A detailed look at the latest May inflation and jobs reports. What's behind the legacy media headline reporting? What US oil CEOs are saying about global oil supply and prices. August jobs adjustments coming. Hourly wages trends. AI and stock bubbles' volatility continuing. AI threats to cyber security. Latest GDP forecasts. Updates to Iran and Ukraine wars deteriorating

Our update on the instability of the private credit financial markets continues as concern spreads to insurance industries now. Regulators start looking at it. Meanwhile, credit card debt rises to $1.25 trillion. How credit cards are linked to private credit. The real unemployment rate after the collapse in the labor force participation rate is considered. Trump's new tariffs. A radical Fed coming? Iran and Ukraine war updates.

 Today's show starts with review of latest US GDP, inflation and income numbers showing inflation accelerating and GDP slowing sharply in latest 2nd GDP numbers. Rest of show focuses on dangerous new events in the Ukraine war as Europe pushes drone attacks deep inside Russia and Russia public opinion demands more aggressive action by Putin. Russia warns 'get out of Kiev' as something big coming soon. Russia talks directly about attacking Baltics sites where drones are being launched into northern Russia and warns will target drone production in the EU. EU NATO political leaders keep saying they're preparing for war with Russia inevitably by 2030. 

What's happening to bonds in US and global as interest rates surge to 2007 and 2023 levels precipitating financial crash events? Bond markets way bigger and more important than stock markets. Iran war re-escalation expectations by investors, with more inflation and Federal Reserve expected to start raising interest rates again. Consequences for stocks, especially AI bubble. What's impact of Trump's just preventing all controls on AI negative impacts on jobs, autonomous weapons development, political system legitimacy (and his family's AI investments?). Trump's IRS deal. Cuba next regime change before US elections.

Trump and an entourage of 2 dozen big US corp CEOs, mostly big Tech, went to China this week. What was it about? (Not Iran or Taiwan!). New York mayor, Mamdani, falls in line with the Democrats. Why no big tax increase on the rich as he promised. Latest on Trump's plan for Cuba regime change. Why Russia may extend war to Europe war production. Inflation vs. wages latest data. US gerrymander wars may help Trump keep control of Congress (and why Democrats are being outmaneuvering...Again.

Trump's nexus of personal corruption with UAE and Gulf states becoming increasingly clear as latest deals between his Crypto company, 'World Liberty Financial',  and UAE's sheik MGX company strike deals. How Trump personally benefits. How Trump's Iran war announcements create volatility in energy stocks sales worth $7B since war began. Update on why 'Project Freedom' collapsed in 36 hours, Trump's targeting of Cuba after Iran, US courts reject Trump's 2nd Tariff plans. Latest on US credit card debt and why AI bubble won't produce real profits for most companies.

Today's show reviews latest US GDP numbers showing mostly driven by AI investing and top 10% consumers' spending. History of GDP from 2020 covid recession to the present. Why after $10 trillion fiscal-monetary stimulus we're still getting only a 2% annual growth rate. Show also discusses Fed chair Powell's decision to remain and implications for interest rate policy. AI boom latest numbers. Why the US empire cannot continue as structured and why Trump will bomb the hell out of Iran and declare victory and leave, much like Nixon did in Vietnam in 1972-73

Talk is growing globally of the negative impacts of the Iran War on the US and global economies. The US and Iran appear to have settled into a longer term conflict, as Trump will likely escalated the conflict inevitably over the next four weeks. The long term impacts on global and US GDP are considered. On the fate of the Petrodollar. Asian and EU economies. The multiple impacts on US inflation. The first full month, March, of the war is compared to the February US economy.  What's the outlook for US deficits and debt. Financial markets. Jobs.

Latest news on Trump's attack on the Fed, the US military industry complex short of weapons, and AI job bloodbath now accelerating. Update on Iran war negotiations: Trump's lies on Hormuz and events of the past week.

Today's show revisits the continuing instability in the private credit of the US financial system. Is the fragility steadily getting worse? Latest US inflation stats and jobs numbers. Update on the  ceasefire in Iran that isn't and why the hot war and economic destabilization will renew after 2 weeks.