Ryan McMaken breaks down what the economic data is actually saying beneath the headlines. The money supply has grown by a trillion dollars in seven months, while the Fed insists policy is tight. Q4 GDP was quietly revised down to 0.5%. Consumer confidence is at multi-decade lows. And the stock market keeps hitting new highs.

Ryan explains why these aren't contradictions. They're symptoms of the same underlying problem: a bubble economy sustained by continuous liquidity injections since 2009 that the Fed has never unwound and never will. He draws a striking parallel to Britain's 1956 Suez Crisis, when an expensive military operation accelerated the decline of sterling as the global reserve currency, and asks whether the Iran war is doing the same to the dollar.

The original episode is available at https://www.youtube.com/watch?v=-mX0I97xAak