The B:Side Way with Chris Myers

The B:Side Way with Chris Myers

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It’s Not About the Tariffs
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It’s Not About the Tariffs

Why the Real Forces Shaping Our Future Are Harder to See—and Harder to Stop

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Christopher Myers
Apr 08, 2025
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The B:Side Way with Chris Myers
The B:Side Way with Chris Myers
It’s Not About the Tariffs
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Everyone’s talking about tariffs—and for good reason.

They’re dramatic. They’re tangible. And they’re scary. Announcements hit like thunderclaps: Trump hikes tariffs in response to China, which hiked tariffs in response to Trump, which was in response to… well, you get the idea. Markets flinch. Headlines scream. And we act like this is the story. Like this is the thing that matters most.

But we’re kidding ourselves.

The anxiety we’re feeling—the tension in markets, the dysfunction in politics, the quiet dread humming beneath conversations in boardrooms and at kitchen tables—none of it is really about tariffs. Those are just the sparks. The dry brush has been piling up for years.

What we’re witnessing now is something deeper: a shift in power. In capital. In confidence. A slow-motion breakdown of a system that no longer fits the world it’s supposed to support.

close-up photo of broken concrete wall
Photo by Becca Lavin on Unsplash

The Surface Is Cracking

Yes, tariffs are a factor. But they’re a symptom, not the disease. The real story is about structure—about the global scaffolding that held everything together for the past eighty years, and how it’s starting to bend.

We built our world on a set of assumptions:

– Globalization is good.

– America sets the rules.

– Growth will continue.

– Capital will stay cheap.

– Technology will make life easier, not harder.

Those assumptions drove everything from international trade policy to the way we price risk. But they’re breaking down. We’re seeing a retreat from global trade. A rise in protectionism. A slow-motion breakdown of multilateral cooperation. Institutions are faltering under their own weight—too slow to adapt, too busy protecting themselves to do much good.

And maybe most important of all: we’re seeing trust collapse. Not just in government or the media or the markets, but in each other.

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The Real Friction Is Deeper

There are five big forces—structural ones—that are colliding right now. They’re not new, but their interactions are getting more volatile by the day. And they’re shaping everything from interest rates to international relations.

1. Debt and Depletion

Our economic system runs on leverage. For decades, we’ve pulled demand forward with debt, papered over problems with cheap money, and counted on growth to bail us out. But we’re reaching the limits. The debt loads—both public and private—are staggering. And as interest rates normalize, the cost of maintaining this machine is starting to outstrip the value it produces.

Eventually, the bill comes due. When that happens, governments face impossible choices: raise taxes, slash spending, or print more money and risk inflation. None of those options make for easy politics—or stable markets.

2. Political Dysfunction

We’ve hollowed out the middle. What’s left are two increasingly radical factions, each convinced the other is trying to destroy the country. And maybe worse, we’ve convinced ourselves that compromise is weakness. That disagreement is betrayal. That nuance is cowardice.

That mindset doesn’t just stall progress—it breaks systems. Democracies need negotiation. Markets need predictability. But we’re burning both in favor of short-term wins and ideological purity.

3. Geopolitical Reordering

The era of one dominant superpower is over. The United States is still strong, but it’s no longer unchallenged. China is asserting itself. Regional powers—India, Turkey, Brazil—are no longer content to sit quietly. And the global institutions that kept the peace—the UN, NATO, the WTO—are losing relevance fast.

The post-World War II order was built on the idea that nations would work together, share information, and resolve disputes through dialogue. Increasingly, we’re seeing a return to a world where power dictates policy—and where trust is in short supply.

4. Nature’s Recoil

We’ve spent decades treating nature like a resource to be extracted, managed, or ignored. Now it’s punching back. Droughts, floods, fires, pandemics—these aren’t random. They’re feedback loops.

And the systems we built—supply chains, energy grids, infrastructure—aren’t built for this kind of volatility. The cost of resilience, once a rounding error, is now a competitive advantage.

5. Exponential Tech Disruption

AI, automation, synthetic biology, deepfakes, cyberweapons—the frontier is accelerating. And we’re not ready.

Institutions that were built in an analog age are trying to regulate digital monsters. Legal frameworks are decades behind. Ethics? Governance? We’re making it up as we go.

Tech has always moved fast. But the difference now is that the stakes are higher. The gap between what we can build and what we can understand is widening. That gap is where the chaos lives.

This Has Happened Before

None of this is truly new. Every few generations, the world resets. It doesn’t happen gently. It happens through crisis. The specifics vary—wars, depressions, revolutions—but the pattern is always the same: the old order stops working, the cracks spread, and then something gives.

A good example? Look at the 1930s.

The roaring twenties were built on leverage, globalization, and a misplaced faith in perpetual prosperity. The stock market boom, fueled by easy credit, created an illusion of stability. Then came the crash. Suddenly the systems that seemed unshakable—markets, banks, even governments—buckled under pressure.

The Great Depression didn’t just wreck economies. It shattered assumptions. It exposed just how brittle the system really was. Confidence vanished. Extremism took hold. Countries turned inward. Trade collapsed. And by the end of the decade, the world was at war.

Out of that wreckage came a new order. Bretton Woods. The Marshall Plan. The United Nations. A rebuilt Europe. A global system designed—explicitly—to avoid repeating the same mistakes.

It worked, for a while. But every system contains the seeds of its own unraveling. And every generation eventually forgets what the last one learned the hard way.

Markets Hate Ambiguity

And that’s why volatility is spiking.

Markets don’t mind risk. They can price risk. What they can’t handle is uncertainty. And right now, we’re swimming in it.

Nobody knows where interest rates are going. Nobody knows what China will do next. Nobody knows whether the U.S. will govern itself effectively in the next five years. Nobody even knows which technologies will define the next economy—or who will control them.

So capital gets cautious. Projects get delayed. Hiring freezes. Investment slows. The market’s not scared of tariffs. It’s scared of not knowing what kind of world it’s investing in.

Stop Chasing Noise. Start Reading Signals.

The mistake we make—again and again—is focusing on what’s loud instead of what’s true. We argue about headlines and miss the trends underneath. But the signals are there. We just have to look.

The shift away from global integration. The breakdown of political trust. The fraying of supply chains. The rise of national self-sufficiency. The surge of capital into “safe” assets despite negative real yields. These aren’t random. They’re the signs of a system being reconfigured.

Leaders who can see the pattern have a chance to act early. Not to predict the future, but to position for it.

What This Means for Leaders

If you’re building a business, running a bank, or leading a team, this isn’t the time for business as usual. It’s the time to ask harder questions.

Are we relying on assumptions that no longer hold? Are we building on sand? Are we prepared for a world where capital is more expensive, trust is harder to earn, and the rules are in flux?

This is the moment for clarity—not certainty, but clarity. About who we are. About what we stand for. And about what kind of future we’re willing to build.

At B:Side, we’re not chasing the headlines. We’re trying to read the map. And the map says we’re entering uncharted territory—not because of tariffs or tweets, but because the cycle is turning, and the world is trying to reset itself.

That kind of change is never easy. But it’s where real leadership begins.

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By Christopher Myers · Launched a year ago
Leadership. Management. Culture. This is what B:Side Capital is all about. It's worked for us. Now, let us help make it work for you.
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