The war is the loudest constraint across these 16 industries, and rarely the binding one.
Five markets swapped a holder who didn't care about the price for one who does.
Seventeen elements, inseparable at the source and refined in one place, behind nearly everything that moves.
The food system has a helium: one input, no substitute, concentrated in one country's ground.
Two trades, cracking into a Fed that can't ease.
Micron and Exponential View just proved the demand. This edition asks the harder question — whether it can be physically delivered.
The market sold the war premium and called it the all-clear.
The war is over. The disruption, the defeat, and the realignment it set loose are not
Two decades of treating productive capacity as a permanent inheritance has left the US with a revival programme it cannot equip, cannot staff, and cannot research its way out of.
