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An up-to-the minute rethinking of what it means to make a political film today, Miguel Gomes’s shape-shifting paean to the art of storytelling strives for what its opening titles call “a fictional form from facts.” Working for a full year with a team of journalists who sent dispatches from all over the country during Portugal’s recent plunge into austerity, Gomes (Tabu, NYFF50) turns actual events into the stuff of fable, and channels it all through the mellifluous voice of Scheherazade (Crista Alfaiate), the mythic queen of the classic folktale. Volume 1 alone tries on more narrative devices than most filmmakers attempt in a lifetime, mingling documentary material about unemployment and local elections with visions of exploding whales and talking cockerels. It is hard to imagine a more generous or radical approach to these troubled times, one that honors its fantasy life as fully as its hard realities. An NYFF53 selection. A Kino Lorber release.