The story so far
Published in this order
2 parts, from Friday, 6 November 2026 to Sunday, 8 November 2026. The series stays open — we add to it as the subject moves.
In full
Each part, with what it concluded
Read in any order. Each part stands on its own.
Trump just lost Congress. What history says happens next
Presidents have lost Congress mid-term many times. Five things almost always follow, and most of them matter less to markets than the headlines suggest.
Read part 1 →American resilience, sorted — and the one place it cuts against you
The American system put itself right on schedule, with no crisis and no emergency. That is a real strength, and it is a good reason to stop reacting to frightening headlines. It is not a reason to put more money into America — and last week it worked directly against the most crowded investment idea in the world.
Read part 2 →