Deja Vu All Over Again: Futures Surge, Oil Tumbles On Iran Deal Optimism, Tech Rally

The US has lost at least six military aircraft during US-Israeli strikes on Iran on Friday and in the operation to retrieve a pilot and a weapons system officer (WSO) who manned the F-15 fighter jet that was shot down over Iranian territory. On the same day the F-15 was shot down, an A-10 attack […]

BofA Sees Customer Gas Spending Jump 16%, But Discretionary Spending Holds Up The national average for 87-octane gasoline has remained above the politically sensitive $4-a-gallon level for two straight weeks after the largest monthly jump in AAA data going back two decades. The fuel shock has Wall Street analysts focused on whether surging pump prices will begin crowding out discretionary spending. Bank of America CFO Alastair Borthwick told analysts on a conference call earlier today that the fuel shock at the pump has not undermined overall consumer strength so far, though...

One of the legacies of Keynesian thought is the belief that war is “good for the economy.” While war may help enable employment, nonetheless, its overall legacy is destructive, and even the jobs war “creates” are economically undesirable.