The tax code we have lived under for the past decade was written as the Tax Cuts and Jobs Act of 2017, which created the existing tax brackets, expanded the standard deduction, provided exemptions to the Alternative Minimum Tax and generous gift and estate tax exemption amounts, a $10,000 limit on state and local tax itemized deductions and created the Section 199A deduction for up to 20% of qualified business income for pass-through business owners.

Long-term market watchers no doubt find it fascinating how the investment markets are engaging in a surprisingly frank dialogue with the White House over the tariffs. Whenever the news involves a hardening stance on tariffs, the markets drop. Whenever there is a pullback or pause, the markets rally.

For as long as trade has existed, there have been duties, fees, levies, tariffs, or taxes that have been applied in all shapes and sizes on goods entering a country. Some folks continue to promote the idea that free trade exists, but it has never truly existed.

After two years of stellar returns, the U.S. investment markets have decided to give back some of their recent gains. We are not in bear market territory quite yet, but the risk of a recession, a slowdown in consumer spending and the uncertainty over trade wars and tariffs, has created some market jitters that are raining on the bull market parade.

The most eye-catching news making the rounds currently is the initial public offering of the Newsmax channel, which took place when the bell rang on Monday. The stock rose an astonishing 735% on the first day of public trading, and then rose another 60% on the second day. The investment bankers were asking for $14 a share in the initial offering, but by the end of the second day, some investors were paying more than $200.

It’s fair to say that the Trump Administration’s tariff announcements have not had the desired effect — at least, not immediately. The S&P 500 fell 2.7% on Monday after dropping more than 5% the previous week. Investors are clearly rattled about the uncertainty of waging escalating trade wars on America’s biggest trading partners, and there are additional concerns that the trade barriers being erected in retaliation could lead to a recession.

You can forgive people with student loan debt from feeling confused and somewhat frustrated. The Department of Education has shut down a key portal, without explanation, that defines the repayment amounts for millions of college-related loans.

The price of eggs is in the news today—and no wonder. A dozen white Grade A chicken eggs—not the more expensive kind laid by free-range-chickens—reached a shell-shocking price of just under $5.00.

With the unprecedented restructuring wave going on across the federal government, unorthodox (to put it mildly) personnel management, appointment of candidates with little or no background in the departments they’re running and a wave of tariffs the like of which the world hasn’t seen since the 1930s, it’s easy to imagine that something might go wrong with the U.S. economy in the fairly near future.