War drama masks overheated markets warning signals. We can’t even get -5% down from the all time high, even though oil goes up, world is on fire, GDP is being revised down every week.
We have now entered the rampant buffoonery phase of this war. However, it appears that both sides are looking for an offramp without admitting as much. Trump has punted the Strait of Hormuz crisis to the rest of the world …