The long-running, listener-supported No Agenda podcast, hosted by Adam Curry and the late John C. Dvorak, has built a reputation for skeptical, humor-laced media deconstruction. With Episode 1908, titled 'Chivatican,' Curry welcomes a new guest co-host: Andrew Horowitz of The Disciplined Investor and DH Unplugged. The pairing, which Curry notes stems from a 15-year friendship and a shared history with Dvorak, delivers a three-hour deep dive that is notably finance-forward, dissecting narratives around tariffs, jobs numbers, artificial intelligence, and a hijacking mystery over Saudi airspace. The episode, available at Episode 1908 of the No Agenda Show, underscores the growing appetite for independent, listener-funded media that challenges official stories.
Horowitz brings a markets lens to the show's trademark analysis. Among the threads unpacked are the $15 billion Mesabi Metallics/SR steel plant deal in Iowa, dubbed 'Patriot Pellets,' and the Section 232 tariffs that enabled it. Horowitz dissects Commerce Secretary Howard Lutnick's Oval Office pitch alongside Iowa TV6 reporting that no permits have been filed and no major Lee County land has been purchased for the plant. He contrasts Cleveland-Cliffs' North American pellet dominance with Brazil's Vale, flags the Indian ownership of SR Technologies, and connects the timing to the midterms. This level of specificity matters because it reveals how political narratives around economic development often outpace reality, a recurring theme in No Agenda's deconstruction.
The episode also tackles the shifting official story on FlyDubai Flight to Tel Aviv. Curry hammers conflicting ABC, BBC, and Netanyahu accounts of whether the plane dropped from 34,000 to 16,000 feet in two or three minutes, whether a knife or crash axe was used, and the now-famous Israeli plumber who allegedly leveled the aircraft. Such contradictions, Curry argues, highlight the importance of independent media in holding official narratives accountable. Horowitz adds a markets perspective on Kevin Hassett's shifting commentary on BLS jobs reports, PCE methodology changes, and ShadowStats founder John Williams, as well as Scott Bessent's bond-buying 'blunder,' private credit refinancing walls, and commercial real estate losses. These discussions matter because they connect policy decisions to real economic consequences, offering listeners a framework to understand volatile markets.
On AI, Curry champions Meta's Muse assistant, predicts the collapse of traditional podcast apps, and recounts building a prototype 'while watching West Wing.' Trump's rebrand of AI as 'SI' (super intelligence) and Anthropic's reported $2 trillion IPO prospectus are also scrutinized. Horowitz's investing philosophy gets a memorable set piece when he recounts a horseback ride in Costa Rica with his wife Jill: 'The horse doesn't want to fall off the mountain just as badly as you don't want to fall off the mountain. Hang on to the horse. It's the same thing with these markets.' The metaphor encapsulates the episode's appeal: practical wisdom amid chaotic narratives. AOC, Bill Gates, Jensen Huang, Sam Altman's 'Dots' launch, Pope Leo's Chicago-accented AI remarks, and Pete Hegseth's Pentagon purge all get run through the deconstruction machine.
The implications of this episode extend beyond its content. No Agenda's value-for-value model, powered entirely by its audience of producers, knights, and dames, demonstrates that independent media can thrive without corporate sponsors or advertising. By bringing in a guest like Horowitz, the show bridges the gap between financial analysis and media criticism, offering listeners a unique blend of markets insight and narrative skepticism. In an era of polarized and often contradictory news, such deep dives provide a vital alternative, encouraging audiences to question official accounts and seek out primary sources. Episode 1908 'Chivatican' is available now wherever podcasts are heard, and at noagendashow.net.
