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    Corruption is a bipartisan problem

    enSeptember 23, 2023

    Podcast Summary

    • Caution Against Investing 401k in CryptoIt's generally not a good idea to invest your 401k in crypto due to its volatility and potential risks. Instead, consider more stable investment options.

      It's generally not recommended to invest your 401k in crypto. During a recent episode of Economics on Tap, the hosts discussed various news items and shared what they were drinking. In the process, they touched upon the topic of investing retirement funds in cryptocurrencies. Connor Rudolf emphasized that it's not a good idea to put your 401k in crypto due to its volatility and potential risks. Instead, it's generally advised to stick with traditional investment options that offer more stability and predictability. While discussing their drinks, Kimberly Adams shared an interesting recipe for an Earth, Wind, and Fire old fashioned that required sorghum syrup. Sorghum is a tall grass of African origin that can be pressed for juice and cooked down into a sweet, thick, viscous syrup. The hosts also shared what they were drinking, with Kimberly opting for an Earth, Wind, and Fire old fashioned, and Connor choosing a non-alcoholic version of a double IPA. Overall, the episode provided some interesting insights into various topics, including investing, cocktails, and the upcoming government shutdown. But the key takeaway for investors is to be cautious about putting retirement funds in crypto and to consider more stable investment options instead.

    • Corruption exists at various levels of power, with recent examples involving Senator Menendez and Justice ThomasTwo recent cases of potential wrongdoing by a Senator and a Supreme Court Justice underscore the importance of investigative journalism and law enforcement in holding individuals accountable, but the response can be politically divisive

      Corruption and potential wrongdoing exist at various levels of power and influence, regardless of political affiliation. Two recent news stories highlight this, with Senator Bob Menendez (D-NJ) being indicted on bribery charges and hidden cash being discovered in his home, and Supreme Court Justice Clarence Thomas reportedly attending fundraisers for the Koch network. While these stories underscore the importance of investigative journalism and the role of law enforcement in holding individuals accountable, it's disheartening that the response to such allegations can often be politically divisive rather than focusing on the pursuit of justice.

    • Democrats can contrast ethical standards with GOP during Menendez indictmentDemocrats can use Menendez indictment to distinguish ethical stance, while Food and Forage Act enables essential services during government shutdowns

      The ongoing political situation regarding the indictment of Senator Menendez presents an opportunity for the Democratic Party to distinguish itself from the Republican Party by condemning alleged wrongdoing and upholding ethical standards. The Democratic leadership, including Senate Majority Leader Schumer and Senator Booker, have a chance to set a clear contrast to the GOP's approach of supporting controversial figures. Additionally, during a government shutdown, the Food and Forage Act of 1861 allows federal employees to accept volunteer help or go beyond their funding in cases of emergencies involving human life or property protection. This law has been invoked in various crises, including wars and post-9/11, and it enables the military to continue providing essential services.

    • UAW Strike: Biden and Trump Engage DifferentlyDuring the UAW strike in Detroit, Biden supports the union while Trump holds a rally with pro-Trump union members, highlighting labor unions' political influence.

      During the upcoming week, both President Joe Biden and former President Donald Trump will engage with the ongoing United Auto Workers (UAW) strike in Detroit. While Biden intends to walk the picket lines with the union, Trump plans to hold a rally with pro-Trump union members. This strategic move by Trump, who is running a more effective campaign this time around, could pose a challenge for the Democrats as he passes himself off as a pro-labor Republican president. This situation highlights the importance of labor unions in American politics and the significant impact they can have on election outcomes.

    • 2024 Presidential Race: Unpredictability and VolatilityUnion workers' support for Trump and UAW's internal communications controversy add to the unpredictability of the 2024 presidential race, showcasing the intricacy of modern political and labor dynamics.

      The 2024 presidential race is becoming more unpredictable with unexpected shifts in voter preferences and strategic maneuvers from political figures. The union workers' announcement of supporting Trump despite their officials' endorsement of Clinton, and Trump's triangulation on abortion policies, are indicators of this volatility. Additionally, the UAW's leaked messages revealing their internal communications and strategy have caused controversy and raised questions about their bargaining in good faith. Despite the potential negative consequences, the union has effectively used strikes and strategic positioning to put pressure on automakers. These events highlight the complexity and intricacy of modern political and labor dynamics.

    • Half Price Hoodie weekend, IRS ticket sales policy, and Spanglish advertising discussedListeners encouraged to support public service journalism, beware of IRS ticket sales policy, and consider personal stance on Spanglish advertising

      This week on the Marketplace podcast, they discussed various topics, including their annual Half Price Hoodie weekend, the IRS's new policy on ticket reselling, and the debate around Spanglish advertising. The hosts encouraged listeners to donate $8 a month or $90 annually to support public service journalism and receive a discounted hoodie. They also warned ticket resellers about the IRS's new policy on reporting income from ticket sales over $600. Regarding Spanglish advertising, the hosts expressed hesitancy and encouraged listeners to make their own decisions. In other news, the IRS has lowered the threshold for taxing ticket resellers, and advertisers are responding to the changing demographics in the country. The hosts encouraged listeners to stay informed and engaged with the issues that matter to them.

    • Discussing food aesthetics, health benefits, and Senate debateFood appearance and personal preferences influence our choices, with some practices like coloring egg yolks raising health and ethical concerns, while ongoing debates in the Senate may impact food production and presentation.

      To produce bright orange egg yolks, some companies feed chickens marigolds and turmeric. This practice, while arguably cheating, makes the food more visually appealing and, for some, adds to its health benefits. The interview also touched on the ongoing debate in the Senate regarding appropriations bills and the potential for a relaxed dress code. Despite the various topics discussed, the shared sentiment was the importance of making food look and, in some cases, taste better, even if personal preferences may differ. For instance, the hosts and a guest expressed their dislike for eggs, but acknowledged the potential benefits of making food more appealing to encourage cooking. Overall, the conversation highlighted the interplay of aesthetics, health, and personal preferences in our food choices.

    • Narrow path to avoiding government shutdown, consensus among experts it's unlikelyExperts believe a government shutdown is imminent, focus on serious issues rather than individual senator's dress code.

      There is a narrow path to avoiding a government shutdown and the consensus among political experts is that it's unlikely to be avoided. Regarding the relaxed Senate dress code, despite admiring the efforts of individual senators like John Fetterman, the speakers believe that maintaining decorum and formality is important for a more serious and productive discussion in the Senate. They argue that policy should not be geared towards one member, and criticize Chuck Schumer for potentially setting himself up for criticism by bringing up the dress code issue. Instead, they suggest focusing on more pressing matters facing the federal government.

    • Reasonable accommodations for unique needsUnderstand and provide accommodations for individuals' unique needs, without extending them to the entire group.

      Reasonable accommodations are important for individuals with unique needs, but they don't necessarily apply to the entire group. This was discussed in relation to senators and their dress codes. For instance, Senator Fetterman, who had a stroke, required speech-to-text translators and other accommodations. However, these accommodations do not extend to the entire senate. Another example given was Senator Duckworth, who is a veteran and a senator, and required accommodations due to losing her legs and being the first senator to have a baby while in office. These accommodations are reasonable for those individuals, but not for the entire senate. The discussion emphasized the importance of understanding the unique needs of individuals and providing accommodations accordingly, without extending them to the entire group.

    • Learning about money and finance through intriguing questionsThis podcast answers kids' questions about money and finance, covering topics like college accounts, unions, and the role of gold in the economy.

      The Money Wise for Kids podcast provides answers to intriguing questions kids have about money and finance. Each episode addresses inquiries like "What is a college account?" and "What are unions and what do they do?". Additionally, the podcast sheds light on intriguing topics such as the purpose of Fort Knox and the role of gold in the US economy. By tuning in, kids can expand their understanding of how money functions in the world around them. So, whether you're a parent or a curious kid, join the conversation on Money Wise for Kids and discover a wealth of knowledge!

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