Tariffs cut spending, but at what cost? A deep recession is a real possibility. Auto production halting in a week? That’s a warning shot for supply chains.

To make America great again one thing we need to do is transition from an income-based tax system to a consumption-based tax system. Tariffs tax consumption. Since you get less of what you tax, tariffs reduce consumption. So, in the short run that means a severe U.S. recession.

— Peter Schiff (@PeterSchiff) February 3, 2025

"Tariffs will shut down North American auto production within a week," per the Logic: pic.twitter.com/cKKGbK5Xwt

— unusual_whales (@unusual_whales) February 3, 2025

Jaime Dimon of $JPM on the question of whether tariffs will cause inflation: "I mean, get over it. National security trumps a little bit more inflation." pic.twitter.com/IjS55Ldpqn

— unusual_whales (@unusual_whales) February 2, 2025

Prediction:

1) The mkt has been due for a 10%+ correction for awhile
2) I thought it would start in Jan. I now believe it starts late Feb.
3) The newly minted tariff experts on X will blame the correction on tariffs
4) Real truth: After two 20%+ years, it's overdue

— Signal Trader (@datruthbomb) February 2, 2025