Steven

Right, right. And, you know, this is where I understand why people might raise an eyebrow at this, but so much of why, of what the modern system, how it's supposed to work is when you have that specialization, products become cheaper.

Right, right. And, you know, this is where I understand why people might raise an eyebrow at this, but so much of why, of what the modern system, how it's supposed to work is when you have that specialization, products become cheaper.

And then the iPhone costs $1,000, when in any other world, it would cost $4,000 if we're building it in the United States at paying wages that people would put up with in the United States.

And then the iPhone costs $1,000, when in any other world, it would cost $4,000 if we're building it in the United States at paying wages that people would put up with in the United States.

It's so unpredictable because, as I said earlier, it can literally change an hour from now. So anyone giving firm predictions of, oh, here's what's going to happen next, that's not how any of this works. But you can say, though, that if the tariffs last, one of two things will happen, or both these two things will happen.

It's so unpredictable because, as I said earlier, it can literally change an hour from now. So anyone giving firm predictions of, oh, here's what's going to happen next, that's not how any of this works. But you can say, though, that if the tariffs last, one of two things will happen, or both these two things will happen.

Things that we import will get much more expensive, or what's more likely in places like China, if it's 145%, as well as the trade just stops. And then you're probably a matter of weeks away from empty shelves for certain products in certain cases.

Things that we import will get much more expensive, or what's more likely in places like China, if it's 145%, as well as the trade just stops. And then you're probably a matter of weeks away from empty shelves for certain products in certain cases.

I mean, if you're buying a pair of slippers from China for $1, and now all of a sudden they're $2.45, if you're an importer, for a lot of the situations, they'll say, like, it's just not going to work. Or if the iPhone that used to cost $1,000 is now going to cost $2,500, Apple might just say, there's not really a market for that. We can't really sell those.

I mean, if you're buying a pair of slippers from China for $1, and now all of a sudden they're $2.45, if you're an importer, for a lot of the situations, they'll say, like, it's just not going to work. Or if the iPhone that used to cost $1,000 is now going to cost $2,500, Apple might just say, there's not really a market for that. We can't really sell those.

Let's just pause and wait for things to happen. We're already seeing that. I'm sure this news will change by the time this airs. This is moving so quickly. But our shipping container imports from China have plunged in recent weeks, which is exactly what you would expect when you put that high of a tax on it.

Let's just pause and wait for things to happen. We're already seeing that. I'm sure this news will change by the time this airs. This is moving so quickly. But our shipping container imports from China have plunged in recent weeks, which is exactly what you would expect when you put that high of a tax on it.

I mean, if you were buying a house for a million dollars, and all of a sudden they put on 145% tax on that, you're probably not going to buy the house. And that's what's happening now.

I mean, if you were buying a house for a million dollars, and all of a sudden they put on 145% tax on that, you're probably not going to buy the house. And that's what's happening now.

The two likely outcomes, if it persists, are much higher prices and empty shelves. And I don't think anyone knows when or to the extent that could happen. And the button on the desk that says end this all could be pressed before that happens. But if it persists, that's what's likely to occur.

The two likely outcomes, if it persists, are much higher prices and empty shelves. And I don't think anyone knows when or to the extent that could happen. And the button on the desk that says end this all could be pressed before that happens. But if it persists, that's what's likely to occur.

Yeah, it's huge. Can you explain that to me?

Yeah, it's huge. Can you explain that to me?

trust is hard because you don't know how valuable it is until you lose it but once you lose it you're like oh that was everything and you know foreign investors people who don't live in the united states have 30 trillion dollars invested in america that's just in stocks and bonds that's not housing or office buildings just in stocks and bonds 30 trillion dollars that they've invested and a lot of the reason they do that well there's many reasons

trust is hard because you don't know how valuable it is until you lose it but once you lose it you're like oh that was everything and you know foreign investors people who don't live in the united states have 30 trillion dollars invested in america that's just in stocks and bonds that's not housing or office buildings just in stocks and bonds 30 trillion dollars that they've invested and a lot of the reason they do that well there's many reasons