Israeli Strikes Kill at Least Five Palestinians in Gaza

The Strait Of Hormuz Crisis Exposes A Fatal Flaw In Economic Thinking Authored by Kurt Cobb via Resource Insights, Even a 4–5% loss in global energy supply could translate into a comparable drop in economic activity due to energy’s central role in all production. Disruptions in oil and LNG flows through the Strait of Hormuz are already removing a significant share of global energy, with cascading impacts across industries. Rising energy costs trigger widespread knock-on effects—from food and travel to semiconductors—potentially leading to a severe global recession. A priest, an engineer, and an economist are...

Jobless Claims Refuse To Show Any Signs Of AI Jobpocalypse The number of Americans filing for unemployment benefits for the first time fell to 209k last week (below expectations), continuing to show absolutely on signs of any labor market stress... Source: Bloomberg That is basically unchanged since 2021. Continuing jobless claims ticked up modestly but remains below 1.8 million Americans (just off two year lows)... Source: Bloomberg So, despite the tsunami of headlines every day about the AI jobpocalypse, 'hard' data shows no signs of any pain yet (wait until the severance packages run dry)... ...

President Donald Trump said that Vice President JD Vance sent a letter to Iran offering medical assistance. Axios reported that the letter offered to engage in wider discussions with Iran if Tehran was willing to negotiate on its nuclear program.  On Wednesday, the Wall Street Journal reported that Vance sent a letter to the Secretary […]