Well, howdy there, internet people, it's Bell again. So today, we're going to talk about Trump

and what bonds are telling him. Republicans held a closed-door meeting a few days ago. The topic of

discussion was what the bond market was doing and how it might tank Trump's tax cut agenda.

Extending Trump's tax cuts will cut government revenue by an estimated $4 trillion or so over the next 10 years. Currently, U.S. debt sits

at $36 trillion and is growing by $2 trillion per year. Last week, U.S. Treasury yields on 10-year bonds hit a high of 4.79%.

What does that mean?

Republican Representative Ralph Norman of South Carolina

summed it up pretty well when he said, quote,

the buyers of our bonds are getting nervous that we're at the point

that we cannot pay it back. That affects every one of us. Republican representative Andy Barr of

Kentucky provided a pretty accurate summary as well, saying, quote, the bond market is telling Congress that if we don't get our fiscal

house in order, everybody's mortgage rates, everybody's credit card rates, everybody's auto loan rates

are going to continue to go up. So, what does this mean politically? The bond markets are sending a message.

If Republicans enact inflationary policies, which a lot of Trump's stated positions are,

bond vigilantes will probably emerge.

You might want to get familiar with that term.

Bond vigilantes are people who get worried about inflationary policies or debt risk,

and they want higher yields.

They sell their bonds, which sends yields up.

When yields go up, the cost of borrowing goes up.

That slows the economy. Everybody talks about the stock market,

but the stock market is mostly reactive. The bond market has the crystal ball. If they're

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