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What best idea on a Friday and odd Friday. The year starts Thursday. Friday, get into a weekend, Michael Barr's got to see what Vikings Lions do. And then the year, I guess really starts on Monday, except nobody bothered to tell the markets. We had the Tesla shortfall and unit sales. We had a buoyant seat of the tape before that sell off on Thursday. We'll see what happens on Friday. As we speak now we're up, but I don't trust it. I'll have to see on that into the beginning of
twenty twenty five. What we know for certain is the dollar is front and center. I've really made a mission with our team of bookers to really do better on foreign exchange and what it means for people that wouldn't know euro yen from euroswissy. And the answer is you need good conversation. Here were the economists Neil Dutta. Neil Dutta on the stronger US dollar and the American economy.
When you have like one percent currency moves, that's a big deal, right, I mean, so I think the dollars concerning across multiple dimensions. I mean, number one, obviously it weighs on US exporters, particularly manufacturing. That's number one. Number two, going back to the equity market discussion, it weighs on earnings, right, particularly for tech companies that are global in nature, and because that's been a big driver of US stock prices.
I think the fact that the dollar has been strengthening is going to weigh on earnings and by extension way on stocks.
A treatment there from an economist on the US dollar Neil Dutta, of course, just incredibly optimistic two years ago when so few were, and now with some real caution on the American economy, just just lining up the labor economy. The view out certainly's moved away from optimism to at realism of the growth of post pandemic America. We spoke to a foreign exchange pro kit Jukes icultruly iconic. I
don't use the word often iconic. It's society general suckgen is out of Paris, and they take an immense pride in their derivative mathematics or study of the financial dynamics of the market. And wrapped around that as his authoritative coverage of foreign exchange. He knows that within the broad study of foreign exchange, there's the dynamics and various of interest rates between two countries, but separately the flows of capital as well. Money's been flowing to America. Kit Jukes of Suckchen.
In my world, the flow story is the long term vulnerability. I mean, the value of US assets that's held by foreigners is more than twenty one trillion dollars more than the value with foreign assets held by Americans. And that number blows my mind. So but you can see what it is. Treasury yields a higher, the growth stronger, the equity market's fantastic, all the other equity markets in the world that appear to be set to close, so that
we just have one exchange called America or whatever. So yeah, so I see that flow as sucking in all the world's excess savings from the countries to do allowing the US to finance this fantastic growth.
Uh, Kit Chooks, it sucked. Jen. I want to take a moment here and talk about this podcast. We invented this after I studied the podcast business and saw fabulous podcasts like The Big Take or Odd Lots all you know them, hundreds and hundreds of people doing this, and they're all like fifteen minutes, twenty minutes, twenty five minutes. And you know, I sat with my senior producer on this, Brocton.
He's very good at telling me no, and I said, you know, I really need to do a thirty minute podcast, and his eyes crossed over and Brockton said, no, that's wicked dumb, and so we're not doing that. What we're doing is two insights sometimes three of the show and of the many conversations. And what I love about it is each and every day it's very hard to pick out the two most worthy insights today. Obviously we did a thema for an exchange we hope to build out.
This podcast is a bolt on to your podcast listening each and every day. You've got David Gera that you have to listen to, and Tracy the other guy who's with Tracy, Why is it Joe the Stalwart? You know, Joe Wisenthal and Tracy and many other podcasts out there from other news organizations. And we look at this just a small four minute vignette. We're on YouTube. Podcast. It's the best way to get us single best idea