I keep getting asked, "Why are we crashing again? I thought the tariffs were paused!?" Well, not exactly. The pause was merely adjusting the tariffs to a reduced 10% blanket tariff instead. Additionally, the tariffs on China—the only ones that actually matter—are still in full effect. Nothing about this plan changed, except for a slight drop in tariff rate for some countries. And let’s be clear: the idea of a tariff "pause" just means a delay for the raised rates. The plan is still in place, all countries are still being tariffed, just the higher ones will resume in due time. So nothing has really changed. Yesterday’s historic rally was just bait—one last trap to pull in more liquidity before we head lower. Let's not forget that while other countries cut deals or work around the tariffs, but China will escalate. The U.S. severely underestimates how far China is willing to go. They’ll hurt themselves just to hurt us—and that makes them far more dangerous than anyone wants to admit. We’re in a bear market—make no mistake about it—and the bulls are in for a brutal wake-up call. Most market participants have never lived through a real downturn, and they’re about to learn the hard way. Many will lose everything trying to catch a falling knife, buying on leverage, or blindly dollar-cost averaging while valuations are still completely detached from reality.