Days of our Tariffs
Planet Money uses producer James Sneed's surprise tariff bill on a collectible Arthur toy to illustrate how modern tariffs hit individual consumers, including unexpected brokerage fees and customs processes. Trade lawyer Lenny Feldman explains how changes to the de minimis exemption and importer-of-record rules push more tariff and processing costs onto buyers, while economist Alberto Cavallo shows, using large-scale price data, that recent tariffs have raised imported-goods prices by about 6%, domestic-goods prices by about 3.5%, and overall inflation by roughly 0.7 percentage points. The episode concludes that U.S. consumers are clearly paying for tariffs, often in ways that are not visible at the time of purchase.
BTC254: Bitcoin & Macro Overview w/ Luke Gromen Q4 2025 (Bitcoin Podcast)
Host Preston Pysh interviews macro analyst Luke Gromen about growing financial stress in the U.S. and globally, focusing on the Treasury's heavy reliance on short‑term funding, strain in repo and funding markets, and the fiscal math of interest plus entitlements nearly consuming all tax receipts. They discuss how Bitcoin acts as an early warning signal for tightening liquidity, why gold is increasingly favored by sovereigns, the contradictory policy push around stablecoins, and how AI capex, energy constraints, geopolitical shifts, and rare earth dependencies further complicate the outlook. Gromen argues policymakers are trapped between preserving the bond market and reindustrializing the U.S., and that some form of sharp market "whoosh down" may be needed before large‑scale liquidity support returns.
The obscure pool of money the US used to bail out Argentina
The episode examines the U.S. Treasury's Exchange Stabilization Fund (ESF), a relatively obscure pool of money that Treasury Secretary Scott Besant recently used to extend a $20 billion credit line to Argentina without congressional approval. Through interviews with economist Brad Setzer and former Treasury official Jeffrey Schaefer, the hosts trace the ESF's origins, its rare large-scale use in the 1995 Mexican peso crisis, and compare that episode to the current situation in Argentina. The conversation explores how lender-of-last-resort principles, political risk, and Argentina's economic policies shape the chances that the U.S. will ever be repaid.
Buy now, pay dearly? (update)
Planet Money explores how buy now, pay later (BNPL) services work, why they have spread so quickly, and what risks they pose to consumers and the broader financial system. Through the story of college student Emilia Schmarzo and interviews with Federal Reserve researchers, the episode explains BNPL's business model, its appeal to merchants and younger shoppers, and the dangers of debt "stacking" when usage is not reported to credit bureaus. An update looks at how BNPL has expanded to everyday necessities, who is using it most, and how it may soon affect credit scores.
Everything's more expensive!! Pet care!! Concert tickets!! (Two Indicators)
This episode presents two Indicator stories on the rising cost of living, focusing first on concert ticket prices and then on veterinary care. The hosts examine how ticket reseller bots, mispricing by artists, and the secondary market contribute to high concert prices, as well as how one state is trying to regulate resales. They then explore why veterinary costs have risen much faster than general inflation, highlighting Baumol's cost disease, higher input and labor costs, corporate ownership pressures, and stronger emotional bonds between pet owners and their animals.
BTC252: Bitcoin Mastermind Q3 2025 w/ Joe Carlasare, Jeff Ross, and American HODL (Bitcoin Podcast)
Preston Pysh hosts a quarterly Bitcoin mastermind with Jeff Ross, American Hodl, and Joe Carlisari focused on current Bitcoin sentiment, macroeconomic conditions, and how hard assets like gold and Bitcoin fit into the evolving global landscape. They argue the traditional four-year Bitcoin cycle is breaking down, discuss golds recent outperformance versus both stocks and Bitcoin, and explore implications of liquidity trends, Fed policy, and a potential long period of hard-asset outperformance. The conversation also covers the US strategic Bitcoin reserve, AI and robotics as economic forces, the state of Bitcoin treasury companies and miners, and rising geopolitical tensions with China and the BRICS bloc.
TIP758: Current Market Conditions & Investment Opportunities w/ Derek Pilecki
Host Clay Fink interviews hedge fund manager Derek Pilecki about his recent performance and how he is navigating current market conditions in the financial sector. Pilecki explains his process of targeting ideas with potential to double in three years, combining value investing with an awareness of momentum and technicals, and selectively using leverage at both the company and portfolio level. He discusses opportunities in regional and European banks, beaten-down fintech names, case studies in Robinhood and WEX, and his views on interest rate cuts, inflation, and the real estate market.
In Gaza, money is falling apart
Planet Money follows two best friends from Gaza, Alaldeen Sheikh Khalid in Belgium and Mohamed Awad still in Gaza, as they piece together an improvised financial pipeline to move usable Israeli shekels into Gaza despite a blockade on cash and a barely functioning banking and internet infrastructure. Through their project Impossible Light and the story of a young woman named Haya living in a tent camp, the episode shows how extreme cash shortages, destroyed infrastructure, and war-driven scarcity have turned money itself into a scarce and damaged commodity, inflating prices and spawning a market where people literally "buy money with money" just to obtain physical cash. The episode details how this system works in practice, from international donors to Palestinian bank accounts to cash brokers and cash repairers, and what that means for ordinary Gazans trying to secure basics like food, tents, diapers, and milk.