They say time flies when you’re having fun.  Apparently, it also flies while you’re watching prices climb at the pump.  I find it hard to believe that we’re already six months into the war with Iran.  When I first wrote about the conflict in early March, oil markets were headed higher and the world was […]

Global markets connect in fascinating ways! Let us explore how currency confidence connects precious metals, commodities, and Federal Reserve policy. In the last few months markets have been characterized by narrow themes and sharp reversals. Precious metals surged late last year, then weakened. Commodities and metals declined together. Oil moved with the U.S.-Iran conflict, then […]

Consumer sentiment has collapsed.  The University of Michigan’s survey of how consumers are feeling about their world now stands at an all-time low, well below the despair of the financial crisis.  For most people reading this article, today’s economic conditions are nowhere near as bad as they were during the financial crisis, so what gives? […]

The war in Iran and the closure of the Strait of Hormuz are creating significant issues for the global economy. In this video, Adam and Rayna discuss the flow of critical materials currently being disrupted, discuss the economic implications of shortages, and map out potential scenarios as we move forward. They also discuss whether the […]

Throughout history, economic growth has closely followed energy availability and consumption.  When energy flows freely and affordably, economies expand.  When energy is constrained, growth slows.  Put simply, economic growth is energy transformed.  As the graphic below shows, there are no high-income, low-energy consuming countries. Why the Strait of Hormuz Matters The conflict with Iran is […]

In this conversational video, Adam and Rayna dive into the big stories across markets and try to discern if the long-standing trends are shifting.