Scott and Ed dig into the rubble of the record breaking $6.6 trillion sell-off following Trump’s tariffs announcements. They break down how Trump determined the tariff rates, what the tariffs will do to company earnings and the real economy, and offer advice on how to deal with turmoil in the markets as an investor. Vote for Prof G Markets at the Webby Awards Subscribe to the Prof G Markets newsletter Order "The Algebra of Wealth," out now Subscribe to No Mercy / No Malice Follow the podcast across socials @profgpod: Instagram Threads X Reddit Follow Scott on Instagram Follow Ed on Instagram and X Learn more about your ad choices. Visit podcastchoices.com/adchoices
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Hey, this is Peter Kafka. I'm the host of Channels, a podcast about technology and media and how they're both changing all the time. And this week, I'm trying to figure out how Donald Trump is changing the media in Washington, in the courtroom, and in the boardroom. On to help me figure it all out is Sarah Fisher, the excellent Washington-based media reporter for Axios.
That's this week on Channels, wherever you get your favorite podcasts. Buying a house has long been considered the best way to build wealth and move into true adulting. Isn't it? I mean, at least that's what society wants us to think. Gotta get a Birkin, gotta get a home, you know.
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Today's number, $6.6 trillion. That's how much value the U.S. stock market shed following Trump's tariff announcement. A record-breaking two-day wipeout. Ed, I just came from a Necrophiliacs Anonymous meeting, and suddenly it dawned on me, what happens if I die here?
How are you, Ed? How are you? I'm doing okay, Scott. How are you? Are you reacting badly to these tariffs? What's going on with you? So I'm an emotional tideful right now, not for the reason you probably think.
I lost... I don't know, mid-single-digit millions, maybe $10 million on the 48 hours on Thursday and Friday. But that's the bad news. The good news is that means you have a lot of money to begin with. I'm blessed.
And I could kind of—I don't want to say I could kind of give a shit, but the reason I'm an emotional die-ball is I just finished up a college tour with my son, and it just is sort of this very—it's a marker in time, you know? It's just—we went to eight schools in five days, and— I decided I was going to be totally focused on parenting and not do any business calls.
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