Biden versus Bastiat

Largest Winemaker In America Turns To Hard Liquor As Young People Drinking Less E. & J. Gallo Winery, the largest wine producer in the United States and the world by volume, has completed a major pivot into hard liquor. The family-owned giant finalized its acquisition of iconic Kentucky bourbon brand Four Roses from Japan’s Kirin Holdings in a deal valued at up to $775 million. The move comes as the U.S. wine industry grapples with steep declines in sales and a generational shift away from traditional wine - especially among...

A New Iran (Military?) Base Case By Michael Every of Rabobank Our central assumption for the Iran war had been that by end the third week of April at latest, the Iranian regime faction willing to make a deal in line with Trump’s tweets would have asserted itself over those who won’t, Hormuz would slowly reopen, and energy markets gradually normalise. As neither the Iranian nor US negotiating teams traveled to Pakistan for the second round of peace talks yesterday, that cannot happen. Our new geopolitical base case is of an extended...

Israeli officials told The New York Times on Thursday that the attack on Iranian facilities linked to the South Pars gas field was coordinated with the US, despite President Trump claiming the US “knew nothing” of the plans to strike the energy infrastructure. The South Pars gas field, shared by Iran and Qatar in the […]