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On The Record (10-20-26).

F*ck Everything.

This week we made the structural case that disaster privilege is real, capitalism is the constant, and the fight isn’t between two parties—it’s between the status quo and something better. Then we caught what might be the first real crack in the AI trade: the ex-AI index outperformed the S&P by 4.8% in a single week, as the debt math finally stops working.

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UNFTR On the Record 10-20-26. F*CK Capitalism above a word cloud of topics and figures including Trump, Democrats, Republicans, SCOTUS, ICE, centrism, Russell Vought, Obama, Schumer, Scott Bessent, Milton Friedman, Mike Johnson, Hakeem Jeffries, Neera Tanden, Elon, Bill Maher, James Carville, Larry David, and the Problem Solvers Caucus.