Damn Narnia got the shit end of the stick on this one 😂

So much winning.

The Commerce Secretary is telling Fox News that we need Trump's tariffs because other countries don't import enough food produced by the US. Am I missing something, or would exporting more of the food produced in the US tend to increase food prices in the US (because of supply and demand), not make food more affordable? https://www.yahoo.com/news/howard-lutnick-having-cow-because-192700388.html

Today, the extractive class is a complex, often hidden network: landlords collecting unearned rent, banks collecting interest on money they didn’t labor to earn, and private insurance monopolies charging excessive rates and premiums because their industry is anti-competitive and encourages price raising instead of price lowering.

Federal Reserve Chairman Jerome Powell on Friday appeared to back away from a "base case" view that inflation from President Trump's new tariffs could be transitory, saying that "it is also possible that the effects could be more persistent” as the economy digests "significantly larger than expected" trade duties.

Trump at the same time turned up the pressure on Powell, calling on him to lower rates.

"This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates. He is always ‘late,’ but he could now change his image, and quickly," Trump posted on social media, adding "CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!"

Powell made it clear during his remarks at an event in Arlington, Va., that the Fed isn't going to take any rushed actions on rates due to many uncertainties, saying "it is too soon to say what will be the appropriate path for monetary policy."

But because it is now clear Trump's planned tariffs are exceeding expectations, he added, "the same is likely to be true of the economic effects, which will include higher inflation and slower growth."

Between 2018 and 2019, $23 billion was allocated to farmers as direct payments to offset losses from retaliatory tariffs. Soybean producers received the largest share due to their heavy reliance on Chinese markets

Retaliatory Tariffs: In response to U.S. tariffs, China imposed steep tariffs on American soybeans, raising them to 27%. This led to a dramatic decline in exports, with soybean shipments to China falling by 94% in 2018 compared to previous years

Down 10% today, down 33.5% ytd

My wife and I were visiting a jewelry store near my parents early last week to clean our rings. Found a pair of diamond earrings she liked but didn’t want to pay $700 for. I later got her parents and mine to go in for a birthday/Mother’s Day gift but was waiting for a pre-holiday sale they normally have. After reading that diamonds would likely be subject to tariffs I called to order them today. I had a photo of the price tag and gave them the number. They told me the sticker now said $800. Thankfully they gave me the old price because I gave it to them so they could find the right ones.

Not sure if there was gold content or not but, if not, the manufacturer was clearly front running the tariffs in the last 10 days.