US Helicopter Bombs Cargo Ship in the Gulf of Oman

Heat Dome Threatens America's 250th Birthday As Power Grid Crisis Continues A massive heat dome continues to threaten the eastern half of the US, with the Mid-Atlantic and Northeast at the epicenter of the sweltering conditions. The summer heat is already disrupting July 4 celebrations and World Cup matches, while pushing the nation's largest power grid toward crisis mode later this afternoon for the third consecutive day. The annual Independence Day Parade in Washington, DC, set for later today was canceled "due to extreme heat," organizers said in an overnight memo.  Cooling demand will...

A central banker has two lives: the first is spent studying neoclassical money supply mechanics; the second begins when they realize the real world doesn’t work that way.

Oil Explodes To 29-Month Highs After Trump Says "No Deal" With Iran Except Under "Unconditional Surrender" The war has entered its seventh day, but there could be a glimmer of hope for some kind of diplomatic-led offramp as Iranian President Masoud Pezeshkian indicated Friday that several countries have begun mediation efforts to end the war with the United States and Israel, but insists negotiations must confront those who started the conflict. "Some countries have begun mediation efforts. Let’s be clear: we are committed to lasting peace in the region, yet we...