The Sovereign Ledger Liquidity Trap
Six years ago, the narrative was speculative. ING Economics tweeted that central bank digital currencies (CBDCs) were closer than ever.…
The Death of the Nest Egg
The math of accumulation is brokenBill Perkins knows it. The markets are starting to realize it. For decades, the financial…
The Risk Premium of Patience in a Wartime Economy
The rockets fired. The markets flinched. Then they bought the dip.Geopolitical shocks usually follow a predictable script. Panic selling precedes…
The High Cost of Geopolitical Panic
The Iran Discount and the Liquidity TrapPanic is a tax. It is levied on the impatient. The current escalation in…
Capital Hunger and the Mid Cap Squeeze
Capital Hunger and the Mid Cap Squeeze Wall Street loves a comeback story. Mid-cap growth funds are the latest protagonist.…
Washington Abandons the Gas Pump Narrative
The Silence of the West WingThe White House is mute. Their models failed. The political cost of being wrong on…
The institutional rebellion against Kevin Warsh
The ghost of the Volcker eraThe Eccles Building is quiet. The dissent is not. Kevin Warsh stepped into the Chairmanship…
Beijing Just Shattered the Singapore Sanctuary
The dream of a neutral AI hub is dead. Meta failed. Beijing won. The unwinding of Meta’s $4.2 billion acquisition…
The Fortress Cloud is the New Sovereign Border
The silicon is vulnerable. Steel matters again.The sky over Northern Virginia is no longer clear. Amazon Web Services (AWS) recently…
The Productivity Mirage and the Labor Market Shock
The Great Decoupling of Labor and OutputCapital is getting smarter. Labor is getting nervous. On May 1, Seth Carpenter, the…