1. Global shipping costs have surged 80–120% since summer due to Red Sea rerouting
2. Brent & WTI capex remain 30–40% below 2010–2014 levels even as demand hits records
3. Data-center power demand is accelerating 20–25% YoY across major grids
4. Copper supply pipelines are at a 15-year low, with no large-scale mines incoming
5. The US is running a 6–7% of GDP deficit deep into an expansion
6. Governments worldwide have committed $4+ trillion to energy-transition spending
7. Wage floors across OECD economies are rising 5–7% annually
8. Housing deficits exceed 3–5 million units across the US and Europe
9. Global food inventories hover near decade lows as climate shocks hit harvests
10. Global M2 has expanded by $15+ trillion versus pre-Covid levels
11. Reshoring and dual-sourcing have lifted manufacturing costs 15–25% since 2021
12. AI-infrastructure capex is set to surpass $1 trillion by 2027
And on the policy side:
1. Washington is preparing another round of direct household payments
2. Tokyo is rolling out a new ¥16+ trillion (~$110B) stimulus program
3. Beijing has greenlit multi-trillion-yuan investment packages exceeding $1T
4. The Fed is set to terminate quantitative tightening as of December 1
5. The US Treasury is on pace to issue roughly $2 trillion in new debt per year
6. Canada is preparing to restart quantitative easing after a multi-year pause
7. Global broad money supply has climbed to a record ~$137 trillion
8. Central banks worldwide have delivered 320+ rate cuts in just 24 months
Germany additions:
1. Germany’s public deficit has blown past the debt brake (again) with new off-budget funding vehicles quietly expanding
2. German wage agreements are running 5–7%, the fastest pace in decades
3. Germany’s industrial power costs remain 2–3× US levels, locking in structural cost-push inflation
4. The country faces a 400–500 billion euro investment gap for energy transition and infrastructure - all of which is inflationary
5. Germany’s housing shortage exceeds 700,000+ units, with construction costs still climbing
