In Episode 153, Kevin Coldiron, Jamie Lee, and Tim Lee explain how the behavior of financial markets is no longer a function of the economy, interest rates, or political developments, but rather a manifestation of what they call “the rise of carry” or the suppression of volatility.



The rise of carry can be understood as part of a much broader phenomenon, with implications for all aspects of human affairs. Its expression in financial markets alone has had profound consequences for society and the wor