4.9 • 683 Ratings
🗓️ 24 October 2025
⏱️ 48 minutes
🧾️ Download transcript
The U.S. economy is headed for financial collapse. Repo market stress. Private credit market liquidity crunch. Subprime lending crisis. Spiraling deficits. Basis trade exposure. Dollar debasement. U.S. states in recession. Oil market contango. Tariff and trade wars. Each of these are like explosive devices hiding in the corners of the economic edifice that is the U.S. economy. And the Federal Reserve just released a shocking paper that exposes the biggest potential threat of all. Explosive devices have been set all around the economy and a new bomb was just uncovered in the most unlikely of places.
Chapters
Intro: 00:05:21
Chapter One: The Road to Economic Hegemony. 00:06:24
Chapter Two: Collision Course. 00:30:55
Chapter Three: Hidden Bomb. 00:35:50
Chapter Four: Bring It Home, Max. 00:44:50
Resources
The Lead Left: Middle Market & Private Credit – 2/10/2025
Axios: 22 states are in a recession or close to it, new analysis finds
The Fed: The Cross-Border Trail of the Treasury Basis Trade
FSB: Leverage in Nonbank Financial Intermediation: Final report
Morningstar: Official data dramatically underestimates hedge funds' involvement in the Treasury market, Fed paper finds
Federal Reserve Bank of New York: Repo Operations
Fidelity: Investor behind Zions, Western Alliance bad loans is tied to $270 million in troubled debt
Car Dealership Guy: Tricolor: The messy collapse of a subprime auto lender explained
Investopedia: Basis Trading: Definition, How It Works, Example
The Guardian: What is private credit, and should we be worried by the collapse of US firms?
OilPrice.com: Oil Market Braces for Contango and Shale Slowdown
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| 0:00.0 | Hey, unfuckers. It's been a minute since we've done a full, and I mean a full, unfucking. |
| 0:05.8 | So I'm here in the studio with 99. We've got many faces behind the glass. |
| 0:11.2 | Who's back for a quick stop from his world tour to promote his book. So we're all together here. |
| 0:17.3 | To kick off what is going to be kind of an opus on the U.S. economy, because we've |
| 0:22.9 | been doing a lot of pieces lately in and around some themes, and it was time to bring them all |
| 0:28.7 | together, especially because there was a recent drop from the Federal Reserve that has, what I believe, |
| 0:37.2 | tremendous consequences attached to it. So before we begin, |
| 0:41.0 | just a quick reminder that we are in our fall, fund, friend, and hellraiser period. Aren't we |
| 0:47.5 | 99? Yes, we are. What does that mean for folks, do you think? This is the time where we're really |
| 0:53.3 | looking for memberships. |
| 0:55.0 | That's right. So we are fully transparent on this show that we have right now about 455 or so |
| 1:04.1 | active members who help us fund this endeavor. And that covers everything from what might be the best progressive podcast |
| 1:14.5 | website on planet earth at UNFTR.com. All of our social outlets, Instagram, TikTok for as long as |
| 1:23.5 | that last, blue sky, Facebook. Did I get them all? I think so. There we go. I think so. |
| 1:30.5 | The YouTube channel, which is growing nicely, and I have another goal there. You know, if you're not |
| 1:36.2 | a YouTuber, I totally get it. If you dabble every once in a while and have yet to subscribe to the |
| 1:42.6 | channel, we are making a push before the |
| 1:45.8 | end of this year, which is part of the friend raiser portion of this, to get to 100,000 subscribers. |
| 1:52.6 | We're dangerously close, and I have a feeling that we're going to tip that balance before |
| 1:57.7 | the end of the year, and that would be exciting. So that's part of the |
| 2:01.9 | fundraiser piece. The 455, we're trying to get to 600 by the end of this six-week |
| 2:09.4 | fundraiser period. So if you can see your way clear to becoming a member, anywhere from $5 to just |
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