Japan Joins the Global Tightening Club
For nearly three decades, Japan occupied a unique place in global finance. While the rest of the world worried about inflation, Japan worried about deflation....
Category: Developped World
The Monster Beneath the Treasury Market
For years, investors believed the greatest danger facing the bond market was inflation. They were wrong. Inflation was only the trigger. The real danger was...
America’s Inflation Problem Is Becoming Structural Again
For nearly two years, markets repeated the same comforting narrative: inflation was temporary, growth was slowing, and the Federal Reserve would eventually be forced to...
America’s Iran War Is Becoming Trump’s Political Trap
For months, Donald Trump attempted to project absolute confidence over the Iran conflict. The war would be short. Iran would bend under pressure. Oil markets...
Tariffs, Forced Labour and the Slow Fragmentation of Globalisation
For decades, the United States sold globalisation as an economic religion. Free trade was presented as inevitable. Supply chains were optimised across continents. Manufacturing migrated...
Europe’s Inflation Mirage Is Breaking Apart
For nearly two years, Europe comforted itself with a reassuring narrative. Inflation, we were told, was under control. The energy shock belonged to the past....
Beijing’s Quiet Victory and America’s Shrinking Presidency
Donald Trump arrived in Beijing hoping to project strength. He leaves looking constrained, reactive and increasingly trapped by realities he no longer fully controls. Officially,...
America Rediscovers Inflation and the Consumer Starts Breaking
For nearly two years, Washington repeated the same comforting story. Inflation was under control. The Federal Reserve had won. The soft landing was intact. Growth...
The Tariff King Meets the Law
Donald Trump’s tariff empire has suffered another judicial humiliation. A federal trade court has ruled that his global 10% tariffs were illegal, cutting into one...