DeepT and NG talk about the financial system implications of the Trump tariffs and whether for Australia these are inflationary or deflationary, and the likely response from the RBA. That leads into discussion of whether this can actually lead to more housing construction or rising house prices and the dynamics of that, while bringing in consideration of policy proposals by both mainstream sides of Australian politics to address housing shortages in the 2025 election, and the reticence of both sides to seriously consider reducing immigration.