You're sort of describing the current conditions without any analysis of how those conditions are likely to change. For example, the high interest rates right

You're sort of describing the current conditions without any analysis of how those conditions are likely to change. For example, the high interest rates right now are due to central banks looking at the rising labor prices and inflation and probably overreacting. It is very likely that the next step is going to be a massive global slowdown. You're also very likely massively overstating the case that Russia and Taiwan mean that "globalization has ended". I do think there's important secular changes happening (the tight labor market and inflation are very obviously something new that hasn't happened in 30 years), but I strongly doubt the idea that everything has turned on a dime 180 degrees to the opposite.