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Sunday links: money skepticism

Abnormal Returns

nytimes.com) Budgeting When you do the math, it's hard to find trillions to save in the federal budget. econbrowser.com) The Department of Veteran Affairs now makes up 5% of the federal budget. economist.com) No-limit vouchers are blowing a hole in the state of Arizona's budget. Just ask Norway.

Math 167
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Podcast links: thinking freely

Abnormal Returns

(podcasts.apple.com) Jim Pethokoukis talks the business of space with Matt Weinzierl, co-author of "Space to Grow: Unlocking the Final Economic Frontier." fasterplease.substack.com) Policy Stephen Dubner talks tax myths with Jessica Riedl, a senior fellow in budget, tax, and economic policy at the Manhattan Institute.

Budgeting 144
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5 Tactics for Retirees to Navigate Economic Uncertainty

MainStreet Financial Planning

Economic uncertaintywhether it’s due to market volatility, rising inflation, or potential recessionscan feel overwhelming. Here are five practical tactics to help retirees weather economic uncertainty: Take a Break from the News Constantly consuming news and social media can lead to unnecessary panic.

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3rd Quarter Economic And Market Outlook: Understanding Risks And Opportunities In The Web Of Inflation, Interest Rates, Valuations, And More

Nerd's Eye View

And even though numerous signs are pointing to the looming possibility of a more widespread economic downturn – including the reduction of household savings, reduced lending, and the resumption of student loan payments for many borrowers – the job market remains strong. And even though U.S.

Valuation 246
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Sunday links: playing your own game

Abnormal Returns

(humbledollar.com) Russia An increasing portion of Russia's budget is dedicated to fighting Ukraine. wsj.com) Policy What happens if the 2017 tax cuts lapse. wsj.com) Investing in ports has positive spillover economic effects. wsj.com) The economic schedule for the coming week.

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Collapse in Prospective Home Buyer Traffic

The Big Picture

The four largest drops occurred during distinct periods of economic distress: 1990 (recession), 2006-09 (GFC), 2020 (pandemic/recession), and today (FOMC 300 bp rate hike). This brings us to the chart: The one above shows the traffic of prospective buyers looking at a new home (2014- 2022); the one below goes back to the 1980s.

Budgeting 363
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The Greatest Missed Opportunity of Our Lifetimes

The Big Picture

As the Peterson Institute noted: In June, the Congressional Budget Office (CBO) projected that annual net interest costs would total $663 billion in 2023 and almost double over the upcoming decade, soaring from $745 billion in 2024 to $1.4 Note that this is not hindsight bias , but rather discussions we had repeatedly here in the mid-2010s.