The Last Week of the World Powell Built
The Last Week of the World Powell Built Friday, May 15. Circle it. Powell's out. Warsh is in. Eight years of one man's hand on the most powerful monetary lever in human…
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Trump lands in Beijing in forty-eight hours and the financial press is writing about optics
MEMO: Things Nobody Is Watching TO: Anyone paying attention FROM: — RE: Beijing, Wednesday. The clock nobody reset. DATE: 12 May 2026 Trump lands in Beijing in…
Two Screens
Two Screens Equities & Energy · Monday, 11 May 2026 · No Attribution Screen one: Micron up 124% year-to-date. SK Hynix at a record in Seoul this morning, +5% before lunch. The…
Notes Toward a Theory of Collective Insanity
Notes Toward a Theory of Collective Insanity Semiconductors · Geopolitics · Asset Bubbles · The Week That Broke Consensus Sunday, 10 May 2026 · Issue CCXLVIII · Private…
Everyone Is Getting Fired for a Robot That Doesn't Exist Yet
Everyone Is Getting Fired for a Robot That Doesn't Exist Yet Dispatch · Tech · Crypto · Labour Markets — Saturday, 9 May 2026 BTC: ~$80,200 · Gold: $4,730 · COIN: −2.5% on the…
A Note Left on the Chair's Desk
A Note Left on the Chair's Desk The institution that invented forward guidance is about to lose its voice. Here's what the building is thinking. May 8, 2026 · Monetary Policy…
Seoul Is Eating Your Lunch
Seoul Is Eating Your Lunch May 7, 2026 The KOSPI just did 75% year-to-date. Sit with that. Not a small-cap biotech. Not a leveraged crypto ETF. The entire South Korean…
The Cartel Is Cracking and Nobody Knows What Comes Next
The Cartel Is Cracking and Nobody Knows What Comes Next Brent is at $110 and change. WTI just crossed $103. The Strait of Hormuz — the skinny corridor through which roughly a…
DISPATCHES FROM THE OVERLAP
DISPATCHES FROM THE OVERLAP May 5, 2026 Somewhere in the gap between the Strait of Hormuz burning and Palantir posting its best quarter in company history, there is a thesis…
The Strait Is Still Closed. Nobody on the Equity Desk Seems to Care.
The Strait Is Still Closed. Nobody on the Equity Desk Seems to Care. There is a war going on. A real one, with naval seizures and gunfire on tankers and cities that source 99%…