The Omaha Bugle-Global News Network

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A thought-provoking look at the news--offering entertaining insights into politics, economics, and popular culture--which are occasionally grounded in actual facts.

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155 episodes
Updated June 25

Episodes155

Newest first

June 25 · 40 min
Donald Trump, Jr., and Finding Happiness and Piles of Money in the CryptoCurrency World
Send us Fan Mail With their invitations to Donald Trump Jr.'s wedding apparently having been lost, Adam and Jeff offer some insights into the cryptocurrency recently founded by him and his brother Eric. Both Adam and Jeff, who grew up at a time when capital, labor and land were the primary inputs for generating wealth, have admitted that they are perplexed about the value of cryptocurrency. Jeff talks about the various problems associated with cryptocurrency--not the least of which being that it is not backed by anything of value. The Trumps are only several of many individuals who have launched digital tokens in recents years and apparently sold hundreds of millions or even billions of these very same tokens to investors who seem to view digital assets as something more than electronic flatulence. Both Adam and Jeff admit that they are hard pressed to find value in cryptocurrencies especially as they are not backed by any government authority. Moreover, Adam points out that cryptocurrencies do not enjoy a legal monopoly like a national currency such as the dollar. However, Adam and Jeff are considering launching their own digital token that will feature their likenesses on each side or, perhaps, pictures of famous dictators in history--even though they admittedly have no idea what they are doing.
May 23 · 32 min
Some Good Things Achieved by the Trump Administration
Send us Fan Mail Noted political philosophers Adam and Jeff discuss some of the positive achievements of Trump's second administration. First, Jeff points out that all the stops have been pulled out to enable the United States to become the dominant energy producer in the world. Energy self-sufficiency brings about both economic independence and permits greater freedom of movement in the international arena. The war with Iran highlights the fact that much of the world's energy must pass through chokepoints which highlights the vulnerability of China's economy to potential disruptions. Adam and Jeff also applaud Trump for continuing to bring an America First approach to most issues. Trump has also avoided becoming bogged down in a protracted land war. Finally, Adam and Jeff suggest that the Trump Administration's execution of the laws as in the case of border security underscores what can be done when a chief executive actually enforces the law instead of ignoring it.
May 6 · 35 min
The Fourteenth Amendment and Birthright Citizenship
Send us Fan Mail In their continuing effort to fix all of the wrongs in human society, Adam and Jeff discuss the concept of birthright citizenship. In rendering a Shakespearean-worthy reading of the Fourteenth Amendment, Adam points out that the basis for granting birthright citizenship is that a person born in the United States is subject to the laws of the United States. However, this is a weasely standard because a foreign national could commit a crime in the United States and be subject to its jurisdiction. Birthright citizenship also creates a "divided loyalty" issue because most birth tourism babies are born in the United States and then immediately whisked back to their homeland where they will be raised with little likelihood of having any attachment to the United States. In the case of China, Jeff points out that you could eventually have hundreds of thousands of U.S. citizens who are ordered to vote a particular way in American presidential elections to elect candidates who are more sympathetic to the Chinese Communist Party. Jeff argues that the inclusion of the word "reside" in the Fourteenth Amendment is more important because it conditions citizenship on actually living in the country and paying taxes as opposed to conferring citizenship on a baby who happens to be born while his or her parents are visiting Disneyworld.
March 25 · 40 min
Can We Balance the Federal Budget on the Backs of the Billionaires?
Send us Fan Mail Almost-but-not-quite-billionaires Adam and Jeff consider whether a national wealth tax on billionaires would be a good way to balance the federal budget. After considering the extent to which the $38 trillion national debt is compounding upon itself and the limited supply of billionaires, they are not optimistic that such an approach will work. They also point out that the fundamental problem is not a lack of tax revenue with tax collections totaling $5 trillion per year but persistent overspending which is now in excess of $7 trillion per year. So even if you tax every billionaire into abject poverty, it will only be a drop in the bucket and the annual shortfalls will continue to compound. Jeff offers the radical idea that maybe, just maybe, the solution might be that we spend no more than we receive in tax revenues each year. Adam pointed out that Jeff was suffering from a high fever and probably needed to go home until his hallucinations went away.
March 25 · 44 min
Has the United States Become the Latest Victim of Imperial Overreach?
Send us Fan Mail Global strategists Adam and Jeff ponder the historical cycles that have seen empires in the past decline when their commitments exceed their ability to project economic and military power. Jeff talks about the rise and fall of the British Empire and marvels that such a small island with such poor food choices and regrettable dental hygiene was able to assert control over much of the known world when colonization was all the rage. Adam and Jeff bemoan the structural deficits that are adding $2 trillion dollars per year to the national debt even though almost all of the $38 trillion debt has accrued in the past 4 decades. Of course this was at a time in which the United States was not threatened by another power; instead it has been a structural deficits fueled by increased entitlement spending. Adam points out that in a few years the entire budget will be consumed by spending on Medicare, Medicaid, Social Security and interest on the debt. In other words, all other spending including government subsidies to the Omaha Bugle will be crowded out. However, Adam and Jeff agree that in the event the dollars become tight, the Fed can always starting running another printing press 24/7.
February 28 · 36 min
Russia Celebrates 4 Years in Ukraine. . . . Put is not Amused. . . . Russia Delays its Plans to Invade Greenland
Send us Fan Mail Adam and Jeff discuss the state of Russia's 4-year misadventure in the Ukraine and point out that this conflict has lasted longer than Russia's involvement in World War II. Jeff points out that Russia has suffered about 1.2 million military casualties. This conflict has taken a toll on the Russian economy because there is a severe shortage of young workers to man the factories. The war has also exposed the poor state of the Russian military and highlighted the "fight to the death" mentality of the Ukrainians. Jeff points out that Ukraine's tenacity is rooted in part in Russia's repeated invasions and engineered famines of Ukraine over the centuries. Adam and Jeff also discuss the fact that Texas-sized Ukraine is the second largest country in Europe and should not have been viewed as a low-risk high-reward adventure like Putin's previous outings in Georgia and the Crimea. Ukraine's historical animosity toward Russia has fueled unprecedented nationalism and drained Russia's military capacity while also causing both Sweden and Finland to join NATO. Even though Russia may end up occupying a strip of territory on Ukraine's eastern frontier indefinitely, it is hard to see how this conflict has helped Russia in any way, particularly as it has become ever-more reliant on its "eternal friend" China.
February 15 · 33 min
Can A Wealth Tax Balance the Budget? Do We Have Enough Billionaires to Fund Our Spending Spree?
Send us Fan Mail Almost-billionaires Adam and Jeff discuss the recent proposal in California to implement a "one-time" 5% tax on the net worth of all persons with assets in excess of $1 billion. Despite the repeated failures of such taxes in other parts of the world, California seems determined to press ahead with this ballot initiative. Adam believes many billionaires will choose to move to a state other than California in order to evade this tax if it should become law. Jeff points out that most billionaires do not necessarily have the cash or liquid assets to pay a significant tax because much of their value is tied up in their own companies and other illiquid assets. He also points out that other politicians seeking to tax "unrealized gains" on stock holdings are strangely quiet about the idea of issuing refund checks on "unrealized losses." Adam notes that New York's current $12 billion budget deficit could be fixed right away if only each of its 120 or so billionaires would write a check for about $100 million. Adam and Jeff believe that there are far too few billionaires to make a dint in the revenue shortfalls on either the state or the national level and that people will actually have to start living within their means--which is not a very popular solution. However, Adam and Jeff urge that the threshold for any wealth tax be just above the combined amounts of their individual portfolios of assets in order to be "fair."
Dec 15, 2025 · 35 min
Why Do Electric Mail Trucks Cost So Much? Could Children on Bikes Replace Postal Carriers Nationwide?
Send us Fan Mail Always ready to spotlight instances of government waste and folly, Adam and Jeff turn their attention to the boondoggle that is the government effort to purchase electric mail delivery vehicles from a defense contractor that has never built trucks for the civilian market. As about only 612 vehicles have been delivered at a cost of $3 billion, which is equal to a price of almost $5 million per vehicle, Jeff and Adam wonder if there is a better way to deliver the mail. They consult the want adds and find out that there are numerous lightly used trucks available for $20,000 to $30,000 each that could be used as mail vehicles. However, Jeff takes it one step further and proposes that the nation's children become mail carriers and deliver the mail on their bikes--offering a solution that is environmentally green while getting the kids outside for some fresh air.
Dec 10, 2025 · 33 min
What Good are Congressional Resolutions? . . . Ranking the Worst Killers in History
Send us Fan Mail Adam and Jeff discuss whether they think Congress should spend its time promulgating non-binding resolutions. A recent resolution passed by the House condemning the horrors of socialism is considered. Adam and Jeff wonder if the Congress might have better spent the time on other things such as ending the recent 6-week government shutdown. They also discuss whether it makes any sense for Congress to concern itself with something that is not legally binding as there is already so little time for members to devote their attention to matters of great importance such as their own re-election campaigns. This resolution leads Adam and Jeff to consider the achievements of the greatest mass murderers in history and to wonder why people of each successive generation think socialism will solve all of their problems--despite the attendant historical wreckage.
Nov 22, 2025 · 48 min
Where are the good old days really that good?
Send us Fan Mail Cultural anthropologists and nude volleyball magazine collectors Adam and Jeff gather at the desk of the Omaha Bugle to talk about those people who yearn for the “good old days.” As most people who yearn for the fun of subsistence living and widespread disease and death have no idea how bad things were back then, Adam and Jeff waste no time in describing some of the fun when life was “nasty, brutish and short.” They also point out that everything in the good old days took so much time to do whether it involved collecting wood for a fire or trapping animals or even drawing water for a bath that there was no time to contemplate the lack of leisure time.
Nov 22, 2025 · 36 min
Rumors of the Death of the Penny are Greatly Exaggerated
Send us Fan Mail Noted coinage experts Adam and Jeff convene in an effort to calm down the public, which is panicking over the halt in production of the penny after 232 years. Jeff points out that there are almost 300,000,000,000 pennies floating around and that there is very little likelihood that we will run out of pennies anytime soon. Adam also notes that younger people do not use cash much at all, preferring to carry out their financial transactions with debit and credit cards. As the end of penny production will save an estimated $56 million per year, this awe-inspiring example of financial brilliance will doubtless help the government get its $2 trillion in deficit spending under control in the next few weeks.
Nov 19, 2025 · 27 min
Who Won the Shutdown? . . . Who Might Balance the Budget? . . . Jeff and Adam Plot the Shutdown of the Omaha Bugle
Send us Fan Mail Noted government shutdown experts Adam and Jeff offer their opinions as to who won the most recent government shutdown. Jeff points out that most shutdowns accomplish very little because they are typically instigated by the party out of power who then must bear the wrath of the public when they are unable to secure any concessions in short order. Jeff points out that the Democrats, who won several elections a couple of weeks earlier, decided that there was nothing more to gain and had several senators not up for re-election next year vote to end the shutdown. Adam bemoans the fact that the Congress cannot do a budget anymore and believes that the Omaha Bugle should produce a TV show called "Real Housewives of Washington D.C." which would feature both the backbiting and catfights of similar reality shows but also show the housewives working together to balance their family budgets in order to maintain their lavish lifestyles. Finally, Adam and Jeff consider the possibility of locking the board of directors of the Omaha Bugle into a board room and creating their own shutdown in order to increase their take home pay.
Nov 19, 2025 · 33 min
Is Justice Possible When the DA Hates You? Searching for Love at the Rehab Meeting. . . . No One Wants to Reach Across the Aisle
Send us Fan Mail Adam recounts the story of a man who was released from prison after 26 years for having stolen a gold chain and a wedding ring. The sole witness against him was a repeat offender who had various drug and alcohol issues that caused his credibility to be called into question--but apparently not enough to secure the release the accused. Jeff talks about how District Attorneys have enormous discretion and the full power of the state so that they can secure an indictment against anyone for almost any offense. He points out that ordinary people have no real chance because they cannot afford high priced defense attorneys; they will often cut a deal to avoid being forced into bankruptcy. Adam wonders about corruption in the political arena, particularly when members of Congress, for example, have access to legislation that can impact the prices of stocks before this information is released to the public. Both are concerned about the unwillingness of members of Congress to reach across the aisle--even though the aisle is barely 3 feet wide.
Nov 15, 2025 · 44 min
Is the 50 Year Mortgage A Good Idea?
Send us Fan Mail Recent proposals that lenders be permitted to offer 50 year mortgages to help make housing more affordable to homebuyers has sparked intense debate. Never ones to shy away from wandering into the crossfire, Adam and Jeff consider the pros and cons of having an exciting new loan product that can encumber your property for your life, your childrens' lives and, possibly, much of your grandchildrens' lives. Jeff admits that he is concerned about the fact that the monthly payment on a $500,000 loan at 6%, for example, only drops by about $300 a month if the borrower chooses a 50 year mortgage over a 30 year mortgage. Unfortunately, the borrower then gets to pay that reduced amount for an additional 20 years--long past the time when he or she will even be able to remember where he or she lives or anything else for that matter. Adam thinks longer mortgages are nothing more than financial gimmicks that are offered by politicians anxious to show they are doing something without really doing anything at all to lower housing costs. Jeff suggests lavish tents could be a possible low-cost housing substitute. Adam and Jeff believe that the solutions are much more challenging because policymakers have to deal with the high costs of land, labor and materials as well as a regulatory environment that often discourages higher density building.
Nov 11, 2025 · 29 min
A Bigger, More Beautiful White House?
Send us Fan Mail Noted White House historians and French postcard collectors Adam and Jeff offer their thoughts on the recent demolition by the Trump Administration of the East Wing of the White House to make way for a grand ballroom. Jeff points out that renovations are nothing new to the White House as it was first completely gutted when the British burned it down in 1814. Other improvements followed such as the construction of the East Wing during Franklin Roosevelt's administration where First Lady Eleanor Roosevelt could be housed in an office as far away as possible from the Oval Office on the other side of the building. Harry Truman presided over the most massive reconstruction of the White House in the late 1940s when its interior was largely rebuilt--leaving little more than the exterior walls intact. Although Truman's renovations were criticized for being out of character with the existing architecture, no body could answer how any such character could be preserved if the White House collapsed. Donald Trump's desire to build a 25,000 square foot ballroom to house up to 1,000 guests is the latest attempt to make the "people's house" a more pleasing experience for visiting dignitaries who might otherwise have to go fetch their plates at a tent on the front lawn or relieve themselves in one of the many convenient exterior portable toilets. In keeping with this patriotic duty to make a bigger, more beautiful East Wing in which the offices of the First Lady and the White House Calligrapher will be relocated, Adam and Jeff have called on the Omaha Bugle to contribute funds to participate in this magnificent building project.
Nov 11, 2025 · 33 min
Former Speaker of the House and Uber-Stock Trader Nancy Pelosi Retires
Send us Fan Mail Both Adam and Jeff retrieved their Nancy Pelosi t-shirts to honor her legacy as both the first female Speaker of the House and one of the foremost stock traders of all time. Adam pointed out that Mrs. Pelosi had begun her political career in 1987 with about $700,000 in stocks and bonds, most of which were jointly-owned with her husband, Paul. By the time she announced her retirement earlier this year, the value of her portfolio had increased more than 160-fold to over $130 million. Jeff and Adam applauded her stock picking prowess, noting that she had lapped the returns chalked up by that also-ran investor, Warren Buffet, by about 400 percent. Experts have wondered what sort of stock picking strategy she might have used with some malcontents suggesting that she may have had access to inside information in pending Congressional legislation before it was made public to assist in her selections. However, Jeff and Adam think this may be just a lot of sour grapes and that Mrs. Pelosi was very lucky and had access to a truly first-rate ouija board that they would both like to borrow. As far as Mrs. Pelosi's legacy as Speaker of the House is concerned, Jeff points out that she did lead efforts to impeach President Donald Trump on a weekly basis and offered several memorable quotes including the gem that "you have to first pass the bill to know what is in it."
Nov 11, 2025 · 29 min
Can BRICS replace the U.S. Dollar-Based Global Trading System?
Send us Fan Mail Listeners of the Omaha Bugle who enjoy working with masonry products will enjoy this learned discussion by Adam and Jeff about the BRICS organization--an international collection of "bad actors" who have tried to set up an alternative banking and trading system. Although founded by Brazil, China, Russia, India and South Africa, BRICS is dominated by China, who wants to supplant the United States as the numero uno actor in the global trading system. More to the point, BRICS wants to replace the U.S. dollar with some sort of alternate currency such as the Chinese renminbi. Jeff points out that China is not exactly known for its transparent financial system or its enthusiasm for intellectual property rights--both of which would be needed to attract a greater share of trade denominated in renminbi. Adam points out that BRICS is far more dependent on trade with the U.S. and the other Western powers than the reverse and may not be a very strong alliance if those markets were to be closed off. Jeff also wonders why many countries would want to join an organization that is geared to benefiting its largest members; they can obtain observer status in BRICS which confers no real benefits but imposes no real burdens. Observer nations also receive nifty BRICS t-shirts and athletic wear.
Sep 17, 2025 · 32 min
Are Security Guarantees Worth Anything? . . . What Will Protect Ukraine From Future Russian Invasions?
Send us Fan Mail Having completed a review of numerous academic periodicals that feature thought-provoking articles and scantily-clad models, Adam and Jeff offer their insights as to how best to end the war in Ukraine. Jeff points out that the so-called security guarantees being bandied about by England and France are not necessarily cast in stone but are "situational" and can disappear when a new government is elected or the existing government simply weasels out of its obligations by claiming that the guarantee does not apply to a particular situation. Adam and Jeff discuss the 1994 Budapest Memorandum in which Russia, among others, agreed not to use military force against Ukraine "except in matters of self defense." Fast forward to 2014 and Russia apparently concluded that invading Crimea did not constitute a violation of the Memorandum because the Kremlin really wanted to have a port on the Black Sea. More recently, President Putin decided in 2022 that he really wanted the rest of Ukraine so he went ahead and launched an all-out invasion that has since bogged down and become a war of attrition--which has caused Russia itself to suffer more than a million military casualties. Jeff believes that the only likely outcome is a sort of "frozen peace" in which a permanent ceasefire occurs--possibly without a recognition of changed borders. As far as security guarantees are concerned, both Adam and Jeff feel that Ukraine is the only actor that can ensure its own security.
Aug 10, 2025 · 48 min
Of Kamala Harris, Gavin Newsom and the Once Great State of California
Send us Fan Mail Kamala Harris' recent announcement that she would not be seeking to become the next governor of California was not a total surprise given the shellacking she suffered in the 2024 presidential election coupled with the squandering of a $1 billion campaign fund in 3-months. Many anonymous donors have said that they do not view her as a viable candidate for future presidential runs but acknowledge that she would be the leading candidate for governor in California due to her name recognition and the fact that she is unburdened by what has been and what will be. Adam and Jeff, noted experts in career opportunities for ex-presidents, suggest that she might be better suited for a university position as a linguistics professor or perhaps a name partner at a leading law firm if she could be locked into a sound proofed corner office without access to a phone or email. Turning to Gavin Newsom, the Omaha Bugle correspondents both concede that whoever is the head of the Democratic Party in California is virtually immune from challenge because policy results simply don't matter very much. Adam and Jeff believe that Newsom's disastrous record would not play well at the national level but they do acknowledge that his hair will not move even in hurricane-force winds.
Aug 10, 2025 · 38 min
Does Jawboning the Fed to Lower Interest Rates Ultimately Make Any Difference?
Send us Fan Mail Would-be Fed governor applicants Adam and Jeff consider whether the incessant demands by American presidents that the Fed lower interest rates really makes any difference. Jeff points out that the historical interest rates for the past century or so have averaged around 6% to 8% with a few outliers in which rates were extraordinarily high or low. Politicians want lower rates because it reduces the costs of borrowing which theoretically causes people to borrow more money to build homes and factories and improve productivity. Or maybe it does nothing at all in the end. Adam, who is very accurate on occasion, suggests that the Fed funds rate has very little to do with the actual interest rates that banks charge their customers. However, Jeff argues that the Fed acts as a signal-caller for the national economy and that its actions carry tremendous psychological weight when lenders are deciding whether to raise or lower the rates for credit cards, for example, from a comparatively low 28% to a lofty 33% rate. Both Adam and Jeff feel that the fact that the dollar, like every other modern currency, is not tied to any actual tangible asset such as gold, creates enormous potential for banker mischief--which has resulted in a 96% reduction of purchasing power in the dollar in the past century.