Big Tech's earnings outpace those of the global market

 

Rare Earths, Rare Independence

 

Source: USGS Mineral Commodity Summaries, VisualCapitalist

Source: China Water Risk Report, “Rare Earths: Shades Of Grey”

Investor’s Corner: A rising liquidity tide lifts all markets

Global liquidity is the stream of cash and credit flowing through the financial system – think of it as oxygen for a debt-based global economy. Economists track this through aggregated M2 money supply, which includes currencies and bank deposits across major economies. At nearly US$96 trillion today, it's one of the most powerful forces shaping markets, and it’s only growing bigger.

During the pandemic crisis in 2020, for example, a burst of stimulus helped cushion economies against a massive slump. Another wave came in 2024, offsetting the impact of higher interest rates. That’s probably a big reason why the economy has chugged along over the past couple of years and avoided a recession: liquidity has kept flowing despite rising rates.

The nuclear option