Ryan Sean Adams

And now at the time of recording, the S&P has actually flipped green, marginally green.

So we are actually at the same stock market prices, at least in the S&P, as we were before the Trump speech.

I have a take on this, which is that the longer that the market has to digest the news, the news being the war, the whole entire Iran war, the more it kind of comes normalized.

And we saw this with the Liberation Day tariffs.

Markets reacted violently at the very beginning.

And every single time there was another tariff day tweet or posturing against China or announcement on further tariffs,

tariffs on China, the market reacted, but it reacted in a more muted fashion as time went on.

And I'm seeing that with Iran here too.

Like the market is reacting, but it's starting to shrug it off quicker and quicker and quicker.

And we all kind of remember what happened with the liberation day tariffs.

Like eventually the market just stopped carrying and then we went to new all-time highs.

Every single new crisis is facts and circumstances, so we can't really say that's going to be repeated.

But with the S&P being green as of this morning, after Trump told us that they're going to strike Iran hard for the next three weeks and the stock market comes out green, I'm kind of interested in that pattern.

That takes time to get there.

Yeah.

Yeah.

And this all is going to show up in inflation.

Like what does oil have to do with the bonds?

Well, higher oil prices makes everything cost more domestically in our neck of the woods.

If things cost more domestically, that means inflation is going up.