A review of how the pandemic, financial markets, and government policy evolved in 2020 to make for an unforgettable year. Topics covered include: Why the Covid-19 pandemic ranks as the second worst in modern historyWhat is the difference between risk and uncertainty and how our investing should be different when dealing with uncertaintyWhat portfolio changes did David make in 2020 and how should he have invested if he had perfect foresightWhy speculative assets such as gold and cryptocurrencies have performed so well in 2020Why high savings rate and pent up demand provides a tailwind for the economyHow to invest and live when the future is unknowable Thanks to Policygenius and LinkedIn for sponsoring the episode. Show Notes 286: Coronavirus and the Financial Impact of Pandemics 291: How To Survive the Coronavirus (COVID-19) Shutdown Madame Vivelda—Saturday Night Live What Is Risk vs Uncertainty?—Money For the Rest of Us Guide 299: Has the Pandemic Changed You? Personal Saving Rate—Federal Reserve Bank of St. Louis 302: Investing is Not Knowing 310: Why the Stock Market and Economy Are Rebounding So Quickly How 700 Epidemiologists Are Living Now, and What They Think Is Next by Margot Sanger-Katz, Claire Cain Miller, and Quoctrung Bui—The New York Times Paul McCartney Is Still Trying to Figure Out Love by David Marchese—New York Times Magazine For more information on this episode click here. Also, go here to learn more about Money For the Rest of Us Plus membership. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

How a nation's balance of payments impacts its currency exchange rate as evidenced by Turkey and other countries. Topics covered include: What is a nation's balance of payments, its current account, and its capital accountHow an individual's personal financial flows are similar to those of a countryWhat is causing the currency crisis in Turkey and LebanonWhy gold imports have increased by 150% in TurkeyWhat is the Triffin dilemma or paradox and how does it impact the United StatesWhat individuals can do to manage currency risks Thanks to The Great Courses Plus and Policygenius for sponsoring the episode. For show notes and more information on this episode click here. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.