Blake

Well, it's been back and forth all day. The line I saw was when there was basically a false report that a 90-day pause was likely or imminent, the overall stock markets rose about $2 trillion in value. It's three. Yeah, three trillion maybe. And it's gone up and down, up and down all the day.

Well, it's been back and forth all day. The line I saw was when there was basically a false report that a 90-day pause was likely or imminent, the overall stock markets rose about $2 trillion in value. It's three. Yeah, three trillion maybe. And it's gone up and down, up and down all the day.

And I think probably the reason it's more moderate is I think there's a greater sense that some sort of deals are likely to be made. We have the European Union offering to junk a bunch of tariffs. We have Vietnam offering to eliminate all tariffs if they can make a deal. And we have Trump saying we're basically open to negotiating with every country that isn't China. And if you take... The U.S.

And I think probably the reason it's more moderate is I think there's a greater sense that some sort of deals are likely to be made. We have the European Union offering to junk a bunch of tariffs. We have Vietnam offering to eliminate all tariffs if they can make a deal. And we have Trump saying we're basically open to negotiating with every country that isn't China. And if you take... The U.S.

trade deficit, most trade the U.S. does is not with China. So if you reduce the range of trade war from every single country in the world to just China, that's undoing a lot of what we've announced in the past week. As you said, I'm more in the middle on this.

trade deficit, most trade the U.S. does is not with China. So if you reduce the range of trade war from every single country in the world to just China, that's undoing a lot of what we've announced in the past week. As you said, I'm more in the middle on this.

I would say what I feel and what a lot of people feel concerned about is the sense that this was just taking a giant... It was like they wanted to push one single button to achieve everything they wanted to do. There's been reporting that... One of the offices in the Trump White House, they actually did go and they figured out what would a reciprocal tariff be on every tariff on U.S. goods.

I would say what I feel and what a lot of people feel concerned about is the sense that this was just taking a giant... It was like they wanted to push one single button to achieve everything they wanted to do. There's been reporting that... One of the offices in the Trump White House, they actually did go and they figured out what would a reciprocal tariff be on every tariff on U.S. goods.

So they look at what actual tariffs are they imposing in France? What are they imposing in Vietnam? What are they imposing in Great Britain? And so on. And then they were going to match those point for point. And then apparently the White House just thought, nah, let's just go for the easiest one. And so they did this trade deficit-based calculation.

So they look at what actual tariffs are they imposing in France? What are they imposing in Vietnam? What are they imposing in Great Britain? And so on. And then they were going to match those point for point. And then apparently the White House just thought, nah, let's just go for the easiest one. And so they did this trade deficit-based calculation.

And what's missing from that is, what do we say our goal here is? Our goal is to bring more manufacturing back to America. But when it's just like this, it's not finely tuned to that purpose. So, for example, you're not... You're doing a flat tariff on everything. You're not doing, for example, a tariff on finished goods, but then no tariff on raw materials.

And what's missing from that is, what do we say our goal here is? Our goal is to bring more manufacturing back to America. But when it's just like this, it's not finely tuned to that purpose. So, for example, you're not... You're doing a flat tariff on everything. You're not doing, for example, a tariff on finished goods, but then no tariff on raw materials.

That would encourage people to bring raw materials into the U.S. and then make stuff here. Instead, it's just basically a hike on everything very abruptly. And I think a lot of people are very worried about what the impact of that will be.

That would encourage people to bring raw materials into the U.S. and then make stuff here. Instead, it's just basically a hike on everything very abruptly. And I think a lot of people are very worried about what the impact of that will be.

blake is the sky falling what does bill ackman say break break down this whole story for us of course of course so bill ackman he's a wall street veteran very opinionated he's been a guy a very loud voice on twitter and then x over the past few years he very notably was one of the uh

blake is the sky falling what does bill ackman say break break down this whole story for us of course of course so bill ackman he's a wall street veteran very opinionated he's been a guy a very loud voice on twitter and then x over the past few years he very notably was one of the uh

He's generally mostly a Democrat donor historically, and he is one of the most prominent voices who shifted towards being a pretty vocal Trump supporter in 2024. He denounced DEI. He was very involved in attacking universities like Harvard after the 10-7 attacks.

He's generally mostly a Democrat donor historically, and he is one of the most prominent voices who shifted towards being a pretty vocal Trump supporter in 2024. He denounced DEI. He was very involved in attacking universities like Harvard after the 10-7 attacks.

So he's a guy who generally in the middle has moved towards supporting the right, probably a good barometer of the centrist Wall Street money person. been pretty upset about the tariff announcement, and he's been on a tear the last couple of days on X. He had a very long post last night that's already over 12 million views. I can't read the whole thing, but I want to get to a few excerpts from it.

So he's a guy who generally in the middle has moved towards supporting the right, probably a good barometer of the centrist Wall Street money person. been pretty upset about the tariff announcement, and he's been on a tear the last couple of days on X. He had a very long post last night that's already over 12 million views. I can't read the whole thing, but I want to get to a few excerpts from it.