The BBC is/was the world’s most trusted broadcaster. It’s impartiality stood above the fake news and politicised opinion presented as irrefuttable facts pumped out by private channels. It was held to the highest standards, and when it’s seen to have slipped – as has happened – suddenly there is no stopping a tidal wave of manufactured shock and fury flooding the media space.

Yet again I was wrong and overly bearish. Markets survived October with barely a shrug. Everything is apparently fine and dandy.. nothing to worry about? Complacency and belief abound. We have been here before…. And what does Rugby tell us about markets?

Forget the markets, forget the Fed, forget the Anti-dollar alliance – the issue of the day is what car brand best represents the aspirations of a bloke that knows nothing about cars? Should I buy something cheap, cheerful and reliable? In other words… Not a Land Rover?

I am notionally on holiday this week, but it struck me Trump’s latest succession of “flooding the space” announcements is just flow in the on-going madness of markets and politics. I’ve loaded Catch-22 into my kindle to re-read in search of insights on what might come next.

There are times when you have to laugh at the nonsense of it all. From a delusional, fantastical market to a blithering, blathering President, what’s not to like about these summer markets…? Er, how about how some great look back earnings hide the coming reality?

Trump has been sending “for your immediate attention”, letters to former friends and allies hiking tariffs and threatening retribution if they retaliate. Yawn. Who cares? The Global economy gets it. America is no longer America. Global trade is shifting. Excellent – that spells opportunity!

What an interesting time we live in. Uncertainty, instability, markets hitting new highs as fears plumb new depths. Nothing to worry about. The global economy and markers are changing. Just how we won’t know till we can see it in the rear-view mirror.

Global Oil Markets have shrugged off the supply threats. Markets seen unfazed by the economic consequences of trade ructions and tariffs. Rising instability elicits little more than yawns. Are we walking into a crisis?

The collapse of the Musk/Trump bromance surprised no one. But the speed at which its unravelling raises massive distraction risks to further challenge the myth of American exceptionalism. While Musk may still be the world’s richest man – Trump could well shatter his companies. Tesla is already a busted flush, and crisis in the Starship programme at Space X could end the Musk Myth completely.

The last 4 months has been exhausting coping with change, uncertainty and chaos – yet markets have emerged basically unchanged. Stocks are flat and bonds around the same. Nothing to worry about? Or… should we remain concerned as the consequences play out?