Special Edition: Forty Trillion Dollars — What the National Debt Means for Your Household
In this special edition of Money Lessons, Andy takes the national debt's crossing of forty trillion dollars on August 18 and explains what the number is made of — the debt held by the public, and the money the federal government owes its own trust funds.
He shows why interest now takes eighteen and a half cents of every dollar the government collects, and why "we'll grow our way out" and "inflation will take care of it" are the same answer. Ray Dalio's three-percent deficit target anchors the arithmetic, and the 2026 Trustees Reports show where the pressure lands next.
Andy closes with what the debt means for your mortgage, your savings, and your benefits across three time horizons, and what you can do about it through three of the six jobs your money has.
Interest: The Price of Money
In this episode of Saturday Morning Muse, Andy discusses the concept of interest, exploring its fundamental role in economics as the price of time. He explains how interest rates are determined by factors such as inflation, real returns, and risk compensation. The discussion also covers the calculation of simple interest and the implications of understanding interest for personal financial decisions. Temte highlights the historical moral dilemmas surrounding interest and emphasizes its significance in modern economic systems.
The History of Paper Money
In this episode of Saturday Morning Muse, Andrew Temte explores the evolution of currency, starting from ancient Rome's coinage to the introduction of paper currency through promissory notes. He discusses the significance of these financial instruments in facilitating trade and their role in economic systems. The conversation also touches on the transition to fiat money and the implications of trust in currency value.
The History of Money & Inflation
In this episode of Saturday Morning Muse, Andrew Temte delves into the history of money, focusing on the evolution of coinage from ancient Rome to modern monetary policy. He discusses the significance of financial literacy, the role of governments in establishing trust in currency, and the implications of currency debasement and inflation. The episode concludes with a reflection on the responsibilities of modern central banks in managing economic activity.