We begin with a description of what cryptocurrency is, what are the risks and concerns. One reason why cryptocurrency is a popular topic of conversation is that they are viewed as investment vehicles. We discuss the implications of that. The other reason why cryptocurrency is often discussed is as a financial transaction which we also explore.
What is the purpose of the hearings that are the culmination of 18 months of investigation of the events around the insurrection on January 6th by the special commission. How much does bias play into the investigation? Are there similarities between the 2016 election and the 2020 election. Is it just a Democratic assault or are there Republicans working with the commission.
If you are interested, you can watch the video about the attack on the capitol that Brian and Colin referenced, here.
Link to the YouTube video.
Life can be busy, so this week, we don’t spend the time talking about one subject, but address a few topics related to previous or upcoming conversations. The first topic we discuss is a meta-topic, namely that we may feel that our perspective is not landing with the person we are talking with, but often they assimilate and incorporate our perspective. Cryptocurrency is back in the news and not for anything good. Value is plummeting and we spend a few minutes discussing some risks and concerns. The January 6th Commission is in the midst of presenting its conclusions, Brian & Colin discuss the concerns from both sides. The Federal Reserve increased base interest rates 0.75%. We spend a moment looking at biased language from the right and from the left and how we accuse the right of prejudice and overlook the same from the left. Lastly, we spend a moment talking about the difference in talking points of Ukraine from the right and the left which transitions into the financial cost of war and the risks of intervening.
Link to the YouTube video.
Brian & Colin discuss variations on our existing tax system. We look at how complex our existing system is and how we could massage the existing system that would be more beneficial to the citizens while ensuring that the government is funded to do the necessary business. We discuss progressive tax systems vs proportional tax. We discuss income tax vs sales tax. Instead of offering tax breaks, offering a guaranteed income at lower income levels. How does the tax system in the US compare to other countries.
Here is a link to the YouTube video
Do high taxes will disincentivize high income earners? There are examples that serve both arguments. At times, high tax rates were decreased and that increased tax revenue and there are other examples of increasing tax rates and that also increases tax revenue so it is a difficult problem to assess. Are tax-free municipal bonds a reasonable alternative? What are the unintended consequences of a high tax rate? Where will investors put their money in order to avoid high taxes? Are entrepreneurs motivated by the money or by the challenge of the business and the money is an indicator of that success?
Link to the YouTube video.
First we address what is the purpose of taxes. The obvious answer is that we use it to fund the government and provide service for tax payers. There are some out there that believe taxes can also serve a purpose of redistributing wealth. There are some people that speak clearly and often about taking money from certain very wealthy individuals. Others looks at idea of taxing the very wealthy as a method to compensate for an unfair tax system. We move the discussion toward different tax structures such as the fact that stock investments are taxed at a lower rate than regular income (capital gains tax). Does the company and the economy benefit by the lower tax rate? We also spend a bit of time talking about tax brackets and how a very high tax rate doesn’t always coincide with low tax revenue. In the last few minutes we talk about the disincentive of high taxes toward earning money.
Link to the YouTube video.
We look at gas prices at the pump, the baby formula shortage and also looking forward at future scarcities. First we break down the commodities market and how future contracts work. with regard to oil production how does statements from the government impact exploration and build-out. The baby formula scare is due to the fact that there are 3 companies in the U.S. that produce 90% and one company had the production facility shut down. The U.S. also restricts imports from other countries. Looking forward, wheat is probably going to be the next supply scarcity. How can we plan for it and are there things we could do to mitigate the problem.
Link to the YouTube video.
A short conversation about the value of face-to-face interaction because we are more polite. When we interact online, whether it is posts, comments or reviews, we are more inclined to use insulting, aggressive or confrontational language.
Link to the YouTube Video (static image)
Brian and Colin discuss the difficulty in identifying the truth. We tend to use our personal experience and ideology to decide whether we acknowledge or deny the value of some piece of information. The focus of this conversation revolves around the data on Hunter Biden’s laptop and whether it should be reported on. We cover the history of the laptop and why it was such a controversial topic in the news leading up to the 2020 election. We discuss why there was so much distrust about the story, why there was a strong backlash against those promoting the story and whether either view was valid.
Link to the YouTube video.
Returning to the old format of Brian & Colin discussing a topic, they take on the use of graphics in media, how it can help or distort. The motivation for the conversation came from a tweet that Colin shared that consisted of a chart showing the dramatic rise in median income globally and Brian took issue with it. Colin begins the conversation by addressing confirmation bias when we receive information from the media, both in affirming what we already believe and dismissing that which we don’t. Brian discusses the context of the information we receive and how we need to consider very carefully the medium which we want to give the message. Some media are better suited for different messages. They address how we treat content differently when we trust the provider or we don’t.
Link to the YouTube video.
Some of the resources that we addressed in the conversation:
The book: Factfulness by Hans Rosling
The blog: The Grump Economist – John Cochran
News source fairly balanced and slightly to the right: The Dispatch
The chart that we used in the beginning of the conversation:
