March 14, 2025 • 13 mins
Chris discusses the implications of tariffs on businesses, the chaotic leadership style of Donald Trump, and the need for effective negotiation in trade policies. He emphasizes the importance of stability in the market and the adverse effects of uncertainty on business operations. Markowski critiques the current administration's approach to tariffs and trade, advocating for a focus on lowering barriers rather than raising them. He also highlights the potential consequences of political decisions on market reactions and the importance of clear communication with the public. www.watchdogonwallstreet.com
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The Watchdog on Wall Street podcast, explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact that we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
Perfessor Chaos and his terriffs. Yep, yeah, the South Park
reference Butter's. Butter's superhero character is Professor Chaos. That's that's
what we have right now. Oh boy, I can't I
can't wait all of the emails. I'm going to get
messages from the super Trumpsters out there that are going
(00:39):
to come rail me. How there you questioned Donald J.
Speaker 3 (00:42):
Trump. Well, I'm going to question Donald Jay Trump, and
I'm going to put it to you this way.
Speaker 2 (00:49):
Suppose suppose you own an Italian restaurant, or you're opening
up an Italian restaurant and you know you need to
you need to buy wine for your Italian restaurant, and
all of a sudden you find out that you're getting
massive tariffs put on the wine that you have to buy.
(01:11):
You want to have Italian wine, Italian restaurant.
Speaker 3 (01:15):
No winn, no win again.
Speaker 2 (01:19):
You're running a business, You're you're trying to figure out
what your costs are going to be. And again, you know,
I understand prices, fluctu weight, but wham bam, thank you, ma'am.
And you're getting smacked upside the head with something like
this might make running that business a little bit difficult.
And the same thing is true across the board.
Speaker 3 (01:45):
I'm a business owner. I'm a business owner.
Speaker 2 (01:48):
And again, if all of a sudden, all of a sudden,
my costs change precipiously, it makes it difficult. What makes
it even more difficult is not knowing what your costs
are going to be, thinking that they're going to change. Now, yeah,
I understand fluctuations, you know, a little bit here and
(02:08):
a little bit there, but this is this is ridiculous.
I'm sorry all you super trumpsters out there. The market.
The market correct corrected ten percent the S and P
in less than three weeks. In less than three weeks. Now,
I've said this before, I I you know, the markets
(02:30):
need to correct.
Speaker 3 (02:31):
They happen.
Speaker 2 (02:32):
We talked about intra year movements to the downside, averaging
fourteen percent. But this escalated quickly. This escalated quickly, and
there are going to be repercussions for this. Captain Donald
Trump's alter ego He's got. He has his alter ego,
(02:53):
like Butter's alter ego on South Park Captain Chaos. This
is Donald Trump is Captain Chaos. He doesn't have to be.
He doesn't have to be. But I don't know why
he feels the need to revert to this. We had
a very optimistic view of what was going to happen
(03:14):
as far as business was concerned, deregulation, taxes, moving forward.
Speaker 3 (03:20):
I don't understand.
Speaker 2 (03:23):
Why he needs to be doing what he's doing right
in the way that he's doing it, quite frankly. And
the funny thing is he's sending his little messenger boys
out there. He sends Lutnick out, he sends Navarro out,
he sends Bescent out, you know. And again they're trying
to hold back the tide of people being like what
the hell man, and they're not getting anything. And again,
(03:45):
you know, Trump will roll out in front of a camera,
you know, just again. This is It's given me PTSD
starting to remind me the COVID times got to get
in front of a camera every single day, and he's.
Speaker 3 (03:58):
Got to up. Nope, I'm not gonnagotiape. This is the
way it is. We're not backing down when it comes
to terrace. We've been ripped off here, there, and everywhere,
and then you throw.
Speaker 2 (04:08):
Other things on top of it. It's like he's beating
a dead horse. With some of the talk in regards
to Canada becoming the fifty first state and annexing Greenland
and we am military is going to go into the
Panama Canal. You do understand that most Americans it doesn't
(04:34):
sit well, doesn't sit well with them. You know, all right,
you made the quip about Trudeau and you called him governor.
Speaker 3 (04:41):
Fine, okay, you did it once. You're still doing this.
You're still doing this. I don't see the need and
what's the point so.
Speaker 2 (04:56):
You can get your you know, the the super trumpsters
on social media, you know, you make them horny because
you fire off a ridiculous quip like that. It's not necessary,
it's it's the shtick is I'm sorry, but that stick
is growing freaking old already. Grow up, man, grow up,
(05:17):
Stop with this nonsense. And Cannon's great, Cannon is going
to be in a fifty first eight.
Speaker 3 (05:22):
Stop it. I mean again, why why do you feel
the need to do that? I don't get it. You know,
I understand you.
Speaker 2 (05:34):
You can definitely cut a defense deal with Greenland without
all of this nonsense had taken place. Panama Canal, you
sent Rubio down, You kind of took care of that.
Speaker 3 (05:44):
All right, leave it.
Speaker 2 (05:49):
I don't feel the need to go I mean off
script here with this crap. You were, you were heading
in the right direction.
Speaker 3 (05:58):
And you drift it. You and again, listen, I get it.
Speaker 2 (06:04):
Okay, when you want to handle and bring tariffs down,
and you want trade to be freed up, and you
want to get everything, I get all of that. But
the focus shouldn't be on raising tariffs. It should be
on lowering tariffs. Now, now Trump comes out and he
(06:24):
talks about we've been getting ripped off here and we've
been getting ripped off there.
Speaker 3 (06:28):
We will we do the same shit, man. But why
do you think we pay like three times as much
as the rest of the world does for sugar? We do?
Speaker 2 (06:41):
But why do you think you know our sodas that
wet corn syrup, and so much of the sugar retreats
we have here in this country is because sugar is
so damn expensive. Why because of big sugar here in
the state of Florida, run by the fan Jewel brothers
have donated significant sums of money to bout Democrats and
Republicans in Brazil. In Brazil they have so much sugar. Okay,
(07:09):
they act their ethanol is not made with corn.
Speaker 3 (07:13):
It's me.
Speaker 2 (07:13):
You can actually drink drink their ethanol that they put
into cars. I kid you not. Why because again, we
have protect We protect certain businesses and industries as well.
What but the tariffs we put on trucks coming in
(07:36):
to this country massive, I'm not mishaken and protecting our
pickup industry here we do it too. The focus should
be on lowering TIFFs and lowering barriers, not raising them.
(07:56):
That's problematic. We want to continue to do business around
the globe. We want to continue to sell to people
around the globe. Let's be on Okay, great, we've got
a great market here. Three hundred and thirty million people
to help a lot more people in China, held a
lot more people in the European Union, hell of a
lot more people in India.
Speaker 3 (08:15):
That we want to sell to. And we need to
bring these things down.
Speaker 2 (08:18):
Now, let's look at Captain Chaos and what he's done
to his agenda. Listen, okay, I know a lot of
the maggot types, and he brought a lot of people
over to vote for him this time, a lot of
younger people, a lot of people out there, a lot
(08:39):
of younger people right now, you know, newer investors utilizing
some of the trading apps.
Speaker 3 (08:45):
Robinhood just got crushed and they just had again.
Speaker 2 (08:51):
They just had their faces, I mean, a major correction
within three weeks, just had their faces ripped off, and
they're like, wtf. You got to get them to vote
in the midterms right that. They're not happy. A lot
(09:13):
of people taking taking a look at their four one case. Okay,
this is all short term stuff. Okay, it's all short
term stuff. I'm not freaking out about the market and
the market reaction. Markets need to sell off. But you
did it, Okay, to make no bones about it.
Speaker 3 (09:32):
He did own it. Okay, take ownership. You can come out.
Speaker 2 (09:36):
Yeah, I tank the stock market and this is why,
and this is why it's going to turn around. And
they keep talking about short term disruptions. They're not going
to be able to get their agenda passed. They just
put forth this continuing resolution right all right, to continuing resolution.
I'm pushing it to September. What if you don't have
any political capital comes September, you gotta get nothing done.
Speaker 3 (10:00):
You are gonna get nothing done. That's like George W.
Speaker 2 (10:04):
Bush spending all of his political wins in the second term.
Speaker 3 (10:09):
When's the second term?
Speaker 2 (10:10):
Has this agenda gonna reform SOULI security and do these
various different things, actually do some good things.
Speaker 3 (10:15):
Did he get any of it done? No? Because he
was too busy dicking around in Iraq.
Speaker 2 (10:23):
Well, you're gonna spend time messing around with this tariffs
and this nonsense. You're you're not gonna be able to
get anything done. You're not gonna get your your tax
cuts through. You're gonna get pushed back from Congress. Yeah,
they're holding their fire right now, they're keeping their their
(10:44):
mouths shut.
Speaker 3 (10:46):
That's not gonna last. It's not gonna last. I get it.
Speaker 2 (10:51):
I get you want to you want to redo some
trade policies, all this stuff.
Speaker 3 (10:54):
Okay, let's figure out. Let's sit down at the table.
Speaker 2 (10:58):
Let's stop with this tit for tat and this crap,
this TV show, this Captain chaos crap that you're waging
on TV and in social media, where it turns out
it's like some sort of rappers battle where you're trying
to like insult someone more than the other person. Oh man,
you got this, Oh I got no. Be an adult,
sit down and negotiate. Don't negotiate on social media, on
(11:21):
truth social Stop with the quips, stop with the nonsense,
and give, for crying out loud, the people who voted
for you, some semblance of what's going to happen next,
because right now it's chaotic, it's plain and simple. Businesses
are like, I don't know what's going to happen next.
Speaker 3 (11:44):
I don't know what my costs are going to be.
Speaker 2 (11:46):
For crying out loud, man, you built buildings, how would
you like it?
Speaker 3 (11:52):
How would you like it? If you had no idea.
Speaker 2 (11:54):
What your building costs were going to be because of
tariffs by the president, you'd be freaking out out. So
he kind of honest, he's got to get his act
together at this point.
Speaker 3 (12:07):
This is this is my always been my fear with
this guy.
Speaker 2 (12:10):
And I gotta yeah, I can kind of like, you know,
watching the things that we're getting done, stuff done by
Elon Musk, the dose stuff, some of the things that
were done and they continue to do. When it comes
to immigration fantastic. But again, you're doing well. Show a
little humility, Okay, tone it the hell down, figure, get
(12:36):
get this trade crap behind you so we can move
on and actually get things done. This is a damn
This is a damn side show right now, and businesses
around the country are paying the price.
Speaker 3 (12:55):
Now.
Speaker 2 (12:55):
I'm sorry, super trumpsters. You can come out with your
butt but but but but but but all the butt.
Speaker 3 (13:01):
Monkeys out there, it's on him. Fix it. Fix it.
Speaker 2 (13:07):
If you got to eat a little crow because you
had a big mouth over the past couple of weeks,
do it.
Speaker 3 (13:13):
Watch dog on Wall Street dot Com.
The Watchdog on Wall Street podcast, explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact that we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
Perfessor Chaos and his terriffs. Yep, yeah, the South Park
reference Butter's. Butter's superhero character is Professor Chaos. That's that's
what we have right now. Oh boy, I can't I
can't wait all of the emails. I'm going to get
messages from the super Trumpsters out there that are going
(00:39):
to come rail me. How there you questioned Donald J.
Speaker 3 (00:42):
Trump. Well, I'm going to question Donald Jay Trump, and
I'm going to put it to you this way.
Speaker 2 (00:49):
Suppose suppose you own an Italian restaurant, or you're opening
up an Italian restaurant and you know you need to
you need to buy wine for your Italian restaurant, and
all of a sudden you find out that you're getting
massive tariffs put on the wine that you have to buy.
(01:11):
You want to have Italian wine, Italian restaurant.
Speaker 3 (01:15):
No winn, no win again.
Speaker 2 (01:19):
You're running a business, You're you're trying to figure out
what your costs are going to be. And again, you know,
I understand prices, fluctu weight, but wham bam, thank you, ma'am.
And you're getting smacked upside the head with something like
this might make running that business a little bit difficult.
And the same thing is true across the board.
Speaker 3 (01:45):
I'm a business owner. I'm a business owner.
Speaker 2 (01:48):
And again, if all of a sudden, all of a sudden,
my costs change precipiously, it makes it difficult. What makes
it even more difficult is not knowing what your costs
are going to be, thinking that they're going to change. Now, yeah,
I understand fluctuations, you know, a little bit here and
(02:08):
a little bit there, but this is this is ridiculous.
I'm sorry all you super trumpsters out there. The market.
The market correct corrected ten percent the S and P
in less than three weeks. In less than three weeks. Now,
I've said this before, I I you know, the markets
(02:30):
need to correct.
Speaker 3 (02:31):
They happen.
Speaker 2 (02:32):
We talked about intra year movements to the downside, averaging
fourteen percent. But this escalated quickly. This escalated quickly, and
there are going to be repercussions for this. Captain Donald
Trump's alter ego He's got. He has his alter ego,
(02:53):
like Butter's alter ego on South Park Captain Chaos. This
is Donald Trump is Captain Chaos. He doesn't have to be.
He doesn't have to be. But I don't know why
he feels the need to revert to this. We had
a very optimistic view of what was going to happen
(03:14):
as far as business was concerned, deregulation, taxes, moving forward.
Speaker 3 (03:20):
I don't understand.
Speaker 2 (03:23):
Why he needs to be doing what he's doing right
in the way that he's doing it, quite frankly. And
the funny thing is he's sending his little messenger boys
out there. He sends Lutnick out, he sends Navarro out,
he sends Bescent out, you know. And again they're trying
to hold back the tide of people being like what
the hell man, and they're not getting anything. And again,
(03:45):
you know, Trump will roll out in front of a camera,
you know, just again. This is It's given me PTSD
starting to remind me the COVID times got to get
in front of a camera every single day, and he's.
Speaker 3 (03:58):
Got to up. Nope, I'm not gonnagotiape. This is the
way it is. We're not backing down when it comes
to terrace. We've been ripped off here, there, and everywhere,
and then you throw.
Speaker 2 (04:08):
Other things on top of it. It's like he's beating
a dead horse. With some of the talk in regards
to Canada becoming the fifty first state and annexing Greenland
and we am military is going to go into the
Panama Canal. You do understand that most Americans it doesn't
(04:34):
sit well, doesn't sit well with them. You know, all right,
you made the quip about Trudeau and you called him governor.
Speaker 3 (04:41):
Fine, okay, you did it once. You're still doing this.
You're still doing this. I don't see the need and
what's the point so.
Speaker 2 (04:56):
You can get your you know, the the super trumpsters
on social media, you know, you make them horny because
you fire off a ridiculous quip like that. It's not necessary,
it's it's the shtick is I'm sorry, but that stick
is growing freaking old already. Grow up, man, grow up,
(05:17):
Stop with this nonsense. And Cannon's great, Cannon is going
to be in a fifty first eight.
Speaker 3 (05:22):
Stop it. I mean again, why why do you feel
the need to do that? I don't get it. You know,
I understand you.
Speaker 2 (05:34):
You can definitely cut a defense deal with Greenland without
all of this nonsense had taken place. Panama Canal, you
sent Rubio down, You kind of took care of that.
Speaker 3 (05:44):
All right, leave it.
Speaker 2 (05:49):
I don't feel the need to go I mean off
script here with this crap. You were, you were heading
in the right direction.
Speaker 3 (05:58):
And you drift it. You and again, listen, I get it.
Speaker 2 (06:04):
Okay, when you want to handle and bring tariffs down,
and you want trade to be freed up, and you
want to get everything, I get all of that. But
the focus shouldn't be on raising tariffs. It should be
on lowering tariffs. Now, now Trump comes out and he
(06:24):
talks about we've been getting ripped off here and we've
been getting ripped off there.
Speaker 3 (06:28):
We will we do the same shit, man. But why
do you think we pay like three times as much
as the rest of the world does for sugar? We do?
Speaker 2 (06:41):
But why do you think you know our sodas that
wet corn syrup, and so much of the sugar retreats
we have here in this country is because sugar is
so damn expensive. Why because of big sugar here in
the state of Florida, run by the fan Jewel brothers
have donated significant sums of money to bout Democrats and
Republicans in Brazil. In Brazil they have so much sugar. Okay,
(07:09):
they act their ethanol is not made with corn.
Speaker 3 (07:13):
It's me.
Speaker 2 (07:13):
You can actually drink drink their ethanol that they put
into cars. I kid you not. Why because again, we
have protect We protect certain businesses and industries as well.
What but the tariffs we put on trucks coming in
(07:36):
to this country massive, I'm not mishaken and protecting our
pickup industry here we do it too. The focus should
be on lowering TIFFs and lowering barriers, not raising them.
(07:56):
That's problematic. We want to continue to do business around
the globe. We want to continue to sell to people
around the globe. Let's be on Okay, great, we've got
a great market here. Three hundred and thirty million people
to help a lot more people in China, held a
lot more people in the European Union, hell of a
lot more people in India.
Speaker 3 (08:15):
That we want to sell to. And we need to
bring these things down.
Speaker 2 (08:18):
Now, let's look at Captain Chaos and what he's done
to his agenda. Listen, okay, I know a lot of
the maggot types, and he brought a lot of people
over to vote for him this time, a lot of
younger people, a lot of people out there, a lot
(08:39):
of younger people right now, you know, newer investors utilizing
some of the trading apps.
Speaker 3 (08:45):
Robinhood just got crushed and they just had again.
Speaker 2 (08:51):
They just had their faces, I mean, a major correction
within three weeks, just had their faces ripped off, and
they're like, wtf. You got to get them to vote
in the midterms right that. They're not happy. A lot
(09:13):
of people taking taking a look at their four one case. Okay,
this is all short term stuff. Okay, it's all short
term stuff. I'm not freaking out about the market and
the market reaction. Markets need to sell off. But you
did it, Okay, to make no bones about it.
Speaker 3 (09:32):
He did own it. Okay, take ownership. You can come out.
Speaker 2 (09:36):
Yeah, I tank the stock market and this is why,
and this is why it's going to turn around. And
they keep talking about short term disruptions. They're not going
to be able to get their agenda passed. They just
put forth this continuing resolution right all right, to continuing resolution.
I'm pushing it to September. What if you don't have
any political capital comes September, you gotta get nothing done.
Speaker 3 (10:00):
You are gonna get nothing done. That's like George W.
Speaker 2 (10:04):
Bush spending all of his political wins in the second term.
Speaker 3 (10:09):
When's the second term?
Speaker 2 (10:10):
Has this agenda gonna reform SOULI security and do these
various different things, actually do some good things.
Speaker 3 (10:15):
Did he get any of it done? No? Because he
was too busy dicking around in Iraq.
Speaker 2 (10:23):
Well, you're gonna spend time messing around with this tariffs
and this nonsense. You're you're not gonna be able to
get anything done. You're not gonna get your your tax
cuts through. You're gonna get pushed back from Congress. Yeah,
they're holding their fire right now, they're keeping their their
(10:44):
mouths shut.
Speaker 3 (10:46):
That's not gonna last. It's not gonna last. I get it.
Speaker 2 (10:51):
I get you want to you want to redo some
trade policies, all this stuff.
Speaker 3 (10:54):
Okay, let's figure out. Let's sit down at the table.
Speaker 2 (10:58):
Let's stop with this tit for tat and this crap,
this TV show, this Captain chaos crap that you're waging
on TV and in social media, where it turns out
it's like some sort of rappers battle where you're trying
to like insult someone more than the other person. Oh man,
you got this, Oh I got no. Be an adult,
sit down and negotiate. Don't negotiate on social media, on
(11:21):
truth social Stop with the quips, stop with the nonsense,
and give, for crying out loud, the people who voted
for you, some semblance of what's going to happen next,
because right now it's chaotic, it's plain and simple. Businesses
are like, I don't know what's going to happen next.
Speaker 3 (11:44):
I don't know what my costs are going to be.
Speaker 2 (11:46):
For crying out loud, man, you built buildings, how would
you like it?
Speaker 3 (11:52):
How would you like it? If you had no idea.
Speaker 2 (11:54):
What your building costs were going to be because of
tariffs by the president, you'd be freaking out out. So
he kind of honest, he's got to get his act
together at this point.
Speaker 3 (12:07):
This is this is my always been my fear with
this guy.
Speaker 2 (12:10):
And I gotta yeah, I can kind of like, you know,
watching the things that we're getting done, stuff done by
Elon Musk, the dose stuff, some of the things that
were done and they continue to do. When it comes
to immigration fantastic. But again, you're doing well. Show a
little humility, Okay, tone it the hell down, figure, get
(12:36):
get this trade crap behind you so we can move
on and actually get things done. This is a damn
This is a damn side show right now, and businesses
around the country are paying the price.
Speaker 3 (12:55):
Now.
Speaker 2 (12:55):
I'm sorry, super trumpsters. You can come out with your
butt but but but but but but all the butt.
Speaker 3 (13:01):
Monkeys out there, it's on him. Fix it. Fix it.
Speaker 2 (13:07):
If you got to eat a little crow because you
had a big mouth over the past couple of weeks,
do it.
Speaker 3 (13:13):
Watch dog on Wall Street dot Com.
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