These days, everyone is watching the US-China tit-for-tat, but the real shockwave actually exploded on Wall Street.

First blast: The world's largest asset manager, BlackRock, directly restricts client redemptions—want to withdraw 9.3%, only given 5%, the rest is forcibly withheld. This is called "liquidity management," but essentially it's defaulting. Soon after, Blackstone and Burning Capital also froze redemptions one after another. The three giants all blew up, and the $3 trillion private credit market is beginning to default across the board.
Second blast: Oil prices soared 12% in one day, breaking through $90. A single message from the Strait of Hormuz caused inflation to rebound immediately. The Federal Reserve's rate cuts are hopeless, and the risk of stagflation is at its maximum.
Third blast: Non-farm employment not only failed to grow but plummeted by 92,000, with the unemployment rate jumping to 10.4%. Goldman Sachs bluntly stated: The US economy has already stepped into the quagmire of stagflation.
These three shocks seem isolated but are actually part of a cause-and-effect cycle: geopolitical conflicts push oil prices higher → inflation rebounds → employment worsens → private credit collapses → systemic risk ignites.
Even more concerning, Iran used drones costing only a few thousand dollars to consume interceptors worth millions of dollars each. In one month, Iran produced 100 missiles, while the US could only produce six or seven interceptors. How can this fight be fought?
Military experts lament: Even Iran can't afford to keep up, and they still want to compete with industrial powers for capacity?
Old Trump is now caught in a dilemma: withdrawing equals geopolitical bankruptcy; fighting means no money, no people, no missiles. Domestic credit collapse, runaway inflation, shrinking employment—one wrong step, and it’s all downhill.
History is never new: the Vietnam War dragged down the US economy, and the stagflation curse lasted ten years. Today, the script is being rewritten.
The Federal Reserve only has one way out: print money to save the market. Inflation is always better than stagflation. But the bombs have already gone off—will it turn into a chain reaction? Will it surpass 2008?
Your guess. #特朗普称伊朗战事接近尾声 $ZEC