President Trump says tariffs can boost the American economy and fund tax cuts, with foreigners footing the bill. But our Economics editor, @currhenry, argues that tariffs might be a dead end for America econ.st/4hSlmuu
BREAKING: Median cost to buy a house hits a new record of $2,748/mo, up a MASSIVE 90% since 2020.
In other words, buying a house today costs nearly $33,000 per year.
This is 46% of the median PRE-TAX household income in the US.
Post-tax, homebuyers in the US are spending…
PART 5: The Great Depression vs today
As in 1928-29, stocks have risen in spite of major Fed tightening.
The M2 money supply is falling at the fastest rate since 1933.
Again, major banks have failed.
Just how similar is today’s economic backdrop vs the Great Depression?
🧵
What's next for the market? It may depend on liquidity dynamics and whether the Fed’s Quantitative Tightening (QT) efforts continue to be offset by the interplay of reverse repos (RRPs) and the Treasury’s cash balance at the Fed (TGA). So far, it has all been a wash.
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