Trump’s Kharg Island Fantasy… All Bark, No Bite

Despite Record Surge In Subprime Car Loan Originations, US Household Debt Dropped In Q2: First Since COVID Something unprecedented happened in the second quarter: aggregate household debt balances declined by $13 billion, a 0.1% decline from Q1. Balances stood at $18.8 trillion, up $4.6 trillion since the end of 2019, just before the pandemic recession. But the reason why we say it was unprecedented, is that the Q2 drop was the first quarterly decline in total household debt since the second quarter of 2020, when the US economy was gripped...

'Wright Is Wrong': Trump Rejects Energy Secretary's Comment That Gas Prices May Not Drop Under $3 Until 2027 Pain at the pump might not ease up for American consumers until 2027, according to Energy Secretary Chris Wright, who said on April 19 that the price of a regular gallon of gas could stay above $3 for the rest of the year. Wright said a price of $3 per gallon of gas “could happen later this ​year, [but] that might not happen until next year” in an interview that aired on CNN’s...

Once upon a time there was a magical little country named Lebanon. It was created by French imperialists out of the post-World War 1 wreckage of the Ottoman Empire as a mountainous stronghold for Levantine Maronite and Orthodox Christians. Imperial Russia sought to assert its influence as defender of Lebanon’s Christians. The British and French […]