Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

What's going on, guys? It is Monday, February 3rd, and today, you better believe we are talking

tariffs. Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it,

give it a rating, give it a review, or if you want to dive deeper into the conversation,

come join us on the Breakers Discord. You can find a link in the show notes or go to bit.ly slash

breakdown pod. All right, friends, well, unless you have absolutely had your head all a link in the show notes or go to bit.ly slash breakdown pod.

All right, friends, well, unless you have absolutely had your head all the way in the sand,

you will know that we got an economic A-bomb this weekend as Donald Trump followed through on his promise to drop tariffs.

The tariffs were big.

They were pointed not just at competitive countries like China, but at key allies like

Canada and

Mexico, and they basically had the entire world debating whether this was the single most

boneheaded move ever. The Wall Street Journal called it something like the stupidest trade war ever,

or whether there was some 5D chess going on. For the purposes of this episode, we're going to

try to do our best to do something that effectively

no other media outlet seems to want to do, which is actually look at this, at least from a

starting objective point, although that's hard for people, to understand what the hell is going on.

Can't promise we'll get there, but I do think by the end of this, you will at least have a much

better sense of the spectrum of takes around it,

and hopefully your personal opinion, whatever it may be, will at least have the context of all

those other people as well. So, as I said, on Saturday, Donald Trump shocked the world,

...