Planet Money

The deal seemed too good to be true. There's a website that's been selling top quality diamonds at bizarrely low prices. Prices we couldn't find at any retail outlet. Prices so low, we could buy a diamond on a public radio budget. So we did. What we got in the mail was a tiny ziploc bag containing a scintillating mystery.

On today's show: the Planet Money Diamond (or whatever this sparkly rock turns out to be). We get it analyzed by the experts at the Gemological Institute of America. We investigate where it came from. And, we dive into the economics of glittery stones. Was this a new kind of internet scam? Some supply chain anomaly? Or is something just really weird going on in the world of diamonds?

This episode was produced by James Sneed. It was edited by Keith Romer with help from Jess Jiang, fact-checked by Emma Peaslee, and engineered by Kwesi Lee. Alex Goldmark is our executive producer.

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There's one statistic that rules them all when it comes to keeping track of the economy: gross domestic product (GDP). It's the sum of all final transactions, so all the goods or services bought and sold, in an economy. GDP tells us how hot the economy is running, or how cool — like if we might be heading into a recession. And it's an important tool to compare countries, policies, and politicians. It's used by the U.S. government to allocate money and by businesses to make decisions about the future.

For close to a century the building blocks of GDP have been the same. Now Commerce Secretary Howard Lutnick, has proposed a big change: taking government spending out of GDP.

On today's show, can the U.S. change how it measures GDP? We talk with a former head of the BEA — about what he thinks they're likely to do now, and about the pressure he faced while trying to compile GDP for nearly two decades. Turns out, people have always been trying to bend it to make whatever grand project they're working on look better.

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Note: This original episode ran in 2020.

Walter Schramm did everything right as an investor — at least according to the philosophy of Warren Buffett. So how come he lost a small fortune?

In this episode, we look into an obscure government program that slurps up forgotten money. We hunt for money we might have left vulnerable and we try to figure out how it got there in the first place so we can tell you where to find the money you've misplaced too.

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Tupperware is the stealthy star of our modern homes. These plastic storage containers are ubiquitous in our fridges, pantries, and closets. But the original product was revolutionary. So was its breakthrough sales strategy: the Tupperware Party.

Led in part by a charismatic housewife turned business innovator, Tupperware pioneered more than the party. Brownie Wise, and the company she came to represent, are behind a core sales technique that we might now recognize as influencer marketing.

The company was so successful at its peak, it reached almost cult status. But it didn't last.

On our latest episode: Tupperware's success and the company's demise. And how its descendants — in products, and in sales strategies — lived on.

This episode is in partnership with Decoder Ring. For even more on the legacy of Tupperware, listen to their full episode.

Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.

Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.

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If you cut every single federal job President Donald Trump wants to cut, how much money would that save?

A president has tried to massively shrink the size of the federal government before. It was in the 90s, under a Democrat.

Today on the show: Where they found waste the last time we really looked. (Hint: it wasn't jobs.) And why the pace of firings under Trump might start to slow down.

For more:
- Lessons for the Future of Government Reform
- Is government too big? Reflections on the size and composition of today's federal government
- Creating a Government That Works Better and Costs Less

This episode of Planet Money was produced by Willa Rubin. It was edited by Jess Jiang and engineered by Jimmy Keeley. We had fact-checking help from Sierra Juarez. Alex Goldmark is our executive producer. Special thanks to Ben Zipperer.

Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.

Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.

Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

Music: Audio Network - "West Green Road," "Raise Up," and "Blue and Green."

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