Bill explains the Federal Reserve's accounting maneuver, why it is acting blindfolded in setting interest rates, and why the Senate's move to block tariffs is significant-- if the House ever returns to session. Linda does a deep dive in Project Nimbus, the obscure contract between Israel and the AI/Cloud platforms of Amazon and Google that allows for a wink-and-a-nod approach to international law.

After a brief discussion of current CPI inflation numbers, we discuss the role of Donald Trump in the Gaza Peace accord such as it is. Then we do an exploration of the simplistic narrative of events leading to the cease-fire, or at least, diminshed-fire. Linda provides some context on the history of the dispute and the current exclusion of The United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) from delivering vital humanitarian aid.

A discussion of what is going on in the economy and how we know since the Bureau of Labor Statistics along with the rest of the Federal Government is shut down. Also, a response to a listener. The issue we address in our current political situation, policy discussion is focused on which person's are responsible, rather than reasoning about the causal processes that have created the problem. This is a special case of magical thinking which we discussed in some detail.

Where to start? Bad economic news, rising unemployment and prices, illegal deployments of the National Guard in US cities, and preparations of the military for the war within--Really! One unconstitutional presidential executive order after another, along with insane and illegal actions to create spectacles to distract the public from catastrophic policies, are becoming the norm. Jimmy Kimmel is back! Money talks and so do UNIONS!

We discuss the Congressional Budget Office's projection of tariff revenues and whether those revenues will cover the costs of the tax cuts in his Big Awful Bill.

We also discuss the recent use of parody and irony by Governor Newsom of California, to illustrate the hypocrisy and foolishness of Trump's use of social media to corrupt political discourse. We also note that neither Trump nor his followers seems to have the capacity to understand either, while possessing a sense of humor less sophisticated than that of most five-year-old children.

We return to the topic of Trump's ongoing attempt to fire Federal Reserve Board Governor Lisa Cook, as a continuing part of his attack on the Federal Reserve System.

Additionally, we observe Trump's attempts to distract the public from the consequences of his policies by issuing clearly ridiculous executive orders, which attract news coverage, that the media can't seem to resist.

These include, an unconstitutional executive order making flag burning a criminal offense with a one-year prison sentence because it incites riots (Trump knows a great deal about inciting riots and insurrections). He is also floating a proposal to use the National Guard to invade Chicago and Baltimore.

And he has thrown tantrums over the "blue slipping" of a judicial nomination in the Senate and a Trump-appointed district judge throwing out his lawsuit against all the Maryland Federal District Court Judges because the lawsuit had no legal or constitutional basis.

Bill discusses the criminal referral by the head of the Federal Housing Authority of Lisa Cook, a Governor of the Federal Reserve, as a shameful attempt to drive her off the Board of Governors.

Linda explores predictive policing and other scary data-driven surveillance. A deeper dive into the activities of Palantir Gotham.

Additionally we return to the cherry crisis, immigration, and add the issue of visas for foreign students.

Finally, Linda brings to our attention the content-less television coverage of the meeting between Putin and Trump, likely caused by the fact that (predictably) nothing of substance happened at the meeting. Trump once again showing the world that he knows nothing about the conduct of foreign policy and diplomacy, but will do anything for coverage of his feeble attempts at both.

We start this week with a return to Statistics, specifically Trump's nominee to lead the Ministry of Truth (the Bureau of Labor Statistics). Trump's nominee (which we somewhat gleefully note) is being savaged in conservative media as, well, completely incompetent, and is seen as evidence that Trump wants someone to manipulate the numbers rather than present the truth. We examine why this is significant for constituencies that usually support Trump unequivocally and look forward to the drama that is likely to unfold.

We also explore the plan by the Palantir corporation—a data gathering and analysis firm that uses all your data available anywhere on the web—to create a film production company. The goal is to make pro-American films featuring military action, anti-Chinese themes, and heroes from the right. Their list of projects sounds tediously boring and somewhat offensive. Shades of Project Vertas. 

Anyway, Hollywood has a glorious past and well-deserved high regard for the propaganda films it has made, especially in times of crisis. And there is no shortage of wacked-out right-wing military glorification on mainstream media. So what is the new agenda of this group? 

Finally, we wonder why Trump wants to sell our most sensitive computer chips, which are highly restricted in sales, to the highest bidder as long as the government receives akickback from the sales. Can this possibly be legal? We all know felon Trump doesn't care if it is.

We discuss Trump's attack on the Bureau of Labor Statistics and its real consequences. We discuss the defunding of the Corporation for Public Broadcasting as part of a larger attempt to control the content of news. We also ponder the Texas redistricting scandal and the war between the Governors of Texas, California, and New York on non-Census redistricting of congressional districts.

Linda explains the FCC's approval of the Skydance and Paramount merger. The corrupting of the meaning of broadcast news as serving the common interest by informing the public, and redefining the best interest of the public by turning the news into infotainment focused on ratings and profits.

Bill discusses the Brain Drain. Trump's attacks higher educationon research and are leading to a loss of U.S. scholars to other countries, keeping foreign scholars and students out of the U.S., and degrading our workforce. Also, foreign student expenditures are the largest 'export earning industry' in the U.S., thus running completely against Trump's trade policy and goals. Alas, this reinforces the brain drain from red states and the brain gain to blue states.

We follow up wit loyal listener regarding the details of the 'so-called' tax cuts.sponses from ourh a couple of re

And we briefly return to cherry trees.

Harvard is defying the Trump administration's attempt to seize control of the academic life of Harvard by withholding research grant money. The accusation of antisemitism is Trump's stalking horse for this blatant attack on academic freedom, attempt to eliminate dissent, and thereby control higher education in the same manner that all authoritarian regimes do.

Linda explains the recent ACLU challenge to Trump's attempt to eliminate birthright citizenship.

Bill discusses the impact of indiscriminate ICE raids on the agricultural labor market and its impact on future food availability and prices, especially in light of impending tariffs on Mexico and Canada.

The Big Bad Bill passed Congress. Linda and Bill discuss the impact of this piece of legislation on the taxing of Social Security beneficiaries. They also discuss the fraudulent claims of Mr. Trump that tips will not be taxed. In the final section, we note that cause-and-effect reasoning is irrelevant when policymakers and the public both prefer magical thinking about the consequences of proposed policies.

Linda and Bill don't panic over bond yields on US Treasury bonds exceeding 5%.

Bond interest versus bond yields are explained.

It is explained why the US cannot be forced to default. This makes US treasury bonds highly secure assets for individuals and financial institutions of all kinds.

The impact of Trump's magical thinking about tariffs and policy in general, as opposed to actual outcomes for the economy is also discussed.