Category: 3-EconSometimeCommentary

As people learn more about Donald Trump's pick for Treasury Secretary, Scott Bessent, one story comes up over and over: a legendary trade that he played a small part in while he worked at George Soros' hedge fund in the 1990s.

In 1992, Soros' fund set its sights on the British pound, betting that some time in the fall of that year, the pound would plummet in value. Opposing them in this trade was the Bank of England, which was determined to keep its currency stable. The financial battle that followed was intense and proved to be a watershed moment in the balance of power between markets and governments.

On today's show, we speak to Robert Johnson, a former managing director at Soros' fund, for a blow-by-blow account of those fateful days in 1992.

This episode was hosted by Keith Romer and Alex Goldmark. It was produced by Willa Rubin and edited by Martina Castro. It was fact-checked by Sierra Juarez and engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.

Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

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The dreaded data breach notification... It tells you your personal data's been compromised and suggests steps you can take to minimize the potential harm. On today's episode, Kenny Malone pulls out a data breach letter he received and goes over what it recommends with Amanda Aronczyk. Amanda recently did a show about the legal and illegal markets for data and tells us how useful these steps actually are. It's news you can use to protect yourself, whether or not you've been part of a data breach!

This normally would be a bonus episode just for Planet Money+ listeners. With this being the season of giving, we're sharing this one with everyone! To hear more bonus content like this, regular episodes sponsor-free, and support the work of NPR, sign up for Planet Money+ at plus.npr.org.

Related links:
Data Breach Response: A Guide for Business (FTC)
Have you been affected by a data breach? (FTC)
Your Technology Is Tracking You. Take These Steps For Better Online Privacy (Life Kit)
What happens after you get scammed? Can you get your money back? (Planet Money)
Firewalls Don't Stop Dragons (cybersecurity and privacy podcast)
DeleteMe (personal data removal service)
Experian (credit bureau)
TransUnion (credit bureau)
Equifax (credit bureau)

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The tradition of sending cards to loved ones was in decline — until it was rescued by a new generation. But millennials have their own ideas about what sentiments they want to convey. Zachary Crockett is thinking of you on your special day.

 

• SOURCES:
  • Mia Mercado, writer and former editor at Hallmark.
  • George White, president of Up With Paper and former president of the American Greeting Card Association.

 

• RESOURCES:
  • 34th Louie Awards - Finalists & Winners, (2022-2023).
  • "Season’s (and Other...) Greetings," by Maria Ricapito (Marie Claire, 2020).
  • "Hallmark Greeting Cards Have Adjusted to the Digital Revolution," by Trent Gillies (CNBC, 2017).
  • "Testimony of Don Hall, Jr. President and CEO of Hallmark Cards, Inc. Before a Joint Hearing of the Senate Subcommittee on Federal Financial Management, Government Information, Federal Services and International Security and the House, Postal Service and the District of Columbia" (2010).

You probably own a chair or a table or a sofa. And you probably think you know why you bought it. Because it was comfy. Or blue. Or the right price. But what if the style, the color, the cost, maybe even whether you would like it, were choices made for you years before you even thought about buying that piece of furniture.

Today on the show: The city that makes or breaks the furniture world. We travel to High Point, North Carolina and meet the people who make the bets – on whether or not you'll want that comfy blue couch.

This episode was hosted by Amanda Aronczyk and Erika Beras. It was produced by James Sneed with help from Willa Rubin. It was edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.

Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

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Welcome back to the series, Perspectives on Peace, hosted by Chris Coyne. The first four episodes of this series will focus on The Legacy of Robert Higgs (Mercatus Center, 2024) and will feature a collection of short interviews with many of the chapter authors.

This episode focuses on the military and health industrial complexes of Robert Higgs, featuring authors Nathan Goodman on “The Military-­Industrial Complex and the Militarization of Society”, Raymond March on “What About the Healthcare State? Robert Higgs's Contribution to Health Economics”, and Yuliya Yatsyshina on “The War Industry as Economic Cancer.” In their conversations, the authors share the impact Robert Higgs has had on their life and career and dive into a short summary of their respective chapters.

• Nathan P. Goodman is a Senior Research Fellow and Senior Fellow at the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at George Mason University. Nathan is an alum of the Mercatus PhD Fellowship.
• Raymond J. March is an Assistant Professor of Economics at Angelo State University.
• Yuliya Yatsyshina is an Associate Program Director for Academic & Student Programs at the Mercatus Center at George Mason University. Yuliya is an alum of the Mercatus MA Fellowship.

Learn more about Chris Coyne’s work as Director of the Initiative for the Study of a Stable Peace (ISSP).

If you like the show, please subscribe, leave a 5-star review, and tell others about the show! We're available on Apple Podcasts, Spotify, Amazon Music, and wherever you get your podcasts.

Virtual Sentiments, our new podcast series from the Hayek Program is streaming! Subscribe today and listen to seasons one and two.

Follow the Hayek Program on Twitter: @HayekProgram

Learn more about Academic & Student Programs

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CC Music: Twisterium

It’s unreactive, lighter than air, and surprisingly important to the global economy. Zachary Crockett goes up an octave.

 

• SOURCES:
  • Sophia Hayes, professor of chemistry at Washington University in St. Louis.
  • Phil Kornbluth, president of Kornbluth Helium Consulting.
  • Bo Sears, C.E.O. of Helix Exploration PLC.

 

• RESOURCES:
  • "Why Semiconductor Growth Will Drive Helium Demand," by Kitty Wheeler (Technology Magazine, 2024).
  • "The World Is Running Out of Helium. Here's Why Doctors Are Worried," by Caroline Hopkins (NBC News, 2022).
  • "Nothing on Earth Can Replace Helium — and It’s in Peril," by Joseph DiVerdi (The New York Times, 2019).
  • Selling the Nation's Helium Reserve, by the National Research Council (2010).
  • "Discovery of Helium in Natural Gas at the University of Kansas," by the American Chemical Society (2000).

 

• EXTRAS:
  • "Is Macy’s Thanksgiving Parade Its Most Valuable Asset?" by Freakonomics Radio (2024).

A couple years ago, Gina Leto, a real estate developer, bought a property with her business partner. The process went like it usually did: Lots of paperwork; a virtual closing. Pretty cut-and-dry. Gina and her partner started building a house on the property.

But $800,000 into the construction process, Gina got a troubling call from her lawyer. There was something wrong. At first, Gina thought the house had burned down. It turned out that the situation was... maybe worse.

On today's show: Buying land seems pretty secure, right? There's so much paperwork and verification along the way. But a messy system of how titles are sold, transferred and documented makes a perfect entry point for a new kind of criminal: Title Pirates.

Today's episode was hosted by Erika Beras and Jeff Guo. It was produced by Sam Yellowhorse Kesler. It was edited by Liza Yeager. Fact-checking by Sarah McClure. Engineering by Valentina Rodríguez Sánchez. Planet Money's executive producer is Alex Goldmark.

Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

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How did Florida International University’s new football stadium come to be named after the rapper and singer Pitbull? Adrian Ma and Wailin Wong of The Indicator from Planet Money explain.

 

• SOURCES:
  • Scott Carr, director of athletics at Florida International University.
  • Adrian Ma, co-host of The Indicator from Planet Money.
  • Wailin Wong, co-host of The Indicator from Planet Money.

 

• RESOURCES:
  • The Indicator from Planet Money

Mass deportations. What would actually happen—economically—if the President-elect follows through on promises to deport millions of people from America.

We don't have to guess.

Today we have two stories from Planet Money's daily podcast, The Indicator. First, the story from another time the US cracked down on immigration with the expressed intent of helping the economy. We look at how that worked out. And then we distill 20 years of research on immigrants and economic growth. What does immigration do for an economy? What types of immigration help? And who benefits?

Our most recent newsletter goes into more depth on some of this. Part one of two here. Subscribe to our newsletter here.

This episode is hosted by Adrian Ma, Darian Woods, and Wailin Wong. These episodes of The Indicator were originally produced by Cooper Katz McKim and Julia Ritchey, and engineered by Kwesi Lee and Maggie Luthar. They were fact-checked by Angel Carreras and Sierra Juarez. Kate Concannon is The Indicator's Editor.

Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

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Mannequins may be made out of plastic or fiberglass, but for retailers they’re pure gold. Zachary Crockett strikes a pose.

 

• SOURCES:
  • Stacie Bornn, vice president of sales, marketing, and creative at Fusion Specialties.
  • Judi Henderson, C.E.O. and president of Mannequin Madness.

 

• RESOURCES:
  • "How This Oakland Business Gives Mannequins New Life (Almost)," by Christopher Beale (KQED, 2024).
  • "Nike's Controversial Plus-Size Mannequin Is a Brilliant Business Decision," by Kate Taylor (Business Insider, 2019).
  • "A Glance at History of Store Mannequins," by Anne D'Innocenzio (AP News, 2014).
  • "Making a Fashion Statement, With or Without Clothes," by Elisabetta Povoledo (The New York Times, 2011).
  • "Stores Demand Mannequins With Personality (Heads Optional)," by Stephanie Clifford (The New York Times, 2011).
  • "Body Design, Variable Realisms: The Case of Female Fashion Mannequins," by Sara K. Schneider (Design Issues, 1997).