Anthony Pompliano

So let's talk the economy first.

We now are starting to get a lot of data points that I think are showing the Trump economic policies are working.

Now, there's plenty of people who don't like the president.

They don't like a lot of things that he's doing.

But if we just look at the data, it seems like we have backed ourselves into a high growth, low inflation economy.

Is that your read on GDP growth, the inflation, the jobs number, et cetera?

Or do you have some different view?

I always, as I've looked through this, think about the government's job in a weird way with the economy is to create the ingredients or the inputs as best they can for the private sector to run into the end zone, if you will.

One of the things that seems to be at play here is everyone evaluated, let's just take the tariffs, kind of isolate that as one example.

Everyone academically said, okay, if you raise tariffs, that means that you are going to raise consumer prices.

Theoretically, that makes sense.

I have...

a lot of things I wrote about where I said, well, if you go back and you look, that's not actually what happens, right?

If you go and you look at just tariffs alone, you can see that, well, the Chinese manufacturer eats a little bit of it.

Then the exporter eats a little bit of it.

Then the logistics company eats a little bit of it.

The importer eats a little bit of it.

And there are still, there can be an impact to the consumer.

It's just way lower than people think.

If you raise tariffs 10%, you don't get a 10% increase in consumer prices.