Bloomberg Audio Studios, podcasts, radio news, single best idea on Apple podcasts to get the week started, a busy economic week. PPI tomorrow. That's the business inflation. It's not the same as my youth. They've reformulated it, but it's become very important and then critically important. The CPI report on Wednesday, All including Chairman Paul, will be looking at that, and then retail sales pro tip. Remember that retail sales dynamics
in the actual series is reported nominally. It's not inflation adjusted, so it's more noisy. There's more dynamic there. I do look at what's called the control group, and sort of that's where I focus on as Michael McKee looks at
thirty forty sixty line items of retail sales. We'll do that on a Thursday this week on the jobs front, and unfortunately we can be talking any economic theme, but when Tom Parcelli's on with PGUM, I have to go back to his competency that brought him to my attention and all of financial media years ago, which is this careful study of the job market wage growth, wage dynamics, if you will, and then inflation adjusted wage growth, the real wage here from Pgium Tom Parcelli on the fragility
of the market.
I think it's very fragile. I think, and again everyone should prove this to themselves. Just look at real spending year a year, and then look at the change in the unemployment rate year on year, and look at that relationship. The consumption tends not to respond well when the unemployment rate is rising, and I think that's the real challenge for the economic backdrop. I mean, I see slower growth in the months to come. I still think that we can avoid a recession, but the fit has to get
on with it to basically help in that regard. But it's going to be a close one.
Tom Perscelli of PGUM there, and we'll get much more on this as we get closer to dare I say, the CPI report Wednesday and then onto that critical jobs report. I don't even know what date it is sometime, you know, labor day gets in there, school school goes back September fourth for one of the cherubs. I was sort of shocked. That's like southern or Midwest, that's appallingly early. But the anyway, you know, we get to September and we'll get a Jobs report as well. We never know who's going to
come in the door in a home run. Today we have different phrases we used to judge people. And she was lights out. Steph Guild is with Robinhood and she's doing strategy for robin Hood. It's just a fascinating conversation. She comes from JP Morgan small Bank and she's come over to Robinhood, which is the biggest adjustment of anybody in the history of Bloomberg surveyals. There's no question about that. And she was riveting, riveting on all that's going on
with a younger dynamic. She said, average agent Robinhood is thirty three years old. I thought it was like fifteen or sixteen. Shows you what I know. But here is Steph Guild on teaching people that are doing meme stocks how to be diversified stuff. Guild of Robinhood.
You have to, you know, stay diversified. I always say, like everyone's money is kind of like a pyramid. You need to have an emergency cash, you know, just so you lose your job whatever happens. Like you've got that for at least six months, then the next layer. Make sure you have some diversification and our customer base, like we were seeing it this past you know week of volatility. They weren't just buying the names that are in our Robinhood Investor in next they were also buying broad based
index funds. Is using is a way to add to it. And then after that, you know, yes, like invest in your aspirational things because I think if you always just ever say fully diversified, you're never gonna see it. You have to take risk to get returned. That always comes with it.
Stuff Guild really successful with Robinhood. We'll have her back again. So it writes, are you ready for this? She writes a blog for robin Hood Stephanie Guild and it's called Investors Guild, Investment Guild something like that. How cute it works. It's single best idea on a Monday before a very busy week. Let me tell you about a burgeoning social because we're making some changes. I think they're constructive and
they're particularly addressed to a market. We knew it existed, but we did not understand the size, and that is our international market. We're out on Apple car Play that's worldwide at least twenty nations. Android Auto same thing Android Auto doing very well. Both of them are coming out with revamps if you will, of their software. We're out on YouTube and subscribe to Bloomberg Podcast. It's by far
and away the best place to help us. And of course we're doing this podcast and we're thinking of launching if I can figure it out, Instagram and we're going to be doing Bloomberg surveillance on YouTube Instagram with a huge thrust to our international audience. We're getting it out of the coming days. If that Bill can teach me how to do Instagram, because I failed. I took TikTok one on one and failed, so we're tried Instagram. This is on Apple Podcasts. Single best idea.