No Trump Boom
"I'm going to say that the Trump boom is going to be the biggest political winner of 2026."
-- Sacks, January 2026, Episode 257
In today's episode, they compared the economy from January to today. Sacks declared that the economy right now is "hot." Hot? For ordinary Americans, let's compare the economy from January 2026 to now:
Unemployment rate: January: 4.3% | September: 4.2% | No real change
Inflation (CPI, 12-month): January: 2.4% | August: 3.4% | Up
Regular gas (AAA): January: $2.81 | October: $4.40 | Up
Diesel (AAA): January: $3.53 | October: $6.37 | Up
30-year mortgage rate: January: 6.10% | August: 6.67% | Up
Cost of living (CPI index): January 325.252 | August: 334.980 | Up
Eggs, dozen Grade A : January $2.577 | August $2.279 | Down
Let's take a look at the poverty rate. We don't have 2026 stats, yet. The official rate devised in the 1960s that ignores governmental aid and modern household costs is slightly down. It was 10.7% in 2024, and 10.2% in 2025. If we use the Census' "supplemental" measure, there was no change between 2024 and 2025 (13.1%).
So, just about everything that touches everyday Americans is either no change or has been bad. Eggs are slightly down, though. Good job!
How's the economy for the wealthy?
S&P 500 : January: 6,858 | October: 7,723 | Up
Dow Jones : January: 48,382 | October: 51,177 | Up
Nasdaq Composite : January: 23,236 | October: 27,190 | Up
Now let's take a look at trends in economic inequality.
Top 1% net worth : End of 2025: $54.8 trillion | Mid-2026: $60.3 trillion | Up
Top 1% share of all wealth : December 2025: 31.8% | June 2026: 32.5% | Up
And the GDP is up! GDP in current dollars (annual rate) at the end of 2025 was $31.5 trillion, and as of mid-2026, it is $32.56 trillion! Great job, boys!
tl;dr For All In's hosts, the economy is hot. For All In's listeners, it is not.
All In is lying to you. Sacks and Chamath relentlessly push the Trump administration's agenda. Friedberg wants to push us into Ayn Rand's libertarian dystopia. J-Cal simply sucks.
Sources
https://podcasts.happyscribe.com/all-in-with-chamath-jason-sacks-friedberg/all-in-s-2026-predictions