Mexico and Canada are preparing retaliatory tariffs, but that's a mistake. In 2018, China had the optimal response to US tariffs, which was to simply let its currency fall in a full offset to US tariffs. That protects exporters with little risk of escalating the trade war...

BREAKING: IRS preparing to layoff thousands as soon as next week, per NYT

Current setup with a big US/China trade meeting happening over the weekend reminds me of the run-up at the end of November 2018 into the Trump/Xi meeting in Argentina at the G20 meeting in early December 2018. Markets ran up into that meeting on hopes of a deal, spiked further

Fighting for Trump is unpopular to ~50% of Americans. Fighting *against* Trump is deadly.

Senior Iranian Official: "If it's a choice between halting uranium enrichment and going to war, we choose war" -Reuters

People who have kids do need to have 3 kids to make up for those who have 0 or 1 kid or population will collapse

🤣🤣🤣👌🏻

All aboard the Bitcoin Express. 🚂₿

grok imagine making old baseball cards come to life is 🔥🔥🔥

🎯🤣

I smell a rat. Why does #SamAltman #openapi need the taxpayer to guarantee their debt if they are going to make hundreds and hundreds of billions of dollars? Has he just done a cash analysis and realised he's cash flow short?

So the cash-incinerating company at the epicenter of the AI Ecosystem, whose CEO is already taunting non-existent short-sellers, wants Federal taxpayer guarantees on its debt issuance…?! AYFKM…???!!!

History shows us that having too much debt during an economic downturn leads to a classic, self-reinforcing cycle where: 1) The empire can no longer borrow the money to repay its debts 2) It prints a lot of new money, which devalues the currency and raises inflation 3) Living

The bears and doomers always come up with new reasons why the stock market is about to crash and yet history leaves them behind. It pays to be an optimist. (h/t Ryan Detrick, CMT)

dont trade, fade:

🚨 Howard Lutnick's family firm bought up the rights to tariff refunds for 20-30 cents on the dollar after Liberation Day last year. Today, the Supreme Court struck the tariffs down. For every $100 invested, Lutnick's sons just made 3-5x. Welcome to Crony Corrupt America.

MrBeast competition to see who can make it through the Strait of Hormuz

Crude futures aren't telling the full story. See Dubai physical swaps (white, balance of the month) vs Brent prompt futures (blue) below. Normally they're pretty close, but right now there's a MAD bid for physical crude in the region—$100/bbl futs, $140/bbl physical barrels.

*IRAN DEMANDS GUARANTEES: CONTROL OF HORMUZ AND DEATH TO AMERICA The stock market: