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The Compound Podcasts:

On today’s show, we discuss:

• Weekend Reading – How Did We Get Here?

• Why Tariffs are Bad for the Economy (And You)

• Tariff Q&A: Welcome to the Actual Inbox

• Musk made direct appeals to Trump to reverse sweeping new tariffs

• How to Think About the Tariffs

• Free Trade Didn’t Kill the Middle Class

• The First Victim of Trump’s Trade War: Michigan’s Economy

• Americans Are Sitting on a Cash Pile as Stocks Reel

• Everything You Need to Know About the 2025 Future Proof Leaders Retreat

Charts:

Tweets:

28% of the customers in @flexport‘s call down yesterday said they’re pausing all ocean freight bookings from Asia until there’s more clarity on where tariffs will end up.

— Ryan Petersen (@typesfast)
10:17 PM • Apr 5, 2025

The NFIB Small Business Optimism Index fell 3.3 points to 97.4 in March 2025, its lowest level since October 2024, largest decline since June 2022.

Uncertainty Index fell to 96, down eight points from February’s second-highest reading on record.

down 3 months in a row

— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi)
12:24 PM • Apr 8, 2025

This is the 11th worst 3-day performance of all time. 10th and 12th place were both during The Great Depression (via @M_McDonough)

— Joe Weisenthal (@TheStalwart)
1:51 PM • Apr 7, 2025

We just finished the 10th worst week for the S&P 500 index (Friday close to Friday close) since 1940: –9.1%

— ⑆Luke Stein⑈ (@lukestein)
8:29 PM • Apr 4, 2025

Walter Bloomberg

— Trung Phan (@TrungTPhan)
10:04 PM • Apr 7, 2025

Shot. Chaser.

— ChatPGC (Pierce) 🇺🇸🦅 (@crosbyventures)
5:21 PM • Apr 7, 2025

This is the picture.

— MartyParty (@martypartymusic)
5:03 PM • Apr 4, 2025

Recommendations:

• Field of Dreams

• 1923

• The White Lotus

• Heat

• The Pitt

• The Studio 

Contact us at animalspirits@thecompoundnews.com with any feedback, recommendations, or questions.

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