"5 to 10% is going to cause immense damage. When cash flows stop at the margin, everything collapses because of leverage."

Nik Bhatia returns to break down the macro landscape as war in Iran sends oil to $100, the dollar surges, and volatility clouds the outlook.

Nik explains why he's wiped the slate clean on his macro thesis, why the US economy may still avoid recession despite the chaos, and how the Genius Act could reshape the global dollar system through stablecoins.

We also get into AI job displacement, why treasuries are still the bedrock of global finance, Bitcoin's decoupling signal, and whether the four-year cycle is finally dead.

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