Valuetainment - “Musk Broke With Trump” – Trump’s MASSIVE China Tariff Threat Ignites EXPLOSIVE Trade War

00:00:00.000 The Dow Jones industry ever plummeted more than 2200 points on Friday following 1679

00:00:05.640 previous drop, marking its worst session since the start of COVID 2020 as Wall Street's blood

00:00:13.180 bat erased $6.4 trillion in market value just in two days due to China's retaliatory 34%

00:00:19.340 levy on U.S. imports starting April 10th in response to Trump's reciprocal tariff plan

00:00:25.700 imposing a 54% tax effective April 9th, the tech-heavy Nasdaq fell 962, 5.8% entering

00:00:33.900 bear market territory with a drop exceeding 20% from its December peak while S&P 500 declined

00:00:39.540 322 points or 5.97 amid global stock market descent driven by fears that Trump's 10% baseline

00:00:46.740 tariff would harsher rates for many nations could stoke inflation and trigger a recession

00:00:52.380 as noted by Federal Reserve Jerome Powell who warned of a potential persistent risk in

00:00:58.220 inflation.

00:00:58.740 Brandon, your thoughts on this story?

00:01:00.300 Yeah, so a lot to cover here.

00:01:01.840 So, I mean, first and foremost, I'm super happy that the market's starting to go down.

00:01:06.000 I think, honestly, you know, people are going to hate this, but I think the best case scenario

00:01:08.880 for the most people would be if the market goes down by something like 50% because...

00:01:13.580 50%?

00:01:14.080 Yeah, because, I mean, 10% of people own 90% of the stock market.

00:01:16.960 So, like, the vast majority of people who own the stock market are, you know, the top

00:01:20.060 10%.

00:01:20.580 And, you know, 50 years ago, I looked this up.

00:01:24.220 So, like, what would you guys imagine it took for an amount of hours worked to buy a

00:01:28.460 share of the S&P 500, say 1970, what would you guess?

00:01:31.860 20 hours?

00:01:33.100 Yeah, no, exactly right, actually.

00:01:34.300 Is it really?

00:01:34.860 Yeah, yeah, right.

00:01:35.280 Hey-oh! 1.00

00:01:36.320 You know what it is today?

00:01:38.140 60.

00:01:38.920 170.

00:01:39.540 To what?

00:01:40.240 To do what?

00:01:40.880 To buy one share of the S&P 500.

00:01:41.940 You need to work 170 hours today to buy one share of the S&P 500, but you have to

00:01:47.740 work 20 hours 50 years ago to buy a share of S&P 500.

00:01:51.600 I have my opinions, but I want to hear it.

00:01:52.860 Keep going.

00:01:53.280 Yeah, no, so, I mean, we've...

00:01:54.700 And this goes into what we did with China.

00:01:56.360 Like, you know, so when we got off the gold standard, when we started offshoring our jobs

00:01:59.720 to China, that's where the wealth gap really widened between the working class of America

00:02:04.360 and, you know, the people who run companies in America, like, because profit margins got bigger

00:02:08.320 and then wages didn't keep up with the stock market growth.

00:02:10.820 So, we've essentially, like, decimated our middle class.

00:02:14.060 And, you know, for young people, too, like, I've been waiting to buy the dip for 15 years

00:02:17.940 now, and there hasn't been a dip to buy.

00:02:19.600 You know, some people might say, like, COVID, but that, we just pumped money into the economy

00:02:22.920 right away.

00:02:23.380 Some people might say 2008, but we did quantity of easing right away after that.

00:02:26.740 So, we have...

00:02:27.400 Brandon, how old are you?

00:02:27.900 How old are you?

00:02:28.300 Just turned 30.

00:02:29.200 Just turned 30.

00:02:29.720 So, 15 years was 15 years ago.

00:02:31.680 Yeah, but waiting to, like, really feel like I could buy the dip for 15 years, and, you

00:02:34.740 know, it hasn't come.

00:02:35.420 At 15 years old, you were looking at investing.

00:02:37.520 Good for you.

00:02:38.220 Thinking about it, yeah.

00:02:38.680 Yeah.

00:02:38.820 So, okay, so, a part of what you're saying is, the gap between the poor, middle, upper,

00:02:45.360 and the rich keeps getting wider and wider and wider, okay?

00:02:48.300 And you wanted to see a massive market crash taking place, maybe a correction, for you

00:02:53.280 to get in, so you can get at a decent price.

00:02:56.460 That's kind of what you're talking about.

00:02:57.940 Yeah, and so that everybody could...

00:02:59.200 And keep in mind, too, the market is way higher than it should be.

00:03:02.160 Like, essentially, the boomers... 0.95

00:03:03.400 Markets higher than what it should be.

00:03:04.340 Yeah, the boomers and Gen X have essentially stolen the future from the millennials and 1.00

00:03:07.880 Gen Z by pulling wealth forward to themselves that belong to the future. 0.97

00:03:11.420 Right.

00:03:11.840 So, you know, it's $36 trillion, and, like, all the deficit spending we do, that's been

00:03:15.160 pulled from the future away from people who haven't even been born yet and put into the 1.00

00:03:18.680 stock market, essentially.

00:03:19.620 Tom, what do you think about this?

00:03:21.080 Well, I think whenever you have an equation like this, and thank you for doing the research,

00:03:24.320 that's good.

00:03:26.420 So, the number of hours was 50 years ago, right, was 20 hours to buy one share of S&P.

00:03:32.480 Today, with S&P at, what, 520 or 490 or wherever you are floating around right now, takes 170

00:03:38.820 hours.

00:03:39.460 So, that's 8.5x, right?

00:03:42.360 Right.

00:03:43.180 What was the P.E. ratio of the S&P going back then?

00:03:47.460 It's usually in the ballpark of, what, 20 to 30?

00:03:49.580 Okay.

00:03:50.100 Well, actually, under Jimmy Carter, it was 7 to 9, and under Ronald Reagan, it was 10

00:03:54.860 to 13.

00:03:55.900 That was the P.E. ratio, if we want to go back that same time.

00:03:58.980 In January, the P.E. was 29, and right now the P.E., and I'm saying of the S&P, is 24.

00:04:05.360 So, wages is the problem, because it's 8.5x in the number of hours, but the P.E. ratio is

00:04:12.960 barely 3x, and actually 2x, if you just go from Reagan, from, like, 10 to 13, that would

00:04:18.220 be 20 to 26.

00:04:19.360 Well, right now, it's 24, and it was 29 beginning of this year.

00:04:23.560 You go back to 2016, it was 22, 24, 25, the three years going into COVID.

00:04:28.940 Yeah.

00:04:29.100 So, I think you make a point, but it's not that the market is too expensive.

00:04:34.420 It's that over all that time, wage growth for the middle class did not keep up, and as

00:04:40.400 a result, an 8.5 difference in the middle number of hours, when the P.E. ratio is really

00:04:47.860 only doubled plus.

00:04:49.680 Yeah.

00:04:50.040 Yeah, because that revenue has gone to corporations that have offshored their jobs and saved a ton

00:04:53.400 of money on production costs instead of going to, you know, decent-paying jobs.

00:04:56.900 So, I think, like, that the tariffs are going to solve two problems at once.

00:04:59.520 It's going to bring the market down to a reasonable level, and it's going to bring better jobs back

00:05:03.340 to America and pull some money away from corporations, because, you know, they've essentially,

00:05:07.340 like, taken money from the workers to themselves by offshoring these jobs.

00:05:10.460 Let me ask you, when you did 50 years ago, was it 20 hours?

00:05:13.320 Was that 1970 or 1975?

00:05:16.420 Because that's a big difference.

00:05:17.580 1970, and then it eventually goes to 40 hours worked, and then by the 90s, it gets to 66

00:05:22.220 hours to buy the S&P.

00:05:23.600 So, okay, if we go in 1970, obviously, a couple major events took place.

00:05:28.320 We've talked about this multiple times.

00:05:29.800 We went off the gold standard with Nixon.

00:05:32.400 We allowed China to come in. 0.99

00:05:33.820 And gradually, the whole ping-pong, you know, and then, you know, World Trade Organization,

00:05:39.860 China gets involved.

00:05:41.140 And then, for us right now, like, the supplies that we have, if you go on Trump's store, all

00:05:45.800 this stuff is not made in U.S.

00:05:47.220 You see, made in China, made in Singapore, made in this, made in that.

00:05:50.060 Why?

00:05:50.840 Labor has to compete for us to bring a lot of the stuff here.

00:05:53.960 You know, you're like, what am I going to do?

00:05:55.280 Am I going to have to compete?

00:05:56.400 Because, you know, America's not known for a lot of the products to manufacture.

00:06:01.200 We've went away from that.

00:06:02.280 We need to get back into that.

00:06:03.700 So, somebody needs to sit there and say, how do I make that competitive in America?

00:06:07.860 We've missed the mark there.

00:06:09.400 And at the same time, the one thing, once we went off of the gold standard, what happened?

00:06:14.040 Debt became so easy.

00:06:15.140 So, people could raise debt and take a business and grow it.

00:06:18.380 And then, so, if somebody has access to debt, somebody leverages debt, somebody risks with

00:06:22.420 debt, the other person doesn't, the disparity of the wealth is going to get wider and wider

00:06:26.720 and wider.

00:06:27.140 The part that they haven't yet figured out is what to do with the median income, because

00:06:31.500 that's definitely not growing.

00:06:33.000 And that should be a concern, because some of these guys cannot afford houses.

00:06:35.660 So, either income needs to go up, correction needs to happen, or people need to go and

00:06:39.800 live in a rural, you know, in a place that no one knows about and turn it into a next

00:06:44.020 Frisco, turn it into a next Palmdale, turn it into a next whatever city that may be.

00:06:47.880 And that's a valid concern.

00:06:48.780 Do you think that we have to compete with labor, though?

00:06:51.080 Because I almost think that tariffs have to protect us against this cheap slave labor from 0.98

00:06:54.780 other countries, because, you know, we could compete with other countries in terms of putting

00:06:58.720 tariffs on them when they have tariffs against us, but labor, how are we ever going to compete

00:07:01.520 with, like, Cambodia and China for labor?

00:07:03.560 Because they could, you know, essentially make people work at slave wages, but we're not

00:07:06.420 going to do that here, so.

00:07:08.120 Well, once you open, in my opinion, once we opened that up and we went into that space,

00:07:14.460 do you know what would happen?

00:07:15.580 So think about it this way, when everybody says Trump's for the rich, okay, you said

00:07:20.100 something earlier, you said 90% of the, what, equities is owned by what?

00:07:25.060 10%.

00:07:25.460 10%.

00:07:25.900 Yeah.

00:07:26.320 So who is Trump really hurting?

00:07:27.740 Yeah, he's hurting the rich.

00:07:28.760 He's not hurting, he's hurting the rich.

00:07:30.300 Yeah.

00:07:30.760 So the rich are being, the rich are the ones, even, even Musk is a little bit like, hey,

00:07:34.800 you know, I don't know if you have that clip, Rob.

00:07:36.320 Yeah, he isn't like, you know, I, you know, let me read this and then, you know, Musk breaks

00:07:40.960 with Trump on tariffs as he distances from the White House.

00:07:44.180 Now, whether there's truth on this or not, who knows, but Rob, can you play this clip?

00:07:47.940 Go for it.

00:07:48.420 I hope that, um, I hope that the United States and Europe, uh, can establish a very close

00:07:59.560 partnership.

00:08:00.920 Uh, we obviously are, there's an alliance already, but I'm hopeful that there can be

00:08:06.540 a very close relationship with America and Europe.

00:08:10.500 Um, and, uh, I'm hopeful, for example, with the tariffs that, that, uh, at the end of the

00:08:16.480 day, uh, I hope it is agreed that both Europe and the United States should move ideally, in

00:08:23.500 my view, to a zero tariff situation, effectively creating a free trade zone between Europe and

00:08:29.680 North America.

00:08:31.120 Um, and, uh, that, that would be my, that's what I hope, I hope occurs.

00:08:37.620 Um, and also, uh, more, more freedom of people to move between Europe and North America.

00:08:43.560 If they wish, if they wish to work in Europe, wish to work in America, they should be allowed

00:08:49.700 to do so.

00:08:50.300 Can you do me a favor, Rob?

00:08:51.740 Go online, type in Tesla sales by different markets, Tesla sales by different regions,

00:08:57.480 and then just go to news, go to Tesla sales by different, go to news, go to the third story.

00:09:03.180 Okay.

00:09:04.040 Look at this here.

00:09:04.900 Go a little bit lower, Rob.

00:09:06.240 So just right there.

00:09:07.540 Tesla sold 45% fewer cars in Europe last month compared to January of last year.

00:09:13.560 So that's, he's, you understand what 45% fewer and what that's not 4% fewer.

00:09:19.260 That's not 10% fewer.

00:09:20.600 So let's just say the stock does bad, but your sales are high.

00:09:23.440 You're fine.

00:09:24.500 It's not that the stocks down.

00:09:27.020 It's the sales are down 45% fewer in Europe than last month.

00:09:32.300 Then BEV sales grew by 37%.

00:09:34.520 That's the China car.

00:09:35.780 That's like a $9,000 car reaching a market share of 16.7%.

00:09:40.240 And self-charging hybrids are Europe's favorite powertrain type with a 34.9%.

00:09:45.800 So Musk is sitting here.

00:09:47.440 I think sales in China is down 29%.

00:09:49.700 If I'm not mistaken, Europe, he's down 45%.

00:09:52.160 And he's down in US as well.

00:09:53.760 So this is affecting a lot of people that are actual big businesses.

00:09:59.180 They're concerned about what this is going to do with the tariffs.

00:10:02.920 But even Musk, right here, I'll read this.

00:10:04.220 Elon Musk publicly diverged from President Trump's on tariff power, advocating at a virtual rally

00:10:08.200 for Italy's Deputy Prime Minister Matteo Salvini.

00:10:11.420 I hope that the United States and Europe can establish a very close relationship.

00:10:15.040 Both Europe and the US should move ideally, in my view, to a zero tariff situation, which

00:10:18.520 is what he just talked about here.

00:10:19.580 So we'll see what's going to happen there.

00:10:21.520 And then he continues talking about possibility of, you know, Peter Navarro on X writing a

00:10:27.440 PhD in e-com from Harvard is a bad thing, not a good thing. 0.97

00:10:30.420 And he aimed to build shit after Navarro defended tariffs on CNN saying, we're trying to do under 0.98

00:10:38.040 the principle that the president wants to charge those countries what they charge us. 0.99

00:10:43.300 So there's a little bit of a rift here with this situation.

00:10:46.040 So we're going to see what's going to happen there.

00:10:47.360 Adam, you wanted to say something.

00:10:48.700 I just want to get back to one point that Brandon made, because you're a young guy.

00:10:53.420 You're a smart guy.

00:10:54.100 I was sort of a little bit younger than you when I really started investing in the stock

00:10:58.000 market.

00:10:58.380 So are you saying that you have not started investing yet because you're just waiting

00:11:02.040 for the dip?

00:11:02.660 You said I've been waiting 15 years.

00:11:04.240 So you just haven't started investing yet?

00:11:06.260 No.

00:11:06.460 So I mostly have done day trading type of stuff for the last 15 years.

00:11:10.360 And I have small investments here and there, but just straight up putting money in the

00:11:14.220 S&P every week, I haven't done that.

00:11:16.140 How have you done by day trading?

00:11:17.780 How's it done for you?

00:11:18.700 No, I'm the biggest benefit from it is I've learned a lot.

00:11:21.240 Like, I can't say that I've done like insanely well day trading.

00:11:23.420 It's a tough thing to do.

00:11:24.520 So I think you're a sharp guy, but here's where I'll tell you that more is caught than

00:11:29.840 taught.

00:11:30.780 So what you're doing is sort of acting on hypotheticals.

00:11:35.640 What I've been able to do and what Pat and Tom is able to do is actually invest in the

00:11:39.560 market.

00:11:40.160 Yeah.

00:11:40.380 So actually experience the ins and outs, the ups and downs, the reds and greens.

00:11:44.360 What year did you start?

00:11:45.780 I started in 2008.

00:11:47.300 Oh, perfect.

00:11:48.000 Yeah.

00:11:48.180 So it's a little bit different.

00:11:49.600 Well, no, because it's not timing the market.

00:11:52.780 It's time in the market.

00:11:54.340 If you're sitting around and just waiting to buy the dip, waiting to buy the dip, you've

00:11:58.620 had opportunities, buddy.

00:12:00.280 You could have done it in, you said you started investing in 2009 to 15 years ago.

00:12:03.700 You said 2010 market was down then you could have done it in 2020.

00:12:08.200 So if you're trying to time the market, you're going to be waiting for the perfect time forever.

00:12:12.420 So it's not about timing the market.

00:12:14.020 It's about time in the market.

00:12:15.920 So, you know, you said something pretty shocking.

00:12:18.020 Like you're, you're, you're praying for a 50% downturn in the market or there's going to

00:12:23.560 be older people out there that are like, are you kidding me, bro?

00:12:25.660 You want your grandma to go poor? 0.99

00:12:27.700 We don't want that.

00:12:28.440 But they stole from us though.

00:12:30.040 All right.

00:12:30.340 Well, you sound like a victim and I've heard that before on this show.

00:12:32.820 No, just the numbers.

00:12:34.020 But at what point are you going to just buckle down and just say, I'm a smart guy.

00:12:40.060 Let me play the long game and just start investing because I've seen so many people do what you're

00:12:44.660 doing and like, I'm going to wait for the perfect time.

00:12:46.520 I'm going to wait for the, there's no perfect time.

00:12:48.620 There's no perfect moment.

00:12:49.820 If you generally started investing 15 years ago and gave up the day trade nonsense and just

00:12:54.740 decade trade, you'd probably have tens, if not hundreds of thousands of dollars

00:12:58.340 right now.

00:12:58.960 So for someone like you buy the dip now and let's see where it is in 10 years.

00:13:04.020 That's how you invest.

00:13:05.480 You think it's a dip?

00:13:06.680 Here's what I know about the market.

00:13:08.460 If you pan out America, the American economy, S&P 500 always wins.

00:13:13.240 If you follow day to day, here's what I guarantee, just because I've seen this a thousand times.

00:13:18.720 Go max.

00:13:19.260 Here's what I've seen a thousand times.

00:13:21.140 Go macro trends.

00:13:22.100 It was bloodbath a couple of days ago.

00:13:25.260 I guarantee you that today is going to be green.

00:13:27.340 It's up back 1300.

00:13:28.820 There we go.

00:13:29.640 Just because I've seen this before.

00:13:31.760 More is caught than taught.

00:13:32.720 I used to look at the market every day and when it's actually your money and not hypothetical

00:13:37.860 woozies and floozies and woozies, you actually notice, oh my God, I made 20 grand today.

00:13:42.260 Oh, I'm down 18 grand today.

00:13:44.000 I made 50 grand today.

00:13:45.540 I'm down seven grand today.

00:13:46.860 It's actual money.

00:13:48.100 And you actually learn how to invest in the marketplace.

00:13:50.900 Without that, you're just talking about what ifs, what ifs, what ifs.

00:13:54.380 So my advice to you is put some money where your mouth is. 0.98

00:13:57.180 Put some money in the market and watch it grow.

00:13:59.280 Would you agree that we've prevented ourselves from having a legitimate recession or even

00:14:04.020 a legitimate downturn for 15 to 20 years?

00:14:06.840 Here's the challenge that I have.

00:14:08.540 Everyone, you're trying to solve for what the American economy should do.

00:14:13.200 Don't worry about the American economy.

00:14:14.820 You know what's the economy you should worry about?

00:14:16.440 Your economy.

00:14:17.100 I am.

00:14:17.460 That's why I'm trying to buy the top.

00:14:19.640 Okay, but you've been waiting 15 years.

00:14:21.980 Well, I mean, realistically, I should have like, yeah, got in during COVID, but yeah, I

00:14:25.240 didn't know that we were-

00:14:25.820 What was Dow Jones at 15 years ago, Rob?

00:14:27.740 Just go where Dow-

00:14:28.480 Macro Trends is a good chart.

00:14:30.240 It shows 90 years.

00:14:31.560 Go to Macro Trends.

00:14:33.600 Macro Trends.

00:14:35.960 So where do you want them to go?

00:14:37.500 There's a 90-year chart.

00:14:39.060 So just go to Dow Jones?

00:14:42.300 Just go back where you were at, Rob.

00:14:43.880 I mean, the way you're going is going to take you a minute.

00:14:45.580 Just go back doing what you were doing.

00:14:46.840 You were fine where you were at.

00:14:48.120 Yeah.

00:14:48.760 Okay.

00:14:49.380 So 15 years ago.

00:14:50.640 Does it go 15 years?

00:14:51.660 Yeah.

00:14:52.180 2006.

00:14:52.800 Go to-

00:14:53.280 No, 15 years, 2010.

00:14:54.700 Where was the market at 2010?

00:14:56.860 It was probably like at 15,000, I'm guessing.

00:14:58.780 But hang on a second.

00:14:58.820 Right there.

00:14:59.820 It's grown 300%, Brian.

00:15:01.240 Yeah.

00:15:01.940 Yeah.

00:15:02.240 From that point on, yeah.

00:15:03.240 So I guess maybe like 10 years is better to say.

00:15:05.720 But-

00:15:06.080 Okay.

00:15:06.560 Where was it then?

00:15:07.120 But if you go 10 years, go to 2015.

00:15:09.200 Even 2015, it's 2X.

00:15:10.780 More than 2X.

00:15:11.540 The whole time, though, we're pumping QE into the market.

00:15:14.260 So it just like, it felt fragile at the time.

00:15:16.480 So like, sorry for being skeptical when we're just propping it up through quantity of easing.

00:15:21.780 Just to be clear, I'm not trying to rip you one.

00:15:23.560 I'm trying to encourage you.

00:15:24.500 No.

00:15:24.660 You're solving for macro trends. 1.00

00:15:27.520 Just put your damn money in it and figure it out. 1.00

00:15:29.580 One last point. 1.00

00:15:30.340 Pat, you'll remember this.

00:15:31.740 COVID happens.

00:15:32.520 March.

00:15:32.920 You talked about this.

00:15:34.320 You were on Jesse Waters yesterday.

00:15:35.460 I've seen incredible takes.

00:15:37.940 Rudy Gobert.

00:15:38.780 NBA canceled.

00:15:39.680 NHL canceled.

00:15:40.280 What's going down?

00:15:41.400 Everyone's freaking out.

00:15:42.280 The market's going down.

00:15:43.260 What do we do?

00:15:44.820 I think the market was maybe at $25,000, $20,000.

00:15:47.460 Cut in half.

00:15:49.260 Everyone is like, I should have sold.

00:15:50.760 Oh, my God.

00:15:51.300 What should I do?

00:15:52.320 Six months later, I'm in the beautiful city of Addison, Texas, talking about Dow just reached all-time highs, $30,000.

00:16:00.860 And six months later, it bounced back.

00:16:03.040 So it's going to bounce back if you play the long game.

00:16:05.580 Let's do this, Rob.

00:16:06.440 Go back to the—and I'm going to make the point here with Brandon for him to consider.

00:16:10.880 Go back to the tweet you had with Peter Navarro and Musk, which I was reading earlier, if you can go to that.

00:16:15.940 Okay, so watch this.

00:16:17.480 Insurrection Barbie. 0.83

00:16:18.460 I don't know who that is.

00:16:19.220 Here's Peter Navarro explaining the tariffs and contrary to the fake experts class that is usually on corporate media.

00:16:25.280 Peter Navarro has a Ph.D. in economics from Harvard.

00:16:28.340 He also is not going to lie to you about what is happening to globalist agenda.

00:16:32.520 Notice how he uses specific details instead of blank statements like chaos, agent, and destroying America.

00:16:38.920 Do you have the clip, Rob?

00:16:40.120 I do.

00:16:40.640 Yes.

00:16:40.960 Play the clip.

00:16:41.520 Let's see what he says.

00:16:42.140 And then watch Elon Musk's response on the bottom.

00:16:44.320 And this kind of ties into what you're saying, Brandon.

00:16:46.920 Go for it.

00:16:47.380 The economist tools, because it's based on concepts like export and import demand elasticities, currency adjustments, and things like that.

00:16:59.220 But here's the analytical issue we're trying to do under the principle that the president wants to charge those countries what they charge us.

00:17:08.920 As you pointed out, Vietnam has an applied tariff rate that's much larger than ours, but doesn't come near the tariff we've charged them.

00:17:20.440 So the question is, how do you value the following, Phil?

00:17:23.800 So let me count the ways.

00:17:25.180 You've got to value currency manipulation.

00:17:28.600 You've got to value the VAT tax distortions, dumping, export subsidies, technical barriers to trade, agricultural barriers to trade, quotas, bans, counterfeiting, intellectual property theft, and all of that.

00:17:43.280 So here's the punchline.

00:17:44.660 If you look at the trade deficit, which every country runs from us, the first thing economists should tell you, ask the next one you have on your show, should the UNS have chronic and sustained trade deficits?

00:17:57.440 No.

00:17:57.700 According to economic theory, they should not.

00:18:00.340 So what the trade deficit does for any given country, it's the sum of all cheating.

00:18:05.800 It's the sum of all unfair trade practices.

00:18:09.040 And in a national emergency where the trade deficit itself is the national emergency and security threat because it takes our factories, our jobs, and transfers wealth abroad, the reciprocal tariff is that which...

00:18:22.120 Watch this.

00:18:22.680 We can pause it right there.

00:18:24.100 Okay.

00:18:24.640 So you see this.

00:18:25.520 Go back to it.

00:18:26.660 You know who disagrees?

00:18:28.020 Elon Musk.

00:18:28.680 Mm-hmm.

00:18:29.340 He says a Ph.D. in econ from Harvard is a bad thing, not a good thing.

00:18:31.940 Result in the ego brains versus one problem, right?

00:18:35.860 So now who's right, who's wrong when you see this here?

00:18:39.300 Sometimes to get like, for example, you and I talk regularly every day and I know who the guys are that you admire, the economists and all these other guys that are in that space.

00:18:48.860 Mm-hmm.

00:18:49.140 Sometimes when you are so, so, so, so, so, so well read, what ends up happening is, what is that phrase?

00:18:56.920 Paralysis by analysis?

00:18:58.240 Yes.

00:18:58.860 That you eventually just don't take any action and you're arrested.

00:19:02.340 You don't even know it.

00:19:03.160 You're living in a prison.

00:19:05.080 You don't even want to know, like, for some it's marriage because you have so much experience.

00:19:10.220 For some it's finances.

00:19:11.380 For some it's exercising.

00:19:13.080 For some it's buying real estate.

00:19:14.540 For some it's having a kid.

00:19:16.600 For everybody it's something, right?

00:19:18.080 Because we have so much information here that we're worried about taking action.

00:19:22.140 But Tom, question.

00:19:23.340 So I'm going to transition into this next one.

00:19:25.000 I thought that was a great exchange and I think, Brandon, probably a lot of people feel like the way you're doing.

00:19:30.040 I actually really like what Adam had to say.

00:19:31.700 Are you a dog person or a cat person?

00:19:33.860 We know this guy's a cat person.

00:19:35.420 Adam.

00:19:36.180 I have a special guest here today.

00:19:37.600 If you can bring them over here.

00:19:38.600 This is my number one therapist for the last 16 years next month.

00:19:43.600 This is our buddy Jimbo.

00:19:44.900 Jimbo.

00:19:45.660 Jimbo is going to be 16 years old next month.

00:19:49.120 And he's wearing some Jimbo.

00:19:50.160 Can we show off what you got on?

00:19:51.620 He's got a future looks bright shirt back here.

00:19:54.580 And because it is, what is it, the National Pet Day, Rob?

00:19:59.440 Can you pull that out?

00:20:00.180 Yes, Friday, National Pet Day.

00:20:01.780 National Pet Day is Friday.

00:20:03.600 We got this gear for you that our merch team thought it was a good idea.

00:20:07.900 Okay, I want to show you this.

00:20:09.020 So if you guys, honestly, if this sells out, I'm going to personally give credit to the merch team to come up with these ideas.

00:20:14.520 And I will say, this is their idea if it goes lights out.

00:20:17.960 Okay.

00:20:18.520 Now, what do we have here?

00:20:19.960 A few different things for you to pick from with future looks bright.

00:20:22.240 All right, frisbee rope toy.

00:20:24.980 This is one.

00:20:26.280 We have this tennis ball.

00:20:27.720 What does it say?

00:20:28.240 Tennis ball sling toy.

00:20:30.340 We have this other one.

00:20:31.220 This is sick, actually, if you look at it.

00:20:32.600 This is the biting, you know, the dog toy and what the leash is that we got with future looks bright on it and vital timing on it. 0.92

00:20:39.080 Gangster.

00:20:39.400 This is the gangster if you're from L.A., New York, maybe a million in Baltimore picked this up.

00:20:43.660 We got some of this stuff.

00:20:44.820 And on top of that, if you go, by the way, look at that Yeti one.

00:20:47.440 Can you zoom into that Yeti one?

00:20:49.140 It's not like a Yeti, like a Yeti dog bowl.

00:20:51.420 It's a dog bowl?

00:20:52.440 Yeah, look how sick that is with future looks bright.

00:20:54.460 I saw Vinny drinking out of one of those this morning.

00:20:56.120 Every day your dog will be excited when he's going through this.

00:20:57.880 Go back, Rob.

00:20:58.840 So let's place an order on one of the things so they can kind of see.

00:21:02.280 Let's place an order on this, hypothetically.

00:21:04.120 If you buy this, watch what happens, okay?

00:21:06.340 So you buy this $15.

00:21:07.640 You add it to the cart.

00:21:08.580 Then it says here, are you team wolf or team meow?

00:21:13.360 So you're going to get a value tainment mug that says meow or wolf, depending on if you're

00:21:19.360 a dog person or a cat person.

00:21:20.600 Obviously, Adam goes with meow and Vinny would go with wolf.

00:21:23.440 But some of us actually like dogs and cats.

00:21:25.620 But anyways, if you got animals, if you got dogs, go place an order for National Pet Day,

00:21:32.780 future looks bright.

00:21:33.520 I never forget one of the shows I watch, cartoons, that it said all dogs go to heaven

00:21:38.020 with the character Charlie.

00:21:39.260 You remember that?

00:21:39.700 What a great movie, right?

00:21:40.900 Cry all the time.

00:21:41.480 If you love dogs, you got dogs.

00:21:42.740 Place an order.

00:21:43.360 Future looks bright.

00:21:44.000 Not only for us humans, but also for dogs.

00:21:46.660 If you enjoyed this video, you want to watch more videos like this, click here.

00:21:49.420 And if you want to watch the entire podcast, click here.

Valuetainment - April 08, 2025

“Musk Broke With Trump” – Trump’s MASSIVE China Tariff Threat Ignites EXPLOSIVE Trade War

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