Pete

But if you start shorting—and part of what really worries me right now about this kind of war on academia, and there are some things about academia that need to change, but— The war on academia, the cuts to cancer research, the cuts to science research, this kind of general anti-science atmosphere that I think is emanating from the administration.

But if you start shorting—and part of what really worries me right now about this kind of war on academia, and there are some things about academia that need to change, but— The war on academia, the cuts to cancer research, the cuts to science research, this kind of general anti-science atmosphere that I think is emanating from the administration.

But if you start shorting—and part of what really worries me right now about this kind of war on academia, and there are some things about academia that need to change, but— The war on academia, the cuts to cancer research, the cuts to science research, this kind of general anti-science atmosphere that I think is emanating from the administration.

That costs us in ways that don't show up on a corporate profit and loss statement six months from now or a year from now. But in terms of whether a country, a society, an economy is productive and is growing and is innovating— That starts to really cost you over time.

That costs us in ways that don't show up on a corporate profit and loss statement six months from now or a year from now. But in terms of whether a country, a society, an economy is productive and is growing and is innovating— That starts to really cost you over time.

That costs us in ways that don't show up on a corporate profit and loss statement six months from now or a year from now. But in terms of whether a country, a society, an economy is productive and is growing and is innovating— That starts to really cost you over time.

And if we're shorting that or if corporations and extremely wealthy people don't want to be paying into that through taxes, that is, I think, a classic example of a kind of short-term gain that causes long-term pain. Hmm. Yes. I'm really worried about that.

And if we're shorting that or if corporations and extremely wealthy people don't want to be paying into that through taxes, that is, I think, a classic example of a kind of short-term gain that causes long-term pain. Hmm. Yes. I'm really worried about that.

And if we're shorting that or if corporations and extremely wealthy people don't want to be paying into that through taxes, that is, I think, a classic example of a kind of short-term gain that causes long-term pain. Hmm. Yes. I'm really worried about that.

So part of what's happening is the markets are responding to their belief that the tariffs will probably make the world economy less productive and make a recession more likely. But a tariff is a tax that people pay on stuff they buy every day. And proportionally, if you're, what do you call it, middle rich? Yeah. Versus people in the neighborhood I grew up in in South Bend, Indiana. Sure.

So part of what's happening is the markets are responding to their belief that the tariffs will probably make the world economy less productive and make a recession more likely. But a tariff is a tax that people pay on stuff they buy every day. And proportionally, if you're, what do you call it, middle rich? Yeah. Versus people in the neighborhood I grew up in in South Bend, Indiana. Sure.

So part of what's happening is the markets are responding to their belief that the tariffs will probably make the world economy less productive and make a recession more likely. But a tariff is a tax that people pay on stuff they buy every day. And proportionally, if you're, what do you call it, middle rich? Yeah. Versus people in the neighborhood I grew up in in South Bend, Indiana. Sure.

Proportionally, it's the people in Indiana who are spending a much bigger portion of their income at, let's say, Walmart. And everything at Walmart is about to get more expensive.

Proportionally, it's the people in Indiana who are spending a much bigger portion of their income at, let's say, Walmart. And everything at Walmart is about to get more expensive.

Proportionally, it's the people in Indiana who are spending a much bigger portion of their income at, let's say, Walmart. And everything at Walmart is about to get more expensive.

But look at what's about to happen, right? As we speak, congressional Republicans are working on a budget framework that's going to cut corporate taxes. That's one of the biggest things it's going to do. And even this president, the least popular he ever was last time around was when they passed his tax cuts for corporations and the wealthy. So a lot of this is about, look,

But look at what's about to happen, right? As we speak, congressional Republicans are working on a budget framework that's going to cut corporate taxes. That's one of the biggest things it's going to do. And even this president, the least popular he ever was last time around was when they passed his tax cuts for corporations and the wealthy. So a lot of this is about, look,

But look at what's about to happen, right? As we speak, congressional Republicans are working on a budget framework that's going to cut corporate taxes. That's one of the biggest things it's going to do. And even this president, the least popular he ever was last time around was when they passed his tax cuts for corporations and the wealthy. So a lot of this is about, look,

No, no, I get that argument. But honestly, there are ways to structure taxes so that they capture where the value and the wealth is actually created. How do we do that? You can have a P.O. box in the Bahamas or Ireland or whatever. So one of the things, for example, that happened in the last administration was an international agreement on a threshold, a minimum.

No, no, I get that argument. But honestly, there are ways to structure taxes so that they capture where the value and the wealth is actually created. How do we do that? You can have a P.O. box in the Bahamas or Ireland or whatever. So one of the things, for example, that happened in the last administration was an international agreement on a threshold, a minimum.