All Macro-Thematic Trend Reports:

“Suppose they gave a war and nobody came”… because China wouldn’t supply the rare earths (FFTT 6/24/25)

Israel is running low on defensive interceptors, official says     -Wall Street Journal headline, 6/18/25 Israel-Iran conflict may last only as long as their missiles hold out     -Washington Post headline, 6/17/25 Israeli Official: Iran can likely sustain the current rate of missile fire at Israel for possibly as long as 5 months, provided that their missile launchers are not destroyed.     -NBC, 6/19/25 Chinese rare earth magnet exports down by 76% in May, to lowest level on

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US complaints on China trade practices echo UK complaints on China trade from 1770 (FFTT, 6/17/25)

China’s vision of trade is exporting without importing.     -Brad Setser, Council on Foreign Relations, via WSJ, 6/14/25 In volume terms, which adjust for the effect of exchange rates, Chinese imports through March haven’t grown at all since the end of 2022—while exports have rocketed 33% higher, according to data from the Netherlands Bureau of Economic Policy Analysis…     -Wall Street Journal, “Trade with China is Becoming a One-Way Street”, 6/14/25 …beneath the hatches sealed with tar,

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US threatens an economic “Iron Curtain” – but the west is on the “USSR side” of the curtain…Part 2 (FFTT, 6/10/25)

US threatens an economic “Iron Curtain”…but the west is on the “USSR side” of the curtain     -Title of the 7/30/24 edition of FFTT In a few simple charts we show that the BRICS+ make and net export goods while the West (US, EU, Japan, etc.) make and net export debt; as such,any economic “Iron Curtain” is highly likely to accelerate several powerful structural forces in coming quarters/years: a) Deflation and lower bond yields in the

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