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Episode — 2026-10-18: Net versus gross: before judging how big a thing is, subtract the part supplied by the party presenting it -- tariff refunds, the government grant behind a grassroots voice, the arson inside a crowd, a carrot worth 2 percent. [5:00 AM]

47:51

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Net versus gross: before judging how big a thing is, subtract the part supplied by the party presenting it -- tariff refunds, the government grant behind a grassroots voice, the arson inside a crowd, a carrot worth 2 percent. (5:00 AM render) Segments: 1. Opening 2. Light Opener 3. Quick Hits A 4. Deep Dive — France 5. Medium — The Waiver, With Paper 6. Deep Dive — The Funded Grassroots 7.…