This is batshit insane, no other way to call it. We now have the first attempt by the White House—specifically by Steve Miran, the Chair of the Council of Economic Advisers—to justify the tariffs based on economic "theory", and it's without a doubt the most dishonest piece of

When you piss into the wind, only then do you truly discover its direction. 🌬️💨

Too early to tell but so far nothing much to show.

Catch me if you can ✈️

Make Volatility Great Again

How it feels trading Trump's markets...

If the Treasury remarked its gold from the Nixon price of $42.2222 to today's record price of $3227, it would unlock $833 billion in Treasury assets which the Fed would have to instantly credit to the Treasury's general account (and is an amount greater than China's TSY holdings)

“This is no longer just about tariffs. It’s about redefining America’s role in the global economic system, from unreciprocated benefactor to strategic broker” My latest in Modern Diplomacy on President Donald J. Trump, Stephen Miran and #TradeWar moderndiplomacy.eu/2025/04/15/the…

MAGA will get the US isolated. US economy will face the music sooner than later 🎶

If this doesn’t get resolved soon, markets will revolt in their own way.

As the President Donald J. Trump did with Harvard University today, threatening the use of the tax system against your adversaries is the stuff of Putin-like dictatorships. Shame.

Looks like someone didn’t call 🤡

Markets take no prisoners. A contraction is coming ..

Chinese data beats across the board

Those political stunts are becoming a bit boring. Let’s give it another 1000 on SPX , then we shall find out who is swimming naked.

The view from China: “The US is not getting ripped off by anybody” “The problem is the US has been living beyond its means for decades. It consumes more than it produces. It has outsourced its manufacturing and borrowed money in order to have a higher standard of living than it’s

Chinese purchases of American oil are down -90% Y/Y, while Chinese purchases of Canadian oil are up +700% Y/Y. That’s a $20B annual loss for the United States at $60/barrel.

But we collected 30bn in tarrifs so far 🤪

Japan, which committed economic suicide with the US-imposed Plaza Accord in the 1980s, is now refusing to perform a déjà vu act. Japanese negotiator leaves the US without any tangible deal. Trump does NOT have all the cards.