Greetings and welcome to this week’s midair performance of the Carnival of Fools! Like a prestige subscription-service drama, our story resumes from a potent cliff-hanger: Last week, Donald Trump had invoked the laws of cartoon physics as he strapped an ACME-brand tariff regime onto America’s economy and sent it hurtling off a cliff. Bond markets proved immune to the appeal of MAGAnomics; Trump was therefore almost immediately forced to hit the pause button, or at least the ...
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