Become a Patron! Last month, a funny thing happened: the yield on a 10-year US Treasury obligation dropped below the yield on a 3-month Treasury obligation. This bizarre financial market event attracted a lot of attention, even in the mainstream press, because such "yield curve inversions" have historically been correlated with economic recessions. Given the length of the … [Read more...] about Taking the inverted yield curve literally, not seriously
Become a Patron! Last week over at Travel is Free Drew wrote a very thoughtful post about his experience taking out long-term residential leases and then subletting them for short-term stays through a variety of platforms. The post has a lot of details on the various expenses and complications he encountered and is worth a close read if you're considering doing the … [Read more...] about So you’ve decided to invest in real estate!
Become a Patron! I started this blog because the more I learned about the personal finance industry, the more I saw the same problems that are pervasive in my other line of work in the travel hacking community: people are either paid to lie, or too ignorant to know if what they're saying is true or not. So, I figured I'd start a blog where I could tell people the … [Read more...] about Why can’t financial journalists give financial advice?
I have written a lot about 529 college savings plans, the grotesque transfer of millions of dollars of additional wealth to the richest people in the country, which were expanded and made even more valuable in the Smash-and-Grab Tax Act of 2017 when qualified "higher education" expenses were expanded to include up to $10,000 per year in tuition at private elementary and … [Read more...] about The least-understood benefit of the 529 scam
When Ronald Reagan needed to explain to the American people the outlandish claims of his voodoo economists, he would often reach back into his remaining intact memories of his first career, as a Hollywood star. Who could forget such iconic roles as "The Gipper," "The Gipper: Tokyo Drift," and of course "2 Gipper 2 Furious?" Reagan patiently explained to his lead-damaged … [Read more...] about Let’s all go to the movies