Pomp came on my show to share his contrarian view on tariffs — he shares why he thinks they’re going to be a positive for the economy and American workforce and why he forecasts new ATHs in stocks and Bitcoin by the end of 2025… I wish I was as optimistic.
Discussion
Yeah. I'd as he not surprised if we are already in this start of another multi year bear. Happy to he wrong though.
It’s a better outcome for the future regardless of whether the tarrifs “work” or not.
When the joists have termites, the house is coming down one way or the other, might as well try and fix it.
Replacing an high value added economy by a lower value added one is a net destruction of capital. Few
One of the few times I agree with Pomp
I have no real objections to what Pomp has to say but he emphasizes a lot on the tech-heavy manufacturing side of things, when the US has plenty of other manufacturing that could benefit from these tariffs.
The main issue I see is being able to fill the low level manufacturing jobs in the wake of demand spikes. I’m an engineer/manager in the plastic industry (US) and since covid, it’s been impossible to fill low level positions because domestic manufactures already cant compete with overseas wages, or match any sort of schedule flexibility from the likes of independent contract work like DoorDash, etc. Americans simply don’t want to work these types of jobs anymore in my experience, and companies have their hands tied.
I’ve been working desperately over the last 4+ years modernizing operations and finding ways to ensure the company’s survival in the wake of labor shortages, but the nature of certain jobs makes it near impossible to automate further without significant CAPEX that doesn’t guarantee success.
Does Pomp imply that you automate or die? Is the writing on the wall that companies have no choice but to eliminate this low level work or risk being replaced by the next generation of manufacturing?
Good interview. I like his contrarian takes.
He did say the 10 year is lower…which is now not really true (by much). :(
Hi nat nice to meet you 🤝 I also think that tariffs benefit the United States in the long run. But I also think that in 2025 stock markets and ₿ will go down more and more and it is possible that we will witness the US banking collapse (small banks) due to the massive sale of treasury securities by the Chinese
I believe, like many of your listeners, in free markets so I'm not a big fan of tariffs in general. Having said that, I'm glad I listened to this episode with an open mind. Pomp makes some solid arguments and, like you, I feel more optimistic about the direction the administration is going. And for what it's worth, as a Canadian, I'm glad he brought up the lumber issue - the notion that we subsidize that industry never really sat well with me.
Pomp is just not trustable.
Either he’s a scammer or he is short sided/blindsided to critical issues. I’d like to think he was just short sided with BlockFi.
Regardless, that’s who he is and his advise is not worthy of our respect.
Free markets are always the way to go. Let competitors go at it….