The Macro Butler
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The Macro Butler aims to deliver concise yet comprehensive macroeconomic insights that impact global and regional markets. We analyze key indicators, trends to provide actionable & timely investment recommendations to all kind of investors.
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The NHS has backpedaled under public outrage, yet this is the same body that once proclaimed “chestfeeding liquid” from trans individuals safe for infants.
With cousin marriage now touted as a cultural boon, one can only wonder: what moral taboos will fall next? The United Kingdom, once a global standard-bearer, seems intent on a full societal and cultural self-immolation.

https://www.nhs.uk/pregnancy/having-a-baby-if-you-are-lgbt-plus/chestfeeding-if-youre-trans-or-non-binary/
France’s Prime Minister Sébastien “Le-Corniaud” — a lame duck from day minus one — has resigned less than a month after taking office, once his right-wing “friends” hinted they’d rather not be seen with him. The Élysée confirmed his exit just hours after he’d unveiled his grand “rupture” cabinet — which, in true French fashion, looked exactly like the old one.

https://www.reuters.com/world/europe/french-socialist-leader-will-vote-against-pm-lecornu-things-stand-2025-10-06/
‘Le-Corniaud’ at least leaves with a trophy — France’s new record for the shortest-serving Prime Minister in history. He’s the fifth head of government in under two years, beating Michel Barnier’s three-month stint by a landslide… or rather, a slip.
Now Macro Leon faces three unappetizing options: appoint yet another doomed PM, call early elections (which blew up in his face last time), or pull the ultimate stunt — resign. The last seems far-fetched, but in Le Petit Napoleon’s crumbling Fifth Republic, nothing is too absurd to imagine. How he plans to limp to 2027 is anyone’s guess — perhaps by appointing a new PM every quarter, just to keep things lively.
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While France’s “Le-Corniaud” prime minister limps toward his political guillotine, Japan has crowned its own lame duck. Takaichi — a proud disciple of Abenomics’ holy trinity of cheap money, fiscal bloat, and reform kabuki — takes charge just as Japan faces economic headaches and diplomatic migraines.

Her rise follows Ishiba’s exit after the LDP managed the rare feat of losing both houses, leaving her to lead a minority government. When the Diet meets on October 15, opposition parties could block her confirmation — but let’s be honest, Japanese politics rarely enjoys that much excitement.

https://www.reuters.com/world/china/japans-ruling-party-pick-new-leader-hoping-revive-fortunes-2025-10-03/
While Wall Street’s banksters keep chanting about a “strong yen” and a “soft dollar,” anyone with a grasp of arithmetic knows better — Japan’s next lame-duck prime minister is a dyed-in-the-wool Keynesian ready to spend money the government doesn’t have and borrow what it can’t repay.
In this context, it’s no surprise that one-week risk reversals in USD/JPY surged to 44 bps, favoring calls over puts, after previously trading 22 bps in favor of the yen — marking the third most bearish reading in three years.
Japan, much like the rest of the Keynesian world, is hurtling toward an inevitable sovereign debt crisis — one accelerated by the steady erosion of public trust in institutions that create crises only to expand their control under the guise of solving them, all in service of the same Malthusian-Keynesian blueprint of financial dependency and soft servitude.
It’s not just public institutions losing the trust of We The People — the legacy media, the self-proclaimed guardian of truth, has been fully exposed as a propaganda arm for political and corporate interests.
According to the latest Gallup poll, only 28% of Americans still have a “great deal” or “fair amount” of trust in newspapers, television, and radio — a number that seems shockingly high given the media’s performance since the pandemic turned newsrooms into echo chambers for the establishment narrative.

https://news.gallup.com/poll/695762/trust-media-new-low.aspx
Just a year ago, 31% of Americans still trusted the media — a number that looks almost nostalgic now. Back in 2020, during the COVID hysteria, 40% still clung to the belief that mainstream outlets were credible. Fast-forward to today: seven in ten Americans say they have little to no confidence in mass media. Of those, 36% admit to having “not very much” trust, and 34% have “none at all.” In other words, the Fourth Estate has officially become the Fourth Entertainment Channel.
Back in the 1970s, nearly 70% of Americans trusted TV, radio, and newspapers — a golden age when Walter Cronkite was “the most trusted man in America.”

By 1997, that trust fell to 53%, slipped below 50% in 2004, and as of mid-September 2025, Gallup reports it’s at an all-time low.
Republicans’ faith in the media has collapsed from 21% in 2015 to just 8% today, while barely half (51%) of Democrats still believe what they hear — the weakest showing since 2016. Independents? They checked out two decades ago; only 27% now trust legacy outlets.

The generational divide is also telling: nearly 70% of Democrats over 65 still cling to the idea of a truthful press, while trust plunges with each younger cohort. Even among Republicans, the elderly show the highest faith at 17%, while middle-aged conservatives (30–49) are down to a vanishing 6%.
Media is too big
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Today’s “journalism” is a nonstop barrage — a 24/7 echo chamber that hammers the public with curated narratives at every glance, click, and scroll.

Step outside, and the messaging follows; open your phone, and it multiplies.

Social media has turned every citizen into a wannabe correspondent, replaying the same recycled clips and slogans.
The result? A nation exhausted — not just by the noise, but by the relentless psychological warfare of the establishment’s mockingbird media machine.
While war drums echo, Washington can’t even keep the lights on. Lawmakers squabble over the ever-growing deficit, sparking shutdowns over healthcare spending while funnelling half a billion to PBS/NPR to keep the propaganda flowing. Congress demands raises, bodyguards, and home security, yet Americans face crime without relief. And of course, $437 million goes to the European Bank for Reconstruction and Development—because apparently, the U.S. can’t reopen without another handout to Ukraine.

https://www.crfb.org/papers/government-shutdowns-qa-everything-you-should-know
Apparently, in Washington, dying on the job still pays better than working in the private sector. The latest “temporary” spending patch includes a $174,000 death gratuity for the families of Raul Grijalva (AZ), Gerald Connolly (VA), and Sylvester Turner (TX) — because even in death, Congress insists on being a taxpayer expense.


https://www.ntu.org/foundation/detail/modern-benefits-make-this-outdated-congressional-perk-obsolete
Why should Americans foot the bill for these partisan perks that serve no one but the political class? Simple: in D.C., fiscal responsibility is as dead as the congressmen they’re paying tribute to.
While the U.S. government remains on self-inflicted vacation, the Treasury somehow still found the lights to issue $58 billion in 3-year paper — because debt never takes a day off. The yield came in at 3.576%, up from last month’s 3.485%, yet still flirting with three-year lows. The auction even stopped 0.8 bps through the 3.584% when-issued — the biggest stop since February. Who says you can’t run a bond market while the government’s out to lunch?
The bid-to-cover came in at 2.66 — a mild dip from last month’s 2.73 but still comfortably above the six-auction average of 2.55. Under the hood, things looked a bit wobbly: Indirects pulled back to 62.7% from 74.2% in September, while Directs suddenly found religion, jumping to 26.6% from 17.4%. That left Dealers holding a measly 10.7% — just shy of a record low. In other words, even in a shutdown, the bond market still manages to surprise — mostly by who’s not showing up.
Overall, it was a softish auction — hardly shocking when wars are multiplying faster than Treasury press releases. More investors are finally waking up to the inconvenient truth: the so-called “risk-free” asset isn’t exactly free of risk anymore.
In a hot-mic Oval Office moment, the Warmonger-in-Chief confessed he’s “sort of made a decision” on shipping long-range Tomahawks to Ukraine, then helpfully added he first needs to ask the Cokeheads from Kiyv where they’d point them. If approved, Western analysts say some 3,500 military sites fall inside a >1,600 km strike envelope — a capability that can retarget mid-flight via satellite links and sip real-time recon while skirting air-defence bubbles.

Tomahawks aren’t invincible (they’re subsonic and AWACS-visible), and terrain, layered air defences and EW matter — but even a 1,500 km practical reach leaves plenty of targets.
As the warmongering Malthusian from Ukraine — generously sponsored by the men of Davos — keeps trying to turn a regional war into World War III, Kyiv launched long-range drone strikes deep into Russian territory.

Authorities in Western Siberia’s Tyumen region reported downing three drones near an oil refinery, marking the deepest Ukrainian incursion since the war began. Locals posted videos of fire trucks racing toward the Antipinsky refinery — one of Russia’s largest — though officials insist all is calm, no explosions, no fires, nothing to see here. Two mid-air blasts and mobile outages suggest otherwise. Tyumen, by the way, sits 2,000 kilometers from Ukraine — proof that in today’s “peacekeeping” era, the Ministry of War has excellent range.

https://kyivindependent.com/ukrainian-drones-reportedly-target-oil-infrastructure-in-siberia-over-2000-km-away-from-frontline/
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Donald Copperfield surely knows that handing over Tomahawks would vaporize whatever’s left of diplomatic dialogue with Moscow. But this is a leader famous for abrupt mood swings — one day a peacemaker, the next a pyromaniac — making his “thinking” less a strategy and more a weather forecast: unpredictable, stormy, and occasionally self-inflicted.