Robert Wolf — former UBS Americas chairman and Obama economic adviser — is back for another weekly fireside chat with Tara, and the numbers are brutal. GDP collapsed to half a percent, the CPI came in at 3.3%, and gas prices spiked 21% in a single month — the largest increase since 1967. Robert breaks down why stagflation is no longer a hypothetical, how the Iran war is creating an energy shock that's driving every indicator in the wrong direction, why Buy Now Pay Later is becoming a trap for younger Americans, and what it would actually take for the economy to recover. Plus: Kevin Hassett gaslighting on Fox, Iran potentially making $57 billion a year off a Strait of Hormuz toll, and Tara's Gen Z producer says no one coming out of college has jobs. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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