Podcast Summary: Bulwark Takes

Episode: Tim Miller: Trump’s “Anti-Establishment” Act Is Over

Date: November 12, 2025
Host: Tim Miller
Guest/Co-host: [Unspecified (labelled B, possibly Nicole Wallace or another Bulwark team member)]

Episode Overview

This episode dissects Donald Trump’s fading reputation as an “anti-establishment” figure amid economic turmoil, an ongoing government shutdown, and high-profile displays of extravagance at the White House. Tim Miller and his co-host sharply critique Trump’s economic mismanagement, his out-of-touch inner circle, and argue that Democrats may be in a stronger position than many assume—despite challenging circumstances for the country overall. The conversation also touches on the political and cultural shifts impacting how Trump’s brand is perceived by both voters and commentators.

Main Discussion Points & Insights

1. Trump Loses the Narrative on the Economy

• Economic Performance and Political Perceptions

  • Tim Miller points out Trump is "losing his anti-establishment cred" and blames Trump’s policies—particularly tariffs—for worsening economic conditions.

    • “The economy is worse than when he got in because of the policies he’s put in place, particularly around tariffs.” (Tim Miller, 01:50)

  • Miller references focus groups showing voters respond most to economic impacts in their lives, not abstract political fights.

  • Democrats are currently framing themselves as fighting for those hit hardest by the shutdown, while Trump is seen as indifferent.

  • Notable Quote:

    • “On all those scores, Donald Trump is just stepping on rake after rake after rake.” (Tim Miller, 01:34)

2. Trump’s Display of Wealth and Disconnection from Everyday Americans

• White House Extravagance

  • Miller skewers Trump’s ostentatious White House parties (“Great Gatsby party” and “truffle and opera party”) as emblematic of his tone-deafness during economic crisis.
    • “Donald Trump has been throwing Great Gatsby parties and putting fake gold bullion on the White House and buddying up with the richest people in the world.” (Tim Miller, 03:25)

• Personal Detachment

  • Co-host B draws a vivid contrast, recalling George H.W. Bush’s infamous grocery scanner gaffe, and says Trump is even less in touch with everyday costs.
    • “Clearly Donald Trump doesn’t know how much any of those things cost. I’m sure he’s never been inside a grocery store unless he wanted to knock it down and stick something tacky there.” (Co-host, 04:54)

• Trump’s Inner Circle

  • Miller highlights Trump’s closest advisors as ultra-wealthy individuals and grifters, with no connection to the daily realities of normal Americans.

    • “You have extremely rich people that are in on the grift and the corruption as part of the inner circle. And then you have like wild eyed ideologues…like Stephen Miller and that’s it.” (Tim Miller, 06:42)

  • Trump has lost “call and response” with real people; now, he “is at Mar a Lago with cougars on the pool deck. And he’s got billionaires in his cabinet.” (Tim Miller, 07:25)

  • Notable Moment:

    • “Cougars on the pool deck and billionaires in the cabinet—I feel like that’s like an album title or a Netflix series.” (Co-host, 08:11)

3. Trump’s Failure to Maintain an “Anti-Establishment” Image

• Transformation into the Establishment

  • Miller details how Trump’s alliances with tech and finance moguls quickly turned him into the establishment:
    • “You cannot be the anti establishment when you’re partying around with Mark Zuckerberg and all the richest people in the world. Right.” (Tim Miller, 11:12)
  • This paradox has made it increasingly difficult for Trump’s base and sympathetic commentators to maintain narratives of him as a rebel or “forgotten man’s” champion.

• Impact on Conservative and Comedic Spaces

  • The hosts note the awkwardness faced by right-wing comedians and media in supporting a president whose policies are backfiring and now openly favor the wealthy.

4. Political Outcomes of the Shutdown

• Democrats’ Improved Political Position

  • Miller argues the Democrats are better off now than at the start of the shutdown, having clearly sided with cost-burdened Americans on healthcare, even if the outcome isn’t perfect.

  • He notes this was the “longest shutdown in history…harder, longer…than anything even the most extreme and radical Republicans have done in the past.” (Tim Miller, 13:26)

  • Despite expectations, “the Democrats are in a lot better place now than they were 40 days ago politically…The Republicans are in a worse political position, voters understanding where Democrats are now on health care and the fact that Democrats wanted to make healthcare cheaper, and the Republicans don’t care about that.” (Tim Miller, 13:50)

  • Notable Quote:

    • “[Shutdown] was a harder, longer fight than anything even the most extreme and radical Republicans have done in the past.” (Tim Miller, 13:26)

5. Advice to Democrats: Move Forward, Not Inward

• Avoid the Circular Firing Squad
  • Co-host B urges Democrats to avoid infighting and continue proactive campaigning, pointing to recent election wins and successful navigation of the shutdown:
    • “Skip the circular firing squad and go on to the fight. Just go back to fighting. Like, that’s how you swept the elections Tuesday night.” (Co-host, 14:35)

Notable Quotes & Memorable Moments

• On Trump’s Out-of-Touch Extravagance:

  • “Cougars on the pool deck and billionaires in the cabinet.” (Tim Miller, 07:25, echoed by Co-host, 08:11)

• On Economic Responsibility:

  • “It’s not just that they’re out of touch. They’re out of touch with people’s affordability issues. And they don’t have any proposals to deal with it.” (Tim Miller, 07:52)

• On Political Repercussions:

  • “Their insurance costs are going up because Donald Trump won the election and the Republicans won both houses of Congress. And the only way to fix that is to vote them out next time.” (Tim Miller, 14:13)

• On Democrats' Strategy:

  • “Democrats picked a clear strategy for once. They talked about an issue that people care about…health care costs.” (Tim Miller, 13:39)

Key Timestamps

• 00:00-04:40: Miller's introduction, overview of economic critique, comparison of Democrats’ and Republicans’ positions in the shutdown.
• 04:43-06:07: Discussion of Trump’s personal disconnect with everyday economic realities; inner circle analyzed.
• 06:10-08:08: Description of Trump’s Mar-a-Lago lifestyle and sycophantic circle; lack of policy ideas for the real world.
• 08:08-10:20: Democrats' comparative advantage, the shift in public blame onto Trump, alternative political paths.
• 10:20-12:30: How comedians and conservative media are cross-pressured by Trump’s establishment turn.
• 12:38-14:35: Evaluation of the Democrats’ political gains from the shutdown and advice to continue unified, forward-focused campaigning.

Tone and Language

• Conversational, sardonic, and at times caustic—maintaining Bulwark’s signature blend of sharp political analysis and wry humor.
• Memorable phrasing (“stepping on rake after rake”; “Great Gatsby parties and fake gold bullion”) conveys both exasperation and disbelief at the current political climate.

For New Listeners

This episode is a must-listen for those interested in the evolving political landscape under Trump’s second term, offering candid insights into the shifting fortunes of both parties and the growing gulf between Trumpism’s promises and its present realities. The analysis is unsparing, lively, and comes with an unsubtle call for Democrats to regroup and fight rather than fall to self-sabotaging infighting.