In this episode, we take a close look at the growing complexity of legislation in the age of artificial intelligence and how longer, denser bills create new incentives for politicians to hide provisions that voters would never spot on their own. We also examine the Trump administration’s new visa rules, including the unexpected decision to classify obesity as grounds for denial, and what this says about public policy and shifting cultural norms. We analyze Trump’s proposal for $2,000 tariff-funded checks and the Supreme Court case that could unravel the entire tariff structure, followed by a deeper dive into the real economics of trade, revenue, and political incentives. We finish with a look at the housing market, the push for 50-year mortgages, and why extending loan terms does little to address the underlying supply constraints driving home prices and unaffordability.
00:00 Introduction and Overview
00:28 The Future of Legislation in the Age of AI
08:07 No Visas for Obese People
12:12 Foolishness of the Week: $2,000 Checks for All Americans
19:40 Trump’s Political Gambit
22:35 Budget Deficits and the Myth of Tariff Revenue
28:13 The Housing Affordability Crisis
31:16 Mortgage Rates, Down Payments, and Lending Standards
35:56 The 50-Year Mortgage Proposal and Its Real Costs
45:08 30-Year vs 50-Year Mortgage Interest Rates
51:51 Are Tiny Homes the Solution?
53:50 How Politicians Could Implement 50-Year Mortgages
56:17 The Role of Banks in the Lending Business
57:18 What Mortgages and Loans Allow
01:03:20 Predictions for 50-Year Mortgages
01:07:01 Is Inflation Falling?
01:09:19 Conclusions on Mortgages and Lending
01:13:06 James’s Personal Mortgage Story
01:15:41 The Problems with Higher Education and Student Loans
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