The Financial Flipside Podcast Episode 24

We’re back, and we’ve come bearing gifts in the form of retooled format (including a new segment!). Join us as we recap a weird tax season, take a look at the storylines that emerged after the Treasury Department finally released data about who received PPP loans, and wrap up our discussion of economic indicators with a deep dive into the stock market. 

 

Do you have money, tax, or small business questions? Did you come across a finance-related news story that you’d like us to cover? Reach out to us at @financeflipside on all social media or email us: [email protected]. For questions, be sure to let us know whether or not you’d like us to answer on the show. To continue the conversation, join us over on Facebook in the Financial Flipside Group chat. You can also find videos, blog posts, and more interesting stories from the intersection of money and everyday life on our Twitter and Facebook pages, and on the website.

Mentioned in the episode: 

Flipping the News

 

The Journal of Accountancy’s summary of the Paycheck Protection Program loan data. 

From the Treasury Department: SBA Paycheck Protection Program Loan Data

Fortune magazine’s reporting on members of Congress receiving PPP funds, and The Huffington Post’s

From Marketwatch: Over 500,000 businesses got PPP loans but are listed as retaining zero jobs, Treasury Department data show
Up to 90% of minority and women owners shut out of Paycheck Protection Program, experts fear

From Quartz: PPP data errors show that 98% of exposed names used Bank of America

 

The Main Event

 

From Investopedia: The history and current composition  of the Dow Jones Industrial Average 

Also from Investopedia: What is the Nasdaq?

From The Balance: Understanding the S&P 500 

From Equitable Growth: Who benefits from the booming US Stock Market?

From Business Insider: 3 charts that show why $6 trillion dollars in coronavirus-induced stock losses won’t immediately impact most Americans.  

From the Associated Press: Some small businesses are changing their strategies due to coronarvirus, including holding off on seeking investors. 

Everything is Awful, So Why Is the Stock Market Booming? (NY Times)

The Economy is In Free Fall, So Why Isn’t The Stock Market? (Vox)

The Stock Market Has Almost Always Ignored the Economy (Washington Post)

When the White House first floated the idea of negative interest rates back in May, this NBC article looked at the possible effect on our wallets. 

How Robinhood Convinced Millennials to Trade Their Way Through a Pandemic (Marker)

Why increased profits don’t always mean more business investment (Equitable Growth)

Bonus: 

 

NPR explores a few theories explaning the stock market’s strong performance in the face of an economic downturn. 

Economists can’t agree whether or not negative interest rates make sense asreal-world economic policy. (CNBC)

Why the disconnect between the stock market and the rest of the economy is harmful for the vast majority of people. (In These Times)