That Smashing Sound Is Piggy Banks Around the World
Dodgy Greek equations are no basis for a system of tariffs, and markets aren’t impressed.
Of all days… well, somebody had to be there.
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Points of Return will now try to cover everything that’s hit the world economy in the last 24 hours, but not succeed. Sorry about that. The Trump “Liberation Day” tariffs were a big deal, as was the market reaction Thursday, which saw the most brutal selloff since the Covid lockdowns started in March 2020. Here are some of the more important questions and some tentative answers.