Jacob welcomes economic policy expert Mike Konczal for a wide-ranging conversation on American capitalism, industrial policy, and the evolving role of the state. They explore how the Biden administration’s economic agenda challenges decades of neoliberal orthodoxy, discuss the implications of increased public investment, and examine what it means to have a “pro-worker” economy. Konczal brings deep insight into the politics and pragmatics of economic reform, offering a nuanced look at the shifting landscape of U.S. economic policymaking.

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Timestamps:

(00:00) - Introduction and Guest Introduction

(00:17) - Disclaimer and Encouragement to Listen

(01:13) - Starting the Conversation: Economy and Tariffs

(01:34) - Discussing Richard Rorty and Substack

(04:31) - The 2025 Tax Act: Key Points and Implications

(07:45) - Healthcare Market Rework and Medicaid Cuts

(10:57) - Energy Market Changes and Green Energy

(13:38) - Immigration Policies and ICE Funding

(18:11) - Balancing Criticism with Positive Aspects

(27:15) - Economic Shockwaves and the Republican Party

(27:39) - Market Reactions and Fiscal Policies

(28:30) - Deficit and US Debt Perspectives

(30:14) - Healthcare Cuts and Fiscal Impact

(34:04) - Tariffs and Market Uncertainty

(39:53) - Inflation and Interest Rates

(45:54) - Future Economic Strategies and Affordability

(52:41) - Concluding Thoughts and Future Outlook

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Referenced in the Show:

Mike's Website + Book: https://www.mikekonczal.com/

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Jacob Shapiro Site: jacobshapiro.com

Jacob Shapiro LinkedIn: linkedin.com/in/jacob-l-s-a9337416

Jacob Twitter: x.com/JacobShap

Jacob Shapiro Substack: jashap.substack.com/subscribe

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The Jacob Shapiro Show is produced and edited by Audiographies LLC. More information at audiographies.com

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Jacob Shapiro is a speaker, consultant, author, and researcher covering global politics and affairs, economics, markets, technology, history, and culture. He speaks to audiences of all sizes around the world, helps global multinationals make strategic decisions about political risks and opportunities, and works directly with investors to grow and protect their assets in today’s volatile global environment. His insights help audiences across industries like finance, agriculture, and energy make sense of the world.

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Jacob and Rob Larity dive deep into U.S. interest rate dynamics, focusing on Jerome Powell, Trump’s criticism of the Fed, and the potential political and market-driven forces affecting rate decisions. They explore Fed mechanics, historical precedent for presidential interference, and potential appointments like Scott Bessent. They also examine the inflationary impact of trade policy, tariff theatrics, and global economic slowdown signals. The episode concludes with Rob’s investment outlook—bearish on bonds, cautious on equities, and optimistic about international and niche small-cap opportunities.

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Timestamps:

(00:00) - Introduction

(00:13) - Discussion on Interest Rates and Political Interference

(01:29) - Casual Conversation and Personal Updates

(02:54) - Focus on Jerome Powell and Fed Criticism

(09:54) - Mechanics of the Federal Reserve System

(14:55) - Historical Context and Presidential Influence on the Fed

(25:35) - Scott Bessant's Role and Potential Impact

(33:58) - Critique of Janet Yellen's Bond Strategy

(35:02) - Challenges of Managing National Debt

(35:40) - Market Reactions and Yield Predictions

(39:49) - Impact of Tariffs and Trade Deals

(44:26) - Inflation and Economic Indicators

(57:15) - Investment Strategies in Current Market

(01:08:28) - Concluding Thoughts and Recommendations

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Jacob Shapiro Site: jacobshapiro.com

Jacob Shapiro LinkedIn: linkedin.com/in/jacob-l-s-a9337416

Jacob Twitter: x.com/JacobShap

Jacob Shapiro Substack: jashap.substack.com/subscribe

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The Jacob Shapiro Show is produced and edited by Audiographies LLC. More information at audiographies.com

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Jacob Shapiro is a speaker, consultant, author, and researcher covering global politics and affairs, economics, markets, technology, history, and culture. He speaks to audiences of all sizes around the world, helps global multinationals make strategic decisions about political risks and opportunities, and works directly with investors to grow and protect their assets in today’s volatile global environment. His insights help audiences across industries like finance, agriculture, and energy make sense of the world.

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Jacob Shapiro speaks with Fahd Humayun about the shifting geopolitical dynamics in South Asia and the Middle East. They discuss Pakistan’s perspective on the Iran-Israel conflict, U.S.-Pakistan relations under a potential second Trump term, and the strategic implications of Pakistan’s recent military and diplomatic moves. The conversation also explores India-Pakistan tensions, the lowering threshold for military escalation, the role of China in regional alliances, and the internal political challenges facing Pakistan. Humayun emphasizes the need for regional diplomacy, stability, and cautious optimism about Pakistan’s political and democratic future.

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Timestamps:

(00:00) - Introduction

(01:11) - Current Geopolitical Tensions: Iran, Israel, and Pakistan

(03:48) - Pakistan's Perspective on US Intervention

(05:16) - Unprecedented Meeting: Pakistani Army Chief and President Trump

(08:05) - Historical Context: Pakistan-US Relations

(12:44) - India-Pakistan Relations: Recent Developments

(31:21) - China's Role in South Asia

(43:36) - Domestic Politics in Pakistan

(50:37) - Conclusion and Final Thoughts

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Referenced in the Show:

Fahd's Website: https://www.fahdhumayun.com/

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Jacob Shapiro Site: jacobshapiro.com

Jacob Shapiro LinkedIn: linkedin.com/in/jacob-l-s-a9337416

Jacob Twitter: x.com/JacobShap

Jacob Shapiro Substack: jashap.substack.com/subscribe

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The Jacob Shapiro Show is produced and edited by Audiographies LLC. More information at audiographies.com

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Jacob Shapiro is a speaker, consultant, author, and researcher covering global politics and affairs, economics, markets, technology, history, and culture. He speaks to audiences of all sizes around the world, helps global multinationals make strategic decisions about political risks and opportunities, and works directly with investors to grow and protect their assets in today’s volatile global environment. His insights help audiences across industries like finance, agriculture, and energy make sense of the world.

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Jacob Shapiro and Rob Larity discuss the recent Israel-Iran conflict and its geopolitical impacts, including President Trump's ceasefire announcement. They analyze the muted market reactions, particularly oil's price drop, despite heightened tensions. The conversation then explores significant shifts in U.S.-Japan relations, highlighting Japan's rising outward investments as indicative of strategic realignments. Finally, Jacob and Rob reflect on navigating uncertainty, advocating long-term strategic thinking over reactive trading, and emphasizing the importance of preserving mental clarity amid rapid global changes.

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Timestamps:

(00:00) - Introduction

(04:51) - Markets!

(16:04) - Japan's Economic Strategy and Global Investments

(25:41) - US-Japan Relations: Pre-existing Tensions

(26:31) - Economic Logic and Japanese Investment

(27:58) - Japan's Military Capabilities and Global Perceptions

(30:18) - Japan's Foreign Policy and Public Opinion

(32:17) - Navigating Global Uncertainty and Market Impacts

(33:16) - Trading Geopolitics: Challenges and Strategies

(35:08) - Media Influence and Protecting Your Time

(40:46) - Final Thoughts and Advice

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Jacob Shapiro Site: jacobshapiro.com

Jacob Shapiro LinkedIn: linkedin.com/in/jacob-l-s-a9337416

Jacob Twitter: x.com/JacobShap

Jacob Shapiro Substack: jashap.substack.com/subscribe

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The Jacob Shapiro Show is produced and edited by Audiographies LLC. More information at audiographies.com

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Jacob Shapiro is a speaker, consultant, author, and researcher covering global politics and affairs, economics, markets, technology, history, and culture. He speaks to audiences of all sizes around the world, helps global multinationals make strategic decisions about political risks and opportunities, and works directly with investors to grow and protect their assets in today’s volatile global environment. His insights help audiences across industries like finance, agriculture, and energy make sense of the world.

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Jacob Shapiro sits down with Facundo Robles, Program Coordinator at the Wilson Center’s Latin America Program, for a wide-ranging conversation on how the Israel-Iran conflict intersects with Latin America’s geopolitical and economic realities. They unpack why Latin America remains relatively stable amid global volatility, and how rising oil, fertilizer, and agricultural prices might impact countries like Mexico, Argentina, and Brazil. The conversation weaves through U.S.-China competition, Argentina’s foreign policy under Milei, and Venezuela’s provocative posturing.

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Timestamps:

(00:00) - Introduction

(04:03) - Impact of Israel-Iran War on Latin America

(05:50) - Regional Stability and Conflicts in Latin America

(12:26) - Country-Specific Analysis: Mexico

(18:17) - Country-Specific Analysis: Argentina

(42:40) - Country-Specific Analysis: Venezuela

(45:42) - Conclusion

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Jacob Shapiro Site: jacobshapiro.com

Jacob Twitter: x.com/JacobShap

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The Jacob Shapiro Show is produced and edited by Audiographies LLC. More information at audiographies.com

--

Jacob Shapiro is a speaker, consultant, author, and researcher covering global politics and affairs, economics, markets, technology, history, and culture. He speaks to audiences of all sizes around the world, helps global multinationals make strategic decisions about political risks and opportunities, and works directly with investors to grow and protect their assets in today’s volatile global environment. His insights help audiences across industries like finance, agriculture, and energy make sense of the world.

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In this episode, Jacob speaks with Japan analyst Tobias Harris to unpack rising tensions in U.S.-Japan trade relations amid the Trump administration’s tariff blitz. They explore how Japan—historically a close U.S. ally—is reacting to unclear demands, internal U.S. policy chaos, and the potential collapse of trust in American economic leadership. Tobias breaks down the limits of personal diplomacy, the legacy of Shinzo Abe, and why Japan is quietly building plan B trade alliances. They also cover Japan-China relations, a political shift in South Korea, and how domestic rice prices could determine Prime Minister Ishiba’s fate. Global stakes, local politics—fully intertwined.

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Timestamps:

(00:00) - Introduction

(01:14) - Japan-US Trade Relations

(04:00) - Internal US Negotiation Issues

(09:39) - Japan's Strategic Dilemmas

(14:09) - Hypotheticals and Future Scenarios

(18:50) - Impact of Abe's Relationship with Trump

(24:10) - Japanese Relations with China

(25:25) - Japan's Efforts to Repair Relations

(28:31) - South Korea's New Leadership

(29:57) - Challenges in Japan-South Korea Relations

(36:13) - Japanese Domestic Politics

(40:50) - The Importance of Rice in Japanese Politics

(46:48) - Growing Interest in Japan

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Referenced in the Show:

Tobais' SubStack - https://observingjapan.substack.com/

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Jacob Shapiro Site: jacobshapiro.com

Jacob Twitter: x.com/JacobShap

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The Jacob Shapiro Show is produced and edited by Audiographies LLC. More information at audiographies.com

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Jacob Shapiro is a speaker, consultant, author, and researcher covering global politics and affairs, economics, markets, technology, history, and culture. He speaks to audiences of all sizes around the world, helps global multinationals make strategic decisions about political risks and opportunities, and works directly with investors to grow and protect their assets in today’s volatile global environment. His insights help audiences across industries like finance, agriculture, and energy make sense of the world.

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Jacob Shapiro is joined by Middle East expert Kamran Bokhari to analyze the rapidly unfolding Israeli military strikes on Iran. They discuss the strategic implications of Israel’s targeted attacks on IRGC leadership, the potential for regime instability in Tehran, and the calculus behind Washington’s response. Bokhari introduces the concept of “evolutionary regime change” and outlines scenarios ranging from internal coups to regional realignment. Together, they explore whether Israel’s aim is nuclear deterrence or regime collapse, and what options remain for an Iranian response. It’s a fast-moving, high-stakes conversation on Middle Eastern geopolitics.

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Timestamps:

(00:00) - Introduction and Episode Overview

(02:09) - Initial Reactions to Recent Events

(04:21) - Analyzing Israel's Strategy

(08:11) - Potential Outcomes and Scenarios

(27:01) - Regional Reactions and Implications

(32:08) - Conclusion and Final Thoughts

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Jacob Shapiro Site: jacobshapiro.com

Jacob Twitter: x.com/JacobShap

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The Jacob Shapiro Show is produced and edited by Audiographies LLC. More information at audiographies.com

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Jacob Shapiro is a speaker, consultant, author, and researcher covering global politics and affairs, economics, markets, technology, history, and culture. He speaks to audiences of all sizes around the world, helps global multinationals make strategic decisions about political risks and opportunities, and works directly with investors to grow and protect their assets in today’s volatile global environment. His insights help audiences across industries like finance, agriculture, and energy make sense of the world.

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Jacob Shapiro speaks with Iranian security expert Hamidreza Azizi to unpack Israel’s unprecedented strikes on Iran. They explore the strategic implications of Israel’s multi-phase assault, including the assassination of top IRGC commanders, the targeting of nuclear and missile infrastructure, and the collapse of Iran’s proxy network. Azizi outlines Iran’s limited options—from potential retaliation to a pivot toward nuclear armament—and discusses the psychological warfare at play. With U.S. involvement uncertain and regional dynamics shifting, this conversation offers a critical framework for understanding one of the most volatile escalations in the Middle East in recent memory.

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Timestamps:

(00:00) - Introduction and Episode Overview

(00:49) - Initial Reactions to Recent Events

(03:33) - Iran's Military and Strategic Response

(09:50) - Role of Proxies and US Involvement

(18:01) - Potential Outcomes and Strategic Implications

(27:42) - Conclusion and Farewell

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Jacob Shapiro Site: jacobshapiro.com

Jacob Twitter: x.com/JacobShap

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The Jacob Shapiro Show is produced and edited by Audiographies LLC. More information at audiographies.com

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Jacob Shapiro is a speaker, consultant, author, and researcher covering global politics and affairs, economics, markets, technology, history, and culture. He speaks to audiences of all sizes around the world, helps global multinationals make strategic decisions about political risks and opportunities, and works directly with investors to grow and protect their assets in today’s volatile global environment. His insights help audiences across industries like finance, agriculture, and energy make sense of the world.

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Jacob and Rob respond to listener feedback about negativity by focusing on positive trends, including declining violent crime and drug overdose rates in the U.S. They then dive into a high-level exploration of stablecoins—what they are, why they matter, and the potential risks and geopolitical implications of their rise. They compare the U.S. approach to stablecoins with the digital currency strategies of China and the EU, unpack the difference between innovation and systemic risk, and ask whether the erosion of trust in financial systems is worth the trade-off. A thoughtful, wide-ranging conversation on money, power, and volatility.

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Timestamps:

(00:00) - Intro

(01:44) - Positive Trends in Crime and Health

(09:58) - The Volatility Spiral and Technological Change

(16:06) - Introduction to Stable Coins

(22:36) - Regulation and Risks of Stable Coins

(27:11) - Global Perspectives on Stable Coins

(35:15) - Innovation in Payment Systems

(35:28) - Central Bank Digital Currencies vs. Stablecoins

(36:10) - Ideological Differences in Digital Currencies

(36:24) - Stablecoins: Private Money and Regulation

(37:17) - European Digital Euro Approach

(39:28) - US Legislation on Stablecoins

(41:36) - Risks and Regulations of Stablecoins

(56:25) - International Perspectives on Digital Currencies

(01:00:40) - Geopolitical Implications of Digital Currencies

(01:12:42) - Conclusion and Future Discussions

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Referenced in the Show:

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Jacob Shapiro Site: jacobshapiro.com

Jacob Twitter: x.com/JacobShap

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The Jacob Shapiro Show is produced and edited by Audiographies LLC. More information at audiographies.com

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Jacob Shapiro is a speaker, consultant, author, and researcher covering global politics and affairs, economics, markets, technology, history, and culture. He speaks to audiences of all sizes around the world, helps global multinationals make strategic decisions about political risks and opportunities, and works directly with investors to grow and protect their assets in today’s volatile global environment. His insights help audiences across industries like finance, agriculture, and energy make sense of the world.

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Jacob welcomes Sim Tack, a military analyst at Force Analysis, to break down the shifting battlefield dynamics in Ukraine. Together, they unpack Ukraine’s evolving tactics, Russia’s slow but grinding advances, and the logistical and manpower challenges both sides face. Jacob pushes for a bigger picture: what this phase of the war tells us about the future of U.S. involvement, Europe’s strategic posture, and why the world should be watching Eastern Ukraine more closely. Sim offers clarity without sensationalism, grounding the conversation in facts, maps, and on-the-ground realities. It's a sobering, sharp look at a war still unfolding.

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Timestamps:

(00:00) - Introduction and Podcast Update

(00:14) - Ukrainian Drone Attack on Russia

(00:52) - Analyzing the Impact of the Attack

(02:48) - Details of the Drone Strike

(07:12) - Implications for Global Military Balance

(13:11) - Comparative Analysis with Other Conflicts

(21:28) - Technological Evolution in Warfare

(26:04) - Mexican Cartels and Military Targets

(26:49) - Drone Warfare Evolution

(29:47) - Counter-Drone Technologies

(37:50) - Impact on Russian Air Power

(43:07) - Ukraine's Strategic Timing

(51:30) - Conclusion and Future Discussions

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Jacob Shapiro Site: jacobshapiro.com

Jacob Twitter: x.com/JacobShap

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The Jacob Shapiro Show is produced and edited by Audiographies LLC. More information at audiographies.com

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Jacob Shapiro is a speaker, consultant, author, and researcher covering global politics and affairs, economics, markets, technology, history, and culture. He speaks to audiences of all sizes around the world, helps global multinationals make strategic decisions about political risks and opportunities, and works directly with investors to grow and protect their assets in today’s volatile global environment. His insights help audiences across industries like finance, agriculture, and energy make sense of the world.

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