Resilient Global Economy

Here’s What’s Shoring Up the Global Economy During the Energy Shock
https://www.wsj.com/economy/global/global-economy-iran-energy-abd8828f
In the two months since the Strait of Hormuz was closed, many of the world’s major economies have been soldiering on. 

Cronyism in America

The High Cost of Trump’s Crony Diplomacy
https://www.project-syndicate.org/commentary/trump-crony-diplomacy-will-undermine-us-global-power-in-the-long-term-by-brahma-chellaney-2026-05
Effective diplomacy depends on credibility, consistency, and a clear alignment with national interests. The US administration’s personalized, opaque, and venal shadow diplomacy delivers none of that, and it will leave the US less respected, less trusted, and less effective on the world stage.  

Germany Has Fiscal Space

Germany Has the Cash to Revitalize Its Economy, but Can’t Seem to Spend It
https://www.wsj.com/world/europe/germany-has-the-cash-to-revitalize-its-economy-but-cant-seem-to-spend-it-5bd38dfe
While much of the rest of the developed world is swimming in too much debt, Germany is having trouble using just a tiny bit more. 

A Shrinking Supply of Entry-Level Jobs

A Dozen Young Job Hunters on What It Takes to Get Hired
https://www.bloomberg.com/features/2026-job-hunt-stories/
Entering the workforce is especially tough right now. Just ask those trying.
 
A Bad Entry-Level Job Market Is Everyone’s Problem
https://www.bloomberg.com/news/articles/2026-04-13/a-healthy-economy-depends-on-ample-entry-level-jobs 

These Are the Hiring Hot Spots Where College Grads Are Landing Good Jobs

https://www.wsj.com/lifestyle/careers/cities-college-graduate-new-hires-c3771d3d

The best prospects for many 20-somethings are in fast-growing Southern cities such as Birmingham, Ala., Tampa, Fla., and Raleigh, N.C., a new analysis shows.

Profile of a Permabear (Jeremy Grantham)

We’re in the biggest stock market bubble ever, warns British investment oracle
https://www.telegraph.co.uk/business/2026/05/03/biggest-stock-market-bubble-ever-british-investment-oracle/
Jeremy Grantham says the inevitable correction could be as grim as the Great Depression. 

‘Double-Dealing’ Pakistan

‘Double-dealing’ Pakistan plots windfall from Iran peacemaker role
https://www.telegraph.co.uk/world-news/2026/05/03/pakistan-takes-centre-stage-in-iran-negotiations/
Trump’s favorite field marshal takes center stage in negotiations... but Islamabad’s motives may not be merely altruistic.
 
Related:
https://www.fdd.org/analysis/2026/04/08/double-dealing-pakistan-is-the-danger-looming-over-critical-us-iran-talks/ 

A Tricky Moment in History

America Is Officially an Empire in Decline
https://www.nytimes.com/2026/05/03/opinion/iran-us-empire.html

A change has come over Trump
https://spectator.com/article/a-change-has-come-over-trump/
CHRISTOPHER CALDWELL:
Trump’s destructive side made him a trusted protest candidate for a disgruntled electorate, and a good ally for the break-all-the-rules types in Silicon Valley. He really is a wrecking ball. But that makes the present situation dangerous. No matter how much it destroys, the United States cannot win this war, because it has been unable to describe, or even establish, what its own interests are. Trump cannot negotiate his way out of the problem because he has exhausted the ability of others to cooperate with him. It has not been lost on the Europeans that he cannot keep his word to those he disagrees with. As for the Iranians, it is tough to pursue negotiations when your negotiating partners are trying to murder you from the air.