Millers and Markets

Episode 167 of the Far Middle continues the series’ recent focus on California, beginning with a nod to National Avocado Day and California’s state fruit. Nick’s sports dedication then proceeds to celebrate California basketball royalty: Cheryl and Reggie Miller.

Reflecting on Cheryl and Reggie’s achievements, Nick notes how wildly similar their careers are: both played college basketball in Los Angeles, both wore number 31, and each has those jersey numbers retired (at USC for Cheryl and the Pacers for Reggie), both won Olympic gold, both pursued careers in broadcasting, and now both are in halls of fame.

Nick pivots from the Miller siblings to a broader conversation on the evolution of professional sports, discussing changes in hockey, football, baseball, and basketball, and the differing priorities between the game, athletes, and leagues.

Nick critiques the current state of professional sports leagues, highlighting their hypocrisy and inconsistency in their values.

“Leagues today they virtue signal every chance they get,” says Nick. “Yet when you see how each league ignores its supposed values to pursue financial interests in the mighty dollar it creates a cred problem; each league quickly forgets and jettisons its teachings and preachings to the fan base and that comes across as incredibly hypocritical and inconsistent.”

From sports, Nick shifts gears to a McKinsey study that finds 57% of American Millennial electric vehicle (EV) owners are likely to switch back to gasoline-powered cars. Nick examines the hidden costs and challenges that are likely driving those attitudes towards EVs.  

Next, in response to listener inquiries, Nick analyzes the New York court case against former President Trump, critiquing the prosecution and judicial process as politically motivated. He compares the case to Hillary Clinton's campaign finance violations, suggesting a double standard in legal accountability.

In closing, Nick discusses the current stock market and investing environment, expressing concern over high valuations, low volatility, government debt, and geopolitical risks. And while talking dollars and cents, Nick makes one final connection to today’s episode release date by noting the historical significance of July 31st, 1792, when the cornerstone for the first U.S. Mint building was laid in Philadelphia.