The Late Show Pod Show with Stephen Colbert
Episode: Cate Blanchett | No Money, More Problems
Release Date: March 11, 2025

1. Opening Monologue: Economic Turbulence and Political Satire ([01:47] - [14:22])

Stephen Colbert opens the episode with his signature blend of humor and sharp political commentary. He tackles the abrupt stock market drop, noting, “The Dow Jones dropped 890 points. Now I don't know a lot of financial jargon, but let's just say your 401 is not K” ([02:15]). Colbert mocks Fox Business correspondent Charlie Gasparino’s optimistic take on the market's volatility, likening his advice to that of a shaman: “He's going to unleash the sort of animal spirits” ([03:00]).

Delving into the administration's economic policies, Colbert highlights the Atlanta Fed’s report on GDP contraction, stating, “Growth in the current quarter was a stunning negative 2.8%, signaling that the GDP is shrinking at the fastest pace since the pandemic lockdown” ([04:10]). He criticizes former President Trump's tariffs, suggesting they are more detrimental than beneficial: “This time, he is the disease” ([04:50]).

Colbert further satirizes Trump’s approach to Diversity, Equity, and Inclusion (DEI) programs, mocking the administration’s efforts to eliminate certain words: “Sell it with sizzle, fellas. KFC's going to go from 'it's finger licking good' to 'it's finger good'” ([09:00]). He underscores the absurdity of policies targeting common language, pointing out ironic examples like the removal of the Enola Gay photo: “They're being so literal that one of the things they took down… is gone” ([10:15]).

International relations receive a humorous treatment as Colbert discusses Trump’s strained interactions with UK Prime Minister Keir Starmer and King Charles, poking fun at the latter’s foray into podcasting: “As part of his new radio show, the King released a curated playlist that includes songs like 'Crazy in Love' by Beyonce” ([11:00]).

2. Guest Introduction and Initial Banter ([14:22] - [15:14])

Stephen Colbert transitions to welcoming his guest, the acclaimed actress Cate Blanchett. He introduces her with enthusiasm, “My first guest this evening is an actor, you know from the Lord of the Rings films, Blue Jasmine and Tar. She now stars in Black Bag” ([14:22]). Blanchett engages in playful banter, referencing their on-screen characters and setting a light-hearted tone for the interview.

3. In-Depth Interview with Cate Blanchett ([15:25] - [26:37])

a. Current Projects and Theatrical Pursuits ([15:25] - [16:20])

Cate Blanchett discusses her role in the play Seagull at the Barbican, highlighting her character dynamics: “We’re doing the Seagull and Tom Burke, who's actually in Black Bag with me, is also in the play” ([15:41]). She elaborates on the play’s themes, emphasizing the generational clash: “There’s the anger of a younger generation at being... having their opportunities taken away by an older generation” ([19:00]).

b. Transition to Film: Black Bag ([23:02] - [25:50])

Shifting focus to her latest film, Black Bag, Blanchett shares insights into her character and collaboration with co-star Michael Fassbender: “The amazing thing about Michael’s performance is he’s so still and so quiet” ([23:22]). She humorously reflects on her spy persona, admitting, “I think I'd be a terrible spy… I need to share how outrageous that is” ([23:36]).

Colbert and Blanchett discuss the film’s intricate plot involving espionage and trust, with Blanchett noting the complexities of playing a devoted wife who is also a suspect: “They’re devoted to each other and she’s the suspect” ([24:00]). The conversation touches on acting challenges, such as performing complex scenes like writing while speaking: “It's so difficult to write and speak at the same time” ([25:50]).

c. Personal Anecdotes and Early Passion for Acting ([20:29] - [21:44])

Blanchett shares nostalgic memories of her early interest in performance, recounting how she would record her parents’ arguments and reenact them: “I would spy… I was really dangerous but really exciting” ([21:00]). Colbert draws parallels to Shakespearean drama, humorously linking her childhood antics to scenes from Hamlet: “You bugged them…but…you were naturally Shakespearean” ([21:36]).

d. Collaboration with Husband Andrew Upton ([24:51] - [25:03])

The conversation naturally shifts to Blanchett’s collaborative work with her husband, Andrew Upton. Colbert highlights their joint projects and creative synergy: “You’ve collaborated. Many times. Even started a company and four kids” ([24:59]). Blanchett reflects on balancing professional and personal life, emphasizing the strength of their partnership both on and off-screen.

e. Humorous Exchange and Gift Exchange ([16:53] - [18:27])

Adding levity to the interview, Blanchett presents Colbert with a pair of socks emblazoned with British colloquialisms like “slap and tickle”: “Slap and tickle is slightly flirtatious before you have sex” ([17:14]). Colbert humorously interacts with the gift, promising to surprise his wife and engaging in playful wordplay: “Rumpy pumpy” ([18:00]).

4. Conclusion and Final Remarks ([26:37] - [27:13])

As the interview wraps up, Blanchett offers final thoughts on her roles and expresses gratitude for the opportunity to share her experiences. Colbert invites listeners to watch Black Bag in theaters and promotes additional content available on The Late Show’s YouTube channel. The episode concludes with a final light-hearted exchange before transitioning to another advertisement segment.

Notable Quotes

• Stephen Colbert on Market Drop: “The Dow Jones dropped 890 points. Now I don't know a lot of financial jargon, but let's just say your 401 is not K.” ([02:15])

• Cate Blanchett on Being a Spy: “I think I'd be a terrible spy… I need to share how outrageous that is.” ([23:36])

• Stephen Colbert on DEI Program Cuts: “Sell it with sizzle, fellas. KFC's going to go from 'it's finger licking good' to 'it's finger good'.” ([09:00])

• Cate Blanchett on Early Acting Interests: “I would spy… I was really dangerous but really exciting.” ([21:00])

Insights and Conclusions

This episode of The Late Show Pod Show masterfully blends topical satire with an engaging celebrity interview. Stephen Colbert's incisive monologue offers a humorous yet critical take on recent economic challenges and political maneuvers, setting the stage for a meaningful conversation with Cate Blanchett. Blanchett’s insights into her roles and the intricacies of acting provide listeners with a deeper appreciation of her craft, while the playful interactions between host and guest enrich the overall listening experience. The episode encapsulates the essence of late-night commentary—informative, entertaining, and thoughtfully delivered.