Josh Barro and Jonathan V. Last: The Patriotic Cowboys Wrecking Our Economy
Summary
Josh Barrow and Tim Miller discuss Trump’s plummeting approval ratings, rising interest rates, and the Fed’s policy challenges, noting that persistent inflation and strong employment justify potential rate hikes. They analyze the Supreme Court’s tariff ruling, the president’s confusion over monetary policy, and the bipartisan permitting reform deal aimed at accelerating energy infrastructure. Later, JVL joins to explain why oil prices remain elevated despite the Strait of Hormuz reopening, citing depleted strategic reserves, China’s import shifts, and a massive spike in shipping costs that …
Topics discussed
Intro: Guest Josh Barrow and Fire Island internet outage
Show notes: Red state Democrat candidates and JVL newsletter
Josh Barrow's hair transition and self-actualization
White House accountability: Staff Secretary and poster holder
Jack Smith, Trey Young, and the general counsel's role
Trump approval ratings drop below Bush levels
Economic comparison: Trump 1.0 vs 2.0 and Treasury management
Energy costs, diesel prices, and political blame games
Historical energy shocks and the fracking boom
Global interest rates: Fiscal deficits and AI investment demand
Squaring high rates with strong stock market performance
Consumer sentiment, borrowing costs, and negative wage growth
Sponsor: DeleteMe data removal service
Fed policy: Inflation targets, rate hikes, and internal dissent
Market trust in the Fed and long-term interest rate dynamics
Trump's comments on the Fed, Kevin Warsh, and monetary policy
Tariff refunds, IEEPA, and the Supreme Court decision
Legal nuances of tariff refunds and economic incidence
Permitting reform, energy infrastructure, and heating oil prices
Transition: Internet outage and introducing Jonathan V
Oil prices, Strait of Hormuz risk, and global supply chains
Retreat of the American-led world order and market impact
Pete Hegseth's speech: 'Patriotic cowboys' and military fitness
Project Meridian: Elon Musk, Palmer Luckey, and Newt Gingrich
Reddit feedback and odds of a Trump family member on the ballot
Chief Justice Roberts shunning and the role of social shame
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