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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 2h

Steve Jobs explains why most people never succeed in life

Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 14h

BREAKING: Fed Chair Jerome Powell announced:

- Economic growth before the government shutdown is better than expected

- Fed could end QT soon

- Labor market weakness justifies the September rate cut

- Fed remains on track for more rate cuts as labor market risks outweigh tariff-driven inflation

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 17h

2) China can devalue the yuan by 10% and erase any tariff impact. They’ve done this before, and can do it again.

3) Geopolitics creates opportunity for patient investors. Market dips are buying opportunities for the long term.

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 17h

JUST IN: China says it will fight to the end" if the U.S. wants a trade war.

"If you wish to negotiate, our door remains open."

What this means:

1) The world is entering an era of economic blocs. The U.S. and its allies form one side, China and its partners another.

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 1d

Jeff Bezos, the World’s 4th richest man, explains why bubbles are good.

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 1d

Trump’s using the economy for insider trading. Here’s the playbook:

1) Announce tariffs, fear hits and the market drops
2) Call it off and the market bounces back

If tariffs get pulled back this will be his 3rd time crashing markets and not implementing promised tariffs.

Classic pump and dump.

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 1d

Hiring is at the lowest level since 2009, when the U.S. economy was still in the middle of the financial crisis, per CNBC.

This is what an AI-era adjustment looks like.

Businesses are now rethinking how many jobs are really needed now that AI is cheaper than hiring actual people.

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 1d

JUST IN: Florida, Illinois, Pennsylvania, Ohio, and Kansas are the first five states planning to try banning property taxes, per Realtor․com

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 1d

This is the definition of broken:

“Prices have not come down. The job market is difficult. Wages have not gone up. Health insurance is up. Car insurance is up. Home insurance is up. Rent is up. Young people have no hope of buying a home. And when they try to buy a home they compete with Blackrock.”

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 2d

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The Finance Newsletter | Andrew Lokenauth | Substack

Trusted by 100,000+ for financial education and analysis on investing, the economy, and financial news. Weekly investment research, market insights, and deep dives from a professional who worked in fi...

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 2d

2) Your salary if you work remotely for a foreign company.

Getting paid in euros while living in the U.S.? You just got a 10% raise.

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 2d

Take advantage of the upside. A weak dollar helps:

1) U.S. exporters.

Companies that sell products overseas make more money. Look for stocks like Boeing, Caterpillar, and agricultural companies.

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 2d

Understand what gets more expensive. A weaker dollar means:

1) International travel costs more. That Europe trip you’ve been planning? Book it now or pay 20% more next year.

2) Imported goods cost more. Electronics, cars, coffee, chocolate — most consumer goods have imported components.

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 2d

2) Invest in hard assets.

Gold, real estate, Bitcoin — are things that hold value regardless of what paper currency does.

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 2d

Stop keeping all your wealth in dollars. Diversify your exposure.

1) Buy international stocks.

When you own shares of a European or Asian company, you’re indirectly holding foreign currency.

Add international stocks to your portfolio. ETFs like VXUS (global stocks) make it easy.

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 2d

The worst-case scenario?

The dollar keeps falling 10% year after year. Your $100,000 savings becomes worth $70,000 in real purchasing power within three years. Foreign investors dump U.S. assets. Interest rates spike to attract them back. Recession follows

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 2d

The best-case scenario?

The Fed gets inflation under control, trade deals stabilize things, and the dollar only loses another 5-7% instead of 10%. Your purchasing power shrinks, but not catastrophically.

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 2d

The U.S. dollar just had its worst first half of a year since 1973, losing 11% of its value.

Morgan Stanley says it could drop another 10% by the end of 2026.

Why?

Slower U.S. growth, falling interest rates, and foreign investors dumping dollar assets.

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 2d

The US dollar is predicted to depreciate another 10% next year, after already depreciating 11% in the first half of 2025.

But what does it mean for you?

Here’s what you should know:

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 2d

Every bubble ends with someone saying “this time is different.” It never is.

Record-high credit card debt. An auto loan bubble. A commercial real estate bubble. All floating on record debt. All happening at the same time.

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 2d

JUST IN: President Trump says: "Don't worry about China, it will all be fine.

China’s President Xi doesn't want a depression for his country, and neither do I."

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 2d

1) The real power in trade isn’t in tariffs but in technology. Whoever leads in AI, chips, and energy sets the rules for the next century.

2) Manufacturing is moving from China to countries like India and Vietnam.

3) The US still holds the upper hand in currency, tech, and global finance.

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 2d

China says: It will stand firm against US tariffs. We do not want a tariff war but we are not afraid of one.

China blames President Trump & the US for escalating trade war.

What this means:

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 2d

So let’s just get this crystal clear.

President Trump says: Don't worry about China, it will all be fine. Xi Jinping doesn't want a depression for his country, and neither do I.

Vice President JD Vance says: President Trump is willing to be a reasonable negotiator with China on tariffs.

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Andrew Lokenauth | TheFinanceNewsletter.com @www.thefinancenewsletter.com · 3d

The AI bubble is now 17 times the size of the dot-com bubble and four times bigger than the 2008 global real-estate bubble, per MarketWatch.

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