This week we dug into the Treasury’s TIC data—the report nobody reads but everybody should—which shows central banks quietly stepping back from U.S. debt while private money fills the gap. That’s a problem when you’re carrying $39 trillion and yields are climbing. Then we looked at what that actually means at the kitchen table: record household debt, credit card rates near 24%, and an inflation measure that doesn’t even count the cost of carrying all that debt.

Chapters

Intro: 00:00:38

Quick Takes: 00:01:34

Max Notes: 00:06:34

Killer Left Take of the Week: 00:19:12

Chart of the Week: 00:21:25

Headlines: 00:23:00

Pod Love: 00:25:02

Book Love: 00:25:58

Outro: 00:26:15

Resources

CNBC Television: Squawk Pod: Scott Bessent from Beijing

CNBC Television: President Trump: Had extremely positive and productive meetings today

Yahoo! News: CNBC’s Jim Cramer Left Literally Speechless by Trump’s Personal Stock Trades

Bloomberg Television: US Faces Challenging Summer Gas Season, BofA’s Blanch Says

U.S. Department of the Treasury: Treasury International Capital Data for March

Signified B Sides: Kevin Hart is a Symptom...

Polygraph: Falling wages, spiraling credit card debt

New York Times: Over 100,000 Family Separations in Deportation Push, Report Estimates

Truthdig: Cuba Announces That Its Fuel Reserves Have Been Depleted

Mother Jones: Memphis Is “Under Full-Blown Occupation” by ICE. Here’s Why You May Not Know That.

Pod Love

Best of the Left: Capitalist Class Warfare: AI, Billionaire Capture, and the How to Fight Back

Book Love

Unf*cker Book Recommendations

UNFTR Resources

Video: On The Record 5/19/26 (Treasury Numbers Don’t Lie | Jim Cramer Melts Down | BofA Shocker)

Video: They Hide These Economic Words From You—Here’s Why

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