Three massive questions are hanging over markets right now, and they could reshape everything in 2025.

First up: are we sliding into a new cold war? Geopolitical tensions aren't just headlines anymore—they're rewiring supply chains and forcing capital to pick sides. Then there's the tariff wildcard. If Trump's trade policies actually kick in at scale, we're looking at potential headwinds for global GDP that nobody's fully priced in yet.

And here's the big one that keeps popping up in every trading desk conversation: is AI genuinely revolutionary, or are we watching another classic bubble inflate in real-time? The valuations are bonkers, the hype is everywhere, but the sustainable business models? Still pretty murky.

What's wild is how these three threads aren't separate—they're tangled together. Trade wars could accelerate the AI arms race. Cold war dynamics might actually prop up tech spending. Or everything could unravel simultaneously.

Either way, the macro landscape for the next twelve months just got a whole lot more complicated.