On episode 399 of Animal Spirits, Michael Batnick and Ben Carlson discuss: the shrinking number of small businesses, the stock market chart of the decade, why excess capital investment in technology leads to booms/busts, the tech sector will lead to the next financial crisis, making the case for European stocks, baby boomers still rule the day, the relentless bid from 401k investors, timing the housing market, $1.2 million in credit card debt and much more.

This episode is sponsored by ProShares and Fabric by Gerber Life.

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Find complete show notes on our blogs:

Ben Carlson’s A Wealth of Common Sense

Michael Batnick’s The Irrelevant Investor

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