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The Years of Plenty

Global Macro Update

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Navigating Constraints: The Illusion of Power in Investment and Politics

This chapter explores the implications of perceived invulnerability in investment decisions, using Puerto Rican energy bonds as a case study. It parallels this with political actions of a former president, highlighting the potential pitfalls of ignoring established norms and the risks they pose for long-term consequences in the U.S.

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