:34] But that expression, cranking through the calculations,

[00:16:37] then refers to the very first mechanical computers where there was literally a crank that was used to help add numbers together

[00:16:45] and eventually to multiply them, things like the Thomson Erithmometer from several centuries

[00:16:51] ago.

[00:16:52] But then with the breakthroughs of electronics in a century ago, the very first electronic

[00:17:00] computers were analog and they would do math by adding voltages together and

[00:17:07] moving those voltages through different circuits and different circuits wired up would produce different

[00:17:14] computational results. Now we move to digital computing in the 1930s because

[00:17:20] unlike analog computers, digital computers were less impacted by noise.

[00:17:26] Nowadays though, there's a resurgence in interest in analog computing.

[00:17:31] And that's because a lot of the big computations that are being done now, the neural network

[00:17:37] computations, they're being done with floating point numbers to simulate analog computing, because they're all based on this

[00:17:46] mathematical abstraction of a neuron or a perceptron. And several groups are saying,

[00:17:53] well, why don't we just go back to analog computing? And we can actually use transistors

[00:18:00] for doing math directly rather than for simulating discrete digital circuits and doing all the

[00:18:08] math in the digital domain.

[00:18:10] We can use fewer transistors and yeah, there'll be some noise, but it turns out noise doesn't

[00:18:15] matter that much with neural computing.

[00:18:17] And so there are a number of groups trying this and there are circuit designs and there are circuit designs, and there's a lot of interest. If we can get analog computing to work at scale

[00:18:29] and use it in modern neural networks,

[00:18:33] it might create computers that, neural network-based computers,

[00:18:37] that use much less power than the systems, than the GPU trips

[00:18:43] that are running things like chat GPT.

[00:18:45] And they might actually be faster and they might be more portable,

[00:18:51] require less cooling, and it could be a real cybernetic brain in the mode of

[00:18:59] Isaac Asimov and the pop fiction from the 1950s and 1960s. It's a very exciting idea

[00:19:07] and you'll see little bits and pieces of analog computing coming out here and there. There's an

[00:19:14] article about analog computing in the February issue of Nature magazine. But once you start looking

[00:19:21] for these things, you're going to start to see them all over because animal computing is making a comeback. That's Simpson Garfin Gold for CenterClip.

[00:19:34] To round out our countdown this week, Jake Novak joins the money clip to analyze what

[00:19:38] happened in the JetBlue and Spirit merger. This week, JetBlue and Spirit Airlines

[00:19:44] canceled their merger plans, following opposition from

[00:19:47] regulatory authorities and the Biden administration.

[00:19:51] Despite losing a court battle to keep the merger alive, the costs associated with pursuing

[00:19:56] the case further were deemed too high.

[00:19:58] Novak believes the opposition to the merger was politically motivated.

[00:20:02] He observes the real threats to the economy

[00:20:05] lie in powerful monopolies such as Amazon,

[00:20:07] Google and hospitals.

[00:20:09] Amazon's dominance in the retail sector

[00:20:11] and cloud computing services,

[00:20:13] Google's control over information access

[00:20:16] and hospital consolidation,

[00:20:18] leading to rising healthcare costs

[00:20:19] are more significant concerns.

[00:20:22] The focus should be on addressing these major monopolies rather than thwarting potential

[00:20:26] mergers like JetBlue and Spirit Airlines.

[00:20:29] Here is the full moment discussing monopolies from Jake Novak.

[00:20:33] Hi, I'm Jake Novak, and today we saw JetBlue and Spirit Airlines officially end their hopes

[00:20:40] for a merger deal.

[00:20:41] JetBlue had made a good deal to buy out spirit airlines.

[00:20:46] And from the beginning, the regulatory forces

[00:20:49] in Washington were against this deal.

[00:20:51] The Biden administration was against it.

[00:20:54] They lost their fight in court to keep it alive

[00:20:57] a few months ago.

[00:20:58] And of course, even when you lose a lower court ruling,

[00:21:02] you can try to keep it going,

[00:21:03] but JetBlue and Spirit decided that was just too expensive to do that.

[00:21:09] Want to talk a little bit about where our antitrust policy is in this country and why

[00:21:14] it's really hurting not just business, not just the stock market, but it's really hurting

[00:21:20] Main Street.

[00:21:21] We do in America have some very dangerous

[00:21:25] and powerful monopolies that have been enabled

[00:21:28] by our regulatory powers in this country

[00:21:31] and our elected leaders for a long time.

[00:21:33] JetBlue isn't one of them.

[00:21:35] Now, yes, I agree with the concept

[00:21:38] that if JetBlue had bought Spirit Airlines,

[00:21:40] it would have brought airline fares

[00:21:42] a little bit higher on average.

[00:21:44] Spirit Airlines is typically the cheapest carrier and you get what you pay for.

[00:21:50] No offense to the folks at Spirit Airlines, but I'm sorry.

[00:21:53] No offense to you personally, but honestly, the service at Spirit Airlines is dicey.

[00:21:58] The boarding process at Spirit Airlines is dicier than other airlines.

[00:22:02] And that's what you expect when you go on Spirit Airlines.

[00:22:05] You know what you're getting when you book a flight on Spirit.

[00:22:08] It's not like they're letting people down so much

[00:22:10] from what people understand.

[00:22:12] JetBlue is also a low cost carrier,

[00:22:14] but it is a better carrier as far as quality

[00:22:17] is concerned than Spirit.

[00:22:18] And yes, you pay a little bit more for that.

[00:22:20] JetBlue's prices are on average higher.

[00:22:22] And again, I agree with the argument

[00:22:24] that if JetBlue had bought Spirit Airlines

[00:22:26] and swallowed up that airline,

[00:22:28] we would have seen prices overall go higher

[00:22:30] because clearly JetBlue would have put their own pricing model

[00:22:34] into what they're doing at Spirit Airlines,

[00:22:36] what they would have done at Spirit Airlines.

[00:22:37] I don't deny that.

[00:22:39] The thing is that as far as moving the needle

[00:22:42] in any big way, it wouldn't have done that. You would

[00:22:45] have seen a small increase in some prices. How great would it be if all of the prices

[00:22:51] that we fly on major carriers were as low as JetBlue? So JetBlue was going to bring

[00:22:54] the prices up to their level on Spirit Airlines. That would not have been a very big deal.

[00:22:59] I believe that there were political reasons for trying to keep spirit airlines separate from JetBlue.

[00:23:05] And that's another discussion,

[00:23:07] but it wasn't really a major, major concern

[00:23:10] as far as the American economy was concerned.

[00:23:12] Now, this all happens at the same time

[00:23:15] that the same agencies going after

[00:23:16] the JetBlue spirit merger are ignoring some of the monopolies,

[00:23:20] some of the massive monopolies we have in this country

[00:23:22] that are much more harmful

[00:23:24] and are really, really really threatening not just our economy

[00:23:26] But our American way of life every single day and already have destroyed many aspects of it

[00:23:31] I just want to focus on three really quickly Amazon Google and hospitals

[00:23:36] Amazon has destroyed the brick-and-mortar retail sector in America now not all of that is bad news

[00:23:43] There are a lot of things that in retrospect,

[00:23:45] we should be buying online. It will save us time. It'll save us money, save us energy,

[00:23:50] all that kind of stuff. The problem is that Amazon has so many other businesses and uses

[00:23:55] its monopoly in the retail industry to pressure people to go into their cloud computing, to

[00:24:01] go into some of their other businesses. And this is exactly what we mean when we talk about

[00:24:04] a monopoly. It's not just the dominance in their other businesses. And this is exactly what we mean when we talk about a monopoly.

[00:24:05] It's not just the dominance in their main field.

[00:24:09] It's the fact that they can use that dominance to leverage other fields.

[00:24:12] Amazon should have been broken up a long time ago, at least when they announced

[00:24:16] that they were splitting up their headquarters, one in DC and one still

[00:24:19] back in Washington state.

[00:24:20] That would have been a very obvious time to do it.

[00:24:22] It didn't happen.

[00:24:23] And we're the much the worst for it.

[00:24:28] Google has become the de facto publisher, only publisher in America. Google has so much power with its search engines and other technology at

[00:24:33] its fingertips that it is absolutely acting as a de facto sensor of a lot of ideas, not

[00:24:39] just political stuff. I know everyone focuses on that. But other things as well that could

[00:24:43] really help the economy if they got out there.

[00:24:45] But Google is basically the only gatekeeper

[00:24:47] for the majority of Americans on what data and information

[00:24:51] they see and don't see.

[00:24:52] And finally, probably the most dangerous of all,

[00:24:55] hospitals in state after state have been consolidating

[00:24:58] at a record pace since the mid 90s.

[00:25:00] We have much fewer choices when it comes to healthcare.

[00:25:03] The big reason why healthcare costs have gone up,

[00:25:05] we haven't seen any real major hospital mergers

[00:25:08] stopped by the federal or state governments.

[00:25:10] That's the problem, folks, not JetBlue and Spirit Airlines.

[00:25:13] I'm Jake Novak. Thanks for listening.

[00:25:19] We'll have to hold it there.

[00:25:21] Please remember this episode presents the personal opinions

[00:25:23] of these individuals

[00:25:25] and should not be viewed as investment advice. Thank you to Scott Stantis, Jennifer Horn,

[00:25:30] Simpson Garfinkel, and Jake Novak. For their work and more in real time, please visit centerclip.com.

[00:25:37] This show has been produced in collaboration with Crosscheck Media Management. Crosscheck redefines

[00:25:43] family office services with a distinctive blend

[00:25:46] of financial expertise, media innovation, and alternative investments. One topic at a time,

[00:25:51] leaders on both sides, always under five minutes. That is elevating discourse.

[00:25:56] Again, centerclip.com for more throughout the week. We'll be back next week. This has been the

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