Persistent Delusion Among the American and NATO Defense Establishment

Hillary Clinton Breaks With Party Line, Admits Mass Migration Is "Disruptive & Destabilizing" After U.S. Secretary of State Marco Rubio spoke earlier on Saturday at the Munich Security Conference, where he said the U.S. and Europe "belong together" and argued for a stronger West, former Secretary of State Hillary Clinton, who served under former President Barack Obama, appeared on a panel later that afternoon and made surprising remarks about mass migration. Clinton participated in a panel titled, "The West-West Divide: What Remains of Common Values," and said that mass migration...

Key Events This Week: PPI, Iran Talks, Nvidia Earnings, Fed Speakers Galore And State Of The Union While much digital ink has been spilled on the Supreme Court's striking down of Trump's IEEPA tariffs and the consequences of this decision (see "Full Analysis Of The Supreme Court IEEPA Decision: How It Impacts The Economy, Policy And Markets"), a lot more is on deck for this week when we will also have more geopolitical headlines to contend with, as the latest round of US-Iran talks is expected in Geneva on Thursday....

Yen Tumbles After Japan's PM Voices Concerns About Further Rate Hikes To BOJ The yen was already sliding on Monday after Nikkei Asia reported that the sharp swing we saw in USDJPY in January was initiated by FX intervention from US Treasury Secretary Bessent not Tokyo, even if Washington, D.C. is open to coordinated forex moves if requested by Japan. FX traders took this as evidence that, contrary to previous conventional wisdom, Japanese authorities were prepared to allow the USDJPY to continue climbing on Jan. 23 and it was only...