Cardiff Garcia

Cardiff Garcia is a co-host of NPR's The Indicator from Planet Money. He joined NPR in November 2017.

Previously, Garcia was the U.S. editor of FT Alphaville, the flagship economics and finance blog of the Financial Times, where for seven years he wrote and edited stories about the U.S. economy and financial markets. He was also the founder and host of FT Alphachat, the Financial Times's award-winning business and economics podcast.

As a guest commentator, he has regularly appeared on media outlets such as Marketplace Radio, WNYC, CNBC, Yahoo Finance, the BBC, and others.

There's a warning sign for the economy with an amazing track record: The last five times it flashed, the U.S. economy went into recession within about a year.

This economic crystal ball takes the views of people and institutions from from all around the world and boils them down into a single, simple signal.

That signal is called the yield curve. It's not flashing now, at least not yet, but it might be close enough to make you nervous.

In 2013, Jackson Palmer started paying close attention to cryptocurrencies — bitcoin, and everything that came after. Things seemed a little bubbly.

Also big back in 2013: Doge, an Internet meme that featured an adorable dog and strange syntax.

Jackson sent off a random tweet about "Dogecoin" — just a throwaway joke. But one thing led to another, and Dogecoin became a real thing. Jackson tried to keep Dogecoin light and fun — it was for learning about cryptocurrency, and giving money to charity.

Then things turned dark.

Income inequality is rising. Over the past few decades, the rich have seen huge gains, while incomes for the middle class and the poor have largely stagnated.

Lots of people have ideas for how to get middle-class incomes growing again. On today's show: Branko Milanovic, one of the most insightful economists we know on this subject, says a lot of those ideas won't be that helpful in the 21st-century economy. He has some surprising ideas about what will.

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KELLY MCEVERS, HOST:

One of the things we do at the Indicator is steal stuff we like from other podcasts. Today, we're stealing from Tyler Cowen. He's an economist and public intellectual who has his own podcast (of course).

It's an interview show, and in the middle of every episode Tyler does this thing we love: He goes through a list of subjects and asks the guest to say whether each subject is overrated or underrated, and to explain why.

When Republicans launched their tax push this fall, they said, here's the plan: We are going to lower taxes for people and companies. And part of the way we're going to pay for that is by getting rid of loopholes and special deductions and lots of little perks hiding in the tax code.

Today on the show: What happened to that plan, and what it says about the way our tax code works.