USA

The banking systems of the United States and the eurozone look like the star pupil who has memorized the lessons of 2008. Capital is at record highs, stress tests have been passed, and bad loans are under control. But the exam questions have changed, and part of the class has started peeking at the cheat sheet of deregulation. The stability is real, but it rests on a wing and a prayer, a favorable scenario, and the hope that the commercial real estate wall of debt will somehow dissolve on its own.

If you think the protests in Europe flared up by chance, you are mistaken. But there is no single hand on the remote control either. Who gains from the fires? Why did Washington deliver its diagnosis in advance? And what does Russian gas have to do with it?

What Was Actually Burning

A second front of the Iran war has opened on the Arabian Peninsula, and the tone there is set not by Saudi skyscrapers but by Houthi missiles. What is happening between Ansar Allah, the Yemeni government and Riyadh? What does it mean for Russians and for business? How long will it last, and who is responsible for what?

How the Truce Collapsed

The Republican Party has no collective leadership, but there is one person whose word carries more weight than anyone else's: Donald Trump. The party's headquarters is flush with cash and free of debt, and money flows through MAGA Inc. and the Senate fund. Where are decisions made? How are the limits circumvented? Is it true that the fight against the Democrats is moving to Europe?

The Charter and the Reality

Prospects for a change in the US approach to Ukraine received concrete confirmation over the past week: a diesel deal with Moscow, a speed limit on Starshield, and discussion of easing sanctions on tankers. What exactly happened? How much of a turning point is it? What does it give Russian business and the budget? Let us go through the facts.

What Happened This Week

No one runs the US Democratic Party alone. The headquarters is in debt, the money is handed out by the committees of Schumer and Jeffries, closed-door funds push candidates, and activists pull to the left. Where are decisions made? How does money get around the limits? And is it true that the party is placing its people in Europe?

Official Bodies: What the Charter Says

A fire at the Cardón refinery in Venezuela has shut down the country's second-largest plant, and the world has barely noticed. Is it an accident or a symptom? Why does Caracas have no money for repairs? And what does any of this have to do with the depleted US strategic reserve? Let's start with the facts.

What Happened at Cardón

Pacific Link: Canada Launches a Pipeline to Stop Feeding the American Market

Canada has designated the Pacific Link pipeline a project of national interest: 1 million barrels per day, C$35.2–43.7 billion, and exports to Asia. What this means for the United States.

On October 4, Brazil will elect a president amid a high Selic policy rate of 13.75% and pressure on the real from a strong dollar. The outcome will determine whether the country remains within the orbit of U.S. economic policy or strengthens its multipolar course within BRICS. Which scenario is more likely, and what would it mean for the United States and Russia?

Macroeconomic Context: High Rates, Slowing Growth and Elections

New Patriots for Saudi Arabia and Qatar and a third aircraft carrier in the region look like a show of force. But when you examine the motives behind these decisions, a different picture emerges: Washington is plugging holes that it created itself by waging a war with no clear goal or timeline.

What Is Actually Known