Inflation Is Rising. Unemployment Is Rising. Even Gold and Bitcoin Are Failing.

This is not normal inflation.

In a healthy inflationary expansion, demand rises, companies hire, wages follow prices, and speculative assets attract capital.

Now the opposite structure is forming.

Inflation forecasts have been raised across most major economies, while growth forecasts have been cut. Real wage recovery is slowing, labor markets are weakening, and unemployment risk is rising.

At the same time, capital is not moving confidently into risk.

Crypto markets have lost roughly 35% of their value since late 2025, while gold has also suffered sharp liquidity-driven selloffs.

That combination matters:

higher prices, weaker wages, rising unemployment, and falling speculative assets.

This is the structure of stagflation.

It means capital is not pricing growth.

It is moving toward liquidity and survival.

My risk window is the next six months.

The trigger could be a property-credit shock, a disorderly yen carry-trade unwind, or another geopolitical event that pushes energy and borrowing costs higher.

The exact domino is unknown.

The capital flight has already started.