Andrew Ross Sorkin

period of time now where so much of what businesses are doing is being directed by the state, literally.

NVIDIA is now going to be selling chips to China, and the government is going to take a 25% piece of every sale of those chips.

We're now taking, the U.S.

this is, is taking stakes in businesses like Intel, in, you know, rare earths companies.

It's just it shifted the balance.

The tariffs effectively direct investment capital manufacturing by companies as a function of the way they are being constructed.

So everything, as I said, really does run through 1600 Pennsylvania Avenue.

I think it's going to be very challenging to lower income taxes given the amount of debt that we have in this country.

And despite the money that is coming in via the tariffs, which, by the way, I think prove the question, are tariffs a form of a tax?

The answer is that they are.

That's how we're collecting all of this revenue.

As for the farmers, there's no question that the tariffs that have been implemented have hurt them.

And I think the president is trying to find a way to ameliorate what could be effectively an uprising by

farmers in large swaths of the country that have been hurt by these tariffs.

And one way to do that is to send them checks.

I always hesitate to offer investment advice except to say this.

I hope that the world and the economy is better 20 and 30 years from now than it is today.

And if you can have that kind of time horizon when you think about your own investments, I think you can take a long view and you can be invested in this market.

I think if you need the money, you genuinely think you're going to need the money to

in six months from now, a year from now, or even two or three years from now, I think you need to be more cautious and think about how much money is in the stock market versus how much money is in your bank account.