Peter Navarro

One of the things I'm doing, Steve, is I do these little three-minute hits on the Navarro Express podcast where I look at the data and actually give you the right interpretation of the data.

For example,

Just on Friday, the producer price index came out, and it was like people were tearing their hair out, oh, it's inflationary, this and the other thing.

But when you look beneath the hood of that, the increase was driven purely by an artifact of, I don't know if you know this, Steve, but when the stock market goes up significantly, it actually pushes the inflation index up.

But it's got nothing to do

with meat and potatoes, bread and things like that on the table.

And in fact, the same PPI report showed that what I've been watching very carefully is the rebirth of our manufacturing capacity.

So, you know, 100% expensing on a beautiful bill.

And then people are going to have money in their pockets.

It's not just the rebates, the no tax on tips, no tax on overtime and seniors, no tax on Social Security.

That's huge.

That's a big hit.

And of course, the trade deficit.

I mean, I've been saying this for 10 years now.

It's like when you have a falling deficit, that's reflected in higher GDP growth.

It's purely a mathematical equation.

And we were losing 1% to 2% of GDP every year for the last 20 years as our factories have gone offshore.

And now that's coming back.

So things look really good.

The new Fed chair announcement, I think you and I agree, is puzzling in the sense that he has a reputation for being hawkish and a strong dollar guy.