The US stock market is booming on the strength of AI. Companies are making big profits while shedding jobs. IMO the real barometer is the bond market, where yields are close to record levels on long-term bonds. It now takes more than $1 trillion pa to service America's debt. The war with Iran has given Americans price rises of 25% for gasoline, 40% for diesel, and 70% for aviation fuel. Those increases cascade into the cost of everything -farming, delivery services, manufacturing. Likewise, the trade war with Canada is forecast to cost the states bordering that country 340,000 jobs. Every American knows who is responsible. The question is, can they do anything about it?
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