Planet Money

Rising inflation is tightening wallets across the U.S. Ticket prices are skyrocketing due to reseller bots manipulating the market, causing frustration for fans and venues alike. Meanwhile, pet care costs have surged, driven by unique skills and rising expectations from pet owners, all explained by the Baumol effect. Veterinarians face increasing expenses that push prices higher. Insights into how private equity influences veterinary care show a changing landscape as owner bonding during the pandemic leads to willingness to spend more on pets.

Vicki Aguilar, an Oregon SNAP recipient, shares her personal struggles with the application process, highlighting how small mistakes can lead to significant errors in benefit distribution. The discussion reveals alarming new laws shifting SNAP costs to states based on payment accuracy metrics, potentially costing Oregon $250 million. As eligibility workers tackle these challenges with innovative tech solutions, Vicki underscores the real-life impact of these policy changes on vulnerable families, shedding light on the urgent need for accessibility and accuracy in crucial support programs.

Explore the puzzling surge in remittances from the U.S. to Central America amid an immigration crackdown. Discover how local banks are vying for money transfers and the impact of technology on sending funds. Dive into the reasons behind increased remittances despite fewer migrants and the role of fear as a driving factor. Hear about the economic implications for countries like Honduras, where remittances make up a significant portion of GDP, and consider the possible future decline and its consequences.

Michael O'Hare, a law professor at Marquette University, dives into the enigmatic Excessive Fines Clause of the U.S. Constitution. He discusses the case of Ken Jouppi, a bush pilot facing severe penalties due to a passenger's six-pack of beer. O'Hare explains how the Supreme Court's vague guidance complicates the definition of 'proportionality' in fines. The conversation highlights the economic implications of profit-driven forfeiture practices and their impact on justice. Ken's case could redefine how the law balances punishment and property rights.

Explore how TikTok developed its viral sonic logo to maintain brand unity amidst off-platform content sharing. Hear the fascinating process of creating a memorable audio identity, including debates over logo consistency and the accidental dog bark that became a signature feature. Discover the clever use of Sonic Stickers to stealthily introduce the brand's sound across the internet, leading to rapid recognition. The blend of science and art in sound design reveals the power of audio branding in today’s digital landscape.

This conversation features Michelle Vesey Bachman, a maritime intelligence specialist known for her insights into ship movements and shadow fleets. The discussion reveals how a network of old, reflagged tankers is smuggling Russian oil despite sanctions. Michelle elaborates on tactics like fake insurance and opaque ownership structures used to evade detection. The shadow fleet, now over 600 vessels, is reshaping global oil markets and poses environmental risks, creating a complex dilemma for maritime authorities.

Donna Shalala, a former U.S. Secretary of Health and Human Services and politics professor, shares her insights on the 1975 New York City fiscal crisis. She discusses how decades of financial mismanagement led to the brink of bankruptcy, causing chaos in public services like sanitation and fire departments. Shalala details the role of the Municipal Assistance Corporation in rescuing the city, the skepticism of investors, and the infamous federal response, encapsulating a historic struggle to stabilize NYC's finances.

Discover how the U.S. government borrows money through Treasurys and why they've long been viewed as safe investments. Learn about hedge funds diving into Treasury trades and the risks involved in their new market strategies. The podcast explores the mechanics of Treasury auctions and the role of primary dealers, shedding light on how market dynamics shifted after the 2008 crisis. Delve into the potential consequences of a sudden unwind in these trades and what that could mean for financial stability.

Explore the world of audio deepfakes as cybercriminals use AI to mimic voices, tricking individuals and banks into scams. Learn how banks bolster defenses against these threats, employing multi-layered security methods. Then, pivot to the stock market where reinforcement-learning trading bots, acting autonomously, may manipulate prices and even collude. Experts debate the complexities of intent and regulation in this evolving landscape. Discover how businesses can better prepare and educate themselves against these AI-driven risks.

Elan Lee, a game designer and co-founder of Exploding Kittens, joins the discussion about crafting a new economics-based board game. He shares insights on transforming creative economic concepts into engaging gameplay. The team explores unique mechanics like bluffing and partial information, revealing how minor tweaks can enhance both fun and educational value. Elan emphasizes the importance of balancing entertainment with economic principles, all while inviting listeners to playtest the prototype and contribute feedback for refinement.