Liquidity, Tariffs, and Risks Ahead: Where I'm Investing with Caution

June 2, 2025 - Update

We have new data on the U.S. M2 money supply, and the trend continues to move upward.

Here’s the broader picture:

Over the 12 months ending April 2025, M2 grew by about 2%. During the same period, real GDP grew 2.1%, and…