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Hormuz Hostilities, Carney's Goals, and Canada’s Lost Decade
Machiavelli, often considered the father of modern political philosophy, focused heavily on what he called the “effectual truth”—the reality of what actually works, rather than what we wish would happen in an ideal world. He believed that maintaining prosperity requires a clear-eyed understanding of power and a ruthless grasp of human nature.
Right now, global markets, international security, and our own domestic economy are forcing us to take off the rose-colored glasses. Here is the effectual truth of what is driving the macro landscape this week.
1. The Geopolitical Contest of Economic…
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