In 1946, Eisenhower said, "I hate war as only a soldier who has lived it can. Only as one who has seen its brutality, its futility, its stupidity." Possibly my hatred of war blinds me so that I cannot comprehend the arguments they aduce. But in my opinion, there's no such thing as a preventative war. Although the suggestions repeatedly made, none has yet explained how war prevents war.Worse than this, no one has been able to explain away the fact that war creates the conditions that beget war. And finally, ...

Actually, I don't think it's so much a surprise that it's happening is more like, why did it take so long. And I think a lot of it has to do with higher interest rates, exposing the severity of the imbalances. And from a financial perspective, what we're witnessing right now is an unwind of the capital misallocation going back to 2008 and arguably all the way back to the fall of the Berlin Wall in 1989.And, you know, driving those misallocation one was the the GFC. The United States had the biggest stimulus ...