78 episodes
Economics Matters with Laurence Kotlikoff Economics Matters
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5.0 • 7 Ratings
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Economics Matters is a podcast hosted by Professor Laurence Kotlikoff, one of the most influential economists in the world, a Global Economics Advisor, NY Times Best Selling Author, President of Economic Security Planning, Inc., and Director of the Fiscal Analysis Center. In each episode, Professor Kotlikoff talks to experts about the power of economics in our modern day society. From personal finance and fiscal policy, to social security and income inequality, Economics Matters delves into much of the economic challenges of modern society.
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Learn to Build a TIPS Ladder from Kevin Esler -- the Creator of the Outstanding, Free Tool -- TIPSLADDER.COM
Take the guesswork out of financial decisions at every stage of life with Maxifi: https://maxifiplanner.com/. Designed by Economist Laurence Kotlikoff.
Professor Kotlikoff talks with Kevin Esler, the creator of tipsladder.com, a free website that helps you purchase TIPS -- Treasury Inflation Protected Bonds. Kevin is a retiree from Australia with an extensive background in software and technology, which he leveraged into a series of top software engineering jobs at a range of leading companies including IBM, HP, and Disney Plus. After moving to the US he settled into a series of roles that saw him specializing in evolving technology and software development. Kevin is uniquely positioned as an authority due to his multifaceted expertise in tech and finance, particularly in understanding and managing investment strategies involving Treasury Inflation-Protected Securities (TIPS).
Topics Covered:
Building a TIPS Ladder
Income from Maturing Bonds
Integrating Maxifi and TIPS ladder and the 2 compliment each other
Career Insights and Financial Security
Time Stamps:
00:00 Coupon payments and principal increase with inflation.
04:25 Kevin from Australia, retired, worked for Disney.
08:17 Joined Honeywell, fixed bugs, ended up staying.
10:54 Company values performance, career progression requires assertiveness.
16:44 Admiration for John Bogle, index fund investing.
19:51 Vanguard offers low-cost, diversified mutual funds.
23:45 Discretionary spending and living standard decline gradually.
26:18 Couple plans withdrawals from retirement and regular assets.
33:32 Reinvested returns, higher inflation, and tax implications.
36:17 Allocate savings over time to buy tips.
40:08 Government lacks TIPS for mature years 2035-2039.
43:32 Choose bond based on year and preferences.
47:39 Flexible income distribution option for annual streams.
51:02 "Reduce reinvestment risk when buying TIPS."
53:43 Integrating tipsladder.com with Maxify Planner, educating.
The valuable insights shared in this episode span both technical and financial planning realms, providing practical advice for retirees, tech professionals, and anyone interested in securing their financial future. Kevin's journey from tech savant to financial strategist illustrates the power of adapting one's skills to manage personal investments successfully. You'll walk away with the knowledge to build your smooth or time-varying TIPS ladder by purchasing from your broker the specific TIPS in the specific quantities that Kevin's tool suggests.
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Laurence Kotlikoff is a Boston University Economist, a NY Times Best Selling Author, President of maxifi.com, and Author of Money Magic.
Follow Professor Kotlikoff:
Facebook: kotlikoff
Twitter: @kotlikoff
LinkedIn: laurencekotlikoff
Substack: https://larrykotlikoff.substack.com/
Books: https://kotlikoff.net/books/
Company: -
The Devils Will Get No Rest -- James Conroy Talks About His New Book on the Roosevelt-Churchill Casablanca Conference that Produced the Short- and Long-Term Blueprints for Allied Victory Over Hitler.
Take the guesswork out of financial decisions at every stage of life with Maxifi: https://maxifiplanner.com/. Designed by Economist Laurence Kotlikoff.
Professor Kotlikoff talks with James Conroy, a distinguished author and historian with a diverse career background that gives him a unique voice in historical accuracy. He has served in the US Naval Air Reserve, excelled as a lawyer, and transitioned into writing award-winning history books. His latest work, "The Devils Will Get No Rest: FDR, Churchill, and the Plan That Won the War," delves into the pivotal Casablanca Conference and its significance in World War II. Conroy's meticulous research and engaging narrative bring to life the historical figures and the strategic decisions that shaped the outcome of the war.
Topics Covered:
The North African Campaign: Montgomery's Command and Patton's Role
The Casablanca Conference: Strategic Discussions and Personalities
Challenges of Historical Research: Primary Sources and Writing Process
Historical Parallels: WWII to Contemporary Geopolitical Conflicts
Timestamps:
00:00 Jim's written works, and notable books.
08:27 Transitioning careers from law to writing history.
13:29 The research, organization, and work of writing about historical events.
19:08 The American's and British plan of invading Africa.
22:49 The Allies' strategy to weaken German forces summarized.
30:00 FDR was open-minded and strategic in WWII.
37:19 The Casablanca conference's pivotal role in shifting history
39:18 Inquiry about North Africa campaign details.
44:41 Post-invasion rivalry between Montgomery and Patton.
54:03 The British deception operation in WWII to mislead Germans.
01:00:31 Emphasizing historical context and comparisons to current events.
01:01:46 Isolationism vs. intervention: the defining issue today.
In this episode, you will gain valuable insights into the complex and often under-appreciated dynamics of the Allied efforts in North Africa, learn about the intricate relationships and strategies discussed during the Casablanca Conference, and hear about the painstaking research that goes into writing a character-driven historical narrative. Jim Conroy offers a granular view of the personalities involved and the crucial decisions made, drawing parallels to contemporary issues in leadership and international politics.
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Laurence Kotlikoff is a Boston University Economist, a NY Times Best Selling Author, President of maxifi.com, and Author of Money Magic.
Follow Professor Kotlikoff:
Facebook: kotlikoff
Twitter: @kotlikoff
LinkedIn: laurencekotlikoff
Substack: https://larrykotlikoff.substack.com/
Books: https://kotlikoff.net/books/
Company: https://maxifiplanner.com/ -
David Walker, former Comptroller General of the United States, Talks Financial Insolvency, Policy Solutions, and Politics
Take the guesswork out of financial decisions at every stage of life with Maxifi: https://maxifiplanner.com/. Designed by Economist Laurence Kotlikoff.
Professor Kotlikoff sits down with David Walker, a former Comptroller General of the United States, acclaimed author, and esteemed voice in the realm of public finance and fiscal responsibility. David Walker's influential career spans government, the private sector, and academia. A notable figure in fiscal reform and sustainability, his insights are grounded in decades of experience and a deep commitment to public service—a drive shaped in part by his ancestors who participated in the American Revolution.
Topics Covered:
**Social Security and Medicare Reform**
**Fiscal Sustainability and Responsibility**
**Healthcare Reform Initiatives**
**Tax System Overhaul**
Time Stamps:
00:00 David's family history, service, and career achievements summarized.
08:48 Political system exacerbates the divide between ideologies.
14:09 Socialist programs lock the poor into poverty.
18:47 Massive tax hike needed to balance the budget.
26:30 China and India control 45% of world GDP.
30:20 Tough choices needed for spending and taxes.
37:47 Reforming tax system and benefits for equality.
40:44 Radical tax reform proposal prompts collective thinking.
52:28 Learn from history, improve education, teach responsibility.
57:52 Public money spent, liabilities not accounted for.
01:01:27 Public calls for changes in Social Security.
01:07:38 Leaders must engage for a better future.
You will find immense value in this episode, gaining a clearer understanding of the urgent fiscal issues facing the United States and practical, actionable solutions proposed by two leading experts. The discussion is not only a call to action but also an informative guide on how each of us can contribute to shaping the fiscal and economic future of the nation.
____________________________________________________
Laurence Kotlikoff is a Boston University Economist, a NY Times Best Selling Author, President of maxifi.com, and Author of Money Magic.
Follow Professor Kotlikoff:
Facebook: kotlikoff
Twitter: @kotlikoff
LinkedIn: laurencekotlikoff
Substack: https://larrykotlikoff.substack.com/
Books: https://kotlikoff.net/books/
Company: https://maxifiplanner.com/ -
Jeffrey Friedman, Dartmouth's Brilliant Political Scientist, Tells Us Why Presidential Machismo Wins Elections
Take the guesswork out of financial decisions at every stage of life with Maxifi: https://maxifiplanner.com/. Designed by Economist Laurence Kotlikoff.
Professor Kotlikoff is joined by Jeffrey Friedman, a renowned professor of political science at Dartmouth and the author of the pivotal book "The Commander in Chief Test." Jeffrey explains the nuanced intersection of foreign policy and presidential elections. His book beautifully synthesizes polling data, survey experiments, archival work, and voting behavior analysis from 1960 to the present, providing valuable insights into how foreign policy influences voters and shapes electoral outcomes. Jeffrey's depth of knowledge offers a rigorous examination of the personal traits voters prioritize in a commander in chief, making his perspective indispensable and incredibly timely as we find ourselves in the middle of the 2024 election cycle.
Topics Covered:
U.S. China Policy and Presidential Rhetoric
Historical Context of U.S. Global Power and Influence
Perceived Strength in Presidential Candidates
Impact of Rhetoric vs. Events on Election Outcomes
Time Stamps:
00:00 Kicking it off with monetary policy and public finance.
05:37 Jeffrey's Book explores foreign policy's impact on elections.
07:10 Assessing voters' view on leaders for presidency.
11:06 Kennedy gains trust on foreign policy, no promises.
13:32 Eisenhower's military spending declined, Kennedy promised more.
19:45 Analyzing Kennedy's rhetoric's impact on voter's choices.
21:56 Foreign policy shifts can sway presidential elections.
24:29 Johnson's actions to appear tough for votes.
28:11 Decisive action taken to control congressional debate.
33:16 Dukakis argues for sensible defense spending priorities.
36:04 Political questioning, Biden's approach and assertiveness.
41:22 Biden's political incentives in Israel-Gaza crisis.
43:04 Trump's unconventional stance on NATO exposes vulnerability.
46:51 Biden should defend his record against Trump attacks.
50:24 Long-term geopolitical trajectory: US, China, India.
53:11 Russia lacks power projection, US role shifting.
This episode is a treasure trove for anyone interested in the dynamics of political strategy and international relations. You will gain an understanding of how candidates' images on foreign policy shape electoral outcomes and influence U.S. foreign policy itself. The discussion covers long-term geopolitical trends and the recalibration of American power, reflecting traditional views from earlier administrations. This dialogue will leave you with a nuanced perspective on the political machinations involved in projecting strength on the global stage and allow you to consider the substantive implications of U.S. policy towards global players like China, Russia, and beyond.
____________________________________________________
Laurence Kotlikoff is a Boston University Economist, a NY Times Best Selling Author, President of maxifi.com, and Author of Money Magic.
Follow Professor Kotlikoff:
Facebook: kotlikoff
Twitter: @kotlikoff
LinkedIn: laurencekotlikoff
Substack: https://larrykotlikoff.substack.com/
Books: -
MaxiFi's Full Risk Investing Lets You See the Good, Bad, and Ugly from Risky Investing
Professor Kotlikoff delves into the intricacies of various investment strategies, ranging from conservative to aggressive stock-bond allocations, and how these choices can affect living standards. He highlights the significant differences between traditional financial planning and his own economic-based approach, and why it’s crucial to account for market fluctuations and adjust spending habits accordingly. You will get a deep dive into the Maxifi planner, and how this tool can be used to make smarter financial decisions, with its flexibility and wide application for users at all stages of life.
Topics Covered:
1. **Investment Strategies and Risk Management**:
2. **Economic-Based vs. Conventional Financial Planning**
3. **Maxify Maxwide Planner and Financial Tools**:
4. **Concept of Consumption Smoothing**
Timestamps:
00:00 investing and risk analysis.
07:09 Deterministic planning for maximizing investment with tax implications.
10:50 Economic planning: Smooth living standard, balanced spending.
14:45 Use case and example scenario.
16:04 Increased living standard, investing and converting trajectory.
19:59 Stock accumulation, Monte Carlo simulation, gradual withdrawals.
31:19 Investing in risk affects living standard outcomes.
33:51 Maintain spending in retirement without market dependency.
36:01 Risk aversion affects happiness in spending losses.
41:58 Investing involves risk and cautious spending.
44:14 Conventional planning may not be suitable.
This discussion is particularly valuable for anyone seeking to improve their financial decision-making processes. By incorporating insights from both economic theory and practical tools. You will walk away with the knowledge needed to take control of your financial future confidently.
____________________________________________________
Laurence Kotlikoff is a Boston University Economist, a NY Times Best Selling Author, President of maxifi.com, and Author of Money Magic.
Follow Professor Kotlikoff:
Facebook: kotlikoff
Twitter: @kotlikoff
LinkedIn: laurencekotlikoff
Substack: https://larrykotlikoff.substack.com/
Books: https://kotlikoff.net/books/
Company: https://maxifiplanner.com/ -
Economic Forecasts and Self-Fulfilling Prophecies with Paul Solman
Take the guesswork out of financial decisions at every stage of life with Maxifi: https://maxifiplanner.com/. Designed by Economist Laurence Kotlikoff.
This episode is from the archives, recorded in February of 2023. Professor Laurence Kotlikoff is joined by Paul Solman, renowned economics correspondent for PBS NewsHour and co-author of a New York Times bestseller. With a journalism career spanning over 38 years, Paul's expertise and experiences offer invaluable insights into the complexities of the economy and societal issues. His involvement with the American Exchange Project further underscores his commitment to fostering cultural understanding and bridging social divides in America.
Topics Covered:
Collective Pessimism and Economic Forecasts
The Role of the Federal Reserve: From Volcker to Powell
Behavioral Economics and Decision-Making
Economic Unpredictability and Historical Crises
Timestamps:
00:00 Paul's diverse career, PBS tenure, and American Exchange project.
05:58 Transition from teaching to journalism at Harvard Business.
14:06 Economists oversimplify models, limiting understanding of reality.
21:03 Economics and psychology shape decision-making process.
23:04 Understanding opportunity cost is crucial in life.
28:55 Climate change risk, intergenerational impact, irrational behavior.
37:38 Reflections on oil crisis and economics.
44:05 Interactions among people make world unpredictable, recursive.
52:11 Skepticism toward Paul Volcker's impact on inflation.
57:51 Expectations, inflation, and interest rates in economics.
01:06:11 Committed to American Exchange Project, bridging divides.
These discussions are not only intellectually stimulating but also practically valuable, especially if you seek to understand the intricate dance between economic predictions, policy decisions, and real-world impacts. Whether you're an economics enthusiast or simply curious about how these forces shape our everyday lives, this episode provides a nuanced perspective on the art and science of economic forecasting.
____________________________________________________
Laurence Kotlikoff is a Boston University Economist, a NY Times Best Selling Author, President of maxifi.com, and Author of Money Magic.
Follow Professor Kotlikoff:
Facebook: kotlikoff
Twitter: @kotlikoff
LinkedIn: laurencekotlikoff
Substack: https://larrykotlikoff.substack.com/
Books: https://kotlikoff.net/books/
Company: https://maxifiplanner.com/