Ed Elson

It's really, really incredible.

Okay, Alex Heath, author of The Source's newsletter and co-host of the Access podcast.

Alex, appreciate your time.

Thanks, Ed.

Well, we started the week on the right foot.

Trump said he had, quote, very good and productive conversations with Iran.

And that is what created $2 trillion in market value in a matter of hours.

The implication was that the war with Iran might be coming to an end, or at least that is what investors thought.

But then, as usual, we got some clarifications that complicated things.

Iran denied having any direct talks to end the war, and the nation's foreign ministry said they'd had no negotiations with the U.S.

That was when stocks started to fall back down again, as investors reckoned with the possibility that the president might be, once again, talking out of his arse.

Is that really what was happening here?

Was he lying?

I guess we don't know, but I guess that is also kind of the point.

And this was yet another reminder that anything that comes out of the president's mouth cannot really be taken seriously, especially if you are an investor.

And we know this because we've seen it over and over again.

Two weeks ago, for example, Trump told us that the war with Iran was, quote, very complete.

Investors bought that news.

And then here we are two weeks later, and the war continues to rage on.

Before that, we had the debacle with Greenland.