Of The Elite, By The Elite, For The Elite

Race To Reopen Hormuz Intensifies As Global Supply Chain Stress Remains At COVID Levels The latest Bloomberg data show that shipping transits through the Strait of Hormuz remained largely disrupted Monday morning, even as Iran and Oman reportedly moved closer to a deal. Brent crude futures traded near $85 a barrel as markets priced in the possibility that a deal to reopen the maritime chokepoint could be imminent. Yet global supply-chain stress remains near its highest level since the pandemic, and any normalization could take months, even if shipping traffic resumes. UBS...

Brent Tops $102 As Mideast Conflict Intensifies, HSBC Hikes Oil Forecast Brent crude futures traded above $102 a barrel Thursday morning after Iran threatened to intensify attacks, renewing concerns over tanker flows through the Hormuz maritime chokepoint. The supply risk extends well beyond crude to mounting shortages of refined products, particularly diesel, as the US diesel crack spread trades around $102 a barrel. President Trump's indication yesterday that the conflict could continue beyond November's midterm elections suggests limited near-term fuel pump relief for working-class folks, with the US national gasoline...

Japan's Keynesian Mirage: How Debt, Inflation, & A Collapsing Yen Expose A Failed Model Authored by Daniel Lacalle, Japan’s yen crisis exposes the long‑running failure of the Keynesian strategy that has dominated the country’s economic policy: chronic deficits, exploding public debt, and engineered inflation are now eroding Japan’s purchasing power, competitiveness, and monetary stability. For decades, many mainstream analysts pointed to Japan as proof that a rich, “monetarily sovereign” country could keep an extremely high public debt without relevant consequences. The argument was simple: as long as the state can issue its currency, it...