A tale of two worlds

Supreme Court Tariff "Bomb"? Fears Of A $200 Billion Refund Shock Are Overdone Authored by Daniel Lacalle, The market consensus reaction to the Supreme Court ruling on the Liberation Day tariffs exaggerates the negatives and ignores the options of the Trump administration. Markets are overreacting to headlines about a $175–200 billion tariff refund financial hole. However, the Supreme Court ruling opens a long, narrow, and manageable process, not an imminent fiscal crisis. In the days after the Supreme Court struck down the Trump Liberation Day tariffs, many sell-side analysts turned a complex legal...

AI is not the killer—it is the coroner.

Iran Strikes Should End In Regime Change, Senate Majority Leader Says, Ahead Of War Powers Vote Senate Majority Leader John Thune has made the maximalist hawkish US case on Iran, saying that any authorized strikes should result in nothing less than regime change in Tehran. "In my view, if you’re going to do something there, you better well make it about getting new leadership and regime change," the leading Republican Senator said Thursday. "If you’re going to take some sort of action, I think you want to achieve a result that actually...