Hello, fellow rebel capitalists, hope you're well. I am back with my good buddy, Chris Irons,

and we are here to go over some incredibly important topics today. We've got the tariffs,

those auto tariffs. We touched on it yesterday. We're going to go into it a little bit today,

see what the market reaction is. Some stocks up. Some auto stocks getting absolutely crushed.

And there's some insights there that I saw today that I didn't realize last night.

We're going to reveal that.

And also, Chris made me aware of this IPO that could be signaling the AI bubble popping.

So we've got to think through what that is, because it's going to give us the details,

and how does that play into the overall market, how that play into aggregate demand in the real

economy. And then everybody is talking about the U.S. government defaulting. The CBO came out

yesterday and said that they're going to run out of money in August. They called it the X date.

And should you be worried about that?

There are some things that I think probably you should be worried about and some other things

that you absolutely should not be worried about it at all.

There's a lot of misinformation, Chris, out there.

So we're going to get to the hardcore facts today.

So let's start off by going over

what is actually happening. Did you see that Trump came out with the 25% tariff across the board

on cars that aren't made in the United States? I did. Yes. When I was actually going over that

live as he made the announcement yesterday. and one of my questions was, does this just apply to cars or does it apply to car parts?

And it actually does apply to some car parts, which is why GM is getting just absolutely smoked.

And, well, GM more so because they manufacture quite a bit outside

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