For everyone who said this was just an artificially inflated bubble: this isn’t about a market bubble — this is about institutional failure on a national scale.
Look at what happened right after Liberation Day — U.S. Treasury yields exploded upward, and not because of growth optimism. It’s a sign that investors no longer see Treasuries as a safe haven during financial stress or liquidity crises. That’s huge.
In just three weeks, the U.S. managed to burn through 100 years of accumulated soft power. All the credibility that made it the global “safe place to park your money” — gone, or at least deeply shaken.
This isn’t a bubble bursting. It’s the world reconsidering whether America can be trusted when it really matters.