On The Record (10-06-26).

This week we diagnosed the economy as a giant zit—good numbers on the surface, all of it concentrated in AI investment and stock market gains for the top 10%, while wages fall below inflation, consumer confidence hits a 12-year low, and the 10-year Treasury just blew past its 2007 peak. Then we looked at what the pop actually looks like: a private credit unwind that drags the banks with it, a Fed that can’t buy its way out this time, and Scott Bessent left holding the bag. The Buffett Indicator is sitting at 235%. Maybe that’s why he retired...

Chapters

Intro: 00:00:42

Quick Takes: 00:01:24

Max Notes: 00:01:24

Killer Left Take of the Week: 00:21:10

Chart of the Week: 00:22:15

Outro: 00:23:16

Resources

CBS Sunday Morning: Alan Alda on fighting Parkinson’s with laughter

This Past Weekend w/ Theo Von: Zohran Mamdani

NBC News: U.S. bombers scrambled out of U.K. airbase after threats