Amid this week’s tariff turmoil, U.S. stocks tumbled, U.S. Treasurys sold off, and the U.S. dollar weakened. Kai explains what this triple sell-off could mean for the future of the American economy. And, is the era of cheap stuff in America over? Donald Trump administration officials are arguing it’s a good thing. We’ll get into it. Plus, we’ll weigh in on penguin memes and using public phones during a round of Half Full/Half Empty.

Here’s everything we talked about today:

"Treasury Secretary Bessent says the American dream is not about 'access to cheap goods'" from CNBC

"Cheap Consumer Goods Are the American Dream, Actually" from Bloomberg

"The Trump administration says cheap goods aren’t part of the American dream. They’re wrong." from Vox

"The bond market is acting weird. It spooked Trump" from CNN Business

"After Trump’s Tariffs, Stocks Plunged but Penguin Memes Ticked Up" from The New York Times

"More students opt for certificates as undergraduate degree earners decline" from Marketplace

"A Frenzy at Trader Joe’s: ‘Everyone’s Here for the Tote Bags’" from The New York Times

"The Masters offers public phones as alternatives to cellphones. Here's what attendees think" from Fast Company

Got a question for our hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

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