UNFTR Weekly Roundup

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Here’s what to expect next from the Trump administration.

“We tried our best to save the failing Biden economy but he destroyed it beyond repair. That’s why we’re in such a terrible recession. Frankly, no one has ever seen anything like it before. The woke policies of the failed Biden administration ruined our big, beautiful economy so we are going to have to do some tough stuff. You’re not gonna like it. But Biden left us no choice.” 

He’s setting way too many things in motion for the economy not to tank. 

• Consumer confidence is plummeting and that will only accelerate as crucial government services begin to falter under DOGE’s chainsaw approach. 
  
  
• The last time employers cut this many jobs in February was in 2009. If memory serves, that was a pretty terrible year. (Note: Sarcasm). The DOGE cuts were a huge part of this but jobs are jobs and that’s never good.
  
  
• Auto loan delinquencies among subprime borrowers is higher than it was during the financial crisis. (See chart below.)
  
  
• Inflation was higher than expected in January. 
  
  
• Manufacturing has expanded thus far in Q1 BUT it was less than expected and observers believe new orders increased primarily from tariff concerns. (In other words, get materials before the prices increase.)

This is a bubble. But here’s the weird part. Trump has the pin. Implementing tariffs will pop the bubble and a global slowdown will ensue because inflation will rip again here at home and retaliatory measures will spread inflation across the globe. 

But for some reason, he won’t pop the bubble. It’s like he has cold feet or something. Despite all the bluster and threats to bring us right to the edge, he keeps backing off. 

Is it possible there are competing narratives in his camp? I’m still of the belief that the Russell Vought/Steve Bannon spectrum of nihilism is governing the actions of this White House. And that they actually want to tear it down and leave us with a 19th Century style economy that only serves the elite. But it’s possible others close to him like Treasury Secretary Bessent didn’t sign up for this or think they would go through with it. 

This is pure speculation on my part, mind you. It just doesn’t add up. If they’re going to loot the treasury and destroy democracy beyond repair, then fucking get on with it. The sooner it burns down, the sooner we rise from the ashes. Or something like that. 

Other things I’m obsessing over…

• #FAFO Season. This young man, Joel Mugisha, is doing the Lord’s work tracking MAGA tears in the Fuck Around and Find Out (FAFO) era under Trump. 
  
  
• 76%. That’s the rate of decline in German Tesla sales in February. That’s an Elon Musk trend I can get behind. 
  
  
• #ScrapTheCap is catching on. The power of narrative. Keep it moving.

-Max

This Week on the Pod

Trump Unhinged and Third Parties.

This week is an attempt to organize disparate content pieces from the past few weeks. Thoughts on third parties, Trump’s address to the joint session of Congress, notes on the final non-negotiables and random thoughts Max is working through. We’ve got a mashup of sorts on our hands so prepare for a bit of rambling. 

Here’s a snippet from the pod:

Max: For those who say, it’s a pendulum, it will swing back; it won’t. Why would they destroy the economy on purpose, they say? First of all, why do you think they’re all building fucking spaceships and designing chips to put in their brains? They’re ready to ‘peace out’ of this planet and think they’ll live forever. Seriously though, they don’t care about you or the economy or economic theories, taxes, regulations, competition, whether anyone will be able to buy anything. And I know this is the hardest thing to understand. If they light it all on fire won’t they go up in flames as well? No. Actually, no. That's not how it works.

Chart of the Week

Source: Fitch

Take a look at these figures. This is the story of inequality and it’s not a good sign. These are the 60 day auto lease payment delinquency rates. The blue (prime) line is slightly elevated as of January, which is a troubling indicator because these are stable to high credit rating borrowers. But take a look at the red (subprime) borrower line. It’s off the charts with no historical comparison since they started tracking it. It’s blown past the height of the financial crisis AND the peak inflation data and interest rate high. The low end of the income spectrum in the U.S. is getting absolutely hammered.

Headlines

Hanging by a Thread

This one ain’t over and it holds tremendous weight. Mother Jones rightly points out that the SCOTUS came dangerously close to giving away the keys to the kingdom. And we’re still not out of the woods.

From the article:

“Alito’s dissent, which Justices Clarence Thomas, Neil Gorsuch, and Brett Kavanaugh signed onto, is not only an argument for allowing Trump and his chosen officers to ignore Congress’ power of the purse—but it is tonally a vindication for Musk, Trump, and their allies who have turned their ire on judges who have ruled against them. What is stunning, yet at this point not surprising, is that four justices have joined the MAGA alliance in maligning a district court judge who is already in the crosshairs of Musk and his followers, including in explicitly racist terms.”

Mother Jones: The Supreme Court Is Just One Vote Shy of Making Trump and Musk Kings

Playing With Fire

Trump’s buddies in North Korea back a sophisticated hacking outfit called Lazarus Group. They just pulled off a stunning crypto heist that sent shockwaves through the crypto universe. In other news, Trump is moving forward with a crypto summit to explore a federal crypto reserve because of course he is.

From the article:

“The hack sent crypto markets into a free fall and undermined confidence in the industry at a crucial time. Under the crypto-friendly Trump administration, industry executives are lobbying for new U.S. laws and regulations that would make it easier for people to pour their savings into digital currencies.”

New York Times: How the Biggest Crypto Heist in History Went Down

Don’t Look Away

Trump continues to signal support for the complete removal of Palestinians from Gaza. Human rights organizations say the new blockades erected by Israel have left refugee camps days away from running out of food. While the eradication of life in Gaza continues, elsewhere in Palestinian territories, Israel is carrying out brutal acts of violence that goes completely unreported in Western media.

From the article:

“Israel launched Operation Iron Wall on January 21, two days after the Gaza ‘ceasefire’ went into effect. More than 60 Palestinians, including 11 children, have been killed by Israeli forces and state-backed settlers in the West Bank since then. With the Gaza ceasefire deal in peril as a result of Netanyahu’s sabotage and Israel—even further emboldened by the re-election of Donald Trump—on an aggressive and violent rampage in the region, tens of thousands of Palestinians in the West Bank face one of the most dire realities imposed on them by Israel in decades.”

DropSite: State of Siege: Israel is conducting its largest mass expulsion campaign in the West Bank since 1967

In addition to UNFTR (of course), what are your top three progressive media sources?

DaveFromHoldFast:

• Current Affairs
• Jacobin
• Hamilton Nolan (How Things Work)

Resources

Pod Love

Had to dip out of the madness and into my guilty pod pleasure this week because the Rewatchables finally covered Rocky I. I feel like Rocky in the 14th round though. “Cut me Mick.”

You can now watch Rewatchables on YouTube but I still prefer the pod.

Book Love

I’m still reading The Wealth of Nations. But I did finish Code of Capital. It was great. I’m also in the middle of a new climate change book but I’ll recommend it when I’m further along. In the meantime, here’s an Unf*cker recommendation that seems wise given how much access the DOGE committee has to our data.

“In this explosive yet practical book, Kevin Mitnick uses true-life stories to show exactly what is happening without your knowledge, teaching you ‘the art of invisibility’ — online and real-world tactics to protect you and your family, using easy step-by-step instructions.”

Kevin Mitnick: The Art of Invisibility: The World's Most Famous Hacker Teaches You How to Be Safe in the Age of Big Brother and Big Data

Unf*cker Comment of the Week

From @DavidRobertson-vg3zw:
“Hell yeah man. Came here to shit on you for supporting the Regan loving dem, and was pleasantly surprised. Will start watching your content, good critique and wholeheartedly agree.”

UNFTR YouTube Highlight

‍“In this video I’m going to take you through five charts that demonstrate disturbing trends in the U.S. economy. Some of it looks normal on the surface but just below the headline numbers there’s real trouble brewing. There are a few signs that the Trump administration is clearly aware that its policies are already wreaking havoc in record time, but even if they suddenly decide to work for instead of against the American people, it might be too late.”

Progressive Corner

Progressive Organization of the Week: Political Research Associates.

Last year we interviewed author Ben Lorber who is an associate at this institute. Political Research Associates has a lot of solid content and helpful resources for organizing. Definitely worth checking out their work as you build actions in your districts. 

‍“Political Research Associates is a social justice research and strategy center devoted to supporting organizations, civic leaders, journalists, and social sectors that are building a more just and inclusive democratic society.”

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