MacroVoices #478 Luke Gromen: Trump Tariff Policy Will Drive Gold Even Higher

Macro Voices

Hedge Fund Manager Erik Townsend

Business, Investing, Business:investing

4.8 • 3.4K Ratings

🗓️ 1 May 2025

⏱️ 73 minutes

🔗️ Recording | iTunes | RSS

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Summary

MacroVoices Erik Townsend & Patrick Ceresna welcome, Luke Gromen. They’ll discuss the market’s Trump Tariff Tantrum, as Luke makes the bold case that President Trump could realistically raise enough tariff revenue to exempt the bottom 90% from federal income tax. https://bit.ly/3EOiD7t 🔻Download Big Picture Trading Chartbook 📈📉: https://bit.ly/4iEGX9K ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://bit.ly/4d1fcag 🔴 Subscribe to Patrick’s Youtube Channel: https://www.youtube.com/@Patrick_Ceresna 🔴 Subscribe to Erik's Substack: https://eriktownsend.substack.com/ 🔴 Check out Energy Transition Crisis on YouTube: https://www.youtube.com/@EnergyTransitionCrisis1 Please visit our website https://www.macrovoices.com to register your free account to gain access to supporting materials

Transcript

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0:00.0	This is Macro Voices, the free weekly financial podcast targeting professional finance, high net worth individuals, family offices, and other sophisticated investors.
0:18.9	Macrovoices is all about the brightest minds in the world of finance
0:22.6	and macroeconomics telling it like it is, bullish or bearish, no holds barred. Now, here are your
0:29.2	hosts, Eric Townsend and Patrick Suresna. Macrovoices episode 478 was produced on May 1st, 2025.
0:40.1	I'm Eric Townsend.
0:41.7	Forest for the Trees founder, Luke Groman returns as this week's feature interview guest.
0:45.5	We'll discuss the market's Trump tariff tantrum, and Luke will make the bold call that
0:51.0	President Trump has a realistic chance of successfully raising enough
0:56.2	tariff revenue to be able to excuse the bottom 90% from paying federal income tax.
1:03.4	Needless to say, President Trump's popularity would be increased if he actually eliminated taxes
1:08.8	for most taxpayers.
1:09.8	And I'm Patrick Sresne with the
1:11.6	macro scoreboard week over week as of the close of Wednesday, April 30th, 2025. The S&P 500 index
1:18.9	up 361 basis points, trading at 5569. The market continues to crawl higher as it attempts to break
1:26.7	above the 50-day moving average
1:28.3	for the first time since February.
1:30.1	We'll take a closer look at that chart and the key technical levels to watch in the postgame
1:35.2	segment.
1:36.1	The US dollar index down 15 basis points, trading at 9963, bouncing from an oversawl
1:43.3	condition with retracement targets toward 101 to 102.
1:48.0	The June WTI crude oil contract down 652 basis points, trading at 5821, a material breakdown in oil
1:57.3	towards April lows as recession risks rise.
	...

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