Dan Ebinger retweeted
The Catastrophic Corruption of the Trump Tariffs
Imagine the government adds $100 to the price of something you buy in the name of creating more jobs in America.
You pay the extra $100.
Later, the Supreme Court rules that the government never had the authority to impose the charge. No jobs were created and everyone is $100 poorer.
You would assume at the very least that you get your $100 back.
You don’t.
The company that collected the $100 gets to keep it and they can even take some of their ill-gotten profits and donate it to the government to support more policies exactly like this .
Making matters more despicable, imagine that while the legality of that $100 charge is still being fought in court, the family firm of a US cabinet official out promoting the policy he knows is illegal -- at the same time begins exploring whether he can buy the rights to those future refunds when it is in fact fpound to bve illegal.
That’s what happened with Donald Trump’s tariffs.
In April 2025, Trump announced sweeping tariffs designed to protect American workers and rebuild American manufacturing.
One of their most aggressive advocates was Commerce Secretary Howard Lutnick.
Before joining the administration, Lutnick spent nearly thirty years running Cantor Fitzgerald, the Wall Street firm that made him a billionaire. When he entered government, leadership passed to his sons.
While Lutnick was publicly advocating Trump’s tariffs, Cantor was reportedly exploring buying the rights to potential tariff refunds from companies collecting them from you.
The tariffs were already facing serious legal challenges. Everyone involved knew there was a possibility that the courts could rule that the President lacked the authority to impose them.
A cabinet secretary was helping promote a massive illegal government policy while the financial firm he had spent his career building, now run by his sons, explored how to profit when that same policy was subsequently declared unlawful.
Cantor and Lutnick say it did not execute these trades, and reporting about whether transactions occurred has conflicted.
Here is the circularity.
The tariff was sold politically as protection for the American worker.
The tariff cost was paid by you, the American consumers.
And when the government was ordered to return the money, legal refund went to the company that took your money not you who paid it.
Meanwhile, the Cabinet Secretary the most aggressive promoter of the illegal tariffs was exploring creating contracts to turn those refunds of YOUR MONEY into huge personal profits.
And last but not least the companies that kept the refunds are then able to fund the Trump government via crypto purchase of TrumpCoin, subscriptions to advance previews of Trump policy announcements and donations to the polical party and its pet projects, like the ballroom.
So follow the money.
The worker supplied the justification. The consumer he cost. The corporation held the refund claim. The corporations may have sold that claim to the Trump Cabinet member who most aggressively pushed the tariffs and your money flows back to the people making these policies. Meanwhile manufacturing jobs stay in Mexico and China..
The is one of the most outrageous scams I have ever witnessed.
That people so close to the creation and promotion of government policy were anywhere near the opportunity to profit from the known possibility that the policy itself would be overturned.
And remember why the tariffs were politically possible in the first place.
For decades, American workers watched corporations benefit enormously from globalization while factories disappeared and manufacturing communities deteriorated. Trump promised those people that government was finally going to protect them.
Instead, they found themselves at the losing end of another financial transaction sold as a way to help them.
The worker was promised protection.
The consumer paid.
The corporation got the refund.
And people close to the government tried to profit from it.
That is the catastrophic corruption of the Trump tariffs.
Dan Ebinger retweeted
Democrats need to make it extremely clear to Wall Street that any corporation or person that pays Trump for this information and then trades on it will be federally prosecuted under the next Democrat administration.
Dan Ebinger retweeted
It’s important that you understand what happened last night.
Last night, Stephen Colbert interviewed Democratic Texas Senate candidate James Talarico, a candidate who, by all accounts, is on track in the polls to flip Texas blue.
In response, Trump’s FCC reportedly threatened CBS if the interview aired.
CBS caved and pulled the segment, citing “financial reasons.”
In modern American history, no president has been more hostile to free speech than Donald Trump.
But censorship always backfires.
Here’s the full segment Trump didn’t want you to see.
Dan Ebinger retweeted
My seasonal reminder regarding Treasury-based ETFs and money market funds
Not a tax expert, but I noticed that if you own a Treasury ETF like $BIL in your taxable, the 1099 reports it as ordinary dividends, so I presume it's on the tax preparer to make the adjustment in the software after reading the breakdown of the ordinary dividends number.
Dan Ebinger retweeted
Today, members of the Anne Arundel County Police Department stood with our brothers and sisters of the Baltimore County Police Department as Detective Paul Hoke was laid to rest. Detective Hoke died on January 2, 2026, after experiencing a medical emergency while on duty. We offer our heartfelt condolences to Detective Hoke's family and the men and women of the Baltimore County Police Department on the loss of this fallen hero.
Dan Ebinger retweeted
I’ll have you all know that @bennpeifert and I are in the trenches doing work for the good guys.
Dan Ebinger retweeted
Donald Trump has committed the most profound, harmful and unnecessary economic error in the modern era. Almost everything he said—on history, economics and the technicalities of trade—was utterly deluded econ.st/4j8e0DG
Dan Ebinger retweeted
my day is absolutely ruined. I just found out “Kentucky Girl” is no longer going to be rooting for the Philadelphia Eagles 💔
The Philadelphia Eagles have rejected Trump’s invitation to the White House. You know what, I will never support that team again. Fuck the Eagles.
Readers added context they thought people might want to know
There are multiple reports the eagles haven’t rejected the invite, and that an invite hasn’t been given to them. There are also some reports they intend to go if invited
nbcsports.com/nfl/profootbal…
axios.com/local/philadel…
dailymail.co.uk/sport/nfl/arti…
Dan Ebinger retweeted
Slavery was legal.
Segregation was legal.
Never use legality as a guide to morality.
Dan Ebinger retweeted
I recently read about man who collects pictures of hitters who had hit walk-off home runs. He said that the reason he did this is because this is how he views us entering heaven.
Look at the faces of his teammates waiting to welcome him home. Look at their excitement. They can’t wait to celebrate with him.
Look at the fans. Arms raised, big smiles, maybe even hugs for a perfect stranger.
Perhaps this is your first holiday season without someone important who is now waiting for you in heaven. Maybe it’s just another one with that big hole in your heart and an empty seat at the table. Either way, I hope you can find encouragement in this picture, what it represented to the man who collected it, and find joy this year. #heaven #hope #joy #grief
Dan Ebinger retweeted
Honestly if any of you are new to investing/markets, this might be the most important advice you receive: don’t fucking use options.
And for the sake of all that is holy, if you must use options, do not “sell options for income”. It’s stupid.
My $365,000 investment in SMCI made me a little more than $3m. Meanwhile, the friend I discussed in the quoted tweet now has a lifetime pnl on SMCI that is, somehow, negative.
We had the same thesis. We agreed on everything. We were both very early.
If he’d just bought shares when we first discussed it (January 13th 23) AND COMPLETELY FORGOTTEN TO SELL ANYTHING…he’d be up 335%.
Huge drawdown, potential delisting, accounting fraud…whatever. He could have parked money in there, literally forgotten he owned it, come back this morning and sold and had a quadruple plus some despite all of it.
Instead, he’s lost money, time and probably hair.
I’m not speaking harshly of him, he agrees this was what he should have done. We all make mistakes and he’ll learn from this one. But maybe, if you’re in that situation, you can too…
If you’re someone who is making an effort to manage your own money and trying to compound it effectively for retirement, never touch options. Just don’t, whatever justification you have is wrong.
You want to hedge? Cool, sell stock.
You want convexity to a ripping trend? Buy higher beta stocks.
You want income? Buy bonds.
Selling options for income as a retail trader is the stupidest thing imaginable. It’s like working a job but every day you roll a d100 to find out if your boss murders you.
If your goal is to invest your own money and aim to compound it slightly better than the market for retirement then *take this advice*.
I have a friend who I speak with regularly, he tends to agree w me on my single name theses. The only difference is when I like a stock, I buy it. His go to is selling puts.
“I’m okay with owning it there so I’ll sell the put”
Been shorting puts on SMCI since December 22 when I first pointed it out to him.
My question: didn’t he just take all the same risk that I did for a fraction of the reward?
I can see how this strategy might be a good one to do on equity index ETFs or something, but the entire purpose of single names is that fat right tail of the “multi bagger” / compounder. I don’t know maybe one of you can explain it to me but it seems kind of silly to me. The man could have just bought the stock and saved himself so much brain damage.
Dan Ebinger retweeted
Absolutely dying at those two now getting assigned the “privilege” of “working” with MTG. That is actually hilarious. Enjoy, fellas! Very prestigious post you have there 💀
Dan Ebinger retweeted
This woman's name is Rebekah Massie.
She was arrested by Mayor @SkipHall2 for talking about how much certain city officials are being paid.
Rebekah is a Member of @YATPOfficial.
Hey Skip, you'll be hearing from us soon.
xitter.cf/Bubblebathgirl/status/…
Dan Ebinger retweeted
Replying to @saifedean
This is pretty much my story. I quit financial advising. I didn’t want it on my conscience that I was recommending things solely for [insert company name] could make more money. I’m a business consultant now and my goal is to help small businesses succeed. Part of that is 🍊 💊.
FLL @Enterprise is like that Seinfeld episode… they can take the reservation but can’t hold the reservation… 🫠🫠
Dan Ebinger retweeted
If there is anyone impacted who might need a new role, I’d be happy to share my network to help you out.
Drop a note here, through DM, or on LI.
With the swiftness of a lightning strike, Charles Schwab Corp. fires as many as 2,000 employees with no public announcement, affecting legacy Schwab, as well as TD Ameritrade staffers riabiz.com/a/2023/10/30/with…


























