There’s this cautionary tale, in the finance world, that nearly any trader can tell you. It’s about placing too much confidence in math and models.Read More »The rise and fall of Long Term Capital Management

So the president can’t spend more money than Congress has agreed and voted to spend. But can the president spend less money than Congress wants?Read More »Can the president override Congress on spending?

There has been chaotic uncertainty around billions of dollars allocated by Congress. The Trump administration ordered a pause on — and review of — certainRead More »The Big Government Money Pipe Freeze

The San Jose was a marvel of 17th century technology. The Spanish galleon weighed more than a thousand tons, was made of wood reinforced withRead More »The fight for a legendary shipwreck's treasure

Americans spend more on scratch lottery tickets per year than on pizza. More than all Coca-Cola products. Yet the scratch ticket as a consumer itemRead More »How the scratch off lottery changed America

On Monday, the stock market went into a tizzy over a new AI model from Chinese company DeepSeek. It seemed to be just as powerfulRead More »How DeepSeek changed the market's mind

When it comes to solar and wind power, renewable energy has always had a caveat: it can only run when the wind blows or theRead More »Re-imagining the energy grid … through batteries (Two Indicators)

After being sworn into office, President Trump signed a whole host of executive actions and orders that affirm his campaign promise to crack down onRead More »The "chilling effect" of deportations

The fires in Los Angeles are almost out. Residents are starting to trickle back into their burned-out neighborhoods. When they get to their houses, theyRead More »After the fires

Donald Trump is just about to begin his second presidency. And it may be safe to say that every single person in America has atRead More »Tariffs, grocery prices and other listener questions

(Note: This episode originally ran in 2018.) Is it really cheaper to shop at an airport Duty Free store? And why are so many ofRead More »The Land of the Duty Free (classic)

You know Watergate, but do you know Fedgate? The more subtle scandal with more monetary policy and, arguably, much higher stakes. In today’s episode, weRead More »The case for Fed Independence in the Nixon Tapes