James Altucher

Yeah, it looks nice. Let's just say that. And I said, without thinking about the markets, I said, the thing is, And you know my story, like I've been broke many times. And then- How many times? At least four. Okay. Like dead broke. I've had ups and downs, but like dead broke and then- Like zero money. Then dead broke again.

And I said to her, which is the key thing I learned, is that the main skill is how quickly can you bounce back from adversity? Like you can't look backwards. You have to always be looking for- the opportunity, even in bad moments, even in moments like we're experiencing right now, because there's always opportunities. Like the economy is bigger than ever.

And I said to her, which is the key thing I learned, is that the main skill is how quickly can you bounce back from adversity? Like you can't look backwards. You have to always be looking for- the opportunity, even in bad moments, even in moments like we're experiencing right now, because there's always opportunities. Like the economy is bigger than ever.

And I said to her, which is the key thing I learned, is that the main skill is how quickly can you bounce back from adversity? Like you can't look backwards. You have to always be looking for- the opportunity, even in bad moments, even in moments like we're experiencing right now, because there's always opportunities. Like the economy is bigger than ever.

There is more money in this economy than ever. And I'm not saying you can just tomorrow turn your financial life around, but you could set yourself on a track and that alone feels good to make positive progress, to move forward. It took years for me to kind of stop wallowing in the badness and start moving forward towards the goodness.

There is more money in this economy than ever. And I'm not saying you can just tomorrow turn your financial life around, but you could set yourself on a track and that alone feels good to make positive progress, to move forward. It took years for me to kind of stop wallowing in the badness and start moving forward towards the goodness.

There is more money in this economy than ever. And I'm not saying you can just tomorrow turn your financial life around, but you could set yourself on a track and that alone feels good to make positive progress, to move forward. It took years for me to kind of stop wallowing in the badness and start moving forward towards the goodness.

Right. But like just like a portfolio, even if your portfolio is down, even if the economy is down, even if there's so much uncertainty, there's so much uncertainty right now. But we know that everyone says that every time, oh, the world's over, capitalism's dead, but it always comes back. We never got closer than 2008. 2008, things were legitimately bad.

Right. But like just like a portfolio, even if your portfolio is down, even if the economy is down, even if there's so much uncertainty, there's so much uncertainty right now. But we know that everyone says that every time, oh, the world's over, capitalism's dead, but it always comes back. We never got closer than 2008. 2008, things were legitimately bad.

Right. But like just like a portfolio, even if your portfolio is down, even if the economy is down, even if there's so much uncertainty, there's so much uncertainty right now. But we know that everyone says that every time, oh, the world's over, capitalism's dead, but it always comes back. We never got closer than 2008. 2008, things were legitimately bad.

We still bounce back so strong. I mean, there was like an 11-year bull market that lasted until the pandemic. And even that year of the pandemic, the market was up. So it lasted until essentially 2022.

We still bounce back so strong. I mean, there was like an 11-year bull market that lasted until the pandemic. And even that year of the pandemic, the market was up. So it lasted until essentially 2022.

We still bounce back so strong. I mean, there was like an 11-year bull market that lasted until the pandemic. And even that year of the pandemic, the market was up. So it lasted until essentially 2022.

Yeah. So let's talk about it. First off, let's set the historical stage, like what historically has happened and when have tariffs been bad? Because there has been a period when they've been bad. So first off, for the entire first half of the United States from the founding of the United States until 1913, 97% of the United States revenues came from tariffs. We didn't have any federal taxes.

Yeah. So let's talk about it. First off, let's set the historical stage, like what historically has happened and when have tariffs been bad? Because there has been a period when they've been bad. So first off, for the entire first half of the United States from the founding of the United States until 1913, 97% of the United States revenues came from tariffs. We didn't have any federal taxes.

Yeah. So let's talk about it. First off, let's set the historical stage, like what historically has happened and when have tariffs been bad? Because there has been a period when they've been bad. So first off, for the entire first half of the United States from the founding of the United States until 1913, 97% of the United States revenues came from tariffs. We didn't have any federal taxes.

So all the revenues came from tariffs. And during that time, you know, we had the industrial revolution, like the US went from being small country to the basically just about the biggest economy in the world next to the UK. And then around World War I, which is right after we surpassed the UK, And I know this is a very different period than now. Nobody has to correct me on that.

So all the revenues came from tariffs. And during that time, you know, we had the industrial revolution, like the US went from being small country to the basically just about the biggest economy in the world next to the UK. And then around World War I, which is right after we surpassed the UK, And I know this is a very different period than now. Nobody has to correct me on that.

So all the revenues came from tariffs. And during that time, you know, we had the industrial revolution, like the US went from being small country to the basically just about the biggest economy in the world next to the UK. And then around World War I, which is right after we surpassed the UK, And I know this is a very different period than now. Nobody has to correct me on that.

Obviously, it's very different. But historically, tariffs was the main source of revenues, at least for early America. And there was zero inflation then. So tariffs are not really connected to inflation, despite... what people are saying and we can get to why in a second. But then federal income taxes started. It was a constitutional amendment.