The Great Zombification of Capital
March 15, 2026Neijuan, or the Silent Involution Devouring East and West The Chinese have a word for it. Neijuan — awkwardly translated as “involution”: intense activity, massive deployment of capital, the appearance of vitality — and real returns collapsing until the moment they can no longer be concealed. BlackRock limits withdrawals. Blue Owl loses a third of…