By coinnews 
00:00 Speaker A
Yeah, you mentioned three things that could move markets in the coming weeks here in the short term: China, chips, and that 2026 budget.
00:09 Speaker A
Where do you see that netting out? You say it can move markets. Is it going to move markets in a way investors like?
00:16 Speaker B
I I think right now where at, I’m slightly cautious again. It’s I feel like everything’s getting so well priced in. And the one thing that I’m still concerned about and I don’t think the UK did anything to address this yesterday is, I am concerned about American brand sales globally, that we have done such a thing that, you know, US brands were aspirational. You know, this is probably a bit of a stretch, but you go back to the Soviet Union, Levi’s represented freedom. And I think to this day, right? People want to be associated with American brands. They like the affiliation, it’s aspirational, and I feel a lot of damage has been done to that by the actions we’ve taken against a bunch of these countries. You’ve seen, you know, tourism is way down, you’ve seen some other brands, I think Tesla most noticeably had foreign German sales were way down. Is that a trend? Is that a one-time pump? I don’t know. I’m a little bit suspicious that with 40% of S&P 500 earnings coming from foreign revenue sources, that that could be under some pressure, and that we’re going to see lackluster sales of US brands globally for, you know, the foreseeable future.
02:20 Speaker A
And how can you put that toothpaste back in the tube?
02:25 Speaker B
Right. And I think that’s a very different thing. So it’s one thing for the leaders to negotiate trade deals, but when people go to the store, are they still thinking like, “I want to own this brand because I like it,” or do I not want to own this brand because now I feel America has treated us unfairly? And I think that’s a risk that’s not being priced into S&P 500 earnings.