Unf*cking The Republic

We’re only a day away from the New York City Democratic Primary for mayor and early voting turnout is the largest in years. No matter what happens, Zohran Kwame Mamdani has already won the race. Mamdani’s candidacy has galvanized the national media in a way that a local primary race has rarely ever done. CNN, MSNBC, Zeteo, Hasan Piker, MeidasTouch, Pod Save America, The Breakfast Club, Bulwark Podcast and, of course, UNFTR (ahem) have all featured Mamdani. In some ways, he might be even more popular as a national political figure among leftists than he is among New York City voters. We’ll find out in a matter of days. There are those, however, who see this race as an isolated case and in no way a bellwether in a broader political sense. They would be wrong.  Chapters Intro: 00:40 Post Show Musings: 00:19:10 Outro: 00:46:37 Resources The City: Who Votes the Most in New York? West Siders, Older People and College Grads POLITICO: Mario Cuomo was disappointed, 'homo' signs or not Zohran For NYC  Emerson Polling: New York City 2025 Mayoral Poll: Mamdani Surges into Second, Cuomo Holding Lead One Month Out Emerson Polling: New York City Mayoral Poll: Mamdani Catches Cuomo In Rank Choice Voting FairVote: Ranked Choice Voting UNFTR Resources Phone A Friend: Zohran Mamdani. Video: Zohran for NYC Mayor: The Democratic Socialist Taking Over Gotham Video: Zohran Mamdani Already Won: Leading the Race & the Way FMF Day Sale through June 30 -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

Trump is touting his new “Trump Accounts” plan as part of the Big Beautiful Bill Act. The plan would provide $1,000 to every baby born in America between 2025 and 2029 in a tax deferred account that allows matching each year of up to $5,000. It’s a way to encourage savings at a young age and works similar to the successful 529 education funds, but there are key differences. Today we dissect the plan and reveal how it’s mostly political theater. It’s another giveaway to Wall Street that increases inequality because of the way it’s structured. But there’s another reason why the GOP is so keen to pass this plan that has nothing to do with making babies rich, and everything to do with erasing entitlements. Access the episode resources. Resources Congress: H.R.1 - One Big Beautiful Bill Act MarketWatch Guides: How Much Is the Average American Saving? UNFTR Resources Pulling Apart the GOP Budget. Video: Why is Trump Giving Babies $1000 Just For Being Born? -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

Max and 99 return to answer Unf*cker emails, talk Discord episode topic suggestions, and cover current events. Enjoy! Chapters Intro: 00:00:20 Headlines: 00:09:10 Discord: 00:24:09 Emails: 00:59:40 Memberships: 01:36:38 Outro: 01:37:59 Resources FMF Day Deals Politico: Mamdani surges in new poll, leading Cuomo for first time in New York mayor’s race Video: Zohran for NYC Mayor: The Democratic Socialist Taking Over Gotham Maintenance Phase: The Bulletproof Diet AP: RFK Jr. is targeting ultraprocessed foods. What are they, and are they bad for you? Bryant Research: A Drop in the Bucket: Comparing the Water Footprint of AI and The Cattle Industry -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

Donald Trump overrode Governor Gavin Newsom to federalize the California National Guard to police the streets of Los Angeles. Protests over ICE’s deportation tactics are growing, prompting the Trump administration to leverage extreme authority over the protests, with Pentagon head Pete Hegseth warning that he will call in the Marines if necessary. All of this calls into question the limits of presidential authority in domestic civil disturbances and whether Posse Comitatus is still the law of the land. While it’s still on the books, it has been effectively gutted over the past 30 years by multiple administrations through procedural changes to the U.S. Code that have gone largely unnoticed.  Access the episode resources. Chapters Intro: 00:00:52 Chapter One: Defining Presidential Authority. 00:03:15 Chapter Two: Timeline to Total Authority. 00:09:45 Chapter Three: Handing the Keys to the “Fascist in Chief.” 00:16:08 Epilogue: De Facto Nullification of Posse Comitatus. 00:18:48 Post Show Musings: 00:21:01  Resources Public Intelligence: DoD Directive 3025.12 Military Assistance for Civil Disturbances (MACDIS) Department of Defense: DoDI 3025.21, February 27, 2013, Incorporating Change 1 on February 8, 2019 Gov Info: Federal Register, Volume 78 Issue 71 (Friday, April 12, 2013) Department of Defense: DoD Directive 3025.12  AP News: What to know about the protests over Trump's immigration crackdown in LA and other cities POLITICO: Newsom blasts deployment of National Guard to LA as ‘purposefully inflammatory’ TIME: Trump Sparks Backlash Ordering National Guard to LA Protests U.S. Code: Positive Law Codification Legal Information Institute: 19 U.S. Code § 1677 - Definitions; special rules U.S. Code: uscode.house.gov The New York Times: Newsom Criticizes Hegseth for Saying Marines Could be Mobilized in California Legal Information Institute: 18 U.S. Code § 1385 - Use of Army, Navy, Marine Corps, Air Force, and Space Force as posse comitatus Bonnie Baker: The Origins of the Posse Comitatus NPR: Trump expands military use at the southern border. Are there legal limits? UNFTR Resources Video: LA Protests: Is this the END OF POSSE COMITATUS? -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

According to the Bureau of Labor Statistics the United States added 139,000 “non-farm payroll jobs” in the month of May, 2025. These figures came in close to what experts projected and depending upon one’s ideological perspective, it was either evidence of economic strength and resilience under Trump or a sign of a slowing job market as a result of Trump’s tariff policies and economic uncertainty. What the mainstream media didn’t cover as much were the prior month revisions, or how the demographic shifts are artificially boosting labor participation numbers. With an economic slowdown on the horizon, AI already taking entry-level jobs, recent graduates having trouble finding employment, a quarter of the population participating in the gig economy and an aging population, there is trouble brewing. And some of it is already here. Access the episode resources. Resources Bureau of Labor Statistics: Employment Situation Summary - 2025 M05 Results Tulane: Importance of Data Collection in Public Health Common Dreams: Hitler’s First 100 Days — And Trump’s St. Louis Fed: Labor Force Participation Rate (CIVPART) St. Louis Fed: Labor Force Participation Rate - 25-54 Yrs. (LNU01300060) St. Louis Fed: Labor Force Participation Rate - 55 Yrs. & over (LNS11324230) AARP: Are the Last Boomers Ready for Retirement? CNN: AI company’s CEO issues warning about mass unemployment Gig Economy Data Hub: How many gig workers are there? US Census Bureau: Demographic Turning Points for the United States: Population Projections for 2020 to 2060 UNFTR Resources Iceberg. Dead Ahead. Building a Civilian Labor Corps: Bracing for the AI Job Apocalypse. 5NN Video: 2025 Jobs Data is Total BULLSH*T -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

We’re experimenting with something. As we work toward a complete breakdown of the federal budget in a comprehensive essay and companion episode, we’re bringing our audience into the content creation process. We have a feeling this is going to be one of our behemoth entries into the canon (and potentially a two-parter.) So rather than overwhelm everyone with information in one shot, we thought it would be useful to break it apart as we go. The first two entries made it to YouTube already but I’m packaging them up in a single episode today. The first is how the GOP budget disproportionately impacts red states. And not in a good way. The second brings us back to our Modern Monetary Theory (MMT) discussions and reframes the way we think about the national debt. Both are crucial building blocks in our understanding of the federal budget. Access the episode resources. Chapters Intro: 00:00:36 Red State: Fucked. 00:01:30 We Solved the Debt Crisis: 00:06:39 Post Show Musings: 00:21:49 Outro: 00:25:05 Resources Congress: H.R.1 - 119th Congress (2025-2026): One Big Beautiful Bill Act Bipartisan Policy Center: Federal Balancing Act White House: Fiscal Year 2026 Discretionary Budget Request Jacobin: Trump’s Budget: Starving Everything Except the Military Bloomberg Television: Millstein on US Downgrade, Tariffs, Trump Tax Bill PBS News: What’s inside the House GOP’s budget bill? Here’s a look Congress: H.Con.Res.14 PGPF: Chart Pack: The U.S. Budget PGPF: What Is Budget Reconciliation? The Conference Board: Reforming the Broken Federal Budget Process  NACO: U.S. House passes reconciliation bill: What it means for counties  Bipartisan Policy Center: What’s in the FY2025 Senate Budget Resolution Georgetown CCF: Medicaid and CHIP Cuts in the House-Passed Reconciliation Bill Explained  Reuters: US Treasuries: Who owns US debt? UNFTR Resources Modern Monetary Theory. Stock Buybacks Surge. Updated Tax Evasion Figures. Video: GOP Spending Bill is a Red State Bloodbath Video: Big Bullsh*t Bill adds $2.4 trillion to National Debt 5NN -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

How much credit risk is in the market? Equities get the headlines but the world runs on credit. Jamie Dimon recently declared that credit was a “bad risk” on the heels of Moody’s downgrading the U.S. credit rating and a spike in the 10 Year Treasury yield. Suddenly, the boring old credit and bond markets are all the rage on the financial news channels, and it goes much deeper than treasuries. Today’s episode examines the scope of the global credit market and unpacks the difference between the systemic threat posed in the global financial crisis (GFC) and the looming credit crisis today. And, it shows how the big corporations prepared for the gathering storm by rewriting the rules of the game after the GFC. The big guys are fairly insulated from any sort of looming credit shock, but the rest of us are pretty much toast. Access the episode resources. Chapters Intro: 00:01:00 Post Show Musings: 00:28:25 Outro: 00:33:39 Resources Moody’s: Moody’s Ratings downgrades United States ratings to Aa1 from Aaa; changes outlook to stable Federal Reserve Bank of New York: Household Debt and Credit Report Federal Reserve Bank of New York: The Labor Market for Recent College Graduates Coleman Report: Small Business Loan Defaults Expected to Peak Next Year Offshoring Lincoln International LLC: Q1 2025 Lincoln Private Market Index™ Investopedia: Payment-in-Kind (PIK): What It Is, How It Works, Pros and Cons Axios: Americans are behind on car payments at a record level MBA: Mortgage Delinquencies Increase Slightly in the First Quarter of 2025 HBR: U.S. Commercial Real Estate Is Headed Toward a Crisis  J.P. Morgan Private Bank U.S.: Municipal Bonds: Back in the Spotlight U.S. Department of the Treasury: Treasury International Capital Data for March Everything Policy: Where are the key Panama Papers figures, seven years later? Secondaries Investor: Yale sells up to $6bn of its PE portfolio amid federal funding challenge NBER: The Offshore World According to FATCA: New Evidence on the Foreign Wealth of U.S. Peter Lang Publishing: Hip Hop Can Save America! UNFTR Episode Resources The U.S. Dollar and 10 Year Treasury. Updated Tax Evasion Figures. Video: Credit Risk: The looming U.S. Credit Crisis UNFTR 5 Non-Negotiables -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

Pete Buttigieg is a legitimate star in the Democratic Party. Having moved his family to Michigan there was speculation that he might run for the governor’s office or become a Senator. But he turned down both options and instead set his sights on the 2028 Presidential election. In addition to making the rounds on multiple cable shows and podcasts to help rehabilitate the image of the Democratic Party, he recently held a massive town hall in Iowa, where he was victorious in the 2020 Caucus. But who is Pete Buttigieg and why do so many people consider him a frontrunner for the Democratic ticket in ‘28? His experience as a small city mayor and single term as Transportation Secretary in the Biden Administration would still make him one of the least experienced candidates in U.S. history. So why all the attention? Resources Win The Era PAC Washington Examiner: Buttigieg high school essay praised Sanders as courageous for calling himself ‘Socialist’ UNFTR Resources Video: The Case AGAINST Buttigieg in 2028 -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

Corporations announced a staggering $233.8 billion in stock buybacks in April, the second-highest monthly total ever recorded. But unlike previous buyback bonanzas, this isn’t a sign of economic strength or corporate confidence. Quite the opposite. Are buybacks just one big shell game or are they fiscally prudent? Corporate stock buybacks have inspired great debate since a Reagan era tax law change and a Clinton era deal sweetener. On the one hand they have enriched shareholders and made executives extremely wealthy. On the other hand, the growth in buybacks mean companies aren’t investing in innovation, workers, or expansion. Let’s talk about it. Resources Longtermtrends: S&P 500 PE Ratio FRED: Quarterly Financial Report: U.S. Corporations: All Information: Total Cash on Hand and in U.S. Banks BNN Bloomberg: Corporate America plans record stock buybacks as turmoil mounts – BNN Bloomberg Bipartisan Policy Center: How the U.S. Taxes Stock Buybacks and Dividends Congress.gov: Stock Buybacks: Concerns over Debt-Financing and Long-Term Investing Federal Reserve Bank of Boston: The Great Leverage 2.0? A Tale of Different Indicators of Corporate Leverage Penn Wharton: Raise the Excise Tax Rate on Stock Repurchases Skadden, Arps, Slate, Meagher & Flom LLP: Newly Proposed Regulations on Stock Buyback Excise Tax Largely Adopt Approach From Initial IRS Guidance The New Republic: Bill Clinton Created This Terrible Corporate Loophole. Will Hillary Close It? ProPublica: The Executive Pay Cap That Backfired Harvard: Short-Termism And Capital Flows Roosevelt Institute: Regulating Stock Buybacks: The $6.3 Trillion Question ICIJ: The Panama Papers: Exposing the Rogue Offshore Finance Industry -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

Crude Oil tanks as OPEC+ floods the market with product. Russia and Saudi Arabia just did the unthinkable by announcing that they’re increasing output by 411,000 barrels per day starting in June. With demand forecasts going down every day as the world braces for a Trump induced global recession, it’s the exact opposite move from what everyone expected. This episode tackles what this means for the economy, the future of energy, Trump’s tariff gambit, inflation and unemployment.  Access the episode resources. Resources OPEC OilPrice.com U.S. EIA: Advances in technology led to record new well productivity in the Permian Basin in 2021 EnergyNews: OPEC maintains its forecast for oil demand growth in 2025 and 2026 Reuters: US agrees to sell Saudi Arabia $142 billion arms package Responsible Statecraft: Lobby Horse: Trump’s ‘trillion dollar' visit to Saudi Arabia Deloitte: 2025 Renewable Energy Industry Outlook World Economic Forum: 5 trends shaping the energy world in 2025 AInvest: JPMorgan Cuts 2025 Oil Price Forecasts 12% on Weak Demand, OPEC+ Output ExxonMobil: ExxonMobil Announces First-Quarter 2025 Results Reuters: OPEC output hikes, trade wars have US oil producers wary of 'drill baby drill' Trading Economics: United States Exports By Category St. Louis Fed: Breakeven Fiscal Oil Price for Saudi Arabia (SAUPZPIOILBEGUSD) UNFTR Episode Resources Peak Oil: It's a Crude, Crude World. Bitcoin & Crude Oil. The Energy Independence Myth. Iceberg. Dead Ahead. Video: Oil Prices TANK as OPEC Floods the Market -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

Is this the end of Capitalism? If so, what comes next? Does it even matter what we call it? Today Max pauses to reflect on the speed and totality of damage wrought by the Trump administration, and whether it’s bringing about the end of Capitalism on purpose in order to return to a state reminiscent of the industrial era when the working class lived to serve the elite and the poor thrown to the streets. Resources Marketplace: Higher income Americans drive bigger share of consumer spending Book Love Jacob Riis: How the Other Half Lives UNFTR Resources YouTube: The End of Capitalism: What comes next is worse. YouTube: Phone A Friend: Yanis Varoufakis -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

Max and 99 return from their Show Notes hiatus to discuss the 5 Non-Negotiables, global events, and share some genuinely insightful tangents (for a change lol). Enjoy! Chapters Intro: 00:00:21 Discord Comments: 00:06:46 5NN: 00:10:04 Emails: 00:33:34 Memberships: 01:58:40 Outro: 02:01:41 Resources Only 3 days left in our Spring Fund, Friend, and Hell Raiser! Become a member today. Subscribe to the YouTube Channel. Visit our 5NN homepage. Save PBS and NPR! Unf*cker Recommendations Sarah Smarsh: Heartland: A Memoir of Working Hard and Being Broke in the Richest Country on Earth Timothy Snyder: On Tyranny Graphic Edition: Twenty Lessons from the Twentieth Century Jason Stanley: How Fascism Works:The Politics of Us and Them Ilan Pappe: A Very Short History of the Israel–Palestine Conflict Sayash Kapoor + Arvind Narayanan: AI Snake Oil: What Artificial Intelligence Can Do, What It Can't, and How to Tell the Difference -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

Market speculation into commodities like Bitcoin and Crude oil pose dangerous risks during the best of times. Heading into a recession, the stakes are even higher. The temptation to participate during volatile periods is a psychological phenomenon that takes hold among casual investors who rarely realize when they’re part of an institutional con. When leveraged institutions are in desperate need of liquidity they’ll stop at nothing to game the system. In this episode, Max offers a cautionary tale of speculative behavior in the crude oil markets during the financial crisis that very few people even know about. He then connects it to the dangers posed to investors who dabble in digital currencies like Bitcoin, especially under a pro-crypto Trump administration. Access the episode resources. Resources Forbes: ‘Worse Than 2008’—Bitcoin Price Braced As Billionaire Ray Dalio Warns Of ‘Monetary Order Breakdown’ Forbes: ‘Big Catalyst’—Serious Fed Warning Spurs Huge BlackRock Bitcoin Price Prediction NPR: What to know about Trump's 'crypto strategic reserve' plan Yahoo Finance: Donald Trump’s 29-year-old crypto guru lays out the president’s plans for regulating crypto and rolling back a Biden-era crackdown Pillsbury Law: Trump 2.0: A New Era for the Regulation of Cryptocurrency and Digital Assets SDLC Corp: Stablecoins: Characteristics, How They Work, Functionality, and Use Cases Bitpanda Academy: Meme Coins: Definition & Characteristics St. Edward’s University: What Are the Exchange Coins The Digital Chamber: Why is Bitcoin a Commodity? Investopedia: Is Crypto a Commodity? What It Means, Examples Book Love Dan Dicker: Oil's Endless Bid: Taming the Unreliable Price of Oil to Secure Our Economy Emily Lambert: The Futures: The Rise of the Speculator and the Origins of the World's Biggest Markets Peter Maass: Crude World Leah McGrath Goodman: The Asylum: Inside the Rise and Ruin of the Global Oil Market UNFTR Episode Resources Peak Oil: It’s a Crude, Crude World. The U.S. Dollar and 10 Year Treasury: Why Economists Are Freaking the F*ck Out. -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

There’s a hidden market that might crash the economy in 2025. Tariff chaos. Leverage in the Repo Market. A burgeoning liquidity crisis. There’s an iceberg, dead ahead, only we can’t see below the surface to know how big it is. In this episode Max takes a big swing at the existential crisis brewing in the financial markets. Trump’s tariffs, declining economic data and slumping global demand will potentially neutralize half of the Fed’s crisis response arsenal. The logical and expected response to what is shaping up to be a catastrophic summer is the “Fed Put.” In other words, another bailout. But if the Fed looks to expand its balance sheet to accomplish this during a liquidity crisis, will the buyers of U.S. debt show up? Inflation and a weak dollar, frayed nerves in the bond market and more reckless behavior coming out of the White House could cause a run on the big banks and other firms that live in the “shadow repo” market leaving the Fed balancing the world on its shoulders. Access the episode resources. Resources Apollo Global Management: How are US consumers and firms responding to tariffs? LendingTree: BNPL Tracker: 41% of Users Late in Past Year The Fed: What Happened in Money Markets in September 2019?  Brookings Papers on Economic Activity: Treasury Market Dysfunction and the Role of the Central Bank -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

This is how we win. This is the closing argument of the project to build the foundation of the people’s platform and take over the Democratic Party: The 5 Non-Negotiables of the Left. Three to earn the trust of the American people to win back the country, and two to salvage our democracy and our planet. The Trump administration is the culmination of a 70 year neoliberal plan to divide the population and place the wealth of the nation and levers of power into the hands of the few. The dystopian doctrine that drives this agenda is rooted in fear born from economic precarity. As such, the opposite holds true as well. Everything positive is attainable when a population lives in economic security and has satisfied the most basic human needs. We need a politics centered on achieving this goal before we can broaden our horizon. To accomplish this we have to use the tools at our disposal, which means we have to take over most functional political apparatus available: The Democratic Party. Our contribution to this plan is simply to provide structure and clarity. This is how we win. Access the episode resources. Chapters Intro: 00:00:30 Non-Negotiable #1: 00:26:16 Non-Negotiable #2: 00:28:14 Non-Negotiable #3: 00:30:04 Non-Negotiable #4: 00:31:59 Non-Negotiable #5: 00:33:56 The People's Platform: 00:36:22 Get Involved: 00:37:50 UNFTR Episode Resources Housing First: Non-Negotiable #1. Building a Civilian Labor Corps: Bracing for the AI Job Apocalypse: Non-Negotiable #2. Medicare for All: Non-Negotiable #3. Election Integrity: Getting Money Out of Politics: Non-Negotiable #4. Climate Action: Non-Negotiable #5. -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

We have a special edition of Show Notes today! In a rare occurrence, Max, Manny and 99 were all in the same place and they took to the mics to mark the occasion. Enjoy! -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

Are there hidden market patterns that signal massive economic change? A weak dollar and rising yield on the ten year treasuries sent Wall Street into panic mode over fears that Trump was torching the global economy with his tariff wars. Since 1945 the U.S. dollar has been the bedrock of the global economy. Trump’s reckless behavior has allies and enemies alike wondering if this is the end of U.S. hegemony in the world. Last week when the dollar and ten year treasury yield briefly split, the global bond market suddenly came into focus and was on everyone’s radar. This episode boils down the jargon to explain what’s going on and why everyone freaked out. Ultimately, while we may not tear down the global order, there’s no question that we won’t restore faith in the U.S. Dollar and economy until Trump is out of office. Access the episode Show Notes. Resources Compound Real Estate Bonds: Bond Vigilantes: Definition, Role & Impact on Markets EWA: The Relationship Between US Dollar Index and US 10 Year Treasury Bond Investopedia: Bonds: Treasury Yields and Interest Rates CNBC: Investors are growing concerned about a U.S. asset exodus as Treasurys and the dollar decline Privalgo: The relationship between bond yields and currencies ScienceDirect: International capital flows and U.S. interest rates St. Louis Fed: Nominal Broad U.S. Dollar Index (DTWEXBGS) St. Louis Fed: Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity, Quoted on an Investment Basis (DGS10) Darden Report Online: What the Sell-Off in Treasuries Means for Your Mortgage The Washington Post: Fact Check: Has Trump declared bankruptcy four or six times? -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

We have a cool one for you today, a conversation with New York City mayoral candidate Zohran Mamdani. Currently, Mamdani is a member of the New York State Assembly. He’s a Democratic Socialist running in the Democratic primary against a pretty busy slate of contenders, and he’s polling second to former Governor Andrew Cuomo, who only recently entered the race. Now Mamdani was the first candidate to hit the fundraising threshold for city matching funds—setting it in record time—and doing it primarily through small dollar donations. His campaign is extremely organized, and it’s galvanized New Yorkers in every borough with a stunning clarity of message. Now, in many ways, to us, at least, Zohran has captured the zeitgeist as it feels like his campaign is a proxy for the discontent felt not just in urban areas, but throughout the country. So it’s our great pleasure to welcome to the show Zohran Mamdani. Resources Zohran for NYC Website Zohran on Facebook Zohran on Instagram Zohran on TikTok Zohran on Bluesky UNFTR Resources Watch the interview on YouTube. Access the transcript. -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

Probably the scariest, most dreaded term in economics is stagflation. Those who lived through the crisis in the 1970s can attest to this. In short, stagflation is defined as a period of low-to-no economic growth combined with high unemployment and high inflation. It’s a deadly recipe that took extraordinary measures to break the last time we experienced this phenomenon, and the method used back then is still highly contested territory. If you’ve heard the term more often in recent months, it’s because some economists are beginning to fear a resurgence of stagflation due to the policies of the Trump administration. So today we’re doing a very deep dive into the economy to discuss the differences between now and the crisis of the ‘70s and show how Trump might be singlehandedly pushing us into an entirely new and preventable stagflation crisis. Access the Show Notes online. Chapters Intro: 00:01:00 The Phillips Curve: 00:03:34 Unemployment and Labor: 00:17:18 Trump's Conundrum: 00:20:05 Time to Rewind: 00:24:53 Lessons and Insights: 00:30:19 Post Show Musings: 00:42:28 Outro: 00:54:13 Resources Investopedia: What Is Stagflation, What Causes It, and Why Is It Bad?  The New York Times: Strong Dollar vs. Weak Dollar Office of the Historian: Oil Embargo, 1973–1974 Federal Reserve History: The Great Inflation NBER: The Nixon Shock after Forty Years: The Import Surcharge Revisited Douglas A. Irwin Working Paper 17749 FRED: Personal Saving Rate FRED: New Privately-Owned Housing Units Started: Total Units FRED: Consumer Price Index for All Urban Consumers: Food in U.S. City Average BIG by Matt Stoller UNFTR Episode Resources Housing First: Non-Negotiable #1. The Energy Independence Myth. Building a Civilian Labor Corps: Bracing for the AI Job Apocalypse. Non-Negotiable #2. The Global Order of Money: How Exactly Does It Make the World Go ’Round? -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Buy yourself some Unf*cking Coffee at shop.unftr.com. Check out the UNFTR Pod Love playlist on Spotify: spoti.fi/3yzIlUP. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

Fresh off the heels of our fifth and final Non-Negotiables of the Left series, 99 and I spent some time in the studio reviewing feedback from the UNFTR audience. While I stomped my feet like a toddler, 99 was able to finally get me under control and a productive conversation ensued.  The upshot is that the feedback was fairly muted, with most of you signaling that the Climate Trust is out of step with the other four Non-Negotiables. While I stand by the concept of Social Security for the planet and the funding mechanism behind the idea, I hear you. In the consolidated episode that will serve as the baseline for our curriculum moving forward, I’m making notes and adjustments to improve this perspective.  Chapters Intro: 00:00:20 Emails + Comments: 00:16:25 Memberships: 01:23:13 Outro: 01:25:42 Resources Spring Fund, Friend, and Hell Raiser: Become a UNFTR Member or donate today, and subscribe to us on YouTube The Ezra Klein Show: Democrats Need to Face Why Trump Won UNFTR Episode Resources The Climate Trust: Non-Negotiable #5. UNFTR Non-Negotiables. A (Mostly) Vegan World. -- 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, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Buy yourself some Unf*cking Coffee at shop.unftr.com. Check out the UNFTR Pod Love playlist on Spotify: spoti.fi/3yzIlUP. 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. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99. Podcast art description: Image of the US Constitution ripped in the middle revealing white text on a blue background that says, "Unf*cking the Republic."Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.