A surprising outcome of the railway bubble🚂

Plus a charted review of the macro crosscurrents 🔀

My copy of “Triumph of the Optimists.” (Photo: Sam Ro)

📉The stock market fell last week, with the S&P 500 shedding 2.0% to end at 6,740.02. The index is now down 3.4% from its Jan. 27 closing high of 6,978.60 and down 1.5% year-to-date. For more on the stock market, read: 2026 could be crappy for the stock market, and that would be normal 📉

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One of my f…