Jensen Huang is toast. His fall will trigger doubts and weakness but also demands to know more. Huang has been caught. Who has not? How much more rank corruption is waiting to be exposed among the entitled denizens of the court of King Donald? What sordid skeletons from the past may be reawakened?

Elon Musk has been described as the biggest loser from the Blue Tsunami midterms – what will it mean for his firms’ valuations, and his future influence. We need to know what really went on between Musk and Trump. Even more critical is the utility of SpaceX’s technology and Starlink’s satellite constellation as a Strategic Resource. Some tough decisions, but sensible choices lie ahead.

Democracy wins. Trump was rejected by American voters, but his legacy will remain. The damage to done to the economy, the institutions of state, the constitution, and global power will shape America and geopolitics for decades. It’s unclear how the rest of Trump’s lame duck presidency will play out, but Corruption and the nexus of Wealth and Power will come under massively heightened scrutiny. Should the next US administration nationalise SpaceX?

Today’s US Midterms are a Referendum on the Presidency – and will be consequential for global markets. The result will depend entirely how many Republicans are still minded to Vote for MAGA. They might want to think back to an earlier age, the Republican President Ronald Reagan, and ask what the current incumbent and Reagan have in common, if anything.

Nobody wants to pay taxes or spend money on defence. But both are inevitable. Investment in security has the potential for significant returns for investors and can drive considerable economic gains for nations that spend wisely. History is written by the victors, but the costs of underfunded defence are very clear – ask the losers how well scrimping on Defence worked for them.

AI is changing the world. It’s the greatest new, new thing ever… since the last new, new thing and till the next new, new thing emerges. Given all the risks around business adoption, growth, the bursting bubble in NeoCloud debt, and AI competition, can you really justify a $1.5 trillion valuation for Anthropic, a firm that recorded a $81 bln loss over the first half of this year!

Global conflict risks are rising. The wars in Ukraine and the Gulf are the openers. However, a global conflict for hegemonic power between China and the USA is more likely to take the form of “Grey” conflict than outright “kinetics” between them – triggering further inflation threats, political and economic disruption, and supply chain destabilisation driven by ongoing cyber-attacks, fake news and regional conflict. The resilience of nations will be the critical factor – and that means being prepared to defend themselves.

Elon Musk is the richest man in history. With great wealth comes great power and influence. How wisely is Musk wielding that power? Switching off Starlink in Ukraine, threatening Europe with “devastating consequences” on satellite broadband, and whatever deals he doing on the regulation of his companies all beg closer examination. He raises questions about his accountability, and whose interests he serves.

French political instability and it’s looming fiscal crisis will distract and delay the European project of a shift towards “strategic unity” in the face of a) the immediate security threats from Russia, and b) the long-term geopolitical shift towards China at the end of the Transatlantic American age. How Europe responds to the growing French threat could determine its economic outlook for decades.

The US economy looks rosy – if you are looking at the fantabulous promises of the Stock Market. The reality is very different. The scale of the $40 trillion National Debt is a problem that will not just go away and puts substantial limits on how the US can respond to any new economic or conflict crisis without risking massive inflation. Underlying the scale of the debt is not just poor spending decisions, but tax cuts that have accelerated the debt crisis.