Hello, fellow rebel capitals.

Hope you're well.

So obviously the talk of the town.

Tariffs, Trump tariffs, reciprocal tariffs, tariffs on, tariffs freezing, tariffs cut, tariffs

expanded.

So, and there's just an epic amount of back and forth as to whether or not this is

a net positive.

And of course, it's all based on idea, not all, but a lot of it's

based on ideology and maybe more emotion than thinking. So I, regardless of what your

conclusions are. So I wanted to go over Richard Warner, who is someone I have an incredible

amount of respect for.

And he was just recently on PBD, another really good guy.

And I wanted to, they got a clip.

So I wanted to go over that because Werner gets into the nuance.

There are no simple answers.

So our tariff's good. It depends. And should we worry about a trade

deficit? It depends. Should we worry about a trade deficit with individual countries? It depends.

And Werner kind of dives into the details. And I think it's definitely worth going over because I think anything Werner has

to say on the subject is worth thinking about. So before we get to the clip, I want to go over.

And this is from Bob Murphy. That's not it. That's my MRI for my herniated disc.

You guys want to check that out.

We'll save that for another video.

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