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Unknown A
Fox Business suggests Trump creating recession could be a good thing.
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Unknown B
It seems like everyday media or the financial media at least trying to duck on the Trump administration. In fact this morning Bloomberg opinion piece ask whether whatever happened to Trump too.
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Unknown A
You look like shit. You look like a clown. You look like the clown that they bring out that is meant to do prat balls so the audience can throw tomatoes at them for $2 2 of tomato.0.
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Unknown B
American exceptionalism, that particular trait. Now the article went on to say with a pro growth president devoted to deregulation and also the insurances of US dominance everyone else, the conventional wisdom was to pil into US assets and crypto and brace for buying yields in it.
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Unknown A
My pro growth president when every single one of these charts shows a decrease since his inauguration. Literally look, January 2025 right here. 10 year treasury yield down S&P 500 down. Bitcoin down. Dollar index down. Oh, looks like our big brain negotiating presidents actually not so good at his damn job.
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Unknown B
The dollar to surge higher. They say all of that happened weeks after the election. But then they noted that those Trump trades have reversed. Now here's the thing folks. Today we had a monumental cabinet meeting where every question was filled it there was times actually what President Trump was. He had to remind the folks, the reporters say, hey, it's been a month and in fact there's most of the issues that they're dealing with. He has inherited them and yet let's face it, much has been accomplished. Joining me now to discuss is QI Research, the CEO, also chief strategist Daniel Dartino Booth.
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Unknown A
And so Daniel, it shows market holders are just a bunch of idiots. Dude, there are so many articles out there of people anonymously answering interviewers where they're like, yeah, we were really excited about the Trump term. We thought it'd be great for making money. We didn't really think he'd go through with the terrorist thing. We didn't think he'd go through with it. Like how crazy is it that market expectations were increasing all the way up until he became president? That's so weird. That's so unusual. Usually the honeymoon period lasts longer than 0 seconds. It's literally about consumer trust and faith. It's literally about like how good people feel about the economy. Not any like direct law impact. Not. It's not like Trump has passed a law that has made the dollar weaker or whatever. It's just that all of these like you flip a switch and it's like, oh my God, he is gonna be that stupid.
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Unknown A
He is gonna push for tariffs. He is going to devalue dollar. Yeah.
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Unknown B
What I thought was compelling about the Bloomberg piece, like a lot of these efforts to sort of Disney administration, I had a lot of contradictions.
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Unknown A
Jesus. Bitcoin is down 5% today alone. Whatever.
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Unknown B
They also had a chart in there that to me actually proves that this administration is doing a lot because this is how you measure it. Lower yield bond yields, lower crude oil and a lower dollar. That's.
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Unknown A
Yeah, dude, that's what people voted for. That's true. Guys, we need quickly. Okay, hold on. Things are going badly. We need to really quickly move the goalosts. What if we move the goalpost to the exact opposite side of the field? What if we move. Donald Trump has exceeded all estimations in the devaluing of the dollar. That's great, man. It's genius.
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Unknown B
The recipe for Trump and company, they say this is the recipe to spark a second American century. What are your thoughts?
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Unknown A
Holy shit, man. In the back room, like, the people watching this is against broadcast. They're like, do you think people are gonna buy this? Donald Trump exceeded all estimations in how expensive the eggs have gotten. You know, wow, look at how high up those prices have gotten, huh? The American century is here. Finally, we're back to the good oldl days. It sounds hyperbolic, but it's literally 1980 pore. No, it really. It actually is. Yeah, it really. That's true. That is true. It is. Now, Trump has said before that he wants to devalue the US dollar, but he has campaigned thelar being strong because he's a liar. Devaluing the dollar makes America more better as an exporter, as a manufacturer, an exporter, which might be beneficial to some industries in the long term. Its not great for US Citizens making the dollar strong. Its good for us from a purchasing power kind of sense.
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Unknown A
Allows us to buy our delicious, cheap Chinese treats. Lets see them redefine. Donald Trump'snna be doing a state of the Union address and he's gonna be like, my fellow Americans, the dollar has never been. This week they told me it couldn't be done. And I showed him. Oh, I showed him Joe Biden's dollar. It was so strong. It was through the roof. People said, no one believes you could get a dollar that's strong. It was disgusting. Now eggs are $45 a dozen, the dollar is worth 57/100 of a euro, and America is looking better than ever.
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Unknown C
Well, Charles, I do think that if you're stating those goals in isolation, that they have certainly been met. But you know, the Wall Street Journal had ansting she's, she, they didn't brief.
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Unknown A
Her before the broadcast, so she'like yeah, if that's what we're accepting as a victory, then yeah, I would say that's pretty good. I have always wanted eggs to be more expensive. I always thought they were underpriced.
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Unknown C
I do think that if you're stating those goals in isolation, that they have certainly been met. But you know, the Wall Street Journal had an interesting story out last week that noted that the top 10% of American earners are respons for 50%, 49.7% of spending. So to the extent that lower yields are also accompanied by losses in riskier assets such as stocks or cryptocurrencies, then we could begin to be flirting with an issue. If that top 10% that controls half of spending decides to be a little bit more reluctant and start to close up their wallets as their portfolios take a hit.
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Unknown B
Right. So the idea then is that some.
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Unknown A
Wait, you're telling me that decreasing consumer interest might hurt the economy? That made no sense. No, no, no, no, no, it made sense. I, I might be projecting a bit here, but I have a feeling she didn't really know what she was signing up for a little bit with this particular segment. So she's like, how do I pitch this? Like, conceptually, how do I, like introduce this information, you know, in an environment where this guy's like, finally, now the dollar is lower, you know, somehow protect.
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Unknown B
The top 10% at all costs so that the stock market high.
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Unknown A
No.
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Unknown C
Oh my gosh, no. Charles. What I'm trying.
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Unknown A
Oh my God. I think I might be right. Actually, there is a disconnect here. She's like, hey, we do want a good economy, right? And this guy's like, what are you talking about over there? Not any wrong thing, huh? You're telling me you don't want dollar eggs.
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Unknown C
Trying to say is we have to look back to history, right? Ronald Reagan is remembered as one of the best US Presidents in history'forget. That when he came into office in 1981, that he slashed federal headcount, actually put the economy back into the double dip recession of 1980 and 1981. Now Charles, that did not last for long. And deregulation and other things that parallel the beginning of this administration ended up taking over and brought the economy out of recession. We just might be in for some short term pain here, which the prior administration was not willing.
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Unknown A
Okay, yeah. She's like, okay, wait, hold on. I have to be agreeable here. Actually, us entering a recession isn't that bad because you know, that time Reagan did two recessions in a row, you know, it ended eventually, right? I like live correcting to be like, oh, I guess we're pro recession and pro devaluing the dollar now. Okay, that's cool. Literally the gu in the work line, I guess're doing triangles now, huh?
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Unknown C
To take and put the country on much weaker footing because of it. And we're learning, by the way, one revision at a time. We just had another one out a few days ago that that perfect economic track record is being rewritten as I.
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Unknown A
Really do appreciate this like live Goalp post moving being presented alongside a bunch of graphs of the market doing poorly.
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Unknown C
You know, re written as being anything but.
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Unknown B
Charles, no doubt about it. I agree with 2000% that, you know, when you change something that's like this, a lot of cash floating around, you know, maybe there's a little temporary pain.
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Unknown A
We also in fel for it again. They're so by day I think you mean Americans, right? We're so we need to, we need to watch Fox Business more as this all develops because watching a bunch of grinning psychopaths like trying to explain how the devaluing of the dollar is actually like based in red pilled, you know, it's actually very good. It's very, very good.