Chicago can’t go bankrupt… and the Fed is “not doing QE” while buying tens of billions in Treasuries to keep the funding markets from cracking. So what happens next: higher inflation, higher long rates, and a steeper yield curve — or a policy pivot that no one wants to admit?

In this episode of the Future’s Edge, Jim Iuorio and Bob Iaccino are joined by Jim Bianco (Bianco Research) for a fast, blunt conversation on what’s really happening beneath the headlines:

What we cover:

- Chicago’s fiscal trap: why investors still buy Chicago bonds, and the Chicago Public Schools as a massive junk issuer

- The real issue: Illinois’ constitution and why “no Chapter 9” changes everything

- Why 40% of Chicago’s budget is effectively paying for the past (pensions, retiree healthcare, and debt service)

- Two alarming datapoints: 911 call response deterioration and low murder clearance rates

- The Fed’s “Reserve Management Purchases” (RMP): why it looks and behaves like QE even if the label changes

- Repo market stress explained in plain English: how funding the Treasury market actually works

- The bigger problem: a $38T Treasury market growing alongside persistent deficits

- Fiscal dominance: why “issue more T-bills and cut rates to 1%” is a hand-grenade strategy

- Rates & the long end: why Bianco sees the curve steepening and long-term yields staying pressured

- AI and jobs: productivity vs disruption, and why the timeline may be longer than the hype suggests

- Population growth shock: what negative net immigration could mean for payroll expectations and markets

- Bitcoin & crypto: why Bianco is long-term bullish — and why he thinks the space “loses the plot” when it chases short-term “number go up”

If you want a clear, no-BS walkthrough of why the Fed is intervening, why deficits matter, and why long rates may not come down the way most expect, this one’s for you.

Follow/Find Jim Bianco: @biancoresearch

https://www.biancoresearch.com/

Follow along on social media:

Twitter: https://x.com/bob_iaccino

Twitter: https://x.com/jimiuorio

LinkedIn: https://www.linkedin.com/in/bob-iaccino/

LinkedIn: https://www.linkedin.com/in/james-iuorio/

Newsletter: http://theunfilteredinvestor.com/

Chapters:

00:00 Intro + why this episode matters

02:00 Chicago bonds, pensions, and “why anyone buys this paper”

05:00 Where it ends: services cut to pay the past

11:00 Why cities mattered historically — and why that’s changing

14:40 “Not QE” explained: Reserve purchases & how the Fed creates money

18:30 Repo market stress + financing the Treasury machine

20:50 Deficits, inflation, and the Fed as enabler

35:10 Population growth, immigration, and payroll math

39:10 Stagflation risk + why 3% inflation doesn’t “fix” affordability

41:20 Fiscal dominance + the long end and steepener trade

45:00 Bitcoin: adoption, disruption, and why the real enemy isn’t ETH

Mike Arnold returns to the Futures Edge for his monthly segment to discuss the current state of the financial markets, focusing on technical analysis, political impacts, and sector performance. They explore the volatility in the market, the significance of upcoming Supreme Court rulings, and the performance of various indices, including the NASDAQ and Dow. The conversation also delves into commodities like gold, silver, and crude oil, as well as stock analysis for major companies like Google and AMD. The hosts emphasize the importance of risk management and market sentiment in trading strategies, providing insights for investors looking ahead to 2026.

Takeaways:

- The market is showing signs of volatility and potential pullbacks.

- Technical analysis is crucial for predicting market movements.

- Political decisions can significantly impact market stability.

- Sector performance varies, with NASDAQ lagging behind other indices.

- Risk management strategies are essential in uncertain markets.

- Commodity prices are influenced by geopolitical events.

- Gold and silver are currently in a volatile state.

- Stock performance can be affected by broader economic indicators.

- Consumer discretionary stocks may outperform in the near future.

- Understanding market sentiment is key to successful trading.

Chapters:

00:00 Introduction and Market Overview

03:02 Technical Analysis of S&P and Market Trends

05:34 Political Implications on Market Dynamics

08:48 Market Predictions and Economic Indicators

11:35 Sector Analysis: NASDAQ vs. Dow

14:39 Commodity Insights: Crude Oil and Gold

25:53 Market Patterns and Predictions

29:01 Analyzing Gold and Silver Trends

34:10 Stock Analysis: Google and Beyond

42:31 Exploring Consumer Discretionary Stocks

49:05 Banking Sector Insights

America spends more than ever on education—yet most students are falling behind. Why? And what can actually fix it?

Dr. Keri Ingraham, Senior Fellow at the Discovery Institute and one of the nation’s leading voices on education reform, exposes what’s broken in U.S. education—and what real solutions look like.

Dr. Ingraham shares firsthand insight from her visits to the White House, explains why 7 out of 10 American students can’t read or do math at grade level, and outlines why centralized bureaucracy has failed parents, teachers, and kids alike.

What You'll Learn in this episode of the Futures Edge with Jim Iuorio and Bob Iaccino:

- Why dismantling the U.S. Department of Education could improve outcomes immediately

- How school choice, micro-schools, and industry-specific high schools are changing lives

- Why teacher unions protect bad incentives—and punish excellence

- The real data behind “defunding education” claims

- How AI and workforce-aligned education can prepare kids for the future

- Why parents—not bureaucrats—must control education decisions

- What states like Indiana, Arizona, and New Hampshire are doing differently

- How education failure impacts economic competitiveness, markets, and national security

This is not a political conversation—it’s a policy and accountability conversation with massive implications for families, taxpayers, and the future workforce.

If you care about:

✔ Your kids’ education

✔ Economic freedom and innovation

✔ Workforce readiness

✔ Long-term market and societal stability

…this is an episode you can’t afford to miss.

Learn more or support Dr. Ingraham’s work at the Discovery Institute:

👉 https://www.discovery.org/education/donate

What if the cultural battles of the last decade — DEI, BLM, campus politics, “woke capitalism,” and corporate virtue signaling — weren’t organic at all, but manufactured chaos that finally hit its breaking point?

In this explosive episode of Futures Edge, hosts Bob Iaccino and Jim Iuorio sit down with one of the sharpest, most fearless cultural analysts in America: Professor Wilfred Reilly — political scientist, data-driven truth-teller, and author of Hate Crime Hoax, Taboo, and Lies My Liberal Teacher Told Me.

Reilly brings the fire right away — from the fall of DEI in corporate America, to the hypocrisy of COVID-era politics, to the real origins of campus radicalism and why the University of Illinois mascot controversy was “the precursor to BLM, Antifa, and all the BS we’re dealing with today.”

This episode is packed with sharp commentary, humor, uncomfortable truths, and the kind of clarity you only get from someone who lives in both academia and the real world.

Timestamps:

00:00 – Introduction & Housekeeping

02:30 – Food Conglomerates + Gold Investment

05:00 – Introducing Wilfred Reilly & His Books

10:00 – University of Illinois & the Chief Illiniwek Controversy

20:00 – DEI and Corporate America

30:00 – Racism, Data & Cultural Observations

40:00 – Single Motherhood, Family Dynamics & Society

50:00 – Transgender Issues in Sports & Public Debate

60:00 – Conclusion & Sponsor Acknowledgments

Follow along on social media:

Twitter: https://x.com/bob_iaccino

Twitter: https://x.com/jimiuorio

LinkedIn: https://www.linkedin.com/in/bob-iaccino/

LinkedIn: https://www.linkedin.com/in/james-iuorio/

Newsletter: http://theunfilteredinvestor.com/

This episode is sponsored by:

Independence Ark: https://www.independenceark.com/

Code: F U

AmerGold https://www.amergold.com/

Code; F U

What if the most important market move happening right now… isn’t the one you’re watching?

In this month's technical analysis segment with Mike Arnold, Chief Strategist of Path Trading Partners—and the guy Jim says “basically directs almost all my investments at this point.” Today, he joins Jim Iuorio and Bob Iaccino for another no-BS, caffeine-fueled breakdown of what’s actually happening beneath the charts.

In this episode of the Futures Edge, we dive straight into the volatility storm:

🔹 Bitcoin’s steep multi-week selloff — and whether a true double bottom is forming

🔹 Why this correction may be the most significant since crypto’s early days

🔹 How Bitcoin is dragging (or decoupling from) the NASDAQ

🔹 What level could trigger MicroStrategy pain and broader capitulation

🔹 NASDAQ’s technical setup, percent-B buy signals, rotation zones & next targets

🔹 S&P outlook, key support zones, and whether equities are still in a bubble

🔹 The dollar debasement trade — and why investors are being forced into risk assets

Mike breaks down the exact levels he’s watching — what confirms a double bottom, what triggers it, and why those two things are very different. If you’ve ever wanted to understand how pros use technicals in real time, this is your episode.

And yes… Jim had way too much caffeine.

Topics We Cover:

00:00 – Jim introduces Mike & today’s chaos

01:30 – Bitcoin setup: the potential double bottom explained

05:00 – MicroStrategy risk + capitulation zones

06:30 – Why this crypto selloff actually matters

07:45 – Did Bitcoin drag the NASDAQ down?

10:00 – Trigger vs confirmation in double-bottom patterns

12:45 – NASDAQ levels, rotation zone, and percent-B buy signal

16:00 – Dollar debasement as an equity trade

17:00 – Audience Q&A

Follow along on social media:

Twitter: https://x.com/bob_iaccino

Twitter: https://x.com/jimiuorio

LinkedIn: https://www.linkedin.com/in/bob-iaccino/

LinkedIn: https://www.linkedin.com/in/james-iuorio/

Newsletter: http://theunfilteredinvestor.com/

This episode is sponsored by:

Independence Ark: https://www.independenceark.com/

Code: F U

AmerGold https://www.amergold.com/

Code; F U

Are you blindly trusting passive investing? Seth Cogswell of Running Oak Capital unpacks the hidden risks of passive investing, market momentum, and why diversification might not be what you think. Passive investing often ignores risk, while momentum strategies dominate and valuations drift from fundamentals. Bitcoin’s legitimacy is questioned, and recent market swings show why focusing on risk-adjusted returns—and balancing growth and value—is essential to avoid major drawdowns.On this episode of Futures Edge, you'll learn: - Why “buy and hold” isn’t always safe- The dangers of overcrowded large-cap growth stocks- How passive investing ignores real risk and behavioral patterns- Bitcoin, Ponzi schemes, and why scarcity doesn’t guarantee value- Strategies for thinking critically about your investmentsTimestamps: 00:00 Introduction and Background of Guests02:58 Economic Policies and Stimulus Checks05:51 The Impact of Passive Investing08:21 Concerns About Market Efficiency11:08 The Risks of Passive Investment Strategies13:58 Understanding Risk and Investment Goals17:00 Behavioral Patterns in Investing24:31 Understanding Risk in Investment Strategies25:32 Bitcoin: A Double-Edged Sword27:22 Bitcoin and Ponzi Scheme Comparisons29:14 The Future of Bitcoin: Adoption and Value33:58 Portfolio Structuring for the Next Decade40:23 Navigating Market Volatility and Investment StrategiesThis episode is sponsored by: Independence Ark: https://www.independenceark.com/Code: F U AmerGold https://www.amergold.com/Code; F U

When veteran macro analyst Luke Gromen joins Jim Iuorio and Bobby Iaccino on Futures Edge, you know it’s going to get real. From China’s dominance in rare earths to the Fed’s quiet monetary pivots, Luke breaks down why the U.S. financial system is at a breaking point — and what assets (like gold and Bitcoin) might actually survive it.

In this episode,

- Is America “screwed”?

- Why the bond market’s days are numbered

- How decades of offshoring reshaped the middle class

- The silent war between Treasury policy and real assets

- Bitcoin vs. Gold: Which wins in the next liquidity cycle?

This is one of the most insightful macro conversations you’ll hear this year — equal parts sobering and sharp.

Timestamps:

00:00 Introduction and Context of the China Trade Deal

01:52 The Impact of China on the U.S. Economy

04:37 Quantitative Easing and Its Implications

07:27 Bitcoin vs. Gold: A Comparative Analysis

11:18 The Future of Gold and Bitcoin in Investment Portfolios

14:23 Political Implications for Bitcoin and Gold

18:15 Risks and Challenges Facing Bitcoin

26:10 Crypto Community and Political Influence

27:27 Tech Stocks and China Ownership

28:05 US-China Trade Relations and Tech Stocks

31:42 Gold and Bitcoin as Safe Havens

34:11 AI and the Tech Bubble

40:57 Future of the Federal Reserve

43:30 Impact of AI on Employment and Economy

Follow along on social media: Twitter: https://x.com/bob_iaccinoTwitter: https://x.com/jimiuorioLinkedIn: https://www.linkedin.com/in/bob-iaccino/LinkedIn: https://www.linkedin.com/in/james-iuorio/Newsletter: http://theunfilteredinvestor.com/

Are the markets showing cracks—or just catching their breath? Mike Arnold returns for his monthly technical analysis segment to break down the latest technical trends in the S&P, NASDAQ, and Gold.Topics covered:- The truth about the “rotation zone” and how to trade around it- Why the S&P may be due for a pullback — and what levels to watch- The AI & MAG7 rally — bubble territory or bull momentum?- Understanding psychological price levels (hint: it’s math, not emotion)- Why the NASDAQ’s meteoric rise could face a snapback- The growing case for physical gold & silver in uncertain marketsJim and Mike share decades of market experience, from the dot-com bubble to today’s AI mania, offering practical trading insights and risk management strategies for investors navigating today’s volatile environment.

Timestamps:

00:01 – Introduction & Sponsors

00:39 – Hosts check-in

01:01 – S&P Technical Breakdown Begins

02:52 – Explaining Rotation Zones (8 & 21 EMAs)

03:42 – Bull Chart Analysis & Key Levels

05:59 – Short-term 60-minute S&P Analysis

07:43 – Key Resistance Levels & Round Numbers Explained

10:13 – Transition to Nasdaq & AI Mania Discussion

11:01 – Nasdaq Weekly Chart Insights & Bubble Considerations

12:47 – Market Caution: Bulls, Bears & Greed

15:41 – Monthly Chart Perspective & Reward-to-Risk Analysis

18:35 – Gold Analysis Introduction & Market Context

21:21 – Gold Monthly & Weekly Patterns Explained

24:36 – GDX (Gold Miners ETF) Technical Setup

27:20 – Copper Market Analysis & Key Bounce Levels

31:07 – Silver Technical Breakdown & Targets

34:48 – Dollar Index Overview & Critical Levels

36:53 – Dollar Index Implications for Other Markets

Follow along on social media: Twitter: https://x.com/bob_iaccinoTwitter: https://x.com/jimiuorioLinkedIn: https://www.linkedin.com/in/bob-iaccino/LinkedIn: https://www.linkedin.com/in/james-iuorio/Newsletter: http://theunfilteredinvestor.com/