The Indicator from Planet Money

Episode: ICE raids, cooling on capitalism, and a Murdoch settlement

Date: September 12, 2025

Hosts: Waylon Wong, Adrienne Ma, Mary Childs

Overview

This episode explores three major stories through a signature “indicator” for each:

• Americans’ shifting attitudes on capitalism and socialism,
• The complexity behind a major ICE raid at a Hyundai plant in Georgia,
• The conclusion of the Murdoch family’s real-life succession drama with a multibillion-dollar settlement.

Each host presents an important number tied to these news events, unraveling their broader economic and social implications with insight, data, and trademark wit.

Key Discussion Points & Insights

1. Cooling Sentiment on Capitalism (Gallup Poll)

Indicator: 54%
Segment: [02:08 - 04:46]

• Adrienne Ma introduces a new Gallup poll revealing that only 54% of Americans have a favorable view of capitalism, down from 61% in 2010.
  • "It's actually a 7 point decline from when Gallup first asked this question to people in 2010." (Adrienne Ma, 02:32)
• Notably, 39% expressed a favorable view of socialism, up slightly from 36% in 2010.
  • "Socialism kind of coming strong now..." (Adrienne Ma, 03:32)
• The poll asked respondents for positive or negative “images” of terms, without imposing strict definitions.
  • "You would get a hundred different answers." (Mary Childs, 03:54)
• Gallup analyst Jeffrey Jones attributes the decline to:
  • Rising populist sentiment,
  • Shifting views among younger Americans,
  • Even some younger Republicans are less hostile to socialism.
  • "Younger people in general seem less hostile to the idea of socialism than people from older generations. And that even goes for young Republicans." (Adrienne Ma, 04:40)
• Memorable reaction:
  • "Oh, socialist Republicans. I'm gonna have to sit with that one." (Mary Childs, 04:43)

2. ICE Raid at Hyundai Plant in Georgia

Indicator: 475
Segment: [04:54 - 07:56]

• Mary Childs details an ICE raid that detained around 475 people at a Hyundai-LG battery plant, many of whom were South Korean nationals.
  • "That is about how many people were detained after a raid at a Hyundai plant in Georgia last week." (Mary Childs, 04:54)
• The incident underscores a policy paradox:
  • US government incentivizes foreign investment,
  • But doesn’t supply enough visas for specialized workers needed for large-scale projects.
  • "It's all because of this sort of absurd tension between two US policies." (Mary Childs, 05:37)
• Despite a low unemployment rate (4.3%), there aren’t enough American workers with the required skills for advanced manufacturing.
  • "We just haven't been doing manufacturing here. So our workforce does not have the experience or the expertise in these areas." (Mary Childs, 06:13)
• Companies bring in foreign workers using inappropriate visas (like B1, for business but not pay), often through contractors—an “open secret” until recent enforcement.
• Timing complicated US–South Korea relations, as both nations were finalizing a major trade deal with billions at stake.
  • "The raid just so happened right as the US and South Korea were nearing the finish line on a trade deal." (Mary Childs, 07:24)
• Latest: Secretary of State Marco Rubio met with South Korean officials; most detainees are returning home.
  • "Most of the South Korean national who were detained are flying home." (Mary Childs, 07:46)

3. Murdoch Family Succession Settlement

Indicator: $3.3 billion
Segment: [08:08 - 10:13]

• Waylon Wong uses the lens of HBO’s “Succession” to discuss the real Murdoch family saga.
  • "I'm actually not talking about the finale that aired on HBO. I'm talking about the finale to the real life succession saga involving the Murdoch family..." (Waylon Wong, 08:15)
• Rupert and Lachlan Murdoch buy out three of Lachlan’s siblings (James, Prudence, Elizabeth) for $1.1 billion each, cementing Lachlan as heir to the media empire.
  • "They each get $1.1 billion." (Waylon Wong, 08:52)
• The trust structure, dating to 1999, intended equal control for four siblings post-Rupert; splits over ideology (Lachlan more conservative, closer to Rupert) drove legal battles.
• Rupert Murdoch argued that Lachlan’s sole leadership would maintain the company’s value—i.e., the conservative identity of their media outlets.
  • "The company's value would be best preserved if Lachlan could run things without his siblings trying to, you know, take the company in a more moderate direction." (Waylon Wong, 09:41)
• New trust: siblings are bought out and have no say in company operations.
  • "There's a new trust. Lachlan siblings will not get a say in how the company is run. But… we are each a billion dollars richer. I wonder how they feel about capitalism." (Waylon Wong, 10:13)

Notable Quotes & Memorable Moments

• "54%...just over a majority of respondents said they have a favorable view of capitalism. And that is my indicator this week."
  • Adrienne Ma, 02:32
• "Oh, socialist Republicans. I'm gonna have to sit with that one."
  • Mary Childs, 04:43
• "We just haven't been doing manufacturing here. So our workforce does not have the experience or the expertise in these areas. So maybe domestic workers could get trained, but certainly not on the timelines that these projects mandate."
  • Mary Childs, 06:13
• "The raid just so happened right as the US and South Korea were nearing the finish line on a trade deal."
  • Mary Childs, 07:24
• "Rupert Murdoch sued the other three, right?"
  • Mary Childs, 09:39
• "But… we are each a billion dollars richer. I wonder how they feel about capitalism."
  • Waylon Wong, 10:13

Timestamps for Key Segments

• [02:08] Indicator 1: Declining Favorability of Capitalism (Gallup Poll)
• [04:54] Indicator 2: ICE Raid at Hyundai Plant and Policy Tensions
• [08:08] Indicator 3: Murdoch Family Succession Settlement

Tone & Energy

Throughout, the hosts balance clarity, insightful economic context, and a conversational, playful tone. They use humor and relatable pop culture references (“Succession”) to make big economic and policy shifts feel accessible.

Summary

This Indicator episode brings depth to three major economic stories—a retreat from pro-capitalist consensus, real-world immigration dilemmas complicating US industrial ambitions, and the billion-dollar conclusion of a trans-national media dynasty's family intrigue. With numbers as entry points and banter that clarifies the news, it delivers sharp, digestible analysis for listeners wanting to keep up with the ever-shifting economic and business landscape.