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Those who have borrowed money benefit from inflation though. If you have student loans or a mortgage, high inflation can work to effectively reduce how much you owe if salaries/wages go up with inflation.

Wealthy people own assets that keep up with inflation. They may have 10% in cash which doesn’t keep up with inflation but in general most of their holdings either keep up or outperform inflation. Poor people have wages that don’t keep up with inflation unless they start job hopping. The poor are typically more affected by inflation than the rich.

This reminds me of my neighbor who had recently retired and began a side business making furniture in his garage. He was just looking to make a little beer money, but his business grew quickly just through word of mouth and he was complaining to me that now it was more of a job than he had before he retired. He was thinking about shutting the whole thing down.

I've always thought this would be best. I recently saw signs instructing people to wait to merge in Duluth MN when I was visiting for work. People weren't abiding by the signs though and continued to behave in the normal random way they typically do when merging.

I remember seeing an article about a long term study of former participants of the show "The Biggest Loser." If I recall, almost all of them had gained the weight back and due to the extreme caloric restrictions they had placed on themselves during their time on the show the reduced their base metabolic rate significantly.

I'm waiting for an electric Toyota Tacoma. Meanwhile, I drive a Civic. It's not too bad, but it only gets 34.2 mpg (long term average) with 80% highway driving. I may need to review my driving habits though. I got used to 51 mpg with my Jetta TDI but they were cheating of course.

Apparently the president of the SIPC stated that Robinhood didn't contact the SIPC before making their announcement. The SIPC president Stephen Harbeck is on record saying that "SIPC protects cash that is deposited with a brokerage firm for one limited purpose... the purpose of purchasing securities. Cash deposited for other reasons would not be protected. SIPC does not protect checking and savings accounts since the money has not been deposited for a protected purpose."

He later stated that the SEC would need to take the lead on clarifying the matter though.

I have a one-year emergency fund with Robinhood that is invested in index funds (secondary emergency fund as the primary emergency fund is in cash). I think I'll keep my primary emergency fund in the PNC high yield savings account for now until all that gets worked out.

I've been listening to How I Built That with Guy Raz lately too. Also a good podcast. I spend a lot of time in my car so good podcasts help keep my sanity.

I came here to post that same link. It was an interesting Planet Money episode.

I wasn't familiar with Chandra. Just listened to a few songs. I think she sort of has a Siouxsie and the Banshees vibe. Now I want to go listen to Cities in Dust but it's too late for that today.

I agree. A financial guru I've listened to off and on for many years is Clark Howard and he suggests always using a financial advisor that you pay outright with fiduciary responsibility. His favorite recommendation is to talk to someone from the Garrett Planning Network. If you aren't paying upfront you are paying far more in bad investment advice that isn't designed to make you money. Think bad investments that offer kickbacks to your "advisor."

A few years ago I was watching a movie at my parents' house during a visit over the holidays and I noticed something wasn't right. I kept saying the video motion was strange and apparently nobody else thought anything was strange. When we paused for a drink refresh I played with the settings and found the clear motion which I turned off. Problem solved. Nobody else thought it looked any different.

Or in perpetuity it could be about 4% of 1.8B per year. Which is only 360 students per class though (assuming a 4 year scholarship). Maybe that's 360 kids that wouldn't have otherwise been able to go to Johns Hopkins.

I'm surprised there was no mention about insurance and billing requirements, etc.