Is The Iran War Good For The Petrodollar?

"The Same Monstrous Theme... Collectivism" Authored by Toni (@ToniLL22) via X, Ayn Rand was right when she wrote these words, and she is still right now. “Fascism, Nazism, Communism and Socialism are only superficial variations of the same monstrous theme: collectivism.” That is the part too many people refuse to understand. These systems may use different slogans. They may wave different flags. They may promise different futures. One may speak in the language of nationalism, another in the language of equality, another in the language of compassion, another in the language of revolution. But underneath the...

"Pushed Into Poverty": Somalia’s Currency Crisis Leaves Traders Holding Worthless Cash For decades, Muse Omar Jama made a living swapping currencies in Mogadishu’s Bakara market, where customers once lined up to trade Somali shillings for dollars and mobile money. Now his office sits mostly silent, and the safes around him are stuffed with cash no one wants, according to The Guardian. The problem began when traders in Somalia stopped accepting worn-out shilling notes, saying the bills were too damaged to use. The boycott quickly spread to shops, buses, and businesses across the...

Jobless Claims Hover Near Record Lows Sustaining 'No Hire, No Fire' Narrative The number of Americans filing for unemployment benefits for the first time was flat from the prior week at 210.5k (215k exp). Simply put, these numbers are hovering near their lowest levels since 1969... Source: Bloomberg Continuing claims also printed below expectations at 1.819 million Americans. This is the lowest level since May 2024... Source: Bloomberg Finally, as a reminder, sentiment surveys suggest the labor market is bifurcated with 'jobs hard to get' but joblessness not surging... Source: Bloomberg That chart reinforces the 'no...