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Geopolitics

Nothing Ever Happens: 2026

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Bulls Say, Bears Say

Bulls Say

Despite headlines, most geopolitical 'crises' do not escalate to regime-changing events

US-Iran conflict is contained at the targeted strikes level with no invasion or nuclear escalation

Market's 56% YES reflects that the world typically muddles through without catastrophic ruptures

Bears Say

2026 has already seen unprecedented US military strikes on Iran and Strait of Hormuz disruption

Ukraine war, Iran conflict, and Taiwan tension simultaneously is historically extraordinary

Price dropped 8% weekly — traders are becoming less confident the 'nothing happens' thesis holds