E.J. Antoni

And it's not simply that we're having a discussion about tariffs or that tariffs were put in place. It's that the tariff rates have not been consistent. They have not been steady. They've gone up. They've gone down. So this on-again, off-again movement has essentially made it impossible for a lot of folks to do business. So that's created, unfortunately, again, a lot of turmoil.

And it's not simply that we're having a discussion about tariffs or that tariffs were put in place. It's that the tariff rates have not been consistent. They have not been steady. They've gone up. They've gone down. So this on-again, off-again movement has essentially made it impossible for a lot of folks to do business. So that's created, unfortunately, again, a lot of turmoil.

And we hope to have that resolved in the coming weeks as we get concrete deals and then as we get them ratified in the Senate.

And we hope to have that resolved in the coming weeks as we get concrete deals and then as we get them ratified in the Senate.

Yeah, this is actually particularly good news, what we're seeing with a lot of these nations in the Middle East, where they are essentially going to be pouring investment into this country. This is where we've got to remember the capital surplus is the flip side of the trade deficit.

Yeah, this is actually particularly good news, what we're seeing with a lot of these nations in the Middle East, where they are essentially going to be pouring investment into this country. This is where we've got to remember the capital surplus is the flip side of the trade deficit.

For literally every year except for seven from colonial times through 1870, that was the arrangement that the United States essentially had with the rest of the world, where we were buying more from abroad than they bought from us, but they were investing much more here than we were investing abroad.

For literally every year except for seven from colonial times through 1870, that was the arrangement that the United States essentially had with the rest of the world, where we were buying more from abroad than they bought from us, but they were investing much more here than we were investing abroad.

And that not only created those investments, that is, here in the United States, not only created revenue streams, in other words, future income for foreigners, but it also created future income for folks here in the United States, whether that was an American investor or the American worker.

And that not only created those investments, that is, here in the United States, not only created revenue streams, in other words, future income for foreigners, but it also created future income for folks here in the United States, whether that was an American investor or the American worker.

Let's start with that. A lot of that has to do with the fact that Trump has been very successful in slowing the rate of increase in terms of government spending. We saw, for example, with the first GDP report that government purchases actually declined in the first three months of this year compared to the last three months of 2024. That's great news. Doge is working. It's having an effect.

Let's start with that. A lot of that has to do with the fact that Trump has been very successful in slowing the rate of increase in terms of government spending. We saw, for example, with the first GDP report that government purchases actually declined in the first three months of this year compared to the last three months of 2024. That's great news. Doge is working. It's having an effect.

But at the same time, the government has also been up against the debt ceiling. And so even the spending that they've been doing, they haven't been able to borrow. They've been having to go through cash at the Treasury. They're down about $500 billion or so. So that means that essentially the government is not only spending less, but they're borrowing less.

But at the same time, the government has also been up against the debt ceiling. And so even the spending that they've been doing, they haven't been able to borrow. They've been having to go through cash at the Treasury. They're down about $500 billion or so. So that means that essentially the government is not only spending less, but they're borrowing less.

This takes away the primary impetus behind inflation. So most of that price pressure is now gone. It is going to return, unfortunately, at some point. So we have to hope that this tax bill is not only cutting taxes, but cutting spending, too.

This takes away the primary impetus behind inflation. So most of that price pressure is now gone. It is going to return, unfortunately, at some point. So we have to hope that this tax bill is not only cutting taxes, but cutting spending, too.

No, I don't think so. I think it's primarily going to be the issue of the government spending, borrowing, and then printing too much money to pay its bills. In terms of tariffs, we actually really haven't even seen

No, I don't think so. I think it's primarily going to be the issue of the government spending, borrowing, and then printing too much money to pay its bills. In terms of tariffs, we actually really haven't even seen

those effects yet, because when we look at something like the Consumer Price Index, that comes from a survey which is conducted three times a month, the beginning, the middle, and the end, to try to eliminate any temporary spikes within a particular month. Well, when we look at the price increases that we saw in the month of April, for example, that were related to tariffs,

those effects yet, because when we look at something like the Consumer Price Index, that comes from a survey which is conducted three times a month, the beginning, the middle, and the end, to try to eliminate any temporary spikes within a particular month. Well, when we look at the price increases that we saw in the month of April, for example, that were related to tariffs,