Tom Ellsworth

People were saying it's going to be 2.7, going to be 2.7.

Consensus was really about 2.5, but it was actually now down 4%.

0.3 from the same time a year ago.

So what that means is everyone that said, oh, gloom and doom on the tariffs, you know, this is going to create runaway inflation.

The inflation now, Pat, a year later is three-tenths, consumer price index, excuse me, is three-tenths lower than it was when Trump started the tariffs.

So the one-year impact on tariffs as a boogeyman of inflation didn't come true.

Today, the markets are back up a little bit, but let's also look at the VIX.

So these are daily swings, big daily swings that are happening.

Look at the VIX, Pat.

One year.

The VIX is holding around 21, which means that Americans are kind of neutral.

The risk is tough.

Look what happened last April.

See when the VIX shot up?

on what did they call that liberation day april 1st for tariffs look at what the vix did it went up over 50. over 50 means that the market was incredibly nervous and scared but see that see how low the line is that means even though we've had these market shifts up a bit down a bit up a bit down a bit overall the vix is been under under 21 except for a couple pops and so that

is what I look at, Pat, the mood of the wider market as measured by a technical like the VIX.

It's a nervous time, but guess what?

If you take a look at the least impacted was the S&P.

And the S&P over long term, what do they say?

Always a bad time to sell it.