Paul Sweeney

We don't know which products are going to be targeted.

I mean, I think you're asking the question that a lot of people are starting to kind of whisper to themselves, right?

It's really, really hard to raise taxes in D.C.

Economists would tell you raise literally any tax except for tariffs, right?

They're really inefficient.

They have really high economic costs.

At the same time, it seems to be the only tax that we're able to raise.

We're not even at the seventh inning stretch.

We're only just starting to get there.

You have to remember, Moot Holly took years to fully incorporate.

And this is it's not the case that you raise tariffs and the effects of those are fully incorporated the next day, especially when those tariffs have been so uncertain as these have been.

For this wonderful segment of the program, nationwide and to the original San Francisco of Charles Schwab, Lizanne Saunders and Kevin Gordon join us this morning.

David Rosenberg published up in Toronto and emphasized the word hope.

You lead in your note with the word hope.

Lizanne Saunders, gauge the hopium out there right now.

I mean, let me do this, Paul.

Kevin Gordon out with an incredible chart.

You know Lizanne Saunders hasn't seen it.

The Standard & Poor 500's forward 12-month PE was a lofty 23.1 and has come in.

I'm going to go Stan Fisher on you here.