trump blinked due to :

bond market / freezing of funding market / pressure from all sides

“You see, at first, when someone says, 'Let’s impose tariffs on foreign imports,' it looks like they’re doing the patriotic thing by protecting American products and jobs. And sometimes for a short while it works – but only for a short time. What eventually occurs is: First, homegrown industries start relying on government protection in the form of high tariffs. They stop competing and stop making the innovative management and technological changes they need to succeed in world markets. And then, while all this is going on, something even worse occurs. High tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce trade wars. The result is more and more tariffs, higher and higher trade barriers, and less and less competition. So, soon, because of the prices made artificially high by tariffs that subsidize inefficiency and poor management, people stop buying. Then the worst happens: Markets shrink and collapse; businesses and industries shut down; and millions of people lose their jobs.”

The S&P 500 fell 9% for the week and capped the worst two-day plunge since March 2020. The rout has shed about $5 trillion in value so far.

The Nasdaq 100 entered a bear market. European stocks tumbled into a correction.

Wall Street’s fear gauge — the CBOE Volatility Index or the VIX — spiked to 45.

Treasuries and the Japanese yen rallied as investors sought havens. Ten-year US yields dipped below 4%.

The dollar was volatile, rebounding 1% on Friday. It had plunged in the previous session as Deutsche Bank analysts warned of a “confidence crisis.”

Bitcoin was trading about 2% higher on Friday around $83,800.

Oil tumbled to a four-year low. West Texas Intermediate futures fell about 12% in just two days. Copper plunged below $9,000 a ton.

The cost to protect investment-grade debt against default surged by the most since the regional banking meltdown of March 2023.

from bloommberg

from @jam_croissant :

If you didn’t already understand the current White House’s approach from their budget, Bessent is telling you 🔊 loud & clear, if you care to listen👂.

This is what he is saying in plain English:

- They want to slow demand in the real economy & hence slow inflation, by distributing less 💰 to people, via slowing wage growth and less social services to American’s in the median income on down?

How?

A/ Cut Government Employment

B/ Cut Medicare

C/ Cut Snap Food assistance and School Lunches

D/ Cut Low income Housing Assistance

Then, as these cuts take hold in the next 3-6 months…

- Meanwhile, they plan to in Equal amounts Increase supply side stimulus to get ‘private Industry moving,’ this will send money to the top 0.1% of the top wage earners. Not increasing inflation, while stimulating economic growth.

How?

A/ Massive Corporate Tax Cuts

B/ Gut the IRS and corporate financial oversight to reduce taxes further.

C/ Deregulate to allow corporations to operate untethered to increase profitability.

D/ Drill baby Drill

The demand side policies take effect quicker than the supply side, So… as cyclical deflation takes hold in 6 months or so… they plan to respond quickly with:

Loose Monetary Policy switching back from QT-> QE

take it however u see it

first time ? 😂

i’m kfc final boss 😎

sometimes you will never know the value of a moment until it becomes a memory

ayyy

full understanding of the universe without having to worry about food and rent

the duo 😭

The alternatives are:

1) Pump food and oil to inflate away the debt, in which case billions starve to death, possibly violently.

2) Default on the debt & execute the Great Taking to keep the system from collapse, leading to Great Depression 2.0

3) Productivity miracle

4) Inflate something "not used for anything" so no one starves & no debt collapses in nominal terms.

- luke

dudes with $10m in assets and would still live like this , same for me

The essence of an attractive man.

“A man who is comfortable in his own skin

Knows where he’s going.

And has fun while he’s going there.” — Dr. Robert Glover

direct plays of falling dxy strength :

bitcoin

gold

stonks

real estate

welcome to nostr

interesting 🧐

no risk no stories

Big Tech's having its own nuclear arms race :

amazon invests over $500 million to develop small modular reactors

google signs deal with nuclear company as data center power demand surges

microsoft data centers are powered by three mile island nuclear plant