Liquidity Crunch, Fiscal Dominance, and Humanity’s Last Invention

Markets are straining, deficits are dictating monetary policy, automation is gutting labor, and AI is forcing a new energy regime. The Fourth Turning keeps rolling.

This week, global macro stopped whispering and started shouting.

Liquidity is tightening, repo markets are wobbling, and the Fed’s plumbing is starting to creak under the weight of a $2T annual deficit. Meanwhile:

• Robotaxis slash labor costs by 80%
  

• Amazon prepares for a 75% workforce reduction
  

• UBI enters mainstream policy debate
  

• Bitcoin falters while gold steals the narrative
  

• COP 30 quietly concedes to fossil-fueled AI
  

• The shutdown’s aftershocks hit the real economy
  

• AGI risk moves from sci-fi to macro driver
  

Inside the full MacroMashup:

➡ Liquidity stress and the return of fiscal dominance
➡ Repo strain and the Fed’s SRF going full throttle
➡ Automation’s labor shock + the inevitability of UBI
➡ Bitcoin’s narrative crisis vs. gold’s resurgence
➡ COP 30, natural gas, and the AI-energy paradox
➡ The post-shutdown macro damage
➡ The AI Rubicon: AGI, geopolitics, power grids, and capital

This is the busiest macro week of Q4—and the most consequential.

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