4-12-25 Gary Jeff: Headlines with Steve from Etna

another good point made by Ecclesiastes one nine. What has been done is what will be done, and there is nothing new under the sun. A perfect example of this is the hysteria over tariffs and the stock market. Both stories are being manipulated. Here's what you need to know, mercifully. In brief, founding father and Treasury Secretary Alexander Hamilton gave us the original argument for tariffs, quote to protect America's

infant industries. Following the Revolutionary War, one hundred years later, and Ohioan named William McKinley continued strong tariff policies but his goal was quote protecting American workers wages and jobs, supporting the price of farm goods, and employing reciprocity. Does that sound familiar? There is nothing new under the sun. But you'd think that if lights out for Western civilization

and then there's Wall Street, nothing new here either. If I didn't know better, I think this is master manipulation. The vast majority of trading on stock exchanges involves the rich, Hemingway said. The obvious the difference between the rich and the poor is the rich have more money, so it's their money that is being traded in London, New York

and elsewhere. So assuming that the rich are more in the know than the rest of us, and either they or their stockbrokers are behind most of the trades every day, what the hell is going on? Why does it look like they're losing money? Markets go up and down regularly, and the old adage is you know, you buy loads, you sell hi There is a disturbing example of this

five years ago, March of twenty twenty. This was on the cusp of the COVID insanity, when our own government and private pundits hid the knowledge that the Chinese were behind the gain of function research that we held fund and gave us this deadly bug, And then we compounded a felony by masking citizens and closing the doors of

the United States economy. More to the point, March the sixteenth, twenty twenty, the Dow Jones Industrial Average had its largest point drop and second largest percentage drop in history to that point. But wait, just eight days later, on the twenty fourth of March, five years ago, the Dow had its fourth largest gain in history to that point. Simple question, how could things have been so bad on the sixteenth,

but so rosie eight days later? Remember that ups and downs and markets are inevitable and usually come at predictable intervals, usually about eighteen months. Recessions are also inevitable and fairly predictable. So why the panic five years ago? Could it be that the insiders who knew the truth about COVID and passed it on to their friends saw a golden opportunity to sell high before the predictable panic, then buy at the lows, and wait till the next roller coaster to

do it all over again. As I write this script, we are turning things around on Wall Street in less than one week after that blizzard of selling following April Fool's Day. This talk about terrace is, on the one hand, boring. On the other hand, most enlightening history does repeat itself because humans as a group never change. Some of America's highest tariff rates on foreign countries occurred from the end of the Civil War to the start of World War One.

This was also the period of the greatest annual rate increases in our gross domestic production of goods and services, accompanied by a gigantic advance in technology. As for the stock market, I recall that event back in October of nineteen eighty seven that featured the greatest one day percentage loss at that point in the Dow. It was twenty two zero point sixty one percent in paper losses in

twenty four hours. But if you had just done nothing, no panic selling, your portfolio would have been right back where it started in one year. The market, like some investors, is schizophrenic, except for the insiders because they know better. And by the way, they don't teach economics and journalism schools. So the news isn't really news, is it? Think about that? One? Boys and Girls and Sleep Tight Tonight by Gary Jeff