Woodside, page-5172

Hi Cuppa.

I knew we'd get there with the salutation - good work!

Apologies for the latent response, I've been busy pondering life.

One of you primary tenets regarding TACO, is he does what he says he will and more particular cutting wasted spend and so called corruption. So with that in mind its hard to reconcile your caviler attitude toward the significant military spend and achieving six audit fails. I don't have much faith the push by the administration to up domestic spend here isn't simply another opportunity to SELL us US military weapons, much in the same way they've done in the ME. How you've equated that to ideology escapes me.

You missed the point on tariff's. You stated in your previous post that there had been zero impact and I was simply pointing out that the data doesn't include 'impact' because they didn't start until toward the end of the period. I think even your myopic perspective would agree that one 'thing' must come before the 'other'.

On that note, I'd prefer to take my guidance ultimately from the FED, who have halted rate decreases because they are concerned about the impact of tariff's on price paid by the consumer - i.e. tariff inflation! A couple of hundred PHD's making decisions on how they see this dopey policy pan out seems to be a more prudent decision then listening to convoluted hearsay on HC. That's just me.

Lets walk through the mechanics. The Trump Admin place a 15% tariff on importers. On a $3.36 trillion import, that is a very big number that 'someone' need to pay. Walmart's margin last year was 2.4% - do we really think they are going to eat that sort of tariff - they are almost every other retailer is going to pass it on to the consumer, which makes up 70% of GDP! TACO continually saying consumers won't pay more is pure fantasy. What happens if the tariff's are higher? Prices UP!

Interesting that the Trade Minister is a Hedge Fund veteran who is the business of market volatility - so the more volatile the market the more money he makes! Ironic that he is the architect of the fanciful "Liberation Day" fiasco. A Check-Mate position for him, not so much for the market. The cynic might say he's myopically focused on optimizing his company's financial benefits - its certainly done extraordinarily well these last few months.

The Trump financial conservative pipe dream blurring your vision is ludicrous but especially because you are suggesting he is an exception to the rampant corruption that has existed in the US for decades. He is the 'King', not only because the 'BILL' contains massive spend that adds to the total debt but because he is morally unfit as proven by his decades of debauchery as I've previously noted - the $400m gift is a beacon confirming his now audacious 'grift' preponderance. You never defended your sycophantic admiration for him, despite the litany of evidence confirming my point.

I'd say there's plenty of policy drift on spend cutting going on and the only way he can ensure the market goes up is continue to do what has been done for years. The valuations are toward the extreme, which is opportunistic for those who are patient and can wait for better value, like W Buffet and his record $348B cash position. Seems like a reasonable anchor to take guidance from.

So what is likely to drive revaluation? Awareness and acceptance that company's or/and the consumer will eat the tariff's - the Pink Pixie isn't going to pay for them!! Give the extreme valuation's (22x Forward Earnings) the volatility is expected to be very high. Great for one of the Cabinet Ministers'. Anyway, I'd rather be early on the exit, then late - what about you?

The Trust in the USA Brand is being vaporized before your eyes, and you are in the camp that has been hoodwinked by the morally corrupt Grand Master promising salvation but hypocritically deconstructing the last bastions of accountability.

Treasury Yields UP
Inflation UP
Debt UP
Immorality UP
Volatility UP

Like I said, its not going to be good Cuppa, but you try and be.