Chapter I. The Panic and Its Genesis: Fluctuations in American Business, 1815–21

Israeli Army Seizing 'Strategic Positions' Deep Into Lebanon, North Of Litani River Within a day after unleashing a devastating flurry of Monday airstrikes on Lebanon, Israeli ground forces have aggressively expanded the theater of operations inside Lebanon, violating a status quo by sending IDF ground troops across the "Yellow Line" which was established at the inception of the ceasefire. Prime Minister Benjamin Netanyahu announced Tuesday that Israel is "intensifying operations" in Lebanon by taking strategic positions deeper into the country with a wave of offensives north of the Litani River. IDF has systematically...

U.S. Waives Jones Act After Iran Gas Field Attack Shortly after Israeli fighter jets struck Iran's upstream oil and natural gas production assets for the first time in Operation Epic Fury, sending WTI futures to $98.5/bbl, the Trump administration appears to have pulled another emergency lever from JPMorgan's six-option playbook we recently outlined: a 60-day Jones Act waiver that allows foreign-flagged ships to transport oil, gas, refined products, fertilizer, and related energy cargoes between US ports to boost domestic energy flows and ensure shipping capacity does not become a bottleneck. Bloomberg...

Wall Street Set For Largest Bonuses In Industry History This Year New York's financial industry is enjoying an extraordinary earnings boom, with profits potentially topping $90 billion this year and setting the stage for the biggest round of Wall Street bonuses on record, according to Bloomberg. According to a new analysis from State Comptroller Thomas DiNapoli, securities firms generated more money during the opening six months of 2026 than in any comparable period previously recorded. If that performance continues, the industry could blow past its $65.1 billion earnings record from 2025. Much...