It is possible to cram Cataclysm, Armageddon and Apocalypse into a single Morning Porridge at the start of a week that promises to be market friendly? Of course it is! There is plenty of stuff to worry about, but when the noise sounds so positive, the herd that is the market will keep on fooling themselves.. The higher they climb, the further there is to fall…

Argentina’s financial crises are legendary – a 10th default is now in prospect. President Milei’s efforts to turn the nation around through austerity, government cuts, and economic shock therapy made him a poster boy for the Libertarian Project 2025. Surprisingly, they appeared to be working, till suddenly they aren’t. Now the USA looks set to bail out the nation.

A big question for 2025 is how resilient the US Treasury market will be to tax cuts, spending hikes and the deficit surpassing $40 bln in 2026! Trump is going to slash spending – taking tips from Argentina’s Javier Milei. Will it work – and is it suitable policy? Here in the UK, govt is taking tough decisions, but we are poised at the edge of the rabbit hole as polarisation looks set to dominate!

Would you rather lose your job to stagflation, recession or deflation? Argentina’s voters have gone for the populist option – good luck! OpenAI – I guess the genie is out the bottle.