PODCAST: Why This Recession is Different

IEA Head Warns Iran War Sparked Energy Crisis Worse Than 1970s Oil Shocks, Ukraine Fallout The head of the International Energy Agency intensified his apocalyptic warning about the global energy crisis, stating early Monday that the US-Israel war with Iran has sparked a shock far greater than the twin oil crises of the 1970s and the turmoil from the war in Ukraine combined. US-Israeli Operation Epic Fury has entered its fourth week, and emerging from the fog of war is the understanding that 44 energy assets across the Gulf region have...

WTI Extends Losses After Biggest Crude Build In 3 Years Oil prices are sliding this morning following as an over-supplied market (API reported a huge 11.4mm barrel build last week) beats the geopolitical risk premia (with the US poised to attack Iran). "Iran, rather than backing down and agreeing to all and any term [U.S. President Trump] is placing on the table (as he had expected), is instead daring him to attack. "Just you try it and you will see what you will get!" is kind of what Iran implicitly said...

Iran Hails Deadly Cluster Bomb Attack On Central Israel: 'First Wave Under New Ayatollah' Since the start of Operation Epic Fury against Iran, Israel has suffered some rare mass casualty events and major destruction of sectors of its cities, especially in Tel Aviv. The official death toll stands at eleven civilians killed, and dozens wounded and injured; while Israel's military just suffered two troop deaths in southern Lebanon. The most devastating single incident was when nine people were killed in an Iranian missile strike on Beit Shemesh near Jerusalem on March 1,...