Welcome to Animal Spirits, the podcast that takes a completely different look at markets and investing,

hosted by Michael Batnik and Ben Carlson, two guys who study the markets as a passion,

and invest for all the right reasons.

Michael Batnik and Ben Carlson work for Rit Holt's wealth management.

All opinions expressed by Michael and Ben or any podcast guests are solely their own opinions and do not reflect the opinion of

Ritt Holt's wealth management. This podcast is for informational purposes only and

should not be relied upon for investment decisions. Clients of Ritthold's

wealth management may maintain positions in the securities discussed in this podcast

Welcome to Animal Spirits with Michael and Ben. We're going to start off the show today talking about what has been in the headlines for a few months now and that is

tariffs and the trade wars that are going on. So we are not economists, we don't

pretend to be ones. We know what we read in the New York Times and the Washington Post and not much else so let's

with those caveats so let's just get at some of the stuff that's going on so the New York Times

wrote in a highly intertwined global car industry a trade war can play out in unexpected and

costly ways American automakers which export an estimated 2 million

vehicles increasingly relying global sales as a buffer in tough times and

to that point GM said that its supply chain spraws across 20,000 businesses

worldwide and is in an operation of great breadth, scope, and complexity.

So basically this whole thing is complicated. That's my takeaway. I haven't read too

any positive spins on the on the trade war, but I think that if people are trying to

put numbers on everything I think that's probably a little too soon

it's time to pump the brakes on that one because I don't think anyone really knows what's going to

happen here there was the one positive spin I've heard so Mohammed Al--A. Arian, formerly of PIMCO, was on CNBC yesterday.

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