Special offer. See more information about Outbyte and uninstall instructions. Please review EULA and Privacy policy.

iTechGuides is reader-supported. When you buy through links on our site, we may earn an affiliate commission. As an Amazon Associate I earn from qualifying purchases. Learn more

The Patriotic Cowboys Wrecking Our Economy is an episode of The Bulwark Daily, published October 1, 2026. Host Tim Miller is joined by Josh Barro and Jonathan V. Last for a discussion that moves from household economic frustration and oil-market risk to military rhetoric and the role of shame in public life.

What is this episode about?

The episode brings together several strands of political commentary rather than offering a single economic forecast. In its official description, The Bulwark says Barro explains why people can feel economically stuck even as the hosts argue the United States is not in a recession. The description points to higher borrowing costs, large federal budget deficits and the president’s war as factors in that frustration.

Last then discusses how uncertainty around the war may affect oil markets. The conversation later turns to Pete Hegseth and rhetoric about masculinity, before Last considers whether shame can help sustain social norms. These are arguments and topics raised in the episode, not independent findings established by the podcast description or transcript.

What’s actually slowing this PC down?

Pick the symptom - the matching free tool is one click away.

Special offer. See more information about Outbyte and uninstall instructions. Please review EULA and Privacy policy.

What did Josh Barro say about the economy?

Barro’s segment, as summarized by the show, distinguishes recession from the pressures people experience in daily financial life. The hosts’ position is that the country is not in a recession, while many people still feel squeezed or stuck. Higher borrowing costs are central to that explanation: even without a recession, expensive borrowing can make household and business decisions feel more difficult.

The official description also says Barro connects large budget deficits with inflationary pressure and argues that the president’s war is worsening economic conditions. Those points should be understood as Barro’s analysis as presented by the show, not as a neutral consensus or a claim independently demonstrated by the episode listing.

Why does Jonathan V. Last say oil costs may stay elevated?

Last’s argument is that oil prices can include a risk premium while the future of a conflict remains uncertain. In the transcript, he says that the return of some shipping traffic would not necessarily remove that premium: traders and shippers may still face uncertainty about when the conflict will end, as well as higher insurance, fuel and passage costs.

The transcript attributes to Last a comparison in which moving a barrel of oil from the Gulf east to Asia cost about $3 before the war and $34 at the time of the discussion. He attributes the comparison to Argus freight-logistics data, but the transcript does not provide the underlying Argus report or enough methodology to verify the figures independently. Last’s further prediction that the cost would not return to $3 is a forecast, not a confirmed outcome.

Special offer. See more information about Outbyte and uninstall instructions. Please review EULA and Privacy policy.

What does “patriotic cowboys” refer to?

The phrase refers to a Hegseth-related segment flagged in the episode description as a discussion of his focus on masculinity. The transcript presents the line “The ideological clowns are out. The patriotic cowboys are in with testosterone testing on top” as words from a clip the hosts discuss. The transcript alone does not authenticate the original recording, so it is safer to describe this as a line presented in the podcast segment than to treat it as a verified direct quotation from Hegseth.

What does Last say about shame?

In a later discussion about public life, Last argues that social shame can discourage behavior that cannot, or should not, be controlled entirely through law. The transcript gives his formulation as: “If you don’t have shame, then everything in a society has to be regulated by law.” This is Last’s argument in the episode; the transcript is a third-party rendering rather than an independent source on the broader effects of shame.

Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Support on Ko-Fi

Where can you listen?

The official episode page lists podcast listening options and says ad-free editions are exclusive to Bulwark+ members. Check the episode page for the available platforms and membership details.

Quick Recap

SaleBestseller No. 5
The Psychology of Money: Timeless lessons on wealth, greed, and happiness
The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Ideal for Gifting; Ideal for a bookworm; Compact for travelling
$10.99
Best Value
Sale
The Psychology of Money: Timeless lessons on wealth, greed, and happiness
  • Ideal for Gifting
  • Ideal for a bookworm
  • Compact for travelling

Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.

Special offer. See more information about Outbyte and uninstall instructions. Please review EULA and Privacy policy.