o O'Keefe.

Apparently the big victory that Trump got over the Houthis, getting them to say that they'll stop attacking shipping in the Red Sea, might be limited in its actual real world value because the shippers say, "Uh, we don't quite trust the Houthis." Now how many times have I told you that if you want to know what reality is, look at whatever the insurance companies are doing? And I said to myself as soon as I heard that the Houthis had claimed that they would stop attacking, I said to myself, but will the insurance companies believe it? Because if the insurance companies don't believe it, the ships are just not going to go there because they can't get insured. So I don't know if it's strictly because of insurance problems or if the shippers on their own are just saying, "Well maybe we'll wait and see on this a little bit." But there should be an advantage coming up at some point, but it won't be fast. However, it does make it look like Trump got a big victory before he does his Middle East trip, which is upcoming. So politically terrific. Practically, I don't know yet. We'll have to wait and see.

Here's the big good news, if I can call it that. Apparently the US and the UK are going to announce a trade deal today. Probably it's being announced right now. And the idea is that we've reached some kind of an agreement. Now I guess it wasn't the hardest of our trade deals because there wasn't that much in dispute. And I don't know the details of it yet, but if both sides are happy that probably means there's some advantage to the US. And that's probably why the stocks are up in part.

Just looking at one of your comments there. So you remember I told you that the most predictable thing is that the press is going to slam Trump on his whole tariff fiasco and the chaos. But as soon as the deals start coming in, oh here we go. Zero Hedge is reporting that the US is going to cut tariffs on UK-made cars to 10%. And the US-UK deal is to cut beef tariffs to close to zero. Beef tariffs in which direction? I guess our beef to them. But isn't the problem that they don't like our beef because it has hormones?

Well so the next thing I was going to tell you, I guess that comment got ahead of me a little bit, is that the most predictable thing that's going to happen is that the Democrat media is going to say, "Well we looked at the details of this agreement and obviously this agreement is not as good as Trump says and it's not going to help in the real world and things were going to go that direction anyway." And he's saying it's a big deal but it's really no big deal. So the first few are going to get poo-pooed by the liberal media, the anti-Trump media. You should expect that. But they can't do it to all of them. If they just keep happening, you know if India comes online pretty soon and maybe South Korea and Japan, there's going to be a point where it's unambiguously true that the whole tariff thing worked and then the media is going to have to figure out something else to talk about because they're going to be over a hundred of them. The news will be almost every day, well we got another one and it's good for America in three different ways. And this will all happen before the midterms. So Trump may have pulled off, it's way too early to say this, way too early, but you can see the glimmer of it. He may have pulled off the greatest political economic move of all time. Way too early to say that, but it's starting to signal in that direction because all the chaos stuff seems to be dissipating and now it's turning into, oh there must be serious people sitting around the table making serious deals that are actually good for America. And that's exactly what's happening.

So I don't think yet that the media has accepted the fact that Trump knows what he's doing and that creating all that ambiguity and what they call the chaos, what somebody else would call uncertainty, caused the entire world to want to make a deal really fast. There's nothing else that could have done that. There's no amount of begging, writing well-worded memos, nothing. There's nothing else that could have gotten all the major trading partners to get on an airplane and literally fly out here and say, "Can we do this right away? Could we make a better deal?" Only Trump could do that. And only the way he did it. Probably there wasn't a second way in all the world. There was probably not any other way that this could have been done. And it's starting, it's too early to say. Anything could go wrong, but it's starting to look like he pulled off one of the greatest moves I've ever seen. Way too early to know that for sure, but boy does it look like it. We'll see.

Meanwhile, Jerome Powell at the Fed is not looking to lower rates anytime soon, and he's claiming it's because of the uncertainty over the tariffs and that the tariffs might cause inflation, and he doesn't want to have inflation at the same time that he's lowering interest rates. I don't think he's making the right choice because it feels political. Now of course the Fed is supposed to be famously non-political, but I don't see how he could be because Trump has been on his ass so hard. I feel like I just don't trust him. I just don't trust that his reasoning is without political bias. And that's a problem. Now you could say that maybe Trump is the one that caused the political bias, but I'm not so sure because there's an anti-Trump sort of bias that's everywhere all the time anyway. So I wonder if Trump had never said a thing to criticize the Fed, would that make the Fed person more MAGA? I don't think so. Would it make the head of the Fed think I can't go and play company if I help Trump with my rate cuts? I feel like the social and political pressure on the head of the Fed would sort of cause them to want to be anti-Trump even if they weren't naturally anti-Trump, you know for their own lifestyle. But I would argue that all Trump needs is for those rate cuts to happen before the midterms. And there's plenty of time for that. And I think that they will because if the tarif