Ep. 119: Stock Market Drops—Should You Be Worried?

The X's and O's

In this episode of the Retirement Plan Playbook, Matthew Theal and Joshua Winterswyk tackle the latest market pullback and what it means for investors. Is this a normal correction, or are we headed for something bigger? More importantly—what should you do (or NOT do) right now?

Here’s what we cover:

  • Why the market is down & what’s fueling volatility

  • Investor psychology – How emotions impact your financial future

  • Is this a buying opportunity or time to pull back?

  • Historical trends – How does this market drop compare to past corrections?

  • Housing market debate – Will interest rate cuts push home prices up or down?

Plus, we discuss political influences, tariffs, and the latest AI-powered tools reshaping the financial landscape.

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Transcript

Disclaimer: This transcript was automatically generated. Please excuse any typos or transcription errors.

Welcome to the Retirement Plan Playbook hosted by Brent Pasqua, Matthew Theal, and Joshua Winterswyk of Evermont Wealth. This podcast dives deep into investment strategies, retirement planning, and current events, equipping you with the insights needed to craft a robust retirement playbook adaptable to any political or economic climate.

Join Brent, Matthew, and Joshua as they guide you through the complexities of retirement planning. Offering expert advice. to tackle challenges and the later stages of your journey. It's time to build your optimal retirement playbook. Now let's dive into today's episode.

Josh: Matthew welcome back.

Matthew: Hello,

Josh: Joshua. How's it going? I'm licking my wounds. Yeah, you've been pretty down

Matthew: To say the least I haven't been down just you know, the market's been going down And I wear it like personally on, on me. You wear your heart on your sleeve? Yeah, when it comes to the stock market, I do, yeah.

You do?

Josh: Yeah. It's the Matt roller coaster, I call it.

Matthew: Well, see, the thing is, I don't like personally losing money. And I really don't like it when I see our clients accounts dropping in value. I don't like it when anybody's losing money.

Josh: And you're very

Matthew: vocal about it. I'm very vocal and I like move to another dimension.

Josh: Like stranger things. You're in another dimension.

Matthew: Yeah, or like, I kinda like lock in. Dialed in I

Josh: think is the term you use

Matthew: dial. Yeah, I dial it in You know kind of maybe like Kobe Bryant

Josh: Okay, well maybe Let's have like a more recent Ref maybe like Luka Doncic,

Matthew: but we'll see. I just haven't seen Luke in a big game yet But Kobe's I mean, you know Kobe would lock in

Josh: that's funny to me How's

Matthew: that funny?

Josh: It just is no, but no to be in all seriousness. I think that it is unfortunate that we're seeing, you know, some markets sell off here, but I think that as financial advisors creates even more focus.

And I think you agree with this. Like there's more to be learned when the market's going down, there's more focus that. Needs to be had when we're seeing more volatility because you know what they say the higher the vix the more the clicks That's true.

Matthew: So what what it is is as advisors is our clients don't hire us for bull markets They hire us to keep them from doing something stupid when the markets going down

Josh: from not being emotional about their money

Matthew: Exactly.

So that's one

Josh: of our five keys to successful investing

Matthew: it is so as advisors when the markets going down We have to lock in but let me just turn this around back to you The markets haven't really going down that much. No,

Josh: no, no. I was on a call this morning. It was funny because you know, the, the person I was talking to is like the market's crashing.

Yeah. And you know, as of recording S and P year to date was down four and a half percent. I mean, yes, maybe some concern, but I wouldn't call that a sell off or I wouldn't call that a correction or a crash. Technically it's not. So.

Matthew: Yeah, so it's not down 9 percent from the highs, right? Almost 10. So that's a correction standard average correction per year.

That's what

Josh: SMP hasn't hit 10 yet. No, I think NASDAQ like got closed. So I mean, if you're gauging it off the S& P, we haven't hit correction territory, though.

Matthew: I'll tell you what this is. Half of the country hates Trump so much, that they want the market to crash with all of his policies. They're going on, so it's like they're sitting there rooting for it, and it's getting a lot of news coverage.

Josh: It's a lot of news coverage. It's everywhere. Yeah, and that's true. I think, regardless, right? If Harris was elected, you know, the Republican supporters would have been kind of rooting for failure, which I think is the wrong take. From both sides regardless of who was elected.

Matthew: I think last august the market went down more than it's gone down so far to start this year

Josh: Yeah, we haven't hit even the the low point of last year

Matthew: Yeah, so I mean I think stocks are back to where they were in like september october of last year And

Josh: we can't forget the last two years 2023 2024 we had over 50 percent growth

Matthew: That's amazing.

Josh: Like let's not forget that we can't have too much recency bias

Matthew: Yeah, and historically there's only been four years like that like what we've seen the last two years in 23 and 24, right? Mm hmm. So it happened in the 1930s the 1950s the Was it the 1990s? Mm

Josh: hmm

Matthew: and then Today,

Josh: yeah, and the following year two of those years were negative two of them were positive Yeah, so it's coming quite look but historically we're still in The early stages of a bull market if it is true truly a bull market

Matthew: Yeah, we're in the very early stages of a bull market.

It'd be it'd be very rare for us to turn around from here And drop into a deep bear, but we are coming out of unprecedented times COVID was unprecedented. Yes, and the market that we that was created during COVID was also unprecedented But let's talk about this market weakness. Have you heard the theory?

Josh: Tell me about the theory, Matt.

Matthew: So there's a conspiracy theory going around online, and you tell me if it's crazy. So the theory is, is that the Trump administration is purposely taking the stock market lower

in order to create a smaller recession. drain out inflation and the excess that was created during COVID quote unquote reset the economy and allow for more growth, tax cuts, interest rate cuts, and, ,

Josh: provide that big home run boom grand slam.

Matthew: Exactly. What do you think of this theory?

Josh: I think it's giving, here's one thing.

I think that they're okay with the short term volatility for the potential of what you just explained, right? The home run, the second half of the year, the home run over the next three years. So this administration isn't as worried as Maybe even it was the first time when they were elected but saying we're okay with kind of Disruption in this first part of the year to set us up better for the future Which typically presidents and when we've assumed they want growth right from the you know from right when they start right to kind of You know appease their voters, but I think that we're also maybe giving too much credit to And too much power to the president to say that he is actually fabricating this slowdown.

I think that there was pockets of the economy that were already slowed down, slowing down well before he was even in office.

Matthew: It's actually funny. Because it kind of sounds like you believe in the theory sort of to an extent, but not completely.

Josh: Like,

Matthew: did you notice that? So Lutnick, is he the transportation guy? Who's Lutnick he's in the cabinet. Lutnick Bessent, the treasury secretary, who's a former hedge fund guy, really smart. And then Trump, they've all kind of came out and be like, ah, we don't really care about the market. We don't care what the stock market does.

Here's the thing though, until

Josh: they do. That's true. You know, a lot of this is, you know, everyone's afraid that okay, they came out and said this and it's just going to continue to go down and they don't care. There'll come a point that if it continues to decline that they will.

Matthew: Right. And that's the reason I don't believe the theory.

Because if the market declines too much they risk creating a big mess. And the Democrats are already predicted to win in the midterms or the predictions have Democrats taking back a lot of power. And a big market mess. They might not be able to clean up by the time the midterms roll around here.

Josh: I agree. I agree. I think that can calm a little bit of nerves, right? I mean, Four years also isn't that long of a time. We've seen that. I mean, we went through the Biden administration that flew by. Now even with this administration, it's gonna fly by and there's only so much time. So I don't think they want to create a mess that they can't clean up.

Matthew: So that's why, you know, the theory sounds great, but I think it, I think it's false because of that. Actually kind of what's, what's unique is seasonally we're in the weakest period historically for the stock market. There's two week periods. Do you know what they are?

Josh: Yeah, we have now. March. February, March.

For the most part.

Matthew: Yeah.

Josh: And then we can look at What's the second one

Matthew: september october?

Josh: Yeah fall. Yeah. Yeah,

Matthew: and so Personal income taxes are due in april. So the theory is people sell stocks to pay taxes

Josh: And to compound that not only selling stocks to pay taxes Selling stocks after we had 50 percent return in the market over the last two years People are finally taking profits because they're seeing some weakening and the weakening might not be grand Signs of weakening.

I'm going to take some profits. We're going to take some money off of the table on top of selling for taxes and the seasonality that we already experienced throughout history.

Matthew: Exactly. So yeah, so it's a seasonally weak period of time and you know, right around mid March, which is where we are is typically where the market bottoms for the year and then it trends higher the rest of the year with some weakness in September, October.

So I, I think we are close to a bottom on that. The market's also deeply oversold. So I think we're, we're setting up for a bounce. We're bouncing today. So I think that's positive. Could there be more downside? Yeah, sure.

Josh: We have a lot of clients asking. What should we be doing right now?

Matthew: Well, what do you think they should be doing?

Josh: Nothing. That's a good answer. It's too late.

Matthew: I I think if if you want to be reactionary right now Historically the most money has been made when by actually buying Stocks when they're falling

Josh: not selling but I think that that's our theme is you should always be buying and if you had Weighted on buying now is an even better time to buy.

Yeah, you have cash on the sidelines. You have money that isn't Invested in stocks that maybe should be here's your opportunity and for the

Matthew: younger generation, this is great and on the flip side For some people who you know haven't met with a financial planner yet. You're looking to retire you want to build that retirement plan if you've lost a lot of money over the last month, maybe you're down somewhere between seven to ten percent That means you're way too aggressive

Josh: I agree.

I've seen that twice this week

Matthew: me too. I Was looking at a new client and I was going through his portfolio same. It was new clients, too Yeah, I was like wow, you're just way too aggressive for wanting to retire next year

Josh: Yeah, and naturally you can look at the rate of return here today Even on someone's 401k when we see these new clients or investment portfolio and if you're down Eight to eleven percent and you're prepping like you said for retirement There needs to be some reassessment.

Matthew: Yeah. So really good time down market to reassess that portfolio and build out that plan. So you can know what percent of stocks and bonds you need. Because you don't need 80 90 100 it's probably a lot less so then you don't have to live with that volatility

Josh: This is a good stress test time to really determine because we've just been in this bull market Really determine what is your comfort level today?

Not two years ago. Not five years ago But if you're really nervous about the market, you're really concerned you're entering in retirement or you're in retirement You really need to take a look at the plan and the portfolio because things have changed and you probably weren't, it wasn't top of mind cause we were just growing the last two years.

Matthew: Yeah, we were going up like kind of, it was like an endless bid, but Hey, I mean, this pullback's not even that bad. It could get worse. Actually what it reminds me of was, is 2020

Josh: COVID

Matthew: yeah, just the, cause I think what's scaring people is how fast it's gone down in the last two weeks. Cause everything was fine.

You know, we were cruising along up three, 4%. I think the market was up like 5 percent at the highs. Yeah. Yeah. And then it just started dropping and a lot of the popular stocks that people own like the individual investors own dropped a lot I think tesla's down like 40 NVIDIA dropped a lot of the

Josh: stocks that people talk about.

Matthew: Yeah, apple dropped

Josh: NVIDIA.

Matthew: Yeah and it reminds me of that kovin market where everything was fine And then they started shutting down the economy and the market fell 30 percent in like a month

Josh: Yeah, I don't mean I don't

Matthew: see that

Josh: happening,

Matthew: but it's very similar. Hold on. Hold on. It's a good story though And then it rallied 50 percent and close the year up 16%.

Josh: Yeah. I think it recovered by what August.

Matthew: Yeah.

Josh: So we, and we didn't even close that year negative.

Matthew: Like, and that was probably to me, one of the best money making years for investors and you know, even, even clients, because if, if you were able to position yourself and get in the market when it was down, it was just a tremendous long term buying opportunity.

We haven't had a buying opportunity that good in a long time.

Josh: Agreed

Matthew: even 2022. I don't think it was as good of a buying opportunity as 2020 was

Josh: No, it wasn't because the market even wasn't as down as far as it was in 2020

Matthew: Right and like the just amount of individual stocks that were really beat up in 2020 was a lot more than 2022 in my opinion.

Josh: Yeah. No, no, I agree

Matthew: All right. So this is setting the table for what everyone's been waiting for those interest rate cuts What do you think how many cuts we get this year?

Josh: Hmm? It's hard because last year I was right.

Matthew: You were telling me today, you're like, what if they cut in March?

Josh: Nah, probability is like 90%.

They're not cutting. I'm not as strong as they're going to cut next week. I want to say three, but I think it's probably two.

Matthew: The bond market's telling the Fed they need to cut the bond market saying, Hey, you're behind the curve again. Like you always are federal reserve. You need to cut rates.

Josh: Yeah, but that's the, that's been the theme.

We know that also pal came out last week and said economy's pretty strong. Sure there's pockets that aren't, they're pretty happy.

Matthew: I don't know. There's a lot of unemployed government workers who are going to say the opposite.

Josh: No, I agree. That's why I said there's pockets. He mentioned that there was pockets too.

So, you know, I think that what he is foreshadowing is No cut next meeting, but again yet to be seen if this Economic data comes poor over the next few months Market continues to fall you could see a lot more cuts potentially

Matthew: I think they said is there three cuts priced in or two priced in right now?

Potentially

Josh: good good time to diversify those bonds if that's what we're predicting.

Matthew: Yeah. Yeah. No, you need to go longer term bonds right now Okay, so you cut rates that should get the housing market going, right? So the, the biggest question that I've been getting when I've been talking about interest rate cuts with, with clients and is they immediately ask about housing and they're like, well, do you think housing prices are going to go up or go down if interest rates get cut and mortgage rates follow and go down?

What do you think? Up. You think they're going to go up? Prices. So I think they're going to go down. Prices. Housing prices. I think they're going to go down.

Josh: I, I would think of that if we, and again, it depends on the area. The US is very large. But with how low pending home prices have been and, or excuse me, pending home sales have been, compound with the lack of supply, I think that a lot of people are holding off for rates to come down and that's going to create just more demand with that same lack of supply.

Matthew: Well, see, I think it could open up the market because people are going to be like, Oh, now I'm going to put my house on the market because. My payment I'm going to trade my house and I'm either going to go up or go small And my payment will be not too much more money because rates have come in So you're going to see more inventory on the market and there won't be as many buyers.

Josh: There's there is There's going to be Just as many and more buyers than there are going to be sellers still because we're in such a supply issue I don't know because my whole thing is if you can't I don't see you know tons of people flooding the market and Selling their properties because rates went from six to five.

Matthew: I mean there are seven or eight

Josh: No, I know but most people even over the last couple years who either a lot, you know What I guess what I'm saying is is the people who are locked in are locked in at three two and a half three three and a half So even if rates came in at five or four and you still run that payment calculator, you know, that get that variance still, isn't big enough for people to be flooding to go sell their houses.

So you're bullish housing if it's good code. This is good. I'm Barry. I mean, I, I, I guess, but yes, I think that just because there is such a huge lack of supply, pending home sales are the lowest they've been. New starts are low. It's not going to fix itself overnight and that's going to mean that you're going to have more people interested in buying because rates are lower.

And you're not going to have the flood of people selling unless rates come down to 3%, which I don't believe they are overnight. Yeah, if

Matthew: they went

Josh: down to 3%, that'd be really bad. It would be really bad. That would signal a lot of other bad things. But I think, you know, from a housing perspective, that's going to motivate a lot more people to buy, sell, move.

Matthew: Well, podcasting, though we disagree. So maybe we'll follow up on this in a year and we'll see where we are.

Josh: Sounds good.

Matthew: My guess is nationally. They dropped your guesses nationally. They go higher. Alright, anything else left to cover? Housing market. Oh Yeah There's a lot going on. I mean,

Josh: it's just every day I wake up and I read and I'm just like how do I keep on top of all of this information?

We have some good resources out there that are helping us with that But I think you know people are concerned about the market I think people are also more concerned about how quickly things are changing politically And that's creating a lot of nervousness in combination with the market going down.

So I think this is a really big topic. Have people figured out the terrorist or negotiation tactic? I mean, I, I, yes, but do we know that for certain? No, but in my opinion, yes, I do believe that this is more for negotiating. So which would mean it is a short term kind of, you know, volatility event than a long term one.

We literally did this we went through this in

Matthew: 2018.

Josh: Yeah, but it wasn't it wasn't as it wasn't as Publicized it wasn't as drastic. It wasn't as quick You know people don't like change man not change at this speed.

Matthew: Yeah, no exactly That's why they don't like all the government cuts and funding and layoffs.

So people people get scared I get it. It

Josh: is. It's, it's a nervous time because it is different than what we've been doing. So whenever that happens, there's going to be nervousness, uncertainty, and you know, that's obviously why Mark is volatile too.

Matthew: So I'm truly not smart enough to know if the tariffs are a good or a bad thing,

Josh: neither,

Matthew: but I will tell the listeners. The one thing I do know is we hold all the cards. And when you're the largest country, the largest economy, With the strongest currency, the best financial markets, we hold the cards.

Josh: Absolutely.

Matthew: So what you're seeing on the news about panic, about Canada, about steel prices going higher, about all this.

All of this blah, blah, blah, blah, blah. It's just noise.

Josh: What happens though if, you know, these deals get done with these countries and tariffs go away? We'll continue as we've gone,

Matthew: as we have. And market goes higher? I mean, I think the market's probably gonna trend higher regardless of what happens, yeah.

Josh: Then just the nervousness goes

Matthew: away. Yeah, I mean the market didn't pay attention to the tariff news for the first month of his presidency. If

Josh: you're looking for like the glass half full with it too, you can see how these tariffs have been turned on and off. Very quickly as these negotiations happen with canada and mexico so to me that makes me have a little bit more like peace of mind that it isn't some broad tariff That's going to be implemented long term.

That's going to ruin other things that we can't foresee and like you said more of a negotiation tactic.

Matthew: I mean I was talking with paulina the other day Paulina, our client service

Josh: associate at Evermont Wealth.

Matthew: Yep, Paulina. And we were talking about the, what's going on with Mexico and, you know, him and the Mexican president Claudia blinking on her last name.

Josh: No, no, can't quote it. Seems like they're on the same page. She's in right now. I mean, they've paused. But they're working together on a deal. She's even reported

Matthew: that. Exactly. The, the, the ones who aren't playing nice are the Canadians.

Josh: Yeah.

Matthew: Yeah. So I think it's more of a negotiation tactic, but we'll see. I could be wrong.

Yeah. Well, it is wait and see. So make sure those portfolios are diversified, but okay. Let's see. Do we have anything else to talk about market wise? Do we cover everything?

Josh: I think so.

Matthew: Are your clients asking you questions?

Josh: Yes. Always. And I hope this podcast and especially this one, cause I think it is really, really timely.

We can take a step back from being so nervous because there is a lot of things that we need to wait and see, but also gives it context that it isn't as bad as the media is portraying.

Matthew: Yeah. Yeah. It's, it's not as bad. It never is as bad. I agree. Scary in the moment, but never as bad. And so we have to remember okay, let's talk about this crypto reserve thing real quickly.

Josh: I'm good. Let's skip.

Matthew: No, I agree. Like it was stupid. That's what I'm saying. Like the whole crypto reserve that they came out with and I'm

Josh: talking about, you know, what coins they're going to use and. I just think it was also like bad timing. Yeah, like very, very poor timing critical.

Matthew: That's the thing with this administration is they're doing a lot, but they're also doing way too much, way too fast.

And their timing's off on almost everything. I

Josh: agree. Like, how is like, Announcing we're going to, you know, buy a bunch of crypto as a reserve. Like, why is that necessary to mention right now with what everything else we just talked about, which is probably more top of mind for Americans than us buying XRP.

And if this happens, I have to, cause you do like crypto, you're very rollercoaster Matt up high and high and low on crypto, but if this happens and cryptocurrency doesn't start to be applied more and price doesn't continue to go up significantly, then I don't I think I might be to the point where I'm giving up on crypto.

So that's, again, that's a couple of years away, right? All those things have to happen. But like, this is the event that should accelerate cryptocurrency to its maximum potential.

Matthew: Well, I think Bitcoin's already there. I think it's more about Bitcoin than anything else. But he came

Josh: out and didn't even mention Bitcoin.

Trump did in his announcement of

Matthew: his crypto

Josh: reserve. Yeah, so like He had to go back and mention Bitcoin.

Matthew: The problem is like, they're just going too fast and they made a mistake and then they even redid it after that.

Josh: Yeah, but I do, I know that we have compensated. It's confiscated a ton of cryptocurrency.

Let's just take that. That's, well, that's what it is. And, and, you know, and I think a lot of people are thinking the government's going out and buying, They're not. You know, a bunch of coin. And, you know, I'm all for, though, that compensated crypto, creating a little bit of reserve for the U. S. Why not?

Matthew: Our country's two trillion in debt. We can't buy anything.

Josh: Yeah. But I think a lot of people think that that's not what's happening. So to clear the air on that or kind of explain that they're actually going to kind of stake that crypto as the U. S. 's and create a reserve, you know, it's not taxpayer dollars going and buying XRP or

Matthew: No.

It's Solana

Josh: coin.

Matthew: No, and if, if anything, they're trying to be more efficient with our taxpayer dollars since we are two trillion dollars in debt.

You know, we're basically like the equivalent of a client come into us with a lot of credit card debt. That's that's the US government. Not fun. All right, let's talk about something more exciting real quick. This wouldn't be a podcast without talking about how cool AI is. So you and I kind of went down this rabbit hole over the past two weeks and we started creating, creating our own apps.

With AI using coding software and neither of us know how to code Explain

Josh: that I don't know how to code so coding You know creating web pages creating apps You need someone to actually write the instructions right codings like the instructions and the the blueprint So language, the whole language, the language to create, you know, web pages, applications that we use every day.

And this is a huge industry, right? For people to be able to code. I think also, you know, it was probably around the time when I was graduating college, where it was starting to get like. Really popular for people to major in IT and learn how to code and everyone's like if you want to separate yourself From the pack go learn how to code right?

Like that was like the big thing that was going on at that time I mean, I never learned. I mean, I didn't take that advice. I went down this finance financial pattern path instead but with that being said AI artificial intelligence now Is smart enough. So these models are smart enough for you to ask them to write code for you, which is pretty insane.

So what Matt and I have been doing is basically. Just kind of dorking around with these AI tools to say, can you create these apps for me and write the code for me instead of hiring someone to generate this idea? And it is pretty darn impressive.

Matthew: Yeah. I think we got four working apps done in like a three days time period.

Josh: Yes. Yes. Very impressive. And I think it's just more so, you know, as financial advisors, we use a lot of like software and tools. And so the, like the apps we're creating are, are to use with like our clients. Cause we were just using, let's say a third party or simple calculator. Can we do this ourselves and use it for ourselves?

And it was shockingly easy to do and get up and running. Now were they perfect? Were they visually great? Maybe not. That's to be argued. But functional wise, you had an app running in what an hour?

Matthew: Yeah, I built a social security and maximization software over two hours.

Josh: Yeah, it's just insane.

So I think, you know, as Americans and as investors, if there's something to be really excited for You know, it's the development of this new technology as well. I'm excited for it. I know you are and you can express that to the audience too, but pretty amazing how, how fast AI has grown just from when we were even talking about it.

What? You know 12 months 18 months ago.

Matthew: I mean chat gpt came out at the end of 2022 Okay, we're at the beginning of 2025. We're so early in this.

Josh: Yeah, absolutely Yeah, we've been talking about that too a lot of opportunity. Absolutely. Don't miss

Matthew: it what do you got to recommend? Have you been doing anything cool?

Josh: I got my new golf clubs. Did I talk about that yet? You might have mentioned on the last show that like you bought them. No one got fitted. I got them. They're in the mail Dude, they're at your house. Have you hit him yet? Not yet. Not yet. I still need to work on that. So Yes, I just wanted to update the audience that I finally got them, but I haven't hit him yet Let's schedule a golf round soon.

I know you wanted to talk about because we like to show White Lotus. That's a good show. Very, very well done. High value. Is it Mike White who does it? I think. Yeah. He's the producer and writer. Yeah. We finally started it. I'm only two episodes in. I think I'm two behind. Yeah. But it's already kind of got me very, very interested and I'm glad it's back because I really, really liked that show.

So recommending White Lotus. Season three.

Matthew: Yeah. Season three. We'll see you there. in Thailand. I'm fully caught up watched episode four last night. It's a little bit different than the first two seasons I still think season the first ever season was the best.

Josh: Oh, that was great The season's

Matthew: really gonna have to pick up the top.

Season one but it's actually not a full storyline this this year It's actually a lot of micro stories, which is kind of kind of interesting. But we'll see where it goes I think there's probably still four or five episodes left in the season.

Josh: I'm disappointed. They changed the intro music

Matthew: Yeah, me too.

Josh: It was kind of like you listen to that intro music and it got you hyped for white lettuce. Yeah. A lot of good shows coming out this year though. What

Matthew: are you looking forward to?

Josh: The last of us, I think is coming out soon. Last of us is coming back. Yeah. There's just a lot. I can't, I'm drawing a blank on all of the, the shows that we watch that the New Seasons are coming out this year.

I think it's gonna be a good year though, for tv.

Matthew: Yeah, it should be. I, I think a lot of the studios are investing a little bit more. They hit a rough patch in 2022. And then COVID really put them all behind. Did you watch A Real

Josh: Pain yet? A real what a real pain. I think it's the real pain a real pain.

I was with Jesse Eisenberg and Kieran Colkin. No, it's a movie Yeah, it's a movie. I think it's on Hulu and Karen Colkin won best supporting actor Okay, so another recommends from a show perspective, but it's like a quick watch I think it's only like an hour and 25 minutes because I feel like every movie now is like three hours.

Yeah But it's a story about cousins and their grandparents die and they take a trip to go like see her where she was from and Just to watch Karen Kulkin, like, and he won the award, which rightfully so his, like, character was great. Yeah. And I like him. I liked him in succession. But that's a good movie.

Quick movie on Hulu if you're looking for something.

Matthew: Yeah, and I guess we'll, while we're doing that, we'll shout out Anora. I haven't watched it yet. Mikey, Mikey Madison, she won Best Actress. Yeah. She crushed it in that movie. Yeah, didn't know who she was before then. But she was really good.

Josh: I haven't seen that yet.

I have to watch it though because everyone I've talked to you said it It was really good. We chose to watch because we try to usually watch Like as many Oscar movies me and my wife like before the Oscars But having two kids under three and a half made it a little more difficult this year. Yeah, maybe you get an hour Yeah, we have to like break up the movies, but she wanted to watch the Bob Dylan movie good like that Timothee Chalamet He was great in it, but it was really slow wasn't my favorite.

He's a good actor Yeah, he was good. One of the best. But not kind of slow for, for my taste. I haven't seen that one. Well, maybe you gotta watch it back. You got anything left? No, I think that's good. I think that you know, we'll have a lot more content in the next podcast because the news isn't light these days.

Matthew: No, it's fun. The news is fine. I think we started the podcast in 2018 and that was a couple of years into Trump's Trump's first term. We were like, Hey, we should start a podcast. So from that angle, it's always interesting. I'm glad we're still doing it. Me too. Okay. So anything left? Nope. All right. Let's close the show.

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Ep. 118: The Nervous Economy—What’s Driving Market Uncertainty in 2025?