On The Record (5-19-26).

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 -- If you like #UNFTR, please leave us a rating and review on Apple Podcasts and Spotify: unftr.com/rate and follow us on Facebook, Bluesky, and Instagram at @UNFTRpod. Visit us online at unftr.com. Become a member at unftr.com/memberships. Buy yourself some Unf*cking Coffee at shop.unftr.com. Visit our bookshop.org page at bookshop.org/shop/UNFTRpod to find the full UNFTR book list, and find book recommendations from our Unf*ckers at bookshop.org/lists/unf-cker-book-recommendations. Access the UNFTR Musicless feed by following the instructions at unftr.com/accessibility.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.