Iceberg. Dead Ahead: Tariff Chaos, Shadow Repo and Liquidity Crisis.

Unf*cking The Republic

UNFTR Media

Government, News, Politics

4.9 • 683 Ratings

🗓️ 9 May 2025

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

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

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Transcript

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0:00.0	This is a major podcast and we call it UNFTR.
0:08.6	I'm fucking the Republic is the name that is not safe for work.
0:11.4	We hate Reagan, Milton, Friedman, Rupert Murdoch, and Matt Gaines.
0:13.8	Talk socioeconomics, global markets, politics, and race.
0:17.7	Max, the host is basic and admits he likes Miami Vice.
0:20.3	99 produces also she's a vegan and she's nice.
0:22.9	Mani Faces is the genius on the board behind the glass.
0:26.7	Together they produce this unbelievable fucking podcast.
0:29.2	Together they produce this unbelievable fucking podcast.
0:31.9	Together they produce this unbelievable fucking podcast.
0:34.5	Together they produce this unbelievable fucking podcast.
0:37.3	Oh, and yeah, by the way,
0:39.4	my name is Tom McGovern and just know that I'm a hired gun.
0:42.0	So if you're gonna hate somebody, please don't let me be the one.
0:44.7	Now you have the details of the show in the entire cast.
0:47.2	So listen to this unbelievable fucking podcast.
0:49.6	So listen to this unbelievable, this unbelievable, so listen to this unbelievable,
0:54.0	so listen to this unbelievable, this unbelievable. So listen to this unbelievable looking hot.
0:55.9	Cast.
1:00.4	I'm back on the financial and economic bandwagon, because there's something really important that people need to understand right now.
1:10.6	Not because there's anything you can really do about it, but because the gaslighting has
1:15.2	already begun.
	...

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