Whistling Past the Graveyard
Mark Thornton follows up on last week’s episode by arguing that the Trump administration, Chairman Warsh, and Secretary Bessent are using short-term maneuvers to hide long-term economic and geopolitical problems. He focuses on Bessent’s “Operation Economic Outcast,” the failure to isolate Iran, weakening foreign demand for US bonds, the breakdown of the petrodollar order, and the growing risks created by war, sanctions, and fiscal denial.
On Side B, Thornton joins Mario Innecco to discuss the bond market, inflation, war, the AI bubble, and why productivity gains cannot cure monetary…
The skinny
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