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Black Coffee: Currency Wars & Other Battles
Len Penzo Dot Com· 2026-03-07 09:00
Group 1 - The Federal Reserve has consistently struggled to maintain the purchasing power of the dollar since its establishment in 1913, indicating a failure in its primary mandate [2] - Burger King is updating its Whopper hamburger, maintaining the quarter-pound patty but introducing better tasting mayo and a higher-quality bun, which will cost franchise owners approximately $4,000 annually [3] - Despite US tariffs, global trade increased by 4.4% in 2025, surpassing the 2.5% growth of 2024, suggesting resilience in cross-border commerce [6] Group 2 - Major US stock market indices experienced declines due to war jitters, with the Nasdaq down 1.2%, S&P 500 down 2.0%, and Dow down 3.0%, while the previously strong Magnificent 7 stocks have collectively dropped 6.7% since the start of the year [9] - The US national debt reached $39 trillion, complicating the Federal Reserve's efforts to protect the dollar, with interest payments on the debt becoming the largest federal expenditure [11][18] - The US national debt was reported at $38.5 trillion at the end of Q4 2025, with a debt-to-GDP ratio of 122% and a deficit of 5.8% of GDP, marking significant fiscal challenges [18][22]