| Ripple Effect — April 24, 2025
Since President Trump’s “Liberation Day” announcement earlier this month — although it may feel much longer — markets have tanked and then seen some massive rallies.
Where will stocks go from here? It depends on who has the President’s ear next.  If Treasury Secretary Scott Bessent continues to have the President’s ear, we’ll likely see stocks recover and the trade war calm down sooner rather than later. That’s the good news.
The bad news? Bessent is the one person in the Trump administration closest to the unsustainable status quo of America’s soaring empire of debt.
Meanwhile, if Commerce Secretary Howard Lutnick or Senior Advisor Peter Navarro hit up the media circuit, look out below. They’re both proponents of higher tariffs, and sticking it to China, both moves that the market hates right now.
-Addison P.S.: As always, your cheerful reader feedback is welcome: feedback@greyswanfraternity.com (We read all emails. Thanks in advance for your contribution.)
How did we get here? Find out in these riveting reads: Demise of the Dollar, Financial Reckoning Day, and Empire of Debt — all three books are now available in their third post-pandemic editions. You might enjoy one or all three. 
(Or… simply pre-order Empire of Debt: We Came, We Saw, We Borrowed, now available at Amazon and Barnes & Noble or if you prefer one of these sites: Bookshop.org, Books-A-Million or Target.)
Please send your comments, reactions, opprobrium, vitriol and praise to: feedback@greyswanfraternity.com |
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