Planet Money

Dive into the quirky world of recession indicators, where lipstick sales rise and babysitter buns make a comeback! Discover how social media shapes economic discussions and the unconventional signs that people are tracking. Learn about the SOM rule, which helps economists predict downturns through unemployment rates and yield curves. While exploring the emotional impacts of financial uncertainty, a humorous look at cultural shifts reveals that even in tough times, self-care remains essential.

Cara Dyer, a mechanical engineer and owner of Storytime Toys, shares her experience with the 145% tariff on Chinese imports. Although short-lived, this tariff wreaked havoc on many businesses, especially for those like hers who had goods stuck in transit. Cara discusses the staggering financial implications, including the challenges of sourcing materials domestically and navigating a chaotic supply chain. The episode paints a vivid picture of how sudden trade changes can leave long-lasting scars on the economy and everyday lives.

Explore the emotional journey of Iowa farmers as they face the harsh realities of trade wars. Dive into the ripple effects of the 2018 trade war with China, focusing on the plummeting exports of soybeans and pork. Discover how government interventions aimed to shield farmers from financial ruin, and reflect on the historical struggles of American agriculture. The podcast vividly captures the intricate dance of international trade and its profound impact on farming lives amidst mounting economic uncertainty.

Eswar Prasad, a Cornell University professor and former IMF economist, discusses the potential decline of the U.S. dollar as the global reserve currency. He explains what makes a reserve currency and the historical significance of the dollar. The conversation explores the challenges posed by alternative currencies like the euro and Bitcoin, and examines the implications for global finance if the dollar loses its dominance. Prasad highlights the importance of liquidity and market stability in maintaining the dollar's stature.

Maureen Thorson, a poet and international trade lawyer, blends art and law to explore the complexities of product origins. She reveals how 'Made in China' can be misleading, with products often having intricate global journeys. The discussion dives into the Substantial Transformation Test that determines a product's real origin, and the perplexing sticky note dilemma highlights the challenges of classification. Thorson illustrates how trade laws are not just legal jargon, but also shaped by philosophical nuances.

Finding a public bathroom can feel like searching for a needle in a haystack. The journey through the story of pay toilets reveals how a grassroots movement fought to abolish them, leading to unintended consequences. Challenges in maintaining public restrooms are examined, reflecting the struggle between urban policy and societal needs. Experts emphasize the crucial role of access to clean toilets for community health. Ultimately, the podcast highlights disparities in restroom availability and the ongoing quest for better facilities in urban settings.

Join a lively conversation as hosts vent about their shared frustrations as consumers. They tackle annoyances like excessive promotional emails and unrepairable products, all while uncovering deeper economic truths about customer satisfaction. The discussion takes a humorous turn when exploring the challenges of appliance repairs and the quirky world of coffee shop expectations. Plus, a revelation about how our happiness is impacted by modern consumer culture will leave you pondering your own spending habits.

Aunt Vovi's journey with 23andMe leads to unexpected revelations about ancestry, touching on the emotional weight of genetic data. As the company faces bankruptcy, concerns about privacy and the future of customers' data emerge. Discussion shifts to the complexities of consumer rights in data handling during financial crises. There's contemplation on the role of Chief Privacy Officers and the evolving landscape of data regulations. Listeners will resonate with the struggles of reclaiming privacy amidst the murky waters of corporate financial turmoil.

Tensions rise as President Trump criticizes Federal Reserve Chair Jerome Powell, threatening the central bank's independence. The discussion covers the Fed's complex role in balancing inflation and employment while maintaining monetary policy. Historical insights reveal how the Fed amassed power and its strategies during economic crises. With executive orders posing challenges, the podcast highlights the crucial need for the Fed to remain insulated from political pressure, ensuring stability in turbulent times.

Join a quirky exploration of an egg shortage as colleagues navigate innovative ways to distribute farm-fresh eggs without price gouging. From humorous backyard chicken antics to a playful survey assessing breakfast preferences, the podcast dives into the love for eggs and their true market value. Discover the fascinating Becker-DeGroote Marshak method, where participants hilariously evaluate their willingness to pay for eggs, blending economics with lighthearted fun and surprising insights into consumer behavior.