The Monocle Daily — Summary

Episode: Donald Trump’s approval rating falls to an all-time low. Plus: the latest Gulf news
Host: Andrew Muller
Guests/Panel: Chris Chermak (Monocle Senior News Editor), Inzamam Rashid (Monocle Gulf Correspondent), with contributor segments from Juliana Pigiotto (Barracuda Hotel Group CEO) and more
Date: December 12, 2025

Overview

This episode explores two central themes: the sharp decline in President Donald Trump's approval ratings, particularly relating to his handling of the US economy, and key developments in the Gulf, especially the UAE's deepening ties with Russia and growing international influence. The episode also features an interview with a Brazilian hotelier blending local and Scandinavian styles, plus a satirical look at recent global headlines.

1. Trump’s Plummeting Economic Approval (00:43–12:29)

The Numbers and What’s Gone Wrong

• President Trump’s economic approval has dropped to an all-time low—31%—amid persistent inflation and rising unemployment.
• Chris Chermak: “Annual inflation rate, it’s up. Inflation is up 3% in September, year on year. That’s the highest since January ... Unemployment, 4.4% in September. That’s the high since October 2021.” (03:13)
• Economic data is incomplete due to a government shutdown, deepening voter confusion and eroding confidence.

The Mood of the American Public

• Consumer sentiment “at its second lowest level on record” per University of Michigan surveys, reflecting widespread pessimism (04:28).
• Voters are frustrated by price increases and skeptical of Trump’s repeated claims that things were worse under Biden.
• Chermak: “Calling affordability a hoax ... this is what’s making Republicans nervous. Because prices, it’s black and white. People go to the grocery store, they see that the prices are still rising.” (05:09)

Polarization & Approval Demographics

• Approval remains sharply divided by party: 69% of Republicans down from 78%, only 7% of Democrats approve (07:15).
• Panelists discuss how economic optimism flips according to which party is in power, regardless of actual conditions.
• Moderate drops in Trump’s support among minority groups and concerning cracks among previously steadfast Republicans noted.

Potential GOP Fractures

• Panellists speculate about major figures like Marjorie Taylor Greene distancing from Trump, arguing that if “prices are going up, that’s the thing that costs you elections... The economy’s stupid.” (09:52)

Trump’s Strategic Dilemma

• Chermak: “He isn’t leaning into that argument right now. He wants to say this economy is the greatest ever and ignore any possible negatives ... Maybe he does lean into that and say, some pain is good, some pain is necessary.” (11:17)
• Trump could admit sacrifices are required or attempt a centrist pivot, perhaps by dealing with Democrats on affordability or healthcare.

2. Gulf Region Highlights — UAE & Beyond (12:29–21:14)

UAE’s Warming Ties with Russia (13:38)

• UAE-Russia trade may double by 2030, driven by the UAE's open-doors economic approach and the effects of Western sanctions on Russia.
• Inzamam Rashid: “Sanctions reshaped Russia’s global links and redirected capital, talent, commerce towards more neutral markets. Dubai is really the chief amongst all of them.” (14:14)
• Visible influx of Russians—new restaurants, luxury vehicles—signals this transformation.

The British “Brain Drain” Debate (15:56)

• Former PM David Cameron warns of a British “brain drain” to the UAE, possibly taking a swipe at the current UK government.
• Rashid downplays a mass exodus of British millionaires but does note an increase in Brits with job security moving to the UAE.
• Rashid: “There’s no actual real data that is suggesting that ... ultra-high net worths are fleeing Britain.” (17:03)

Formula 1, Emirati Prestige & Leadership (18:13)

• Mohammed Ben Sulayem’s re-election as FIA President seen as a big win for UAE, underpinning F1’s transformation from sport to luxury spectacle.
• Rashid: “[His] tenure kind of coincides with Formula One’s continued evolution from sport to a luxury entertainment platform.” (19:10)
• Attendance at Abu Dhabi GP reached record highs.

Life in Riyadh’s Diplomatic Quarter — A Preview (20:09)

• Rashid offers a glimpse into his upcoming reporting from Riyadh, Saudi Arabia, focusing on diplomatic life and expat communities.

3. Global Feature: Sustainable Brazilian Hospitality (21:44–28:32)

• Interview with Juliana Pigiotto, founder of the Barracuda Hotel group in Itacaré, Brazil.
• The hotel’s evolution is tied to her personal journey, spanning from a meeting with her husband to years of organic growth supported by local and Swedish collaborators.
• Pigiotto: “The sustainability we see in Barracuda, it was not an afterthought ... our decision-making, the only way for me to develop a hospitality project was to collaborate with local people...” (23:44)
• 80% of hotel staff are local, and the hospitality combines Brazilian roots with Scandinavian elegance.

4. Week in Review — Satirical Wrap-up (28:54–36:40)

FIFA “Peace Prize” Parody (28:54–33:22)

• The show closes with a tongue-in-cheek examination of FIFA’s new “Peace Prize,” awarded to Donald Trump—a clear nod to the performative nature of international awards.
• Features memorable audio clips and references to Trump’s boasts about Nobel nominations.
• Donald Trump (satirical): “I think I’m going to get a Nobel prize for a lot of things if they gave it out fairly, which they don’t.” (30:05)

Cultural Digs — Sarkozy’s Prison Diary (34:49)

• Humorous treatment of former French president Nicolas Sarkozy’s new memoir about his brief stint in prison.
• Playful comparisons to Solzhenitsyn’s “Gulag Archipelago,” and snarky takes on French prison cuisine and amenities.

Memorable Quotes & Moments

• Chris Chermak, on partisanship: “It is fascinating to watch how things flip at an election ... it literally switches. You see it in the data.” (07:45)
• Inzamam Rashid: “Dubai and the UAE is not a place where you can do that. You come there, you can spend all your money instantly… and a lot of them end up coming back.” (17:09)
• On FIFA Peace Prize: “A medal which, to be clear, absolutely does have any more gravitas than a plastic sheriff’s badge which fell out of a box of Fruit Loops.” (32:12)

Notable Timestamps

• Trump’s economic approval, inflation & sentiment: 03:00–06:15
• Partisan splits & Republican “cracks”: 07:15–09:17
• UAE-Russia economic ties: 13:38–15:56
• Formula 1 in the UAE: 18:13–20:09
• Barracuda Hotel origin & philosophy: 21:44–28:32
• FIFA Peace Prize parody: 28:54–33:22
• Sarkozy prison diary satire: 34:49–36:00

Tone

• Characteristically witty, lightly irreverent, and globally knowledgeable—balancing sharp reporting with clever banter and cultural commentary.

This summary captures the key insights and conversational highlights of the episode, providing a rich overview and clear map of the discussions for anyone who missed the broadcast.