Trump’s biggest nightmare is escalation.
Here’s the bigger picture almost no one is connecting:
We are watching a near-perfect replay of the late 1960s into the 1970s except the fundamentals today are far worse.
Old economy sectors are mirroring the exact setup before the brutal stagflation era. That first 30% decline in the 1960s happened with zero drop in earnings… before endless wars, oil shocks, and stagflation made it much uglier in the 1970s.
Sound familiar? Now layer on a monstrous $7 trillion semiconductor bubble trading at or above dot-com peak valuations.
Trump understands the ramifications. Escalating risks detonating an already coiled powder keg. (0IL)
Retreat looks weak. Either path carries massive danger.
High stakes.
Iran holds the cards.
History is rhyming .. and it’s getting loud.