Defensive Markets and California Billionaires 🎧 #586 (Jan 8)

Sources say tech founders from major companies like Netflix, WhatsApp and the payment system Stripe are among the latest looking to flee the Golden State for Florida in recent months.

A new proposed tax measure, which voters will decide on in November, would impose a one-time 5% tax on fortunes exceeding $1 billion and would retroactively apply to anyone deemed a California resident. The retroactive provision, advisers say, has turned what might have been a theoretical threat into an urgent deadline.

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Trump says he’s instructing his ‘Representatives’ to buy $200 billion in mortgage bonds, claiming it will lower rates

• President Donald Trump said he is “instructing my Representatives” to buy $200 billion in mortgage bonds.

• Trump said he was issuing that directive because Fannie Mae and Freddie Mac, the two government-sponsored mortgage-issuing entities, are flush with cash.

• It was not clear from Trump’s post whether it would be Fannie and Freddie, the Treasury Department or another entity doing the buying.

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The Supreme Court may rule Friday on Trump’s tariffs. Here’s what’s at stake for the economy

• The Supreme Court on Friday could rule on the legality of President Donald Trump’s tariffs, a decision poised to have far-reaching impacts on not only trade policy, but also the U.S. fiscal situation.

• The court has the option to grant limited powers under the IEEPA and require only limited repayment of tariffs, along with multiple other options.

• Treasury Secretary Scott Bessent himself said Thursday he expects a “mishmash” ruling.

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Daily Stock Markets covered in under 15 min. No ads. No politics! Easy to follow for your morning coffee, dog walk or commute

Full Episode: 14 min

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