Yves here. The Trump tariff blowtorch is now whacking the Treasury market. Even before this massive own goal, Trump was complaining about the Fed having interest rates that in his…
Yves here. We’ve pointed out that it would take at least ten years to meaningfully reverse US offshoring of manufacturing, and that pre-supposes a lot of industrial policy, something to…
Modern warfare has become a deadly game of hide and seek. In recent decades, precision-guided weapons and advanced reconnaissance technologies have created a new rule on the battlefield: if you…
A big hit to portfolios would be felt acutely by higher-income Americans, whose spending has recently been the biggest driver of the economy.
Shares in the US stemmed their losses on Monday, as investors clung to hopes that US President Donald Trump would turn from tariffs to trade deals. The S&P 500, which…
Yves here. It’s striking to see non-US commentators depict Trump as fulfilling voter wishes, when he’s largely engaged in a massive bait and switch. Trump did not start talking about…
Yves here. As much as relieving patients of medical debt seems like a noble goal, critics have a point that buying debt to retire it has the effect of keeping…
Highlights of the Starmer Government in Action Trump Hits the UK With a Censorship Tax Keir Starmer’s keenly honed political skills seem to have let him down again. This time…
It is perverse but predictable that the media is fixated on the drama of a global equity and risk assets rout, and is less attentive to the likely depth of…
Last week Israel bombed key targets in Syria as part of a “warning” to Türkiye not to take control of the Tiyas Air Base in Syria’s central governorate of Homs,…