All-In E87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more

Key discussion topics from this episode:

Emerging Markets & Sri Lanka Crisis

• Discussed three market types: Developed (US, Japan, Europe), Emerging (BRICS), and Frontier markets
• Sri Lanka's economic collapse analyzed through comparison with Singapore and Jamaica since 1960
• Sri Lanka's poor policy decisions led to crisis:
  • Banned chemical fertilizers leading to agricultural collapse
  • Strict COVID lockdowns despite low case numbers
  • Excessive defense spending and public sector growth
  • Poor international relations with potential allies

Inflation & Market Sentiment

• US CPI hit 9.1%, higher than expected 8.8%
• Core inflation (excluding food/energy) at 5.9% in June
• Market reaction was surprisingly muted despite poor numbers
• Canada raised rates by 100bps, signaling aggressive moves may be needed
• Discussion of potential market bottom and investor sentiment shifting from shock to acceptance

NASA Webb Telescope

• Groundbreaking $10B space telescope producing clearest images of cosmos ever
• Technical capabilities allow viewing galaxies 4.6B light years away
• Important for spectroscopy research to understand dark matter/energy
• Project turned around by Greg Robinson after initial delays
• Pure research potential to lead to unexpected technological breakthroughs

Other Topics

• Discussion of animal testing after Friedberg adopted one of 4,000 rescued beagles
• Ukraine conflict update and potential fracturing of Western alliance over energy concerns
• Biden administration's lack of private sector experience (average 2.4 years vs Trump cabinet's 13 years)

The episode provides deep analysis of current economic challenges while also exploring significant scientific achievements and ethical considerations in research.