Raging Moderates with Scott Galloway & Jessica Tarlov
Episode: Trump’s “Affordability” Agenda—A Masterclass in Backward Economics
Date: November 12, 2025
Episode Overview
This episode dives deep into Donald Trump’s recent attempts to reclaim the issue of affordability in American politics, scrutinizing the efficacy and sincerity behind his proposals—a self-styled “masterclass in backward economics,” according to hosts Scott Galloway and Jessica Tarlov. They also discuss Gavin Newsom’s unexpected focus on the crisis facing American men and boys, centrist election takeaways, and round out the episode with lighter stories: a Texas Senate candidate’s OnlyFans following and the aesthetic phenomenon of the “Mar-a-Lago face.”
Key Discussion Points & Insights
1. The New York Mayoral Race & Political Vibes
- Discussion starts with a reflection on Curtis Sliwa’s claim of being offered $10 million to drop out of the mayoral race, and the shifting political coalitions in NYC.
- (03:07) Scott: “He claims that...he was offered $10 million to drop out. $10 million cash money.”
- Tarfov and Galloway analyze how voter turnout, narrow margins, and vibe-based campaigns colored the outcome, suggesting Mondami’s win felt bigger than it numerically was.
- Election prediction markets and gambling trends are raised, with concern over foreign (Middle East and China) bets influencing American election narratives.
- (06:07) Scott: “I would describe it as election interference. Do you really think the Chinese have a huge interest in the mayoral campaign?...how do we create more division?”
2. Trump’s “Affordability” Agenda & Economic Realities
- Trump’s post-election pivot to affordability: $2,000 tariff rebate checks, DOJ probes of meat price-fixing, deals with drug companies, and floating 50-year mortgages.
- (07:21–08:13) Recap of Trump’s shifting stance on affordability, including a Fox News clip:
- Trump: “More than anything else, it's a con job by the Democrats...Costs are way down.”
- (07:21–08:13) Recap of Trump’s shifting stance on affordability, including a Fox News clip:
- Galloway contends social media has accelerated misinformation and Trump’s economic comments rely on the “Big Lie” technique—repetition leads to belief.
- (08:57) Scott: “If you repeat a lie long enough, it feels less like a lie.”
- Tarlov critiques Trump’s tariff rebate plan as “bullshit” and a “marketing tool,” highlighting a $300 billion revenue gap by nonpartisan estimates.
- (10:48) Jessica: “They don’t even have the money from tariff revenue...it’s another marketing tool.”
- She notes the difficulty of obscuring economic pain: “It is very hard to make your lie stick because...you can go and see for yourself.”
- Scott breaks down the economic inefficiency and political incoherence of Trump’s plan.
- (15:10) Scott: “I’m going to raise the prices...and then I will run it through this administrative complexity...and then I’ll distribute checks to you.”
- “These tariffs are inflationary, inefficient, cost Americans...the biggest cost is non economic costs.”
- Advocates for basic financial literacy and criticizes both parties’ lack of economic honesty.
- Memorable moment: Suggests financial illiteracy is “conspiratorially” perpetuated by political parties.
3. Stimulus, Means Testing, & Intergenerational Theft
- Galloway critiques the Covid-era stimulus as “the greatest intergenerational theft in history.”
- (22:28) “When you bail out the baby boomer owner of a restaurant, all you’re doing is robbing opportunity from the 26 year old...that wants her shot.”
- Argues that only targeted, means-tested government stimulus is effective:
– “Recipients of the stimulus that had over $3,000 in the bank didn’t spend a cent.” – Emphasizes government should invest in universal childcare, tech, and education—not direct, indiscriminate cash relief.
- Tarlov adds that the abundance and misuse of relief funds fueled massive fraud:
- (27:14) “Our government is going to be clawing back money...at a moment of crisis for I don’t even know how long.”
4. Masculinity Crisis—Gavin Newsom’s Surprise Pivot
- Governor Newsom publicly acknowledges a crisis facing men and boys: suicide, school dropouts, graduation disparities.
- (34:17) Newsom: “Suicide rates, the dropout rates, the suspension rates are off the charts...Trump has done nothing...literally nothing for men and boys.”
- Newsom credits Scott Galloway for contributions to this space.
- Tarlov praises Newsom’s approach for side-stepping culture war terminology, instead emphasizing opportunity and affordability for all—successful messaging for Democrats in recent cycles.
- (35:33) Jessica: “Last week [Democrats] talked about affordability without social issues...the only color that matters to people is green.”
- Galloway addresses criticism of his pro-masculinity message and reflects on the feedback loop in public discourse. He asserts economic opportunity underpins male stability, but acknowledges emotional fulfillment and relationships are just as crucial.
- (37:35) Scott: “I still think bad relationships are better than no relationship because you learn from them...”
- Highlights the gendered impact of policy and the importance of universal benefits like childcare to help both women and men.
- (41:38) “It’s not about whether you have women or non whites in your cabinet. It’s about whether you have people who are qualified and quite frankly aren’t corrupt.”
- They compare modern and traditional feminism, discussing whether material policy or symbolic representation matters more to voters.
5. Political & Pop Culture Oddities—James Talarico and “Mar-a-Lago Face”
- James Talarico (Texas Democratic Senate candidate) is “outed” for following several OnlyFans models, causing an overblown media stir.
- (52:53) Scott: “Nobody minds a little horny Christian man, but it’s not exactly the kind of Christian values headline he was hoping for.”
- (54:01) Scott: “Any guy who spent a lot of time in a church and isn’t horny for women...this is a good sign. This is healthy.”
- Tarlov: “Because he’s like a normal dude and we’ve been craving normal dudes.”
- (55:47) Scott: “I think this actually helps him; I think this puts him in the news. I think he comes across as a red-blooded male.”
- Mar-a-Lago Face: Surgeons report a boom of Trump-inspired cosmetic procedures—“gold-leafed energy meets Botox maximalism.”
- (56:33) Jessica: “It’s like their Kardashian is Donald Trump.”
- Scott jokes about his own cosmetic interventions:
- (57:07) Scott: “My plastic surgeon suggested a scrotum lift. He said it was low hanging fruit.”
- Discusses the normalization of Botox and cosmetic procedures for men, blending humor with cultural commentary.
Notable Quotes & Memorable Moments
- On Political Messaging:
- Jessica (10:48): “It is very hard to make your lie stick [about the economy] because it is the one thing that you can go and see for yourself.”
- On Economic Policy:
- Scott (15:10): “I’m going to raise the prices...and then...distribute checks to you...Wouldn’t it be easier to let people decide where they want to spend their money?”
- On Masculinity:
- Governor Newsom (34:17): “Suicide rates, the dropout rates, the suspension rates are off the charts...Trump has done nothing...literally nothing for men and boys.”
- Scott (37:35): “I've always been...very focused on economic security and on men being providers in a capitalist society.”
- On Pop Culture Politics:
- Scott (55:51): “I’m convinced that essentially Instagram is either wealth porn or just porn. And I’m convinced their greatest signups are when YouPorn crashes.”
- Humor & Self-Deprecation:
- Scott (57:07): “My plastic surgeon suggested a scrotum lift. He said it was low hanging fruit.”
- Jessica (59:18): “It's really wrong. And she legitimately doesn't need plastic surgery. She's beautiful skin.”
Timestamps for Important Segments
- 03:07 — Curtis Sliwa’s “$10 million” claim and its political fallout
- 07:21 — Trump’s affordability about-face and Fox News soundbite
- 10:48 — Tariff rebates and “bullshit” economic math
- 15:10 — Galloway on fundamental backwardness of Trump’s plan
- 22:28 — Stimulus, intergenerational theft, and means testing
- 34:17 — Governor Newsom’s remarks on boys and masculinity crisis
- 41:38 — Gender, representation, and what good policy looks like
- 52:53 — James Talarico/OnlyFans, normalizing politicians as “real people”
- 56:33 — The Mar-a-Lago face and cultural cosmetic trends
Final Thoughts & Tone
Throughout, the show stays true to its centrist, conversational, and frequently irreverent tone. Galloway and Tarlov engage in sharp, data-driven analysis while trading barbs and asides, seamlessly blending humor with substantive critique. They conclude that Trump’s economic overtures are more political theater than plausible policy, celebrate a growing Democratic willingness to address overlooked issues like male well-being, and push back on culture war opportunism from both political extremes.