America is now unwinding up to $166 billion in tariffs that were imposed under an emergency theory the Supreme Court rejected. The closest parallel is not modern Washington, but Charles I’s ship money campaign—a warning about what happens when rulers start taxing first and asking permission later.
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At first, the warning does not sound dramatic. The Federal Reserve is talking about one transitory shock after another. The IMF is talking about high debt, rising risks, and elevated…
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America is short 10 million homes while foreclosure filings are climbing again. Cahokia’s rise and decline show what happens when a civilization pours its energy into visible central power while household-level shelter security grows thinner.
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At first, it feels like a bad month. The Federal Reserve now says America is dealing with one transitory shock after another. Gasoline prices have risen by more than one-third…
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The IMF says global growth is slowing, fiscal space is thinner than before, and institutional credibility is eroding. The Ottoman debt crisis shows what happens when a powerful system keeps the symbols of strength after its real room for error is gone.
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The Hook: A Shortage Can Begin Long Before Shelves Look Empty Three days ago, the UN warned that disruptions around the Strait of Hormuz are threatening the fuel and fertilizer…
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The IMF just cut global growth to 3.1%. Benin’s fall shows how a wealthy trade power can remain impressive on the surface even after internal fracture makes outside pressure fatal.
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The most powerful financial weapon in American history is quietly bleeding out. For fifty years, the U.S. dollar has been the undisputed king of global trade. It was the currency…
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The most powerful financial weapon in American history is quietly bleeding out. For fifty years, the U.S. dollar has been the undisputed king of global trade. It was the currency…
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The American political machine is tearing itself apart at the exact moment the country can least afford it. This week, the federal government sued three states over regulatory control, while…
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