I sat down with Elizabeth Spiers, founding editor of Gawker, former editor of The New York Observer and now a columnist for the Times, to discuss this year’s annual TPM Membership Drive and today’s media landscape. We discussed journalist independence, membership business models and why in the Trump Era only truly independent media can tell the truth without fear or favor.

I hope you give it a look.

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It’s no great insight to say Trump’s impulsive Iran War has been a big political loser for him. Even some of his and the war’s supporters would concede that point. “Katrinas” are also wildly overdetermined and over-diagnosed in political talk. How many “Obama’s Katrinas” were there? How many did Joe Biden allegedly have? But it did occur to me this morning that it is something like that for Trump but for a specifically Trumpian reason. Donald Trump’s great super power is changing the subject. He never sticks to one racket or con until its rung out of all its juice. He’s always on to some new thing because — long before we lived in the broken world of social media — Trump has always lived in the attention economy. Attention is the great commodity. It’s even more powerful for Trump as a defensive weapon. When something isn’t going great he’s always creating some new drama, some new thing to change the subject to. But what we’re seeing now is that Trump simply cannot change the subject. The whole Iran War story is devastatingly bad for him. And he simply has no way to stop it from being the big, dominating story. He can’t make any shiny object take its place. He’s stuck, not just militarily but politically as well.

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You’ve probably seen the story about how, at a DOD presentation, Secretary of Defense Pete Hegseth quoted what he apparently thought was a bible verse but was in fact the faux biblicalism delivered by Samuel L. Jackson’s character, Jules Winnfield, in Pulp Fiction. There’s a lot here. Yes, the faux godly Hegseth should really be a bit more versed in the bible. But it’s really perfectly apt that he’s not. If you remember, Winnfield is a hitman, a killer, a man of meaningless violence. He wraps his murders in stylized bible verse imitations to give them some mix of giving them retributional ooomph and just for kicks. Is there any better description of Pete Hegseth? I can’t think of one. Hegseth’s brand of Christian nationalism is a permission structure for domination and violence. The biblical text is a source of handy quotes to the extent it advances those aims. But he’s neither smart enough nor serious enough to mine the text in any serious way. He’s just a different version of Jules Winnfield.

Yesterday I noted G. Elliott Morris’s argument that extremely poor consumer sentiment in the U.S. is no mystery once you look properly at what Americans mean when they talk about prices and inflation. In short, just because prices stopped going up in the second half of Joe Biden’s presidency didn’t mean the public stopped being mad about them going up (and staying up) in the first half of his term. I’m pretty certain that this explains a lot about what sank Biden’s presidency and the dynamics of the 2024 election. But does it explain what’s happening now? When I wrote yesterday’s post, TPM Reader SB agreed, but argued that it went beyond that — that the still-declining consumer sentiment, the extremely sour public mood goes beyond the post-COVID inflation shock. It’s also about extreme wealth inequality, SB argued. Then, this morning, Paul Krugman began what he says will be a series of posts on his Substack in which he argues that while he agrees with the “excess price” framework, he’s not sure it’s a sufficient explanation.

Krugman didn’t really get into what exactly he thinks it is. As I said, he said he’ll address it in a series of posts. But the gist is that there’s a larger politico-economic explanation that goes beyond how long people stay mad about prices. Krugman says he thinks the deepening sense of economic gloom is driven by the fact that the public was upset about inflation, voted to move in a direction and then had the new guy do basically everything he could to stoke more inflation into the economy and generally whipsaw the economy in 20 different directions for a series of bizarre and obscure ideological fascinations.

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The U.S. and Iran both announced this morning that the Strait of Hormuz is now fully open for the duration of the current ceasefire between Israel and Hezbollah. While the news is positive on the surface for global commerce and the global energy-economic crisis, few developments better illustrate the situation Donald Trump and Benjamin Netanyahu have gotten the U.S., the global economy and Israel into. What we see now is that the health of the global economy is, going forward, subject to fighting between Hezbollah and Israel. In a way Iran has always had a tacit or latent hold on the Strait of Hormuz. Simple geography tells you that. But it was only when Trump forced the matter that Iran learned how comparatively easy a lever that was to pull. They didn’t have to sink any oil tankers and even seriously damage one. They just had to issue threats and do some drone harassment. Maritime insurance markets would take care of the rest. There’s no way not to see this as a massive strategic win for Iran.

In the middle years of the Biden administration there was an idea that right-wing dominance of the media ecosystem, or simply social media breaking people’s brains, had blinded people to the fact that inflation was actually coming down fast. Indeed, by the time the 2024 election came around, inflation had come down dramatically and was close to what economists consider optimal — between 2% and 4%. (For all the ribbing economists took about predicting the COVID inflation would be “transitory” by any historical metric, it was.) Yet most people refused to believe that inflation had, in fact, been subdued. And “affordability” continues to be the political buzzword of the day going into the 2026 midterm elections. But this always struck me as a basic failure of analysis, imagining that the public at large and economists mean the same thing by inflation. They don’t. That should be obvious. And it probably is obvious to most of us. But a lot of us, including myself for at least part of the time, failed to draw out the proper conclusions.

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Late last month, Layla A. Jones wrote a piece for us detailing the ways in which Trump’s attack on Jerome Powell had “backfired royally.” It’s only gotten worse since then.

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There is a lot that has Republicans divided right now. Is it actually good to demand the pope stay in his lane? JD Vance thinks so. Catholics aren’t so sure. Is it actually good for the president to post a picture of himself as the Lord and Savior Jesus Christ? Evangelicals aren’t so sure. Is there some irony in a president who campaigned on opposition to forever wars launching attacks that kill the leadership of a powerful country of 93 million? There may be. Are young Republicans and right-wing influencers too antisemitic, or, in fact, not antisemitic enough? Opinions among the increasingly Groyperfied class of up-and-coming GOP staffers vary.

It’s against this backdrop that we have Josh Kovensky’s piece this morning, which finds Republicans in Texas doing a hard pivot to Bush II-type freakouts about “Sharia law” as a way to get the base energized and juice turnout in Texas’ Republican primaries and runoffs — and, they hope, ultimately in the midterms. With so much dividing Republicans, Ken Paxton, Greg Abbott, activists throughout the state and beyond have found it prudent to take their bigotry back to the basics and focus on ginned up claims of a fake Islamic threat. Texas’ Muslim residents are the collateral damage.

This piece follows another, related Josh K. dispatch from Texas, looking at conservative influencers’ attempts to stoke panic around a growing Dallas-area Indian community. (To support more of this on-the-ground journalism, become a member!)

I wanted to make sure you had a chance to read this piece TPM’s Hunter Walker published over the weekend about “challenge coins” being distributed at the mass deportation hub in Minneapolis celebrating operating “metro surge,” the ICE invasion that resulted in the deaths of Renee Good and Alex Pretti in addition to longer litany of abuse, violence and general predation. As you can see, the visuals are some mix of first person shooter and Aryan Nations rally. As we note in the piece, it’s hard to know at just what level of officialdom these trinkets were produced and signed off on. But they’re artifacts of the violent and degenerate culture that spawned those two murders. If you didn’t get a chance to read it this weekend I hope you will now.

In addition, there are cases like this from ICE offices around the country. So we are looking for more examples. If you’ve been privy to similar instances — maybe you’ve seen similar challenge coins distributed around other ICE or CBP operation — please let us know. You can contact us through our normal tips line or by secure channels, all of which are described here.

It’s not hard to look around America today and see signs of decay, corruption and decline. I thought of this yesterday when I saw this Semafor article on Egypt’s ambitious push to transition its electrical grid to renewables. The gist is that Egypt is trying to move from getting 10% to 45% of it electricity from renewables in two years. That’s a mind-bogglingly ambitious goal. But it’s not based on ideology or high-minded goals about limiting climate change or the situation you have in the U.S. where renewables — wind and solar — are somehow considered “woke.” Egypt doesn’t have that luxury, notwithstanding being geo-politically aligned with the major fossil fuel exporters. Fossil fuels are not only pricey, they make especially developing economies vulnerable to constant price shocks, whether it’s the Ukraine War, Iran War or the inflation spike coming out of COVID. Egypt is focused on wind power. And there’s no way to hit that ambitious two-year schedule without China, building China’s soft power and economic reach at the same time the U.S. seems determined to throw ours away.

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