PODCAST: Why This Recession is Different

From Leverage To Liability: The Hormuz Strait Is Now Iran's Biggest Weakness Authored by Daniel Lacalle, For half a century, the Strait of Hormuz was Iran’s weapon. Today, it is its noose. The mathematics of energy have flipped, and with them the balance of coercive power in the Persian Gulf. Iran’s implicit deterrent was geographic, spanning from the tanker wars of the 1980s to the sanctions standoffs of the 2010s. Almost 20% of global seaborne oil, and a similar share of liquefied natural gas, passes through the Strait. The formula was simple:...

Imminent SpaceX IPO Filing Ignites Rally Across Space-Linked Stocks News that SpaceX may file an initial public offering prospectus with the Securities and Exchange Commission this week or next sparked a rally across SpaceX-linked names, satellite broadband providers, space transportation firms, and even publicly traded closed-end funds that hold private SpaceX shares. The Information reports that SpaceX is set to file an IPO prospectus with the SEC this week or next, with plans for shares to begin trading on U.S. exchanges sometime in June. Wall Street advisers expect the offering to...

Dubai Crackdown Hits Iran's Economic Lifeline, Squeezes IRGC Networks By Negar Mojtahedi of Iran International The arrest of dozens of IRGC-linked money changers in the United Arab Emirates is one of the most serious blows yet to Tehran’s sanctions-evasion network, laying bare how heavily the Islamic Republic has depended on Dubai as an economic lifeline. Sources familiar with the matter told Iran International that UAE authorities detained dozens of money changers tied to financial entities linked to Iran’s Revolutionary Guards, shut down associated companies and closed their offices. The crackdown follows days of...