I wouldn't underestimate the team behind Trump. Trump himself may not be a macro economist, but the White House has access to some very capable advisers across Treasury, the NEC, and national security. Presidents don't make these decisions in isolation. Whether you agree with his policies or not, the sequencing over the past few months has been fairly disciplined—from tariffs, to the Iran operation, to managing energy prices, negotiations, and subsequent military responses. The timing of those moves has generally stayed within a controllable range. So I'm not convinced this is simply a case of "Trump doesn't know the difference between the front end and the back end." There may be a broader strategy behind it than the market is giving credit for.