James Altucher

So inflation is just off the table, which is why I bring up that example. It never occurs because of tariffs. It didn't occur in 2018, didn't occur in 1929, didn't occur in the 1800s. Some prices do go up, but that means other prices go down. So that's that. But the problem is, could industry go bad if prices on steel go up because of 25% steel tariff on China?

So inflation is just off the table, which is why I bring up that example. It never occurs because of tariffs. It didn't occur in 2018, didn't occur in 1929, didn't occur in the 1800s. Some prices do go up, but that means other prices go down. So that's that. But the problem is, could industry go bad if prices on steel go up because of 25% steel tariff on China?

people stop building things because it's too expensive to build things and will the housing industry collapse and people lose their jobs and then we have a recession and it's like a death spiral down. So it's not that I'm worried price will go up. The real worry is will there be a big recession? And even there, The answer is a solid no.

people stop building things because it's too expensive to build things and will the housing industry collapse and people lose their jobs and then we have a recession and it's like a death spiral down. So it's not that I'm worried price will go up. The real worry is will there be a big recession? And even there, The answer is a solid no.

people stop building things because it's too expensive to build things and will the housing industry collapse and people lose their jobs and then we have a recession and it's like a death spiral down. So it's not that I'm worried price will go up. The real worry is will there be a big recession? And even there, The answer is a solid no.

Like, everybody's worried, will there be another depression like what happened when the Smoot-Hawley tariff happened in 1929? And the main difference is the Smoot-Hawley tariff was a blanket tariff on everything, just like that 10% tariff Trump is doing now. That's a blanket tariff. Not the reciprocal ones, but the blanket 10% tariff that he announced. But...

Like, everybody's worried, will there be another depression like what happened when the Smoot-Hawley tariff happened in 1929? And the main difference is the Smoot-Hawley tariff was a blanket tariff on everything, just like that 10% tariff Trump is doing now. That's a blanket tariff. Not the reciprocal ones, but the blanket 10% tariff that he announced. But...

Like, everybody's worried, will there be another depression like what happened when the Smoot-Hawley tariff happened in 1929? And the main difference is the Smoot-Hawley tariff was a blanket tariff on everything, just like that 10% tariff Trump is doing now. That's a blanket tariff. Not the reciprocal ones, but the blanket 10% tariff that he announced. But...

Smoot-Hawley was almost a 60% tariff, or let's say 50% tariff on everything that was being imported. So 50%, if you put a 50% tariff, you're basically saying, we don't want to trade with you ever again. If you put a 10% tariff, you're saying, please trade with us as much as possible so we make that 10%. And you're also saying with these reciprocal tariffs, hey, you tariff us, we tariff you,

Smoot-Hawley was almost a 60% tariff, or let's say 50% tariff on everything that was being imported. So 50%, if you put a 50% tariff, you're basically saying, we don't want to trade with you ever again. If you put a 10% tariff, you're saying, please trade with us as much as possible so we make that 10%. And you're also saying with these reciprocal tariffs, hey, you tariff us, we tariff you,

Smoot-Hawley was almost a 60% tariff, or let's say 50% tariff on everything that was being imported. So 50%, if you put a 50% tariff, you're basically saying, we don't want to trade with you ever again. If you put a 10% tariff, you're saying, please trade with us as much as possible so we make that 10%. And you're also saying with these reciprocal tariffs, hey, you tariff us, we tariff you,

let's call the whole thing off. Like, let's just meet at the negotiating table and negotiate, which is what he's been doing with Canada, with Mexico, with China. Look, Apple today just announced they're going to spend $500 billion today in the U.S. to build factories here so they can make products here. So $500 billion is a lot of money.

let's call the whole thing off. Like, let's just meet at the negotiating table and negotiate, which is what he's been doing with Canada, with Mexico, with China. Look, Apple today just announced they're going to spend $500 billion today in the U.S. to build factories here so they can make products here. So $500 billion is a lot of money.

let's call the whole thing off. Like, let's just meet at the negotiating table and negotiate, which is what he's been doing with Canada, with Mexico, with China. Look, Apple today just announced they're going to spend $500 billion today in the U.S. to build factories here so they can make products here. So $500 billion is a lot of money.

And Intel and Taiwan Semiconductor, they just announced they're going to spend $200 billion building tech facilities here to avoid tariffs. So we're already in one day. We're already seeing the results. Like $700 billion just announced in 24 hours is a huge impact on the economy.

And Intel and Taiwan Semiconductor, they just announced they're going to spend $200 billion building tech facilities here to avoid tariffs. So we're already in one day. We're already seeing the results. Like $700 billion just announced in 24 hours is a huge impact on the economy.

And Intel and Taiwan Semiconductor, they just announced they're going to spend $200 billion building tech facilities here to avoid tariffs. So we're already in one day. We're already seeing the results. Like $700 billion just announced in 24 hours is a huge impact on the economy.

We'll all cancel it out. Think about a negotiation with your job. Let's say someone's at a job and they want to negotiate a higher salary And let's say they're really truly willing to leave. They say to their boss, I'm leaving, see you later. And the boss says, wait, wait, wait, let me make a counter offer. And the right response is, well, I'm leaving, see you later. And you walk out the door.

We'll all cancel it out. Think about a negotiation with your job. Let's say someone's at a job and they want to negotiate a higher salary And let's say they're really truly willing to leave. They say to their boss, I'm leaving, see you later. And the boss says, wait, wait, wait, let me make a counter offer. And the right response is, well, I'm leaving, see you later. And you walk out the door.

We'll all cancel it out. Think about a negotiation with your job. Let's say someone's at a job and they want to negotiate a higher salary And let's say they're really truly willing to leave. They say to their boss, I'm leaving, see you later. And the boss says, wait, wait, wait, let me make a counter offer. And the right response is, well, I'm leaving, see you later. And you walk out the door.