Will Trump’s Idiotic Iran War Spell the End of NATO?
Trump attacked on Iran with no consultation with NATO allies, doing them great harm, yet angrily demands help. Who wants an ally like that?
Read more...Author Archives: Yves Smith
Iran War: Iran Pounds Israel with Huge Missile Barrage Just Before Trump’s Unhinged Speech Doubling Down on Failed Escalation; US Greatly Exposed to Shock as Inventories Depleted During April
Today’s Iran War update: Trump doubles down on failure as investors and pundits wake up to the economic consequences of Iran’s victory.
Read more...Satyajit Das: The Wages of War
War is not only bad for living things, but is also not-so-hot for economies and of course, societies.
Read more...Beyond Oil: The Macroeconomic Impact of Commodity Supply Disturbances
Economists typically ignore the impact of non-oil commodity shocks. They look to be at least as damaging as energy shocks.
Read more...A Fifth of NYC Built on Bygone Water Now at Risk: Study Maps City’s ‘Blue Zones’
Researchers identified more than 500 places in NYC where water was, where it floods and that will get worse due to climate change.
Read more...Links 4/1/2026
Iran War: Israel Would Thwart Trump TACO Even if Genuine; US Forces Still Arriving in Middle East as Trump to Speak This Evening; Could Strait of Hormuz Traffic Rise Meaningfully With Less Hot Conflict?
Why Trump’s apparent TACO via his hissy to leave the Strait of Hormuz mess to others may be a deception despite rising economic damage.
Read more...How Polling Failures, Gambling Legalization and Political Gridlock Paved the Way for the Explosive Rise of Prediction Markets
In the opinion of this humble blogger, prediction markets epitomize what is wrong with modern society. l
Read more...Michael Hudson and Steve Keen: How the Global Crisis Will Unfold
Michael Hudson and Steve Keen: discuss how the Iran war economic crisis will generate inflation first, and then deflation and depression.
Read more...Links 3/31/2026
Iran War: Trump Threatens Destruction of Iran Electric Generation and Oil Wells Even as WSJ Reports Temporary TACO on Trying to Force Open Strait of Hormuz
Today’s Iran war update: WSJ – Trump is trying to rearrange the deck chairs on the Titanic by not opening the Strait now but still fighting
Read more...Five Reasons Why the US Declined To Enforce Its De Facto Blockade on Cuba for Russia
Cuba gets a bit of an energy break thanks to a Russian tanker, but this delivery won’t change outcomes.
Read more...Drillers See Triple-Digit Crude and Hit the Brakes
Why drillers won’t be sucker punched by increasing production in response to a very large price increase that may be short-lived.
Read more...Iran War: US/Israel Escalation and Forceful Iran Retaliation Continue as Trump Says He May Take Iran’s Oil and Pakistan Hosts Talks With Nobody; Mr. Market Finally Waking Up as Brent Rises to $115
Today’s Iran war update: Trump fantasies deepen as the US suffers irreparable damage to its military and the global economy takes body blows.
Read more...Iran War: More Signs of a Long Conflict and Resulting Severe Economic Damage
The latest Iran war update: both sides dig in, virtually assuring at least a long-ish conflict and economic devastation.
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