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Unknown A
The tariffs are finally gonna happen. It's finally happening. Everyone set your clocks to nothing. We'll see. We'll see. Hold strong. It's only one day left. Trump says no room left for deals. That u for deal that avoids tariffs on Mexico and Canada Tariff state neighbors on Tuesday as president also pledges to impose tariffs on farm products starting in April. That's crazy. That's wild. It's an export tariff on American producers. Can somebody explain to me why? Okay. Wall street fell sharply after Trump's remarks. The action is set to prompt swift retaliation. We're ready. Said Canadian Foreign Minister Melanie Jolie. Nice. Tariffs are an activ of war to some degree. Billionaire investor Warren Buffet worm recently. In a sense. To a degree. In a sense. To a degree. I can't believe that Donald Trump is implementing third worldism to the great farmers of the United States. Get ready to start making a lot of agricultural product to be sold inside the United States.
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Unknown A
Tariffs will go on external product on April 2nd. Have fun. Have fun. No way, dude. He where the hashag yolo ass youid fucking. It's real. I know it's real, but it's real. What the hell? This doesn't make any sense. Wasn't the point to to fix our trade imbalance? Why would we have export tariffs if the levers of power over here. Dude. Farmers are already getting hit hard because USAID bought a lot of certain types of crops. Oh my God. It's not an export tariff. He's just wording it wrong. How. What. What is this if not an export tariff? It sounds like he's describing the consequences of an export tariff. It's an import tariff on foreign foods. Like not just Canada and Mexico. No more beans by coffee in bulk. Yeah, no kidding. What the hell. 10 year treasury yield slides as tariff deadline nears u and another 10% on China.
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Unknown A
Is this the happening? I guess it's the happening. I don't really know how he can pull out at this point. He's done it before. But he's explicitly stating too late for a deal to fix this or whatever. Honest to God. Why aren't the rich people making some phone calls? Because it's not just about the proletariat and the bourgeoisie anymore. You know, it used to be way back in the day, before capitalism, how many people owned everything? Like one f guy, like maybe five. You have the nobles, you've got the church, you've got the king. Okay, then you introduce capitalism, right? And in laissez faire capitalism, you know, you've Got free reign with these merchants. They're trading as they want. People start owning lots of things, Lots of people. The business class grows, the middle class grows and there are still oligarchs to be sure. But things are a lot more distributed now though.
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Unknown A
They're reconsolidating. Lots of people own a small business. How many of those people are on the inner circle? They're not. This is being done for the benefit of literally like a few hundred people. The same few hundred people who benefited from 2008 by the way. Because when a recession wipes out wealth, all that means is that you have an opportunity to buy up more shit at low price. If you don't have a lot of money, you get wiped out. You have to sell for pennies on the dollar. You know, your local town business, your small enterprise, whatever, that's all bankrupt. You've got to sell, you've gott sell, you've gott to liquidate. Now the people with the money, they buy it up and when the economy rebounds, they own more. More and more and more gets consolidated into the hands of a smaller and smaller group of people.
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Unknown A
Is this going to be the first ever intentional recession? I'm not economically and historically educated enough to say for sure whether that's the case. Though this might be the most obviously ##iberate recession in modern history. Like I can't. It'll be the funniest. It'll be the funniest. The US plans to nearly triple anti dumping duty rates against Canadian softwood lumber. Published 2 hours ago. No wonder the the market is plummeting right now. Jesus Christ. Doing tricks on it, bouncing on it. It just, is this just so they can sell high before it and then buy low. That's kind of my feeling. I don't want to get too alarmist about this, but I genuinely like, I bet a lot of you don't have more than a quarter mil in the bank. You know, I'm not saying there's go going toa be a bank run or anything like that.
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Unknown A
It would be maybe something I'd be concerned about if I had that. I don't know. I don't know man. A quarter mil because of the FDIC insurance. What does this mean in general? The feeling that I'm getting from this, and this might be a bit conspiratorial, but the feeling that I'm getting from this is that you have two pressures, right? On one hand, populism is getting way more popular because the liberal order is falling apart. Right? And on the other Hand. A small group of people on top are realizing there's no consequences to their financial impropriety. Who was punished after 2008? Nobody. And who benefited from it? Well, a lot of people did actually. And by a lot of people, I mean like a hundred guys or something, you know, because they take advantage of the economic downturn. They buy everything when it's low and then they sell when it's high.
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Unknown A
They love that. And I think what we're looking at is they've just learned to do it deliberately. I think that's it. I think that this. I think they saw what happened in 2008 and they're like, we don't need to have that happen accidentally. We can do that deliberately. We benefit from it. There's no harm. Just make sure a small inner circle of people make a lot of money off it. The people who actually hold the keys to power or whatever do a big like bitcoin strategic reserve or whatever. So when the regular markets crash, it doesn't affect the u. The crypto holdings, you know. Yeah, I've seen the Atlanta Fed's prediction. There we go. Where? Last time they said it was at what? Minus 1.6. Now we're down to a minus 2.8. A minus 2.8% predicted for quarter one 2025. Dam I need to buy bitcoin.
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Unknown A
Have you looked into Curtisar yet? Every stream someone askeds me to look into Curtis Yarvin. Every stream he comes up. I don't know why people. Why do people keep asking this? I know who he is. Bitcoin'even lower. Today they got rug pulled by Trump again. To be fair, most feds are still predicting modest growth. Is Atlanta Fed just an outlier? It's a significant outlier. You know, I would say that its deviance from the mean is worth noting. You're saying bitcoin will be more stable than a dollar? No, I'm saying that bitcoin might be favored more by the people who are deliberately trying to like avoid the crash of the dollar, you know, not really the same as stability. It's a great time to be good at day trading. It's a great time to be insider trading, I'll tell you that much. Canada just made a huge update and opened up massive immigration pathways for skilled trade persons from the usa.
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Unknown A
I don't know why you're telling me I don't have any skills. Don't let the average person think they can make money here. Oh, I'm sorry, My bad for making a little, you know. Oh, doesn't that glob of lava look tasty when Mount Pompeii is erupting? Okay, sorry, sorry. I forgot. We're all dying right now. Ah, there. Is that more tonally appropriate? It does look tasting 200 million worth of crypto dumped into the market before the US Crypto strategic reserve. Right before it or right after it? Mere hours before Trump announced that someone bought 200 million. It. Okay, yeah, bought 200. I said dumped into the market. I thought you meant dumped. Yeah, okay, 200 million. Yeah, it's corrupt. We'll talk about it. We'll talk about the corruption in a second. Okay, Tariffs, tariffs, tariffs, tariffs, tariffs, tariffs, tariffs, tariffs. What does Fox Business have to say about this?
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Unknown A
Do we have any, like, breaking information for them? Can I hear about how this is going to save the economy or something from Fox Business? Elon Musk blasts this key government program as the biggest Ponzi scheme of all time. The program is s Social Security. That's what they're referring to. They just't want to put that in the title because they know a lot of boomers watch Fox Business. Yeah, I don't see any talk about this from Fox. We'll get it when we get it. Buzzfeed Ass title. Hey, listen, okay, you're in the. You're in the. You're chasing the SEO. So a great depression to consolidate power or a recession. What's the difference between a depression and a recession again? Have scientists figured that out yet? Depression Worse. Wow. Thank you for clarifying my misunderstanding. Really, that's very helpful. Everyone, everyone race it first to be the one to respond.
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Unknown A
Recession is a slowing of growth. Depression is actual shrinking. Well, if that's the case, then the Atlanta Fed is predicting a severe depression, not a recession. Is that true? I don't think that's true. Cause the economy dips sometimes. Little to no market growth, negative growth. E. Whatever, whatever. On the tariffs, is there any room left forn and Mexico to make a deal before midnight? And should we expect those Chinese tariffs, the extra 10% to take?
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Unknown B
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 Mr. President, just a follow up on my colleagues question and just so.
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Unknown B
You understand, vast amounts of fentanyl have poured into our country.
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Unknown A
I heard that. Oh, very good.
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Unknown B
From Mexico and as you know, also from China where it goes to Mexico and goes to Canada and China also had an additional 10. So it's 10 plus 10. And. And it comes in from Canada and it comes in from Mexico and that's a very important thing.
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Unknown A
Sometimes the weave affects the the camera feed. How would they consolidate power from depression? You consolidate power economically from the economy collapsing. Politically, you gain power from the rebound. Now, I don't really think that would work in their case because how are you gonna pull a Hitler great economic miracle when you're the one who caused the crash? Hitler didn't cause the Great Depression. Right. Like he came in after that. That wasn't. He didn't do that. That was a whole other set of things. So I don't think, I don't think you can be Hitler to cause it and then Hitler to bring it back up. I don'I don't think that's. I don't think that works. I don't think that two part act works. They can just lie their base beliefs, anything. Mmm. It'there are always limits. Think about the stupidest person you know. The stupidest people that I know, or at least that I've seen online, will just swing votes every election because their sweet treats from China have gotten more expensive.
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Unknown A
Keep in mind that Trump's approval rating is going down continuously with polling. Look, the tariffs roll out tomorrow, okay? He's addressing Congress. U I don't know. He ain't gonna say shit we haven't already heard. Honestly, the way things have been going so far, he might drop some crazy shit like, who knows, man? Elon vp, Elon P leaving NATO. I don't know.