Iran's Pain Threshold: One Bank's Math

The central bank of Iran claims on the government stood at 87%yoy at end-2025 and the stock could quadruple if all spending (excluding wages) was monetized.


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Germany's Silent Shift: From Entrepreneurs To State Dependence

Germany affords itself a state bureaucracy that functions like an artificial labor market placed upstream of the private sector. The flight of hundreds of thousands into the arms of the state corresponds with the shrinking number of self-employed in the country. 



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