Unf*cking The Republic

The inflation numbers came out hotter than expected once again prompting many to think that the Federal Reserve will hike rates in December by 50 basis points. Is this episode, Max details what’s wrong with traditional thinking among economists and policymakers with respect to inflation and the neoclassical approach to managing it. This is the most complete breakdown of inflation we’ve done on UNFTR thus far because there is so much missing from the mainstream analyses. The Trump administration has painted itself into a corner with its destructive economic policies and Democrats are going to have their hands full putting things back together. Get involved with our Fall Fund, Friend, and Hell Raiser. Resources PBS News Hour: U.S. inflation report highlights strain of rising food, energy and housing costs Federal Reserve: The Economic Outlook and Some Thoughts on Labor Market Dynamism U.S. Bureau of Labor Statistics: Consumer Price Index Summary U.S. Bureau of Labor Statistics: Consumer Price Index for All Urban Consumers (CPI-U) U.S. Bureau of Labor Statistics: Consumer Price Index Summary Federal Reserve Bank of St. Louis: Consumer Price Index for All Urban Consumers: All Items in U.S. City Average Federal Reserve Bank of St. Louis: Employed full time: Median usual weekly nominal earnings (second quartile) Federal Reserve Bank of St. Louis: Average Hourly Earnings of All Employees, Total Private Federal Reserve Bank of St. Louis: Consumer Price Index for All Urban Consumers: Rent of Primary Residence in U.S. City Average Federal Reserve Bank of St. Louis: Average Amount Financed for New Car Loans at Finance Companies Federal Reserve Bank of St. Louis: S&P Cotality Case-Shiller U.S. National Home Price Index Bureau of Economic Analysis: Personal Saving Rate Federal Reserve Bank of St. Louis: Revolving Consumer Credit Owned and Securitized Federal Reserve Bank of St. Louis: Personal Saving Rate Federal Reserve Bank of St. Louis: Labor Force Participation Rate CNBC: Trump tells CNBC he can work with Dems on ‘many more things than people understand’ UNFTR Resources Video: Is Trump’s Economy Breaking Faster Than the Fed Can Fix It? Essay: Another Hot Inflation Print Lights Up The Consumer. -- If you like #UNFTR, please leave us a rating and review on Apple Podcasts and Spotify: unftr.com/rate and follow us on Facebook, Bluesky, and Instagram at @UNFTRpod. Visit us online at unftr.com. Become a member at unftr.com/memberships. Buy yourself some Unf*cking Coffee at shop.unftr.com. Visit our bookshop.org page at bookshop.org/shop/UNFTRpod to find the full UNFTR book list, and find book recommendations from our Unf*ckers at bookshop.org/lists/unf-cker-book-recommendations. Access the UNFTR Musicless feed by following the instructions at unftr.com/accessibility Intro music by Hold Fast.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

This week’s On The Record covers headlines from Hegseth’s impeachment and the end of the Cybertruck to Boebert’s loss and Jensen Huang’s affair. In Max Notes, Max addresses the so-called “Jewish question” in modern context and demonstrates how conservative organizations like AIPAC and the ADL made a huge mistake aligning with MAGA and the alt-right. Now that Trumpism is coming to an end and MAGA is splintered, it leaves Jewish Americans in even greater peril. KLTW goes to Bassem Youssef on Piers Morgan for elite level trolling of settlers in Gaza and Chart of the Week addresses global liquidity and the current business cycle. Chapters Intro: 00:00:39 Quick Takes: 00:01:21 Max Notes: 00:06:21 Killer Left Take of the Week: 00:20:47 Chart of the Week: 00:23:17 Memberships: 00:24:43 Outro: 00:29:16 Resources Good Morning America: Ole Miss student’s doorbell camera recording sparks outrage NBC News: Tesla to wind down production of Cybertruck Pondering Politics: BREAKING: Lauren Boebert LOSES election CBS Evening News: Nvidia probing CEO after he admitted to affair with alleged Chinese spy Bloomberg Television: Trump Backs Nvidia CEO After He Admits Affair The Strokes: Lonely in the Future MS Now: GOP Rep. Massie introduces EIGHT articles of impeachment against Hegseth Jacobin: End the Private Health Insurance Tax: Pass Medicare for All Forbes Breaking News: Zohran Mamdani Shares Message To Jewish New Yorkers After Midterm Elections 60 Minutes: President Donald Trump: The 2026 60 Minutes post-midterms interview Jonathan Weisman: (((Semitism))) Being Jewish in America in the Age of Trump Ze’ev Jabotinsky: The Iron Wall Shane Burley + Ben Lorber: Safety through Solidarity: A Radical Guide to Fighting Antisemitism Piers Morgan Clips: Bassem Youssef TROLLS Daniella Weiss On Israel Elections, West Bank Settlements Capital Wars Resources Video: On The Record 11-10-26 (What’s next for American Jews now that MAGA is dead?) Episode: The “Jewish Question.” Video: Trump’s Final Days Just Got More Dangerous. Video: Phone A Friend: Ben Lorber & Shane Burley -- If you like #UNFTR, please leave us a rating and review on Apple Podcasts and Spotify: unftr.com/rate and follow us on Facebook, Bluesky, and Instagram at @UNFTRpod. Visit us online at unftr.com. Become a member at unftr.com/memberships. Buy yourself some Unf*cking Coffee at shop.unftr.com. Visit our bookshop.org page at bookshop.org/shop/UNFTRpod to find the full UNFTR book list, and find book recommendations from our Unf*ckers at bookshop.org/lists/unf-cker-book-recommendations. Access the UNFTR Musicless feed by following the instructions at unftr.com/accessibility Intro music by Tom McGovern.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

Nick Hanauer of Civic Ventures and the Pitchfork Economics Podcast sits down with Max for a lengthy discussion on economic systems. For the past few years, Nick has worked closely with economists from around the world to develop a new framework called Market Humanism to fundamentally shift the current post-neoliberal paradigm toward something more beneficial for the masses and away from the one percent.  Resources Pitchfork Economics Podcast Civic Ventures Nick Hanauer’s Website Institute for New Economic Thinking Democracy: A Journal: Market Humanism: A New Paradigm for a New Era Markets Built for Humans Jacobin: Thomas Piketty’s Utopian Socialism Thomas Piketty: Capital in the Twenty-First Century Nick on Bluesky Nick on Facebook Nick on Substack UNFTR Resources Video: Phone A Friend: Nick Hanauer Transcript: Phone A Friend: Nick Hanauer -- If you like #UNFTR, please leave us a rating and review on Apple Podcasts and Spotify: unftr.com/rate and follow us on Facebook, Bluesky, and Instagram at @UNFTRpod. Visit us online at unftr.com. Become a member at unftr.com/memberships. Buy yourself some Unf*cking Coffee at shop.unftr.com. Visit our bookshop.org page at bookshop.org/shop/UNFTRpod to find the full UNFTR book list, and find book recommendations from our Unf*ckers at bookshop.org/lists/unf-cker-book-recommendations. Access the UNFTR Musicless feed by following the instructions at unftr.com/accessibility Intro music by Tom McGovern.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

After the initial post-election market gains, the stock market came crashing back down to earth with losses heavily concentrated in the tech center. The AI trade is coming under intense scrutiny and pressure with several states voting for moratoriums against new data center construction. Other factors like hyperscaler debt and cash flow issues, nebulous financing agreements, and slowing revenue growth from high profile companies like Anthropic are poisoning the AI investment narrative. And Donald Trump, one of its biggest proponents who has been blocking and tackling for the industry and giving it everything it asks for, was just hammered in the midterms. Resources Yahoo! Finance: Chipmakers Tumble Toward Worst Day In Years: Nvidia, Micron And Broadcom Down Over 8% CNBC: What was really behind Wednesday’s monster rally? Trump quickly making peace Bloomberg: S&P 500 Sinks 4% as AI Washout Rattles Wall Street: Markets Wrap Yahoo! Finance: Wall Street Selloff Sends Nasdaq Down 4% as Dow Plunges More Than 1,000 Points Bradenton Herald: Investors wipe $2.5 trillion off Nasdaq as blue tsunami prompts AI fears Compute Law Blog: Bonus depreciation for AI data center equipment The American Prospect: The Companies That Got $83 Billion in Tax Breaks Last Year The White House: Fact Sheet: President Donald J. Trump Accelerates Federal Permitting of Data Center Infrastructure investingLive: US government builds $30bn stock portfolio across 43 deals in chips, minerals and quantum Politico: ‘AI earthquake’: Democrats eye a Silicon Valley reckoning The Business Times: Alphabet shares fall after revenue miss, cash burn worsens CNBC: Alphabet sinks 10% as it holds 2026 capex unchanged, expects significant increase in 2027 SEC: Meta Reports Third Quarter 2026 Results CNBC: Amazon posts negative free cash flow of $42.4 billion, holds 2026 capex unchanged SEC: Oracle Announces Q1 Results Driven by Triple Digit Growth in Cloud Infrastructure Revenues FourWeekMBA: AI Weekly: Capex Outran Cash as Off-Book Bills Neared $4T SEC: Anthropic S1 Trading Economics: US 10-Year Yield Falls on Safe-Haven Demand Reuters: AI credit worries send default insurance to record high BBC News: These firms you’ve never heard of are feeding fears the AI bubble could burst FourWeekMBA: How Neoclouds Work: 6% Debt on Microsoft Rent, and 4 Risks Reuters: Trump lashes out at Fed after Warsh backs rate hike Mother Jones: Midterm Rout for Data Centers: Voters in Nearly 40 Towns Rejected Projects CNBC: Voters rebuff data centers in every ballot measure except one during the 2026 midterms 24/7 Wall Street: IREN Sinks 9% After Report Links It to Microsoft’s AI Spending Delay; Nebius Tumbles 11%, CoreWeave Slides 7% South China Morning Post: How Democratic sweep could slow AI growth in US – and help China’s ambitions State of AI: Is AI Data Center Debt the Next Subprime? Bisnow: Life Insurers Writing Riskier Loans To CRE, Setting Off Alarm Bells The New York Times: U.S. Pensions Are Riding the A.I. Wave. For Better or Worse. InvestmentNews: Democrats take Congress: what it means for your clients UNFTR Resources Video: Tech Stocks Crashed After the Midterms. Here’s Why. Essay: The Market Just Lost Its Sugar Daddy. -- If you like #UNFTR, please leave us a rating and review on Apple Podcasts and Spotify: unftr.com/rate and follow us on Facebook, Bluesky, and Instagram at @UNFTRpod. Visit us online at unftr.com. Become a member at unftr.com/memberships. Buy yourself some Unf*cking Coffee at shop.unftr.com. Visit our bookshop.org page at bookshop.org/shop/UNFTRpod to find the full UNFTR book list, and find book recommendations from our Unf*ckers at bookshop.org/lists/unf-cker-book-recommendations. Access the UNFTR Musicless feed by following the instructions at unftr.com/accessibility Intro music by Hold Fast.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

Join Max and 99 for a special midterm recap edition of Omnibus! Chapters Intro: 00:00:31 Midterms Recap: 00:01:35 Headlines: 01:11:12 Emails: 01:11:43 FFFHR: 01:18:08 Memberships: 01:31:02 Outro: 01:31:44 Resources Mother Jones: Voters Rejected the Political System the Supreme Court Created Mother Jones: The GOP’s Mid-Decade Gerrymandering Strategy Was an Epic Fail Common Dreams: After Blue Tsunami, Progressives Say ‘This Is a Mandate to Deliver Big Change’ Jacobin: Last Night’s Victories Were Made Possible by Zohran Mamdani UNFTR Resources Video: The Left Won Big. But So Did the Center. The Fight Ahead. -- If you like #UNFTR, please leave us a rating and review on Apple Podcasts and Spotify: unftr.com/rate and follow us on Facebook, Bluesky, and Instagram at @UNFTRpod. Visit us online at unftr.com. Become a member at unftr.com/memberships. Buy yourself some Unf*cking Coffee at shop.unftr.com. Visit our bookshop.org page at bookshop.org/shop/UNFTRpod to find the full UNFTR book list, and find book recommendations from our Unf*ckers at bookshop.org/lists/unf-cker-book-recommendations. Access the UNFTR Musicless feed by following the instructions at unftr.com/accessibility Intro music by Hold Fast.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.