Boil the Frog

On this episode

About this episode

Scott Bessent knows something that we don't. Luke Gromen has spent his whole career reading the fine print of America's balance sheet, and his conclusion is stark: the quiet interventions coming out of Washington - doubled bond buybacks, a yen rescue, a sudden fondness for stablecoins - aren't policy. They're symptoms. The arithmetic of debt, entitlements, and interest has crossed a threshold from which, Gromen argues, there are only three exits, and none of them are painless. We've got a crisis hiding in plain sight - and someone is gunna end up paying for it. -- Timestamps: (00:00) - Welcome and Guest Intro (00:21) - Past Episode Reflections (00:49) - Bitcoin and AI Disagreements (01:58)…