The unemployment rate in December among people aged 20 to 24 was 8.2%. That’s up nearly a full percentage point from 2024, and much higher than the overall unemployment rate of 4.4%. The job market is tough, and getting tougher, but why is it particularly hard for Gen Z? Also in this episode: Trump’s focus on Venezuelan crude could redirect Canadian oil, companies use surveillance data for “personalized” pricing, and China’s trade surplus grew by 20% last year, in spite of U.S. tariffs.
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Ravi opens by running through a turbulent week: the Minnesota ICE shooting, concerns about escalating federal power, and the DOJ’s reported probe into Fed Chair Jerome Powell’s independence, alongside global flash points like Iran and a U.S. electorate that’s increasingly independent. With institutions under strain and norms being tested in real time, he then turns to the ideas shaping this moment. That sets the stage for his conversation with political philosopher Laura K. Field, author of Furious Minds, on the thinkers and factions behind the MAGA New Right—and why understanding them now matters more than ever.
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Today on The Gist, a look at Donald Trump's plan to cap credit card interest rates at 10%—a populist move that might actually rob the poor to pay for the rich man's travel perks. Then, former CIA analyst and The Rest Is Classified co-host David McCloskey discusses his new novel, The Persian. He explains how real-world Mossad operations inside Iran are so "insane" they don't even need to be exaggerated for fiction, from remote-controlled machine guns to the devastating pager attack that crippled Hezbollah's command and control. He also breaks down the "unlikely but plausible" tradecraft used in the Israel-Iran shadow war and why the U.S. organizational and legal structure wouldn't—or couldn't—pull off the same stunts.
Produced by Corey Wara
Coordinated by Lya Yanne
Video and Social Media by Geoff Craig
Do you have questions or comments, or just want to say hello? Email us at thegist@mikepesca.com
No agreement after high-level meeting with U.S., Danish and Greenlandic officials as President Trump doubles down on desire to acquire the island territory. President Trump says he's been told the killings of protesters in Iran have stopped. Gaza peace plan enters second phase.
The foreign ministers of Denmark and Greenland say there's still a fundamental disagreement with the United States over Greenland, after high- level talks in Washington they described as frank but constructive. Denmark's Lars Løkke Rasmussen said it was absolutely not necessary for the US to seize Greenland. He also insisted that there was no immediate threat from China or Russia. President Trump earlier said the US needed the autonomous Danish territory for national security and anything less than complete US control was 'unacceptable'. The Trump administration has not ruled out taking Greenland by force.
Also in the programme: how Ukrainians are coping with repeated Russian assaults on energy infrastructure; and music from the Indian composer known as the Mozart of Madras.
(Photo: A ship sails outside Nuuk's harbour, Greenland, January 13, 2026. Credit: Reuters/Marko Djurica)
P.M. Edition for Jan. 14. U.S. existing home sales rose 5.1% in December, their biggest gain in two years. Journal reporter Nicole Friedman discusses what’s driving the gains in the struggling housing market and whether the momentum can continue. Plus, the U.S. military is evacuating some personnel from Al Udeid Air Base in Qatar as President Trump considers a strike on Iran. And earnings from some of the biggest U.S. banks such as Bank of America, Citigroup and Wells Fargo show strong consumer spending in the fourth quarter. Alex Ossola hosts.
An artificial-intelligence tool assisted in the making of this episode by creating summaries that were based on Wall Street Journal reporting and reviewed and adapted by an editor.
When ChatGPT was released, the company most impacted was supposed to be Google. But over the past year Google has surpassed OpenAI’s models and Gemini is gaining market share. This week, the company also won a deal to power Apple’s Siri and announced a shopping protocol. It looks like 2026 may again be the year of Google.
Travis Hoium, Lou Whiteman, and Rachel Warren discuss:
- Google powering Siri
- Google’s shopping protocol
- Delta’s results and the K-shaped economy
Companies discussed: Apple (AAPL), Alphabet (GOOG, GOOGL), Delta (DAL), United (UAL), Meta Platforms (META).
Host: Travis Hoium
Guests: Lou Whiteman, Rachel Warren
Engineer: Dan Boyd
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Protests are sweeping Iran and the government is cracking down hard, fearing the uprisings pose a threat to the theocratic regime. There is an internet blackout in the country making it hard to get information. We hear a rare first-person account of the protests from a Johns Hopkins professor who visits the Iran frequently and who recently attended a protest there.
President Donald Trump's sweeping plan for Venezuelan oil is coming into focus. It includes cutting off illicit oil exports, gaining more control over Venezuela's state-run oil company and rebuilding infrastructure. Some of these goals require the participation of U.S. oil companies, but those companies are reluctant to invest in the still-unstable country. WSJ's Andrew Restuccia explains Trump's gambit to bring down oil prices and reshape the global oil market. Ryan Knutson hosts.
