Consumer sentiment is in the basement. Jobs aren't being added. Prices keep climbing. GDP barely grew at the end of 2025, and a ‘meh’ 2% last quarter. Shouldn’t this be a recession? Not so far. Economist Kathryn Anne Edwards walks through the clear cause of each bad number: Tariffs explain the prices and foul mood. Mass deportations explain the jobs. The government shutdown explained last quarter. Still, knowing the passing reasons for economic pain doesn't make it hurt less. And none of it changes the long-term economic reforms we still need.

Chapters: 

00:01:06 Announcements

00:01:57 Retcon: Wealth at retirement

00:03:52 Terms & Conditions: Recession, Slack, Tight, Loose, Goodflation/Badflation

00:09:10 Centerpiece: What is going on with the U.S. Economy right now? The vibe is don’t panic. But don’t not panic. 

00:53:38 Executive Orders: Free work parking. Legislators do their own taxes.

00:55:00 Spiritual Sponsors: Genre-specific bookstores and great newstands

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