The Breakdown

View Top 200 Chart

Back to Rankings Page

Latest Episodes:

Social Media Is Democracy’s Faultline: The Breakdown Weekly Recap Jul 18, 2020

Show notes

On this edition of the Weekly Recap, NLW explores:

No-volatility bitcoin and DeFi’s big quarter
An uptick in central bank currency action
PayPal crypto confirmation
A China-U.S. rhetoric flare up
Social media as democracy’s fault line
In Fed World, is the narrative trade the only trade?

What If the Too-Strong Dollar Is a Solved Problem? Feat. Jon Turek Jul 18, 2020

Show notes

Today on the Brief:

The latest information in the Twitter hack
Thailand starts using its central bank digital currency
Treasury Secretary Mnuchin calls on Congress for more funds

Our main conversation is with Jon Turek, author of “Cheap Convexity.”

In this conversation, he and NLW discuss:

Why the dollar has gotten stronger thanks to a savings glut from Asia
How a too-strong dollar hurts other markets more than the U.S.
Why globalization died in 2011 and we just didn’t realize it
How the Fed fixed the global dollar plumbing
Why there are still questions of actual dollar shortages
The detente in U.S.-China financial relations

Find our guest online

Website: Cheap Convexity

Twitter: @jturek18

No, the Twitter Hack Wasn't about Bitcoin Jul 17, 2020

Show notes

Today on the Brief:

Adjustment to bank profits in anticipation of growing debt delinquency
The lowest decrease in jobless claims since March
A boost in retail spending

Today’s main discussion: The Great Twitter Hack, feat. Dr. Tom Robinson, chief scientist and co-founder of Elliptic

Wednesday, at around 2:15 p.m. EDT, prominent Crypto Twitter accounts started sharing a similar message about a bitcoin giveaway. A couple of hours later, Elon Musk and Bill Gates were saying they were feeling generous and wanting to give bitcoin away. A couple more hours and every verified blue check mark account on Twitter was taken down.

It was an attack with massive implications, if not much monetary gain.

On this episode NLW breaks down:

What happened
Which accounts were impacted
How much BTC was transferred
The narrative battle of “bitcoin scam” vs. “Twitter hack”
Why it might have been a state-sponsored attack
Why the real intention might have been to discredit Twitter
Why the (supposed) revelations about Twitter’s administrative tools could end up in a congressional inquiry

Expert commentary provided by Dr. Tom Robinson. Find our guest online:

Elliptic website: Elliptic.co
Twitter: @tomrobin

A Primer on the US and China's 'New Cold War' Jul 16, 2020

Show notes

No geopolitical relationship will shape the world over the coming decade as much as that of the U.S. and China.

A day after President Trump signed the Hong Kong Autonomy Act enabling sanctions on those that threaten the autonomy of China (and the companies that do business with them) and the UK worked to ban Huawei 5G infrastructure, this episode of the Breakdown looks at the key faultlines and issues that have that relationship in a dangerous downward spiral:

Virus blame recriminations
Trade war tensions
The Hong Kong Security Law
Huawei 5G and critical digital infrastructure
TikTok
India border skirmish
South China Sea Military Exercises
The politics of labeling this a “new cold war”

Why Are Execs of Bankrupt Companies Being Rewarded With Millions? Jul 15, 2020

Show notes

Today on the Brief:

A followup on Tesla, corporate earnings and PayPal’s crypto ambitions
New COVID-19 shutdowns in California
Small businesses on the brink

Our main conversation:

Bloomberg has reported recently bankrupt companies including J.C. Penney and Hertz had provided executives with more than $131,000,000 in bonuses.

On this episode of The Breakdown, NLW examines:

The logic behind these bonuses
Why that logic is stupid
How this sort of reward for personal failure in the wake of 2008 led to the rise of populism on the right and left
Why we should allow companies to fail
Why people’s sense that the system is a crony system isn’t wrong

The Real Story Behind Tesla's Crazy Rally Jul 14, 2020

Show notes

Today on the Brief:

Wall Street quarterly earnings season opens
Investor flock to higher-yielding Chinese government bonds
Bitcoin whales go down but other types of HODLers go up

Our main conversation: What the hell is going on with $TSLA?

Elon Musk is now richer than Warren Buffett. A year ago, Tesla wasn’t as valuable as Ford or GM. Now it’s more than 25% of the value of the auto market as a whole.

In this episode, NLW looks at a set of possible explanations:

Elon as a Golden God/the cult of personality
Tesla as an innovative tech company
Better-than-expected vehicle delivery
The mother of all short squeezes
Robinhood effect
Mr. FEDerico
Narrative Market Machine

In the end, NLW argues that in a world where 1) the new retail base is willing to engage in narrative and meme warfare and 2) where the Federal Reserve distorts prices, the narrative market machine becomes more of a driver of prices than ever before.

Does COVID-19 Have The World Rethinking Dollar Supremacy? Jul 12, 2020

Show notes

On this episode of Long Reads Sunday, we look at Professor Stephen S. Roach’s piece “The Covid Shock To The Dollar.”

In it, he argues:

Americans have been squandering their savings potential
Because of this, we are forced to borrow surplus savings from abroad
We have usually been able to do this on favorable terms
That window may be coming to a close
There could be a 35% drop in the dollar over the next 2-3 years

The Mixed Signals Economy: The Breakdown Weekly Recap Jul 11, 2020

Show notes

On The Breakdown’s Weekly Recap, NLW explores:

The final tally on the TikTok Doge viral campaign
The growing geopolitical tension between China and the US and where it’s manifesting
Positive economic indicators in reduced jobless claims
Negative economic indicators in growing COVID-19 cases and deaths
Why bitcoin is sideways
Why Treasury yields are down
Why gold is up

Against Outrage Culture: Why Michael Krieger Ended Liberty Blitzkrieg Jul 11, 2020

Show notes

Today on the Brief:

Hong Kong re-closes schools based on COVID-19 growth
Coinbase explores direct U.S. exchange listing
China starts selling stock, easing massive rally

Our main conversation is with Liberty Blitzkrieg creator and editor Michael Krieger. Michael announced just before recording that he is done publishing on the LB site. He and NLW discuss:

How Michael became disaffected while working on Wall Street during the Great Financial Crisis
How Zero Hedge amplified Liberty Blitzkrieg and sent Michael on a decade-long writing path
How Michael discovered bitcoin and the bitcoin community in 2012
Why social media platforms need to be regulated with the principles of the First Amendment
How all political parties use division to stay in power
How outrage culture has become endemic, commodified and co-opted by existing power
Why the only option to fight outrage culture is to opt out

Find our guest online:Website: libertyblitzkrieg.com

Twitter: @LibertyBlitz

Social Chaos and Bankruptcy Rallies: The Best Insights From FinTwit June 2020 Jul 10, 2020

Show notes

Today on the Brief:

Slight good news in new and continuing jobless claims
Record corporate equity and debt sales during the crisis
USDC freezes $100k

Our main conversation: Introducing the Macro Media Index.

The Macro Media Index is a monthly summary of the best macroeconomic tweets, essays, podcast and videos from around the internet.

In this inaugural edition, NLW looks at a few key themes:

The disconnect between the market and the real economy
The role of the Fed and monetary policy in growing wealth inequality and social unrest
The Robinhood Rally and bankruptcy bet that took institutional investors by complete surprise
The great inflation vs. deflation debate

Featuring insight from previous Breakdown guests including Luke Gromen, Lyn Alden, Jesse Felder, Preston Pysh and more.

Our TOPPODCAST Picks

Follow Us

Stay Connected

Related Podcasts

Links

Stay Connected