March 2009 Began Long-Term Secular Bull Market: Sonders

The transcript discusses economic trends post-bubble, highlighting asset class volatility and labor force stabilization. It explores economic divergences, consumer behavior, and wage growth indicators, including theories from the San Francisco Fed. The analysis extends to equity markets, suggesting a long-term secular bull market with potential corrective phases. Innovation in sectors like biotechnology and robotics is noted, alongside a shift in manufacturing due to narrowing wage gaps and labor arbitrage.

What role does innovation play in fueling the next economic phase according to the discussion?

Discuss the implications of the 'total landed cost gap' on traditional manufacturing jobs in the US.