Despite Crazy Revisions, Consumer Confidence Rebounds From January's Doom

New Ayatollah's First Message: Hormuz Strait Stays Closed, Warns 'More Fronts' Could Open Summary: Bloomberg: Trump admin set to temporarily suspend Jones Act shipping rules to help cool rising oil prices. Ayatollah Mojtaba in first public message says the closure of the Strait of Hormuz should be continued as a tool to pressure the enemy Mojtaba vows to keep attacking US bases, and signals 'new fronts' could soon open President Trump simultaneously says the US is stopping Iran "from having Nuclear weapons" and "destroying" the Middle East and "the World". Shipping turmoil escalates as multiple vessels...

No THAC0 Tuesday By Michael Every of Rabobank No TACO And No THAC0 The Global Daily yesterday noted lots of reasons to worry about this Gulf War 3 - today there are far more. However, as made clear since the start of this crisis, there is no way to say, “This is silly,” or to ‘go home’ and return to ‘normality’. Everyone in the war except the US *is* at home. Israel is targeting Iran’s leaders and PM Netanyahu says the country is only “over halfway” to its war goals, with no timeline...