Jeff Stein

Hey, don't tariff me. Don't do a tariff on me. It's really, I mean... It's almost a joke to think about the extent of the hostilities with Canada. I mean, Trump, when he was running, his campaign ads were not, help me stick it to those dastardly syrup-eating Quebecois. It was about lowering prices at the grocery store.

Hey, don't tariff me. Don't do a tariff on me. It's really, I mean... It's almost a joke to think about the extent of the hostilities with Canada. I mean, Trump, when he was running, his campaign ads were not, help me stick it to those dastardly syrup-eating Quebecois. It was about lowering prices at the grocery store.

Hey, don't tariff me. Don't do a tariff on me. It's really, I mean... It's almost a joke to think about the extent of the hostilities with Canada. I mean, Trump, when he was running, his campaign ads were not, help me stick it to those dastardly syrup-eating Quebecois. It was about lowering prices at the grocery store.

And the idea that Americans writ large are hungering for deepening of hostilities with the Canadians is... Something that I don't know about you guys, but I don't encounter a lot of Canadian, anti-Canadian sentiment in my daily life. And I don't think most Americans feel that way.

And the idea that Americans writ large are hungering for deepening of hostilities with the Canadians is... Something that I don't know about you guys, but I don't encounter a lot of Canadian, anti-Canadian sentiment in my daily life. And I don't think most Americans feel that way.

And the idea that Americans writ large are hungering for deepening of hostilities with the Canadians is... Something that I don't know about you guys, but I don't encounter a lot of Canadian, anti-Canadian sentiment in my daily life. And I don't think most Americans feel that way.

I mean, here I think, you know, this is a little beyond my remit, but it's really worth looking at the broad scope of just how unencumbered the president has been during his first few weeks in office. I mean, one of my other beats is covering sort of the federal budget in Doge, and they are daring the courts to rein them in or Congress to rein them in.

I mean, here I think, you know, this is a little beyond my remit, but it's really worth looking at the broad scope of just how unencumbered the president has been during his first few weeks in office. I mean, one of my other beats is covering sort of the federal budget in Doge, and they are daring the courts to rein them in or Congress to rein them in.

I mean, here I think, you know, this is a little beyond my remit, but it's really worth looking at the broad scope of just how unencumbered the president has been during his first few weeks in office. I mean, one of my other beats is covering sort of the federal budget in Doge, and they are daring the courts to rein them in or Congress to rein them in.

I think in that context, it looks very clear to me that Trump, you know, he's in his second term. He has replaced, you know, more independent cabinet members with people who are much less willing to push back. His allies in the Republican Congress are also very fearful of a primary and are currently very unwilling to speak back against him.

I think in that context, it looks very clear to me that Trump, you know, he's in his second term. He has replaced, you know, more independent cabinet members with people who are much less willing to push back. His allies in the Republican Congress are also very fearful of a primary and are currently very unwilling to speak back against him.

I think in that context, it looks very clear to me that Trump, you know, he's in his second term. He has replaced, you know, more independent cabinet members with people who are much less willing to push back. His allies in the Republican Congress are also very fearful of a primary and are currently very unwilling to speak back against him.

In that environment, it does not seem inconceivable that the market could fall further and further. I mean, we're already in correction territory.

In that environment, it does not seem inconceivable that the market could fall further and further. I mean, we're already in correction territory.

In that environment, it does not seem inconceivable that the market could fall further and further. I mean, we're already in correction territory.

And given that context, I think there's a lot of reason to be concerned that we could enter a recession and Trump could say, hey, it's worth it long term for this quasi-quixotic attempt to rebalance the global financial system in just a few years in a way that that has, I think it's fair to say, never before been tried.

And given that context, I think there's a lot of reason to be concerned that we could enter a recession and Trump could say, hey, it's worth it long term for this quasi-quixotic attempt to rebalance the global financial system in just a few years in a way that that has, I think it's fair to say, never before been tried.

And given that context, I think there's a lot of reason to be concerned that we could enter a recession and Trump could say, hey, it's worth it long term for this quasi-quixotic attempt to rebalance the global financial system in just a few years in a way that that has, I think it's fair to say, never before been tried.

Hey, my pleasure. Thanks for having me on, guys.

Hey, my pleasure. Thanks for having me on, guys.