In yesterday’s commentary, which was prepared earlier in the week, I proposed looking at the estimated tariff shock as equivalent to a new $2/gallon gas tax.
As new tariff announcements have been made through this week, however, that estimate now appears to be too low.
I am traveling to Leen’s Lodge for Camp Kotok next week. I paused yesterday in Bucksport, Maine, looking across the water at Fort Knox (a Civil War-era fort), to comment on the evolving tariff shock in a Kotok Quick Take.
Our local university, serving more than 14,000 students, is again under attack in Sarasota.
We have witnessed repeated reports of unusual transactions right before public announcements. This is NOT corporate insider trading. Is it government insider trading?
We consider (1) what the US hantavirus outbreak response tells us about US readiness, (2) the consequential matter of public health messaging, and (3) the economic impacts of discouraging the treatment of depression and anxiety with SSRIs.
As this morning’s headlines suggest progress toward ending the Iran War, I reflect on the markets, a measure of hope, and the enduring problem of the IRGC.
David would love to hear from you. Please Feel free to reach out and send an email.