China Preps For War: Spy Balloon Belies Much Larger Economic Warning Signs

Is Credit Whispering, Or Screaming? By Peter Tchir of Academy Securities Is Credit Whispering? Or Screaming? For the past couple of years, it has been relatively safe to assume credit is well behaved and relatively range bound. It is unclear if that remains the case. We may be in a situation where the AI spend, the AI displacement, and the Working Poor are forming a storm of some sort. How severe remains to be seen, but for the first time in a while it is a real concern for me. My inclination has been...

The current outburst of protests against President Trump’s enforcement of immigration laws is overshadowing a question that is not being asked: Can we defend having national borders in the first place?

"Our Military Is Prepared": Havana Communists See Writing On The Wall After Trump's Iran Bombing In a new note from Zoltan Pozsar's advisory firm, Ex Uno Plures, he explained that the Trump administration is "methodically building a portfolio of assets" to pressure China, centered on strategic energy supply nodes and maritime chokepoints that have historically supported Beijing's cheap crude imports. His note highlights the Panama Canal, Venezuelan oil flows, and the broader significance of Iran and the Strait of Hormuz. Taking it a step further, Cuba could eventually be folded...