Iran To Attack Logistical Hubs In Israel, Gulf After Its Tallest Bridge Destroyed

Italy's Anti-Israel Opposition Declares 'Victory' After Meloni Suspends Defense Pact Italy has suspended the automatic renewal of its defense agreement with Israel amid the ongoing US-Israeli war on Iran, now 'paused' as a two-week ceasefire holds in order to give a chance for talks. Prime Minister Giorgia Meloni announced the significant status change following weeks of tensions over the Israel question, and after other European governments like Spain and France have heaped criticism on Trump's Operation Epic Fury. "The government, considering the situation we are experiencing, has decided to suspend the...

Disturbing "Five Nights At Epstein's" Online Game Spreads Rapidly Through Classrooms A disturbing browser game called Five Nights at Epstein’s is spreading in schools, with students playing it during class and sharing videos online, according to Bloomberg. In the game, players take on the role of victims trapped on Jeffrey Epstein’s island, trying to survive five nights by avoiding assault. Its popularity has been fueled by social media, where clips of students playing have drawn large audiences and, in some cases, even demonstrate how to bypass school restrictions. The game’s accessibility...

Global Demand Destruction: Subsidies, Empty Gas Stations, Rationing, Flight Cancelations, Export Limits, Price Controls In the past two weeks we have discussed demand destruction as a result of soaring oil prices (here and here), and we are increasingly seeing anecdotal evidence of just that (here is a table from Goldman we showed previously, laying out where demand destruction is most acute). We start, as always, with Asia which has emerged as ground zero of the global energy crisis - as a reminder last week we first presented a map by JPMorgan's...