On Sunday, President Trump rejected Iran’s latest response to his administration’s ceasefire proposal by taking to Truth Social, calling it "totally unacceptable." In the meantime, the Strait of Hormuz, a critical oil chokepoint through which a fifth of the world’s oil travels, remains effectively blocked. And people everywhere are beginning to feel the squeeze. The national average cost of gas is now $4.55 per gallon, and diesel is inching closer to $6 a gallon. The Philippines has long declared a national energy emergency, government workers moving to a four-day work week. Lufthansa has canceled 20,000 flights through October of this year. But curiously, you wouldn’t know it if you wandered down Wall Street. Last week, the S&P 500 Index and Nasdaq Composite hit an all-time high, and both have continued to climb this week. This week, host Brooke Gladstone sits down with Bryan Walsh, editor of Vox’s Future Perfect section, to discuss the phenomenon of “economic blindness,” or the jarring mismatch between economic reality and the markets. Plus, how human evolution may play a role in this cognitive dissonance. On the Media is supported by listeners like you. Support OTM by donating today (https://pledge.wnyc.org/support/otm). Follow our show on Instagram, Bluesky, TikTok and Facebook @onthemedia, and share your thoughts with us by emailing onthemedia@wnyc.org. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, the S&P 500 hit an all-time high, despite a deepening global energy crisis. On this week’s On the Media, the mismatch between the stock market and reality. Plus, to understand how FEMA became so distrusted, we look at its response to Hurricane Katrina – and how it stained the agency’s reputation forever. [01:00] Host Brooke Gladstone sits down with Bryan Walsh, senior editorial director at Vox overseeing the Future Perfect and climate teams, about the phenomenon of “economic blindness,” which explains why the stock market hit an all-time high this week despite the oil crisis unspooling across the globe due to Iran’s effective closure of the Strait of Hormuz. Plus, how human evolution may play a role in this cognitive dissonance. [13:38] Host Micah Loewinger presents the second part of our investigation American Emergency: The Movement to Kill FEMA. This week, we look at the event that shaped FEMA’s reputation perhaps more than any other: Hurricane Katrina, one of the costliest disasters in U.S. history. Experts had warned about this kind of storm for years, but when it hit the agency only had one staffer on the ground–a PR guy named Marty Bahamonde. We also hear from Superdome survivor Chavon Allen, who was celebrating her 19th birthday when the hurricane made landfall. Further reading / watching: “We’re missing the economic fallout of the Iran war — just like we did with Covid,” by Bryan Walsh Disaster: Hurricane Katrina and the Failure of Homeland Security, by Christopher Cooper and Robert Block Hurricane Katrina: Race Against Time on Hulu On the Media is supported by listeners like you. Support OTM by donating today (https://pledge.wnyc.org/support/otm). Follow our show on Instagram, Bluesky, TikTok and Facebook @onthemedia, and share your thoughts with us by emailing onthemedia@wnyc.org.

In the second part of OTM's miniseries American Emergency: The Movement to Kill FEMA, Micah Loewinger investigates how the war on terror left FEMA unprepared for Hurricane Katrina, one of the costliest disasters in U.S. history. Experts had warned about this kind of storm for years, but when it hit the agency only had one staffer on the ground: a PR guy named Marty Bahamonde. He became an unlikely hero when he testified in Congress against FEMA’s leader, recounting how his pleas to rescue survivors from the Superdome went unanswered and spurring radical reforms. Plus, we hear from Superdome survivor Chavon Allen, who was celebrating her 19th birthday when the hurricane landed, about the conditions she was subjected to. Further reading / watching: Disaster: Hurricane Katrina and the Failure of Homeland Security, by Christopher Cooper and Robert Block Hurricane Katrina: Race Against Time on Hulu

Last month, the Justice Department, in a startling move, issued a challenge the Presidential Records Act--saying that the bedrock law for keeping Oval Office archives available to the public goes too far. Ironic, considering how Donald Trump has boasted about his presidential library—the home of presidential archives—which renderings show to be a skyscraper (and possibly hotel) in downtown Miami. Last summer, Brooke spoke with Tim Naftali, a Senior Research Scholar at the Columbia School of International and Public Affairs, about how President Trump has raised millions of dollars his future presidential library already, and why it should matter to the rest of us. On the Media is supported by listeners like you. Support OTM by donating today (https://pledge.wnyc.org/support/otm). Follow our show on Instagram, Bluesky, TikTok and Facebook @onthemedia, and share your thoughts with us by emailing onthemedia@wnyc.org.

Just after Donald Trump's first term began, he announced that he was considering eliminating the Federal Emergency Management Agency — the agency that helps Americans amid unthinkable disasters. And just a month ago, Trump repeated his disdain for FEMA, declaring that he’s poised to make some big changes. On this week’s On the Media, we present the first installment in a four-part series called American Emergency: The Movement to Kill FEMA. In this episode, OTM co-host Micah Loewinger tells the origin story of FEMA — which initially focused less on disaster relief and more on plans to save the government from nuclear attack. The agency’s secrecy inspired wild conspiracy theories and paranoia among far-right groups, including the fear that FEMA is building camps to detain citizens and stifle political dissent. The episode culminates with a never-before-told story of a plot to stalk FEMA’s top brass in the nineties. Further reading: Sound of Impact, by Adam Shaw Raven Rock: The Story of the U.S. Government's Secret Plan to Save Itself--While the Rest of Us Die, by Garrett M. Graff "FEMA and Disaster – a Look at What Worked and What Didn’t From a FEMA Insider," by Leo Bosner Hi On The Media listeners, we want to hear from you! Taking this podcast survey takes about 20 minutes and your feedback will help us make our podcast better! There are no wrong answers, just your honest take. Take the survey here (onthemedia.org/survey).On the Media is supported by listeners like you. Support OTM by donating today (https://pledge.wnyc.org/support/otm). Follow our show on Instagram, Bluesky, TikTok and Facebook @onthemedia, and share your thoughts with us by emailing onthemedia@wnyc.org.

When CBS was founded in 1927, its radio programming focused on entertainment, music, and fun. That all changed when a horrific prison fire broke out at the Ohio Penitentiary in 1930. CBS aired on-the-spot coverage of the event, with Otto "Deacon" Gardner, an inmate in the prison, at the microphone. At the time, Gardner's gripping broadcast captured the attention of audiences across the country and started CBS on the path to creating the hard-hitting news that would define the network for nearly a century. Brooke sits down with historian A. Brad Schwartz, author of the recent piece CJR piece "The Eyewitness", to talk about this largely forgotten event in radio history and what it tells us about the type of radio reporting that speaks to listeners and builds trust with audiences. Hi On The Media listeners, we want to hear from you! Taking this podcast survey takes about 20 minutes and your feedback will help us make our podcast better! There are no wrong answers, just your honest take. Take the survey here (onthemedia.org/survey).On the Media is supported by listeners like you. Support OTM by donating today (https://pledge.wnyc.org/support/otm). Follow our show on Instagram, Bluesky, TikTok and Facebook @onthemedia, and share your thoughts with us by emailing onthemedia@wnyc.org.