Zoltan published a pretty intense piece this week titled “War and Industrial Policy” with big takeaways around the world’s main transitions over the next few years - Re-arm (defend) Re-shore (get around blockades) Re-stock and invest (commodities) Re-wire the grid (energy transition) He dove further into the importance of commodities (which have been underinvested in, as we can see from the energy crisis in Europe), nationalism, and insensitivity to interest rates - essentially, a changing world. Basically, because trust has evaporated from all corners of modern society, people are going to start duking it out ... (full story)