The collapsing post-War economic order is not even close to being on the radar of the market cheerleaders.  We think it is a yuuge structural risk.

Priced?  Are you frickin’ kidding me?

As new technologies, globalization, and growing inequality fuel a populist backlash across the West, 2018 could be remembered as a turning point for the liberal world order. Rising nationalism, widening trade wars, and the overall weakening of international cooperation are symptoms of a deeper struggle over what international arrangements will come next.

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