The biggest systemic risk to markets right now. Will it be the pin to pop the “everything bubble?” The yen carry trade has long been the financial world’s favorite magic trick: borrow yen at 0%, sell it for dollars, then plow the proceeds into whatever shiny thing is booming that month: U.S. tech stocks, crypto, […]
War, that most vain and venerated instrument of national pride, does not merely nudge the price of petrol upward, it rends asunder the delicate machinery of trade itself. Ships are halted, roads reduced to rubble, and the humble materials upon which industry depends are spirited away, so that fewer goods are fashioned while the public, […]
He helped the wretch rise to his feetWhen thrice had stumbled he;With a gentle pull on tattered rags,The bondsman made no plea. “Come now, poor soul; I’ll try to lead…”He whispered, almost cried—Yet cloudy orbs of muted thanksWas the wretch’s sole reply. I watched this scene from noisy crowd.The contrast was quite stark:Youth and age […]
