On The Abiding Mystery Of This 'Lunatic' Fourth Turning

What Causes Stagflation? Authored by Frank Shostak via The Mises Institute, In the late 1960’s Edmund Phelps and Milton Friedman challenged the popular view that there can be a sustainable trade-off between inflation and unemployment. In fact, over time, according to Friedman, expansionary central bank policies set the platform for lower economic growth and a higher rate of inflation (i.e., stagflation). A famous case of stagflation occurred during the 1974-75 period. In March 1975, industrial production fell by nearly 13 percent year-on-year while the yearly growth rate of the consumer price index (CPI) jumped to...

The Pentagon said on Thursday that US forces boarded another tanker in the Indian Ocean that it said was carrying Iranian oil, as the US continues to enforce a blockade against Iran. “Overnight, US forces carried out a maritime interdiction and right-of-visit boarding of the sanctioned stateless vessel M/T Majestic X transporting oil from Iran, […]

Saudi Oil Fleet Increasingly Going 'Dark' Due To Houthi Blockade Via The Cradle Yemen's maritime blockade on Saudi shipping has pushed the kingdom’s crude exports off the radar in the Red Sea, with tankers forced to turn off their tracking signals to avoid attack and every recent cargo loaded at Yanbu sailing "dark," Reuters reported on Wednesday. Saudi export volumes can no longer be independently verified as a result of the increased invisibility, with ship-tracking firms issuing conflicting estimates of the same shipments, figures the International Energy Agency (IEA), OPEC, and traders use to...