In this episode, we discuss how Meta and its algorithms shape what we see online, why the penny has finally been discontinued, and the legal and economic complications that follow from eliminating small denominations. For the “foolishness of the week,” we highlight a small-town newspaper that was awarded a $3 million settlement stemming from an unlawful raid, and the First Amendment implications it raises. We examine the disconnect between a sluggish economy and soaring asset prices, discuss how Fed policy and excess liquidity fuel inflation in financial markets, and consider what rising bubbles in stocks, housing, gold, and bitcoin mean for retirement planning and long-term investment behavior.
00:00 Introduction and Overview
00:37 Meta Entertainment and Hot Wheels
04:49 The Discontinuation of the Penny
06:45 How Eliminating Pennies Would Affect Retailers and Consumers
11:18 Who Actually Has the Power to Change U.S. Currency
12:49 Reflections on U.S. Currency
15:57 Foolishness of the Week: $3 Million Newspaper Raid Settlement
18:05 Press Freedom, Accountability, and Government Overreach
20:58 Understanding Financial Bubbles
24:29 Why the Markets Aren’t Reflecting Economic Reality
27:35 The Fed’s Liquidity Regime and Phantom Wealth
33:56 Unintended Consequences of Economic Policies
37:55 Investing in a Changing Economy
38:49 Retirement Planning in a Bubble-Driven Economy
41:11 Learning from Historical Economic Events
43:14 Personal Anecdotes and Economic Trends
45:12 Future of Investments
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