Net Results
What do tariffs actually mean in real dollars?
The first influx of revenue to the treasury from tariffs showed last week.
$11.7B came into the treasury related to tariffs at then end of April per the U.S. Daily Treasury Statement. This is up from $5B in the same week last year.
2025 Retirement Confidence Survey
The Employee Benefit Research Institute (EBRI) 2025 Retirement Confidence Survey found that 71% of retirees are worried about the government making big changes to the US retirement system. Social Security and Medicare benefit reductions were cited as their biggest worry.
Hardships on the Rise
Bloomberg is reporting hardship withdrawals on the rise.
Earnings this Week
From Apple’s call:
Apple generated $728,761 in revenue every 60 seconds. $183,340 is net income. Wow.
Just wait until it dominates healthcare. Coming soon…
Toys-n-Trade Wars
Toys are in the crosshairs of trade wars. Bloomberg reported a survey of around 400 toy companies showed many were experiencing delays and cancelled orders.
With nearly half of the survey respondents expecting to go out of business within months.
“Just buy the index.”
First 100 Days
Not to perpetuate the bad news but Trump’s first 100 days in office were the worst for the Dow and SP500 since Nixon in 1973. (wsj.com)
- The Dow Jones Industrial Averagehas dropped 6.8% since Inauguration Day on Jan. 20.
- The S&P 500is down 7.3% in that period
- The tech-heavy Nasdaq Compositeis down 11%, its worst start for a presidency since George W. Bush's first term in 2001.
- The Russell 2000gauge of smaller stocks is down 13.2%. That was its worst first 100-day period to start a presidency on record.
Talk About a Study Group…
The starting price for a membership to the new American Growth Partnership, founded by former republican campaign and congressional aides, is $50,000 - $100,000.
The group offers monthly briefings and off-the-record roundtable discussions between its members and Trump appointees.
First event – Chairmen of the FTC and FCC.
(americangrowth.org & wsj.com)
Who owns our Bonds?
China’s share is shrinking fast with UK to the rescue!