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Unknown A
Tariffs.
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Unknown B
Is there any room left for Canada and Mexico to make a deal before midnight? And should we expect those Chinese tariffs, the ext extra 10% to take a.
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Unknown C
No room left for Mexico or for Canada? No, the tariffs, you know, they're all set. They go into effect tomorrow.
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Unknown A
The Donald Trump tariffs are here and I can tell you the market doesn't like it and neither does Warren Buffett as he's calling it out today. That's the sub of today's video and let's go to the headlines and I'll explain what's going on. Trump says 25% Canada, Mexico tariffs to take effect on Tuesday and the market responded by Dow Tumb was more than 600 points s and P500 post'biggest loss since December. He also got this. President Trump signs executive order to add additional 10% tariff on China. Wall Street Journal says S&P 500 and the NASDAQ fall dollar weekends. Trump tariff looms. Now, regarding Warren Buffett, he was saying active war. He was also saying Warren Buffett calls Trump tariff a tax on goods. Says quote, the tooth fairry doesn't pay him. I want to read the quote from Warren Buffett. In fact, this is not the first time Warren Buffett is called out.
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Unknown A
Trump. Now generally speaking, he'll stay out of politics, not talk about this stuff too much. But recently Buffett has been commenting on Trump and Musk. I read through a letter that he did just a few weeks ago, I think it was, yeah, nine days ago. And I'm basically referring to Trump and Musk as being scoundrels. Let's take a look at what Buffett says this time regarding Trump tariffs. It says for Warren Buffett, tariffs are actually, we've had a lot of experience with them. They're an act of war to some degree. Again, that's Warren Buffett on Trump quote, over time they are attack on goods. I mean the tooth fairy doesn't pay him. And then what? You always have to ask that question in economics. You always say and then what? The basic idea of what Buffett's referring to is often when Trump tries to sell his terrorists to the American people and his mana fans, he acts like that's Trump.
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Unknown A
He acts like its attacks on China and foreign, you know, countries, et cetera. But in reality it's a tax on you, the regular Americans, you're the ones who are gonna be paying it. And in fact it's gonna affect MAGA adversely. Right? It's gonna be negative on you. It's gonna hurt you even More so than his billionaire buddiesy. So for example, and this is sort of why, you know, Buffal will say, well, the tooth fairy doesn't pay him. The basic disip is, let's say tariffs gonn end up costing you an extra $3,000 a year or something like that, Right? So just more money coming out of of your pocket. $3,000 a year is quite a lot of money if you only make say 25,000 a year. But if you're a billionaire, $3,000 extra year in taxes is not a big deal. So I hope you understand like this really simple, you know, equation to simple math.
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Unknown A
It costs you a larger percentage of your income as regular Americans and does billionaires. And so this is why, you know, Warren Buffett say, hey, the tooth fairy doesn't pay. Basically you pay it. On top of that, today, Trump was also questioned like why are you so close to Russia? Have a listen to this.
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Unknown B
This question from Russia is saying that your foreign policy is largely in line with their vision. Should that be concerning to Americans? Said what should that be concerning to Americans? Read the statement that Russia, Russia says that your administration 's foreign policy is, quote, largely in line with their vision.
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Unknown C
Well, I'll tell you what, I think it takes two to tango. And you're going to have to make a deal with Russia and you're going to have to make a deal with Ukraine. You're going to have to have the asent and you're going to have to have the consent from the European nations because I think that's important. And from us, I think everybody has to get into a room, so to speak. And we have to make a deal. And the deal can be made very fast. It should not be that hard a deal to make. It could be made very fast. Now maybe somebody doesn't want to make a deal. And if somebody doesn't want to make a deal, I think that person won't be around very long. That person will not be listened to very long. Because I believe that Russia wants to make a deal.
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Unknown C
I believe certainly the people of Ukraine want to make a deal. They've suffered more than and so that's.
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Unknown A
The question I'POSE to you. Same with the reporter. Should you Americans be concerned that essentially Trump is aligned with Russia? I think it's deeply concerning and in fact, I feel really shameful to be bely frank on Trump and Trump's people. Not only are they ruining the economy, the markets, we're aligning with powers that we shouldn't be. And that's just My opinion on that. The market is generally in agreement with myself. You can see here Trump tariff near deadline With White House debate heating up, it was interesting. There were so many articles coming out Wall street that they were hoping that Trump wouldn't go forward with the terrorist stuff. There's not a lot of winners with this. It'looks like we're all going to lose. On top of that, right? You have this US Manufacturing activity near stagnation while prices jump. If I had to guess at this point, with the trumpetma situation, everything they want to do, be it fire as many people as they possibly can, they wantna replace you all with robots.
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Unknown A
That's their plan. They want to effectively raise taxes. You know, the tarifist situation on you take your money and put it into their pet projects. I just, I don't think this is going to end well. And I'm thinking stflation. So there's already a gross scare in the markets. You'll see it in the bond market. And so, you know, people, if you understand what the economy works is, are feeling uneasy about the future. We've already seen it among, you know, people who are already struggling. They'struggling worse now with Trump's tariffs. And when the market takes a hit, which we just saw today, people are saying that the wealth is 10% will start to feel it. And that's when you really get a downturn. So I'll show you what I mean by that. So these are just some examples of wealth in America. So you have the top 10% of earners earn about 1.3 trillion and then you got the other 90% earned 291 billion.
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Unknown A
So this gives you the difference in incomes that we're talking about here. When you talk about assets, the top 10% in the USA own 87% of stocks, 84% of private business. Right. And they have about 67% of total wealth and then 43% of real estate. So again, this is the top 10% in USA own most of the wealth. And so essentially when the markets take a hit and the people in most the wealth start to feel it in their pocketbooks, they start cutting back, right? They're just like, wow, I'm not going to be investing so much anymore. I'm not going to be trickling down as much as they promise. Trump's a mustk point of view is like, oh wow, that we got to cut taxes even more for the rich people. That's kind of the argument. I think, frankly it's a bad argument to make.
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Unknown A
But what it'end up doing is driving the inequality between rich and poor even even further. Basically the rich will get richer, the poor get poorer. That's Trump'and mustk plan. And on top of that, you know, if you're worried about your job, they say screw you, we're gonna repace you with robots and AI. That's literally what Musk is saying. He's like, o I'm gonna have these robot cards are gonna be awesome and we're gona have this AI and they're gonna make everything so streamlined. And it's just like regular people are like, well, what about my jobs? Right? Like, like you have a plan for me. And Musk is like, well, that's their plan. So I know I make jokes about this stuff, but I just want understand like their plan is ridiculous. And that's sort of why markets don't like it. Very people shouldn't like it.
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Unknown A
The MAGA people, I guess they celebrate when we all burn together. But I just want to tell you what the truth on this stuff is. These are the plan tariffs. It's a long list. I'm just throwing up on screen so you get a general idea. They're gonna go in various timefraamess so some I guess tomorrow, others you're gonna have come April and then maybe some of the later of the year. But this is all subject to, you know, the whims of Trump's tweets. He tweets out the craziest crap all the time. Then I show you guys this one. I don't think I did that. Yeah, so this is what he was tweeting out today. It says to the great farmers of the United States, get ready to start making a lot of agricultural product to be sold inside of the United States. Tariffs will go on external production on April 2nd.
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Unknown A
Have fun. That's according to Trump. So telling all us to have fun to the great farm America. The United States have fun. So that's Trump's point of view on these things. Again, I'm going toa point this out over and over again. Trump'a must plan is to have these tariffs funnel it into their sovereign wealth fund and they're gonna take that money, your money and then build their rockets that blow up and promise you they're all gonna go to Mars. It's guys, it's a big cultt. Basically on top of that, Trump's and us plan is to invite people to know come in. Money laundering in usa. So they're calling it the Trump Gold card. It'basically you pay $5 million and you can come. This would be an invitation to, you know, Saudi money, Chinese money, Russian money, et cetera, crypto money, all that kind of, you know, money laundering kind of things.
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Unknown A
That's how I read this and it was interesting, you know, thinking about this as well. Part of the idea of Trump and Musk is to just basically push you out. I mean, they don't want you to have a job and they want to just push you out. On top of that, you've got stuff like this. The currencies in Canada and Mexico are a bit wobbly. Everyone has is repricing, you know, trade right now. People are repricing currencies, trying for out which you know, countries we're gonna trade with, where alignments are gonna be. Canada is talking about retaliation already. So I mean, this is just what's gonna happen. I mean, if Trump's gonna, hey, we're going toa ra tariffs on you and K's like, well, screw you, we're going toa raise tariffs on you. There's been talk also they may do 100% tariffs on Tesla. My opinion is, please do and we'll see.
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Unknown A
We're going to. So we have to watch that. And then you get these like really bizarre stories that came out today as well where Nvidia stock was down big. It says Nvidia's unofficial exports to China face scrutiny after arrest of silicon smugglers in Singapore. I don't know, I know I shouldn't laugh when I see some, but it's like the first thing that came to my mind was like, you know, Star Wars, Hanz Solo and the Kessel Run, he's a smuggler. But I guess the basic gist is that we're supposed to be cutting off chip sales to China, but what they do is they'll go through Singapore and then they're actually heading to China, but they'll just pretend, you know, that they're heading to Singapore. So that's a big deal actually. And then, you know, then you got all of the cuts that Trump and MUS are making to several programs in usa, right?
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Unknown A
They're cutting your job, cutting your services, cutting your Medicaid, right? Trying to delete or priv private typ Social Security. That's their plan. And again turn you all into robots and AI. And then you got these other bizarre headlines. This is coming out of Texas. Texas official warns against quote measles parties am made growing outbreak. Right? So not only is are Trumpet Musk attacking us economically, he call it economic warfare. Even as you guys saw even Warren Buffett saying this act of war. And then we gotta worry about, okay, now that we don't have, you know, professionals and you know, people in services to protect us, be it CDC or you know, various agencies, fda, we know like our food now we have to worry about whether or not people are having measles properies. And I mean it's like, and I know measles is no joke because I mentioned this before and people who are older said I had know measles and a kid like say in the 1950s or 1960s.
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Unknown A
And it's like, no joke. I laugh about now because it's like for me, I'm actually be 50 this week. You know, it just wasn't a thing. We all got vaccinated and just hasn't been a thing for years. But I guess that's where we're going. And it feels like sort of the trumpet must they want to, you know, just roll everything back as possible and go back to an era where, you know, just a few people had wealth and just a few people had, you know, businesses and everyone else is off the fend for themselves and essentially a squid gamey Hunger Games kind of world. That's where we are. So just want to let you guys know. And you know, it's important to track these things because the more people that see the truth of this stuff, because I get it, I get it more, you know, Trump and Musk will always say, oh, you know, it's not us, it's those dark people over there.
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Unknown A
Or it s those, you know, immigrants over there. Or, you know, that's what they'll say. Or they'll say, oh, it, it's those trans athletes. They're the ones, you know, those five people that, you know, that are in women's sports or whatever. Those five people, it's. They're all their're their fault. Like they' they'll come up with these like ridiculous things and they'll say, oh, and we have to be friends with Russia, so'start learning Russian. I mean, that's, that's kind of where we're going. And so it's like when you read these helings, it's like, are we really talking about measles parties? So anyway, I just want to hear your thoughts on this one and I'll catch you on the next video.