With the west Asian war having drawn to an at least temporary conclusion, all sides are declaring victory. If indeed the ceasefire holds, they will all be justified in so doing. If not, none will.
One can imagine benign explanations. I thought some kind of deal was in the works myself, not only because it was “TACO Tuesday” but also because Trump’s threat was so incredibly apocalyptic, that to dare to follow through would have been unthinkable. But I wasn’t so sure that I would have bet the farm on it. Somebody either had brass balls or inside information.
So the cease fire is cracking due to continued attacks on Lebanon. Vance says Lebanon was never included in the cease fire agreement. But why get bogged down in he-said-she-said? You’re still handing the Iranians an excuse to keep firing and keep a tight grip on Hormuz. If this stuff is important – and it sure is – you don’t let technicalities get in the way. Let cease fire mean cease fire.
NATO? Less talk, more action. Just exit. Exactly what purpose does it serve? Does anyone really believe that without a formal document, that the US would not come to the aid of England, France, Germany, Italy, Poland … ? It didn’t need it in WWII. And it didn’t need it in Ukraine, despite the fact that Ukraine was NOT a member of NATO. To the contrary, ambitions to expand NATO into Ukraine arguably provoked the war.
And it’s not as if that’s unconnected with the front in Iran. Russia has influence with Iran. Better relations with Russia might even have helped prevent this war. And then there’s North Korea … is it possible enmity with Russia isn’t much more than old habit and entrenched interests, and that treating it as an enemy is at least partly self-fulfilling?
North Sea oil prices have surged to a record high as Donald Trump accused Iran of breaching a deal to reopen the Strait of Hormuz.
The price of cargoes of oil produced off the coast of the UK surged to nearly $147 per barrel as traders rushed to secure supplies.
Forties Blend, which is used as a benchmark for North Sea oil immediately ready for delivery, climbed above highs last seen on the eve of the 2008 financial crisis.
North Sea oil has more than doubled in price from around $60 a barrel at the start of the year. It has far outstripped the price of Brent crude, which traded at about $97 on Friday morning.
NATO is the worlds most effective military, it is essentially impossible to defeat. And we run it, literally commanding the troops of the other members. Unless we are proposing eliminating our armed forces, logic tells us this arrangement is the best military we can have. No ad-hoc or last-minute alliance is comparable, because the armies train together constantly with compatible hardware, tactics and policies. The US ability to project power globally requires the dozens and dozens of bases our NATO partners let us use. Leaving NATO throws away the trillions of dollars we have spent building it.
Half-term flights risk being cancelled as Europe’s airports face running out of jet fuel within weeks.
Airports on the Continent have told the EU that their kerosene stocks will run dry within three weeks unless supplies from the Middle East increase dramatically.
Shortages risk leading to flight cancellations and price rises for passengers at one of the busiest times of year for air travel. Millions of Britons fly to Europe each year, with Spain, France and Italy the top three destinations.
Markets appear to agree, giving a thumbs up to this latest turn in strategy. Oil prices are indeed higher, but stocks are only down a bit, US stocks actually up a bit. Gold is down markedly while US Treasuries are down slightly and the USD is higher versus other currencies. COMT is up sharply. Remarkable considering the collapse of peace talks.
My conjecture is that the positive response is due to the more benign cost benefit proposition of emphasizing economic pressure over loss of life and vital infrastructure, neutralizing Iran’s chokehold on the global economy, with renewed focus on the core objective of preventing nuclear war.
Trump now sez He bigger than the Pope.
I see we lost 20% of production, US might be able to make up to 5% thus we down 15%. Now given time new production can be brought online thus in 3-5 years we be back……….may be.
Please correct me if am wrong but:-
Middle East producers in the 70s cut production in response to War with Israel.
They then enjoyed a lovely price rise though the mid to late 70s.
Other oil production was found
Prices collapsed in the early 80s taking inflation with it.
Aye, even in the worst case scenario of Iran mantaining a tight grip on Hormuz, workarounds would eventually emerge. More pipelines like trans-Saudi. Venezuela production will gradually come on line. Removing sanctions on Russia could free up a lot of oil and gas.
As expected its Diesel, that’s hit the buffers 1st. I must say i am surprised to see its Oz that won this race. I had had very high hopes for dear old blighty on this one, may be we can do better on Jet fuel 😉
Oz government has modelled the crisis & they got 6 months before rationing is required IF their imports fall by 20%. Well Sport i think its likely to fall a hell of a lot more than that.
Meantime back in dear old blighty the government is having “Fun” with Russia. It seem the PM “Floated” the ideal of boarding Russian flagged ships & stealing their cargo. This brainwave was sunk when Russian submarines started making a lot of noise over Britain’s pipeline & undersea cables.
The government GOT the message.
The economy is slowing rapidly now, as i said before they had almost zero growth for the last year……….now they have zero growth just before this Oil war kicked off.
General Winter:-So often in the past Russia winter has come to her aid……….& so it is once more. Russia Gas contracts end in 2027, the gas exporting plants built by the British in the middle east are a smoking creator & they will not be able to stock up before winter………
Mega’s Dispatch from England:- Beyond the Thunderdome?/2
Update, it seems the IMF has DOWNGRADED dear old blighty, we are to be WORSE effective by the Iran Oil war………….growth 0.7% down from 1.3%……….l think it be less
My Cup runth over.
I see a swiss bank is saying GOLD $6,000 this year………..fingers crossed
Eff the IMF. As if we would never have guessed higher oil prices would stress an economy. Plus most of what government and financial institutions refer to as growth is really just inflation. Growth in consumer prices lol.
Less energy though is a real cutback. And though not equally, all economies will be affected. Main thing far as the financial system goes is there is no policy remedy. Central banks can only control the supply of currency, not natural resources. The only thing governments can do is stop the supply cuts at the source.
Prices-wise, war is a double whammy. First you get real price increases due to less supply, and second you get more price increases due to the spending being financed with easy money.
🇪🇺 Europe has only six weeks left of jet fuel left
International Energy Agency chief says that Europe has ‘maybe six weeks’ of jet fuel left, says current shock is ‘the largest energy crisis we have ever faced’, according to AP report.
Oh Bugger
Every time i think “This is it” it turns to sh1t.
We where weeks away from Jet fuel/Diesel collaspe…………..Dam you Trump!
I was hopeful for a full 6 months but now he bales!
I still think the worst is over, but there are mixed signals. Trump says the blockade remains in effect and Iran’s frozen funds will remain frozen. Puzzling. You’d think a token of good will would be more productive. To the contrary, it would hand Iran a rationale to reclose Hormuz. It’s not as if the US Navy would have to physically exit the area to permit shipping traffic.
But the incentive to bring this ugly epic to an end is strong for all sides, so there are grounds for optimism on the peace front. There are also grounds for concern on the economic front. Price pressures are not going away. FWIW I’m only modestly below my neutral allocations on stocks and gold (VT & IAU), but maintaining the broad commodities (COMT) overweight.
Mega’s Dispatch from England:- Land of confusion
As am typing this it seems the SOH is closed once more. I fear i did entertain the idea that somewhere some level headed person might be trying to pull this mess out of the fire.
It seems not.
Well here in blighty the hammer blow has not struck as yet, very much “Phoney war” phase of things. Indeed we had a number of government ministers on the usral outlets saying that “Tis but a flesh wound” . The somewhat troubling truth is the clock is running.
Europe is out of Jet fuel in 4-6 weeks & suddenly things like C02 is making the news. Tarmac for road repairs will be next. Given the Trump Tariff shocks + this little dust up an recession is all but baked in…………….an Long closure of the SOH will ensure a depression.
Europe got bugger all warning to Trumps Iran attack thus no time to prep for it. Given their already depleted stocks because of their misadventure in Ukraine & that Russia ends its Gas contract in 2027 means a cold dark winter is coming.
One of the 1st target’s to get hit was Blighty’s Gas production termals in Qatar. Iran blew it good (sure Russia was pleased). 100% owned by the West its loss means so much more than cost…..no gas for storage for the winter.
Meantime the Bevis & Butthead of Euroland (Britain & France) are sending a major naval taskforce to “Police the ceasefire”. What the F**k are you going to do guys if Iran turns on you?
I mean the US navy had to do a runner, the vastly better than you jecks …….Oh and Russian would be delighted to see a few of your ships sent to the bottom.
So, much still to play out………….Gold going to have a rough ride but when the inflation hits it should rocket baby.
You could almost see the Jaws of Hormuz snapping shut again. I did. The real head scratcher is WTF was Trump et al thinking. He was starting to look like genius for a minute there. But much more of this and his party’s fate this fall is sealed. It was already behind the 8 Ball due to the Obamacare tax credit snafu, and they’ve done themselves no favors since. Including congressional bungling of the SAVE act.
Instead we get a make the MIC rich act and unnecessary death and destruction.
Mega’s Dispatch from England:- Sunday update
Well i thought i cast the net a bit closer to Europe on this one. It seems the Eurobastards are almost out of fighting stock in Ukraine. Either killed, missing bits off them or just unable to do much.
There is however another source of fresh blood, those whom did a runner. 1st of all these guys are the smartest. I recall my tec drawing teacher at school was any American. He came from one of the Southern states where he was informed that he “Won” an all expenses paid trip to spend a year or so exploring lovely Southeast Asia.
The locals were very keen for him to go as they thought his dark skin might be an advantage in the Jungle. He very wisely made a risk assessment that the VC might try a surprise attack in er……Liverpool.
He married here had children & had NO intention of EVERY returning to the US…… PERIOD!
Well it seems around half a million Ukrainian men of fighting age have done the same thing. They gone to Poland or Germany or France etc……….well it seems they about to get recalled!
Yes off to fight the Big Bad Bear. France is collecting 40,000 & so are the other Euro nations.
Once these guys get killed i wonder wot’s next…………….Oh yes they going to ask their own young men to fight…………& by God they will……….they fight THEM!
🇳🇱 Europe can’t take it anymore, energy crisis plan activated in the Netherlands
Following the global rise in fuel prices, the Netherlands is activating its energy crisis plan for the first time.
The Netherlands drafted this plan in 2022 during the energy crisis caused by the Russia-Ukraine war.
The Dutch government will activate the first phase of the energy crisis plan starting Monday, monitoring disruptions in fuel supply and preparing the industrial sector for immediate fuel shortages.
Readers know that I’ve long maintained that the huge rise in asset prices over recent years represents rampant inflation. The possible outcomes were limited; either asset prices come back down or consumer prices rise to meet them. Or some messy combination of both.
Media frame these increases in commodity and consumer prices as the cause of incoming inflation. I adamantly disagree. The inflation has already happened. The war is not its cause, but merely the catalyst that triggers its move from asset prices to consumer prices. Years of easy money caused the inflation.
Likewise agreed. This is worth an article of its own, and it’s about time for a new one anyway. I’ve just had a few too many other demands on my time to do it justice yet.
I don’t know how you feel about Sir Starmer (or maybe I do;-), but I wouldn’t miss him. Like its across the pond counterpart, your Blighty has awesome potential and its government is holding it back.
He a joke of a PM, but we had a run of Joke PMs.
The Most taxed nation in the G7 we were grading to a holt, the British ecom driven by EVERY rising house prices.
That’s run its course & then we had this blow………the only way is down baby.
Alas I know only too well … look at what we have had to put up with. Kennedy and Reagan were the only presidents in decades we could call great. Trump had great potential, but after promising to MAGA and fixing the immigration problem he turned his focus on the rest of the world, whiffed on badly needed Federal Reserve, Social Security and Medicare reform, and further complexified a tax code begging for the opposite.
Not that Congress has been exemplary. And it’s not like England doesn’t have the right stuff. This is the civilization that produced the Magna Carta, Isaac Newton, the Industrial Revolution, the Beatles, Fawlty Towers and Doc Martin. America has this awesome technology industry, but it’s mostly self serving. The problems seem the same all over. Government gets bigger and more complicated, and the elites harness it for their own enrichment.
The UK has limited direct reliance on UAE natural gas, receiving most imports from Norway, the US, and domestic production. However, regional instability, such as strikes affecting Middle Eastern facilities, significantly spikes UK gas prices. The UAE remains a major UK trade partner, with joint ventures focusing on regional energy development
🇺🇸🇮🇷 Huge amount of US airforce activity heading into the Middle East today
U.S. military cargo flights have also seen a large surge when compared to before the war. In the two weeks leading up to the war (Feb 14–28), 542 cargo flights were tracked heading to the region.
Meanwhile, during the ceasefire (Apr 8–21), 819 cargo flights were tracked throughout the region, with the majority landing in the Middle East.
🇺🇸🇮🇷 Calls from Iran for everyone to leave Qatar, UAE, Bahrain, UAE, Saudi Arabia and Kuwait IMMEDIATELY
Iranian professor Mohammad Marandi, who was a member of the Iranian negotiating team calls everyone must leave the UAE, Qatar, Bahrain, Saudi Arabia, and Kuwait immediately.
Sailors on all ships in the Persian Gulf must also prepare to abandon their ships.
“This is especially urgent for ships near the Strait of Hormuz, which will be the first to be destroyed. Time is running out.” – he announced
That is when illusions fade, hoarding begins and fear takes over, setting off a chain reaction that becomes hard to control. At the current daily rate of loss, usable buffers will face exhaustion by May 10 or thereabouts.
“We are entering the red zone of supply losses. You can forget about your summer holidays,” said Amena Bakr, head of Middle East and Opec research at the energy intelligence firm Kpler.
“I have been telling European politicians to stop panicking. There is more than enough new LNG reaching the market from the US and all over the world,” said Prof Alan Riley, an energy fellow at the Atlantic Council.
The bad news is that we are living in the la-la land of complacency over mounting global shortages of crude, jet fuel, refined petroleum, fertilisers, sulphur needed for metal mining, helium needed for semiconductors, and aluminium.
Definitely, unequivocally bad for the economy. Less energy and materials mean belt tightening no matter what fiscal or economic policy.
But what about the investment markets? We can do nothing about “the economy” but do have some influence over our personal economy.
Stocks? The war shouldn’t hurt corporate profits. It might even be a tailwind, as much government spending is corporate revenue. The downside risk comes from a change in the time value of money … higher interest rates mean a higher rate of discount on future earnings. This is what hammered stocks in 2022 and is pressuring them now.
The same factor is pressuring gold and bond prices. The exception is of course broad commodities, especially energy and agriculture, which are under upside pressure from supply cuts. Bottom line is I’m still overweight short term treasuries and commodities and modestly underweight everything else.
For folks who like to dig into balance sheets and size up individual companies, absolutely. Personally I prefer the direct route, especially for a medium term thesis where stocks can get out of sync with commodity prices. COMT or any other broad commodity futures fund. They lock directly into commodity prices so there’s no risk that factors other than commodity prices get in the way.
“Trump said the ceasefire, which he earlier had said would end on Wednesday, would continue “until such time as” Iran’s leaders and representatives submit a “unified proposal” to end the war with the U.S. and Israel.”
Say what? Sounds like a recipe for permanent ceasefire and permanent war.
There is no such thing as “Iran” apart from 636,372 square miles and 92,417,681 people.
Even when speaking of its “leaders”, exactly who or what are they talking about? The Ayatollah and the mullahs, the IRGC, the civilian government … who?
Is it just me? Or is anyone else getting a serious case of déjà vu. Rewind to last year at this time, and inflation was coming too … due to tariffs. Financial media are desperate to blame anyone for inflation besides the outfit that manufactures it, the Fed. Especially if that anyone happens to be the object of establishment hatred, one Donald J Trump.
I’m no fan of this administration’s economic polices, but come on, this is just political scapegoating. Tariffs do not cause inflation. War does not cause inflation. Printing money causes inflation. Or rather, printing money is inflation.
Rising prices don’t cause inflation. Inflation causes rising prices. We’re still waiting for that burst of “inflation” from tariffs. We are getting rising prices from the war, but those rising prices are real, not inflation. They arise from scarcity of real stuff, not abundance of currency.
The media have become apologists for the Fed, blaming inflation on anything but its real source.
BREAKING: The U.S. is deploying minesweepers from Japan to the Middle East
Details:
– Trump announces that the U.S. will sink Iranian boats that lay mines
– High-ranking Iranian officials have stated that any U.S. ship entering the strait will be attacked
– The U.S. Navy appears to be planning a daring operation, amid the resignation of the Secretary of the Navy as a sign of his disapproval of such a move
Here in dear old blighty while all the phone boxes have gone, most of the high street banks going the same way there is one constant that always here. “Aunty” as the BBC is called, home to a dogs dinner of factors but buried deep in its confines is the DEEP state.
Every now and again it sticks its head up, prods the Paedophiles to tow the line, & thus the evening news has been on. More spin than washing machine they now reporting the “Talks” between Iran & America have broken down.
The Bastards bought out a “Tame” Iranian to say how it was ALL Iran’s fault & that the government of Iran is hopelessly split. This is some what at odds at the facts i can see from what has proved to be reliable sources.
So, wot’s a foot?
I suspect we are going to see this false narrative spun more & more…..the “Blame” must go somewhere & Israel/Us is getting downplayed.
I fear “They” are preping the ground for something major…………
Cheers
Mike
Mega’s dispatch from England:- Germany calling!
Well, just after my “BBC” report we have “De Germans” now starting to echo it.
Here is their statement:-
“Iranian regime is ‘humiliating entire nation’, German chancellor says
German Chancellor Friedrich Merz has weighed in on stalling peace talks, saying Iran had “humiliated” the US when it got officials to travel to Pakistan and then leave without results.
Speaking to students in western Germany, Merz said:
“An entire nation is being humiliated by the Iranian leadership, especially by the so-called Revolutionary Guard.”
He added that Iranian leaders are “obviously negotiating very skilfully” and are “clearly stronger than previously thought”.
Laughable but note how he trying to spin the blame.
Mike
There is no humiliation that the US hasn’t inflicted on itself. Strictly inside the box thinking. What if it permanently lifted all sanctions on Russia and found a way to work with China? US and Israel against the world won’t work; the world against Iran would.
Meanwhile you still have the problem of exactly who or what is “Iran”? The moderate elements, the civilian government, can be reasoned with; the mullahs and the IRGC not so much. It is the IRGC that insists on all or nothing, offering the choice of either giving up or destroying it. But destroying the IRGC without inflicting irreparable damage on innocent people would be no easy task.
🇬🇧🇮🇷 Starmer says people they need to start saving because of the war in Iran:
“if the Iran conflict goes on longer then, “people might change their habits, where they go on holiday this year, what they’re buying in the supermarket, that sort of thing.”
Mega’s dispatch from England:- The Moment of truth?
Well it beginning to look like the REAL market is about to show its invisible hand or rather the invisible finger to all the political blowhards.
The British 10 year has broken above 5%, oil trying to burst though $110. Trump is trying the “We won” statements again but its starting to not work. We just heard that the EEC is demanding that Russia remove its Diesel export ban. These are the same bastards whom have spent the last 4 years trying to smash Russia.
British supermarket bosses are now warning that there are going to large price risers net month & some foods might not be available. In short “They” are starting to “Prep” the people that a rough ride is ahead.
The British upper classes are now bitching about Iran. I have a lot of joy reminding them that Iran was ATTACKED, not the attacker! Just like Nasser when he blocked the Suez canal Iran has totally out smarted the West with devastating simplicy.
While Trump impresses the King with his “privately funded” ballroom the UK ticks down to doom. I cant say what will hit 1st or the hardest but time is short & everyone knows it.
Cheers
Mike
His address to Congress was quite good … substantive without being overtly political.
IIRC not that long ago Trump floated the idea of rejoining the Commonwealth … and according to this King Charles may offer it … wonder if there was any talk about that …
… be nice to see Trump building bridges instead of blowing them up …
🇭🇺🇺🇦 Hungary’s prime minister-elect Magyar met with the mayor of Zakarpattia’s Beregovo, Zoltan Beregsash Babyak.
He announced this on Facebook following the meeting, adding that Budapest’s assistance to Zakarpattian Hungarians will continue.
“I am initiating a meeting with Ukrainian President Vladimir Zelensky, symbolically in Beregsash, a city with a Hungarian majority, in early June. The purpose of the meeting is to help the situation of Hungarians in Zakarpattia and their presence in their homeland.
The time has come for Ukraine to end the rights restrictions that have been in place for more than a decade, and for Zakarpattian Hungarians to regain all their cultural, linguistic, administrative and higher education rights, and to once again become equal, respected citizens of Ukraine. This could also help ensure that after the war ends, as many Zakarpattian Hungarians as possible can return to their homeland,” Magyar wrote.
Britain’s borrowing costs have hit their highest level since 1998 as oil prices surged to nearly $120 per barrel.
The yield on 30-year UK gilts – a benchmark for the cost of servicing the national debt – jumped as much as three basis points to 5.72pc on Tuesday, a 27-year high, heaping pressure on Rachel Reeves.
“Oil prices fell Friday after Iran sent an updated peace prososal to mediators in Pakistan, raising hopes again that a settlement with the U.S. is still possible.”
““We’ve already won, but I want to win by a bigger margin,” he said. “But we have. We have destroyed their navy, destroyed their air force, destroyed all of their — if you look at their anti-aircraft equipment, their radar equipment, their leadership, their leadership is destroyed.””
Trump keeps insisting that Iran has no military left. He’s only trashing his own credibility. Regardless of whatever technicalities might colorably support such claims, the fact remains that the IRGC maintains control of the Strait and can still blow things up.
Moreover, destroying its military was not the original justification for the attack nor a valid one. The only such goal was preventing Iran from developing nuclear weapons. That’s not even close to the sane thing as “destroying its military”.
First a couple of caveats. I’m an economist, not a geopolitician. I also get virtually all the information I’m aware of from publicly available and frequently unreliable media.
That said, having carefully observed recent events and the history leading up to them, I have some fact based opinions to share.
It’s clear based on 20-20 hindsight if not having been so since the beginning, it would have been better not to have started this war. The justification is compelling – to prevent the Death to America crowd from attaining the means to carry it out – specifically developing and deploying nuclear weapons, but that this war was the only means to achieve it is far from given. Indeed at the time the attacks began, negotiations had been under way to that end. Furthermore, the risks to life and the global economy were or should have been obvious.
To have started this war was a tragic mistake. The reality of time, as indicated by this Comment’s heading, is however that the question of whether and how to continue it, given where we are today, is very different. There is no “Undo” button that allows us to go back and reverse the original decision.
From where we are right now, there are multiple options. One is simply to pack up and go home. As ugly as the alternative of ongoing war is, this would be even uglier. It would mean leaving a reactionary Islamicist regime with a chokehold on the carotid artery of the global economy and on track to building and using nuclear weapons. “Death to America” could be much more than a slogan. With its extreme destruction and radioactive fallout, any conventional war pales in comparison to nuclear war. And given that the world’s existing nuclear armed powers have since 1945 been too sensible to use them, nuclear proliferation is the single biggest risk factor for nuclear war.
That doesn’t necessarily mean there aren’t more creative alternatives. Iran can only continue to hold its side of the war up with external support. Namely in the form of Russia and China. Unfortunately, America has chosen to make them enemies. Not that they have intrinsically benign intents towards America, but America has been willfully throwing salt onto the wound. It’s very late in the game, but an effort to improve relations with Russia and China could still be a swing factor in Iran.
It’s probably a good thing I’m not in Trump’s shoes, but if I were, I would be spending a lot of time and effort understanding what America could do for them and giving serious consideration to doing it. (Ukraine? Ending sanctions? Trade deals?) As far as Iran specifically goes, I would continue the blockade, but besides just wielding sticks, consider what carrots might help ease the impasse. Monetary or other compensation in exchange for the enriched uranium. It’s transferred to a friendly power such as Russia. Enforceable security guarantees. Rebuilding aid. The all stick and no carrot approach is extremely costly and just giving up potentially even costlier.
Scroll down to the bottom of this article to see a short speech by Donald Trump from a couple years ago. The world would be a different place if this were the Trump in charge today.
I have been saying from the beginning that this is about much more than Iran, and literally for years that the US was making a grave error in not cultivating better relations with Russia. At long last others are beginning to see it. I may not know much about geopolitics, but the neocons calling the shots in Washington know even less.
And as the previously cited speech shows, Trump knew more about it two years ago than he does today. This isn’t America versus Iran; it’s America versus Russia and China.
“As for the IRGC statement about an “impossible” miliary operation, it further indicated that Tehran sent the US military a deadline to end its blockade of Iranian ports. It highlighted that Europe, China and Russia are are increasingly taking a more critical toward Washington’s war.”
“The current Iran-submitted plan now being reviewed at the White House reportedly contains 14 points. A Russian correspondent has said that “Iran is seeking a decisive and permanent end to the conflict with the US, rather than a previously proposed two-month ceasefire” and that it seems a one-month window to end all hostilities.”
Still laughing at the EEC lifting ban on Russian Diesel & DEMANDING they export to them………….while the Green goblin is sinking Russian tankers & hitting oil refinery’s.
“Countries from all over the World, almost all of which are not involved in the Middle Eastern dispute going on so visibly, and violently, for all to see, have asked the United States if we could help free up their Ships, which are locked up in the Strait of Hormuz, on something which they have absolutely nothing to do with – They are merely neutral and innocent bystanders! For the good of Iran, the Middle East, and the United States, we have told these Countries that we will guide their Ships safely out of these restricted Waterways, so that they can freely and ably get on with their business. Again, these are Ships from areas of the World that are not in any way involved with that which is currently taking place in the Middle East. I have told my Representatives to inform them that we will use best efforts to get their Ships and Crews safely out of the Strait. In all cases, they said they will not be returning until the area becomes safe for navigation, and everything else. This process, Project Freedom, will begin Monday morning, Middle East time. I am fully aware that my Representatives are having very positive discussions with the Country of Iran, and that these discussions could lead to something very positive for all. The Ship movement is merely meant to free up people, companies, and Countries that have done absolutely nothing wrong – They are victims of circumstance. This is a Humanitarian gesture on behalf of the United States, Middle Eastern Countries but, in particular, the Country of Iran. Many of these Ships are running low on food, and everything else necessary for largescale crews to stay on board in a healthy and sanitary manner. I think it would go a long way in showing Goodwill on behalf of all of those who have been fighting so strenuously over the last number of months. If, in any way, this Humanitarian process is interfered with, that
interference will, unfortunately, have to be dealt with forcefully.
Thank you for your attention to this matter!”
DONALD J. TRUMP
PRESIDENT OF THE UNITED STATES OF AMERICA
🇺🇸🇮🇷 Doomsday for California as last barrel of oil from the Middle East arrives in Long beach – NY Post
The last California-bound oil tanker to pass through the Strait of Hormuz (since recent conflict/war involving Iran) has arrived at the Port of Long Beach.
It carried about 2 million barrels of crude oil intended for gasoline, diesel, and jet fuel.
This marks the end of routine large shipments from the Middle East to California due to the disruption, exacerbating the state’s energy challenges (California already imports significant oil because of limited domestic production and green-energy policies).
A lot more in the pipeline. Or not in the pipeline, as it were. Typical origin to destination time for shipping from Hormuz is several weeks. So the shutdown at origin is just reaching many destinations around the world.
Then there’s the disruption further downstream. Raw materials to intermediate to final goods … many more weeks. So even if Hormuz went strait open today, there’s still a lot of gap in the supply chain.
Add to the fact that it could be weeks more if not then some before Hormuz opens, the disruption is not even close to over.
The fundamentals are falling into place for Synthetic Systems‘ rough 2026 H2.
“The UK is on the verge of joining the EU’s €90bn (£78bn) loan scheme for Ukraine, as the government seeks to shore up support for Kyiv and deepen defence ties with the bloc.
Prime Minister Sir Keir Starmer has joined European leaders at a gathering in Armenia today where he is expected to say that Britain wants to work with the EU to support Ukraine in its fightback against Russia’s invasion.”
That kind of money could get the fabled North Channel Tunnel off the drawing board.
As i understand it, Ukraine is almost defeated.
“They” wish to start “Brush fires” to soak up Russian resources elsewhere.
The bastards bet EVERYTHING on this war on Russia coming off, it did NOT.
Now we have a very limited time table left. Europe is facing collapse by high summer.
I be writing a MDFE tonight on the subject…………
Mega’s Dispatch from England:-Power to the people…..but which people.
Now that am old (ish) i have had a lifetime to watch the political bulsh1t machine dump on the people at times of need. In my early life i was interduce to “System building”. After WW2 Britain needed to build new homes & large parts of the population where in poor housing or on ever lengthening waiting lists.
Having pissed away vast wealth on things like out Atomic project (Bomb) we where left with a sh1t load of crappy Gas cooled reactors that never worked very well & a LOT of radiation about the place.
True we did get an functional atomic device, but it was somewhat disappointing in the output department. We also managed to have a fire in a reactor that was air cooled (I joke you not) & the fallout covered half the nation………..not that they were quick to tell us that.
Then those bastard Russians & Yanks built Hydrogen bombs & we had to match them or Britian would no longer be a “World power”. We tried & fked up….it was no more powerful that a small A bomb. The Limey’s saw this coming & had a back up plan….”Orange Herold”
It was a BLOODY big A bomb, it used up almost all the fissionable stocks we had but we had to attempt to blag the World (America) we had a H Bomb. The CIA sussed very quickly as did Russians……..Meantime we fallen well behind with our House building plan.
America had loaned & given us money after WW2 to rebuild our homes & we pissed it away on this crap. We of course asked for more & LBJ said “NO”. Rather pissed off by our spending US tax payer money on Lefty projects & the Bomb ….& getting shitty about Vietnam we had problems.
Thus a NEW housing plan was devised.
Rather than that silly high quality brick built homes the then Labour government thought, “Why don’t we build them in factory then ship them to site?” I mean they were build mufti story car parks. Having bugger all idea how to do this they copied the CCCP & Eastern Europe & used Concrete + Steel bar.
The result was a disaster!
Good well built homes as well as bomb damaged or run down houses were flattened. Homes & business were wiped out & the people were given bugger choice in the matter. The pre fab themselves fell apart in no time. Yes you can build car parks this way but not homes.
The Concreate crumbled the steel rods got rusty which in turn burst the concrete apart. The parts came to site having been made badly & didn’t fit. So the site workers simply cut off the location lugs & jammed them in place & mixed concrete with old news paper to fill in any gaps.
Mega’s Dispatch from England:-Power to the people…..but which people/2
Realizing they could have themselves a bit of a problem, rather than stop the project they decided on a major bulsh1t campaign.
The rolled out the projects nation wide & got all the well spoken architects to dream up “New ways of living” (because we can’t afford build good stuff). Given the rough features of Concrete they decided to go for “Brutalist” architecture & pissed all day about le corbusier (a Nazi French asshole). They very much tried to sell this as a “Well your too stupid to get it” if any objection was raised.
They prised it using terms like ” bold, geometric, and often monumental appearance, it prioritizes, utilitarianism over decoration, showcasing raw materials and structural elements”.
Or as anyone would now admit it was grey The style is divisive, often criticized as “cold,” “sinister,” or “impersonal & badly made.
This horse sh1t went on till one morning a little old lady went making a cup of tea when the phone went. She left the gas on & after awhile it found a spark……..BANG
She was high up in a block & the small blast was enough to blown out a wall…….sadly the tower part collapsed, Roland point was a warning.
By the mid 1970’s it was all over, a few scapegoats were found, fined a few set to jail. Then the North sea Oil & Gas came & the “Evil” Margret Thatcher funded the demolition of these disgraceful examples of this bulsh1t & built quality homes people wanted to live in!
So, why am i talking about this..?……………………because it about to start over again in CARS!
Mega’s Dispatch from England:-Power to the people…..but which people/3
Now its the turn of the car……………..we had had this nonsense before. After that rather silly episode with a cannel in Egypt petrol became rather expensive & short in supplies.
Thus a rather good Car manufacturing industry was forced by the powers to be to make a car that would in time totally destroy them. I am of course referring to that disgusting shit box…”The Mini”
Named after the mini skirt it was an attempt to satisfy the growing middle class with car transport. They sold it rather cheaply & Ford was stunned, how were they doing it for the money?…………they bought one, tore it apart & priced every part.
Ford was stunned to find the British were losing a lot on money on each one! The Company making it had no idea it was making it at a loss. The more they made, the more they lost!
But it did cut the require fuel imports…….& thats what they were after.
Mega’s Dispatch from England:-Power to the people…..but which people/4
Here it comes!
Yep, never let a good crisis go to waste, an ill wind etc the powers to back & its the same play book! Just listen to this from Fiat:-
“The exhibition, titled ‘Ciao Futuro!’ presented three automotive ideas, each said to demonstrate Fiat’s “vision for the future of urban mobility as a socially relevant, culturally driven and design-led experience.”
YOUR DESIGNING A CAR MO-FO!
It gets worse:-
“not just a means of transport” but something that “fosters interactions and adapts to the rhythms of small towns”. The project proposes “a more human, shared vision of mobility, where the car becomes an extension of public space, strengthening the sense of community.”
OH FFS!
“The role of the car is changing,” they said. “It is no longer about just moving through the city, but also about how we experience the time between one destination and another. Innovation is not about moving faster, but about stopping better.”
The Real story:- They Fked
Needing REAL money to buy imported fuel the western Euro powers to be have been on the phone to Fiat. “They” can no longer afford to allow the average Pleb to swan about in some SUV the size of the Queen Mary powered by a diesel engine.
Given the average age of the European car is 14 years old they need to swiftly move these FU*KERS on to new metal, mostly electric power. Thus once again the design “Nimrods” are coming out with all this flowerily languish.
They need a small inn-city EV, Fiat has the 500 which is very slow selling, given the need for speed i suspect we see an small boxy 500 based ev very soon. Small motor no more than 25 wh/h battery as light as possible.
Getting back to Iran i think only Vance can save the day.
He got to void what happened to Spiro Agnew & get to the mid terms, after that it should be quite easy to put the skids under Team Trump……Israel might like to do the same to BiBi.
Evelyn Farkas of Arizona State University McCain Institute is just now on Bloomberg TV saying the same thing I have been saying for weeks … engaging China, not just Iran … would go a long way towards resolving this conflict. I would add Russia too.
Hey Mike … totally off topic, but I’m thinking about trading in the old Jaguar (2000 S-Type 4.0) on an AWD SUV. Only two electric options at my local dealer; a used low mileage ’24 Chevy Blazer and a new ’26 Chevy Equinox. The only other choices are new gasoline powered models. Could conceivably nurse the old jalopy along a bit longer, but it’s getting hard to find parts and a mechanic competent to keep it shipshape. An AWD EV would be ideal for my all short trip driving and the local climate. Any thoughts?
With the west Asian war having drawn to an at least temporary conclusion, all sides are declaring victory. If indeed the ceasefire holds, they will all be justified in so doing. If not, none will.
If you squint your eyes it looks a lot like market manipulation for massive insider trading for oil futures and stocks.
On an epic scale!
Where there’s smoke …
Newly created Polymarket accounts bet big on US-Iran ceasefire in hours before Trump’s announcement
… there’s ceasefire?
Trader Makes $23 Million In One Day With Massive S&P Call Purchase Hours Before Ceasefire
One can imagine benign explanations. I thought some kind of deal was in the works myself, not only because it was “TACO Tuesday” but also because Trump’s threat was so incredibly apocalyptic, that to dare to follow through would have been unthinkable. But I wasn’t so sure that I would have bet the farm on it. Somebody either had brass balls or inside information.
If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.
… and there’s a whole lotta quacking’ goin’ on!
So the cease fire is cracking due to continued attacks on Lebanon. Vance says Lebanon was never included in the cease fire agreement. But why get bogged down in he-said-she-said? You’re still handing the Iranians an excuse to keep firing and keep a tight grip on Hormuz. If this stuff is important – and it sure is – you don’t let technicalities get in the way. Let cease fire mean cease fire.
NATO? Less talk, more action. Just exit. Exactly what purpose does it serve? Does anyone really believe that without a formal document, that the US would not come to the aid of England, France, Germany, Italy, Poland … ? It didn’t need it in WWII. And it didn’t need it in Ukraine, despite the fact that Ukraine was NOT a member of NATO. To the contrary, ambitions to expand NATO into Ukraine arguably provoked the war.
And it’s not as if that’s unconnected with the front in Iran. Russia has influence with Iran. Better relations with Russia might even have helped prevent this war. And then there’s North Korea … is it possible enmity with Russia isn’t much more than old habit and entrenched interests, and that treating it as an enemy is at least partly self-fulfilling?
North Sea oil prices have surged to a record high as Donald Trump accused Iran of breaching a deal to reopen the Strait of Hormuz.
The price of cargoes of oil produced off the coast of the UK surged to nearly $147 per barrel as traders rushed to secure supplies.
Forties Blend, which is used as a benchmark for North Sea oil immediately ready for delivery, climbed above highs last seen on the eve of the 2008 financial crisis.
North Sea oil has more than doubled in price from around $60 a barrel at the start of the year. It has far outstripped the price of Brent crude, which traded at about $97 on Friday morning.
NATO is the worlds most effective military, it is essentially impossible to defeat. And we run it, literally commanding the troops of the other members. Unless we are proposing eliminating our armed forces, logic tells us this arrangement is the best military we can have. No ad-hoc or last-minute alliance is comparable, because the armies train together constantly with compatible hardware, tactics and policies. The US ability to project power globally requires the dozens and dozens of bases our NATO partners let us use. Leaving NATO throws away the trillions of dollars we have spent building it.
Half-term flights risk being cancelled as Europe’s airports face running out of jet fuel within weeks.
Airports on the Continent have told the EU that their kerosene stocks will run dry within three weeks unless supplies from the Middle East increase dramatically.
Shortages risk leading to flight cancellations and price rises for passengers at one of the busiest times of year for air travel. Millions of Britons fly to Europe each year, with Spain, France and Italy the top three destinations.
Thanks for sharing this useful information.
Thank you for yours too.
Oil prices surge on Trump’s blockade vow, failed US.-Iran talks
Iran will ‘implode’ with blockade – Brooks
Brilliant. It beats civilizational erasure, though will likely boost oil prices even more than Hormuz closure alone.
Markets appear to agree, giving a thumbs up to this latest turn in strategy. Oil prices are indeed higher, but stocks are only down a bit, US stocks actually up a bit. Gold is down markedly while US Treasuries are down slightly and the USD is higher versus other currencies. COMT is up sharply. Remarkable considering the collapse of peace talks.
My conjecture is that the positive response is due to the more benign cost benefit proposition of emphasizing economic pressure over loss of life and vital infrastructure, neutralizing Iran’s chokehold on the global economy, with renewed focus on the core objective of preventing nuclear war.
it took 70 years for the USSR to fall……………….
Trump now sez He bigger than the Pope.
I see we lost 20% of production, US might be able to make up to 5% thus we down 15%. Now given time new production can be brought online thus in 3-5 years we be back……….may be.
Please correct me if am wrong but:-
Middle East producers in the 70s cut production in response to War with Israel.
They then enjoyed a lovely price rise though the mid to late 70s.
Other oil production was found
Prices collapsed in the early 80s taking inflation with it.
Thus Gold stopped climbing
WE NEED to THINK about this.
Mike
Aye, even in the worst case scenario of Iran mantaining a tight grip on Hormuz, workarounds would eventually emerge. More pipelines like trans-Saudi. Venezuela production will gradually come on line. Removing sanctions on Russia could free up a lot of oil and gas.
Financology Commenting Guidelines
Mega’s Dispatch from England:- Beyond the Thunderdome?
G,Day Sports seems things are getting VERY Mad Max down under right now.
https://www.telegraph.co.uk/business/2026/04/14/australias-diesel-guzzling-economy-suffers-fuel-pumps-dry/
As expected its Diesel, that’s hit the buffers 1st. I must say i am surprised to see its Oz that won this race. I had had very high hopes for dear old blighty on this one, may be we can do better on Jet fuel 😉
Oz government has modelled the crisis & they got 6 months before rationing is required IF their imports fall by 20%. Well Sport i think its likely to fall a hell of a lot more than that.
Meantime back in dear old blighty the government is having “Fun” with Russia. It seem the PM “Floated” the ideal of boarding Russian flagged ships & stealing their cargo. This brainwave was sunk when Russian submarines started making a lot of noise over Britain’s pipeline & undersea cables.
The government GOT the message.
The economy is slowing rapidly now, as i said before they had almost zero growth for the last year……….now they have zero growth just before this Oil war kicked off.
General Winter:-So often in the past Russia winter has come to her aid……….& so it is once more. Russia Gas contracts end in 2027, the gas exporting plants built by the British in the middle east are a smoking creator & they will not be able to stock up before winter………
Oh Dear.
Mike
Mega’s Dispatch from England:- Beyond the Thunderdome?/2
Update, it seems the IMF has DOWNGRADED dear old blighty, we are to be WORSE effective by the Iran Oil war………….growth 0.7% down from 1.3%……….l think it be less
My Cup runth over.
I see a swiss bank is saying GOLD $6,000 this year………..fingers crossed
Eff the IMF. As if we would never have guessed higher oil prices would stress an economy. Plus most of what government and financial institutions refer to as growth is really just inflation. Growth in consumer prices lol.
Less energy though is a real cutback. And though not equally, all economies will be affected. Main thing far as the financial system goes is there is no policy remedy. Central banks can only control the supply of currency, not natural resources. The only thing governments can do is stop the supply cuts at the source.
Prices-wise, war is a double whammy. First you get real price increases due to less supply, and second you get more price increases due to the spending being financed with easy money.
🇪🇺 Europe has only six weeks left of jet fuel left
International Energy Agency chief says that Europe has ‘maybe six weeks’ of jet fuel left, says current shock is ‘the largest energy crisis we have ever faced’, according to AP report.
Yo………………..HEADS UP
Looks like the war is over, Gold going up faster than an Iranian rocket.
Mike
Oh Bugger
Every time i think “This is it” it turns to sh1t.
We where weeks away from Jet fuel/Diesel collaspe…………..Dam you Trump!
I was hopeful for a full 6 months but now he bales!
Mike
…………..or does he?
France & Blighty are going to “Police” the area…………..Ho Ho Ho
Got Popcorn?
I still think the worst is over, but there are mixed signals. Trump says the blockade remains in effect and Iran’s frozen funds will remain frozen. Puzzling. You’d think a token of good will would be more productive. To the contrary, it would hand Iran a rationale to reclose Hormuz. It’s not as if the US Navy would have to physically exit the area to permit shipping traffic.
But the incentive to bring this ugly epic to an end is strong for all sides, so there are grounds for optimism on the peace front. There are also grounds for concern on the economic front. Price pressures are not going away. FWIW I’m only modestly below my neutral allocations on stocks and gold (VT & IAU), but maintaining the broad commodities (COMT) overweight.
Btw please continue to direct comments on the wars in Ukraine and Iran to this thread.
Will Do
MDFE torrow
👍
Mega’s Dispatch from England:- Land of confusion
As am typing this it seems the SOH is closed once more. I fear i did entertain the idea that somewhere some level headed person might be trying to pull this mess out of the fire.
It seems not.
Well here in blighty the hammer blow has not struck as yet, very much “Phoney war” phase of things. Indeed we had a number of government ministers on the usral outlets saying that “Tis but a flesh wound” . The somewhat troubling truth is the clock is running.
Europe is out of Jet fuel in 4-6 weeks & suddenly things like C02 is making the news. Tarmac for road repairs will be next. Given the Trump Tariff shocks + this little dust up an recession is all but baked in…………….an Long closure of the SOH will ensure a depression.
Europe got bugger all warning to Trumps Iran attack thus no time to prep for it. Given their already depleted stocks because of their misadventure in Ukraine & that Russia ends its Gas contract in 2027 means a cold dark winter is coming.
One of the 1st target’s to get hit was Blighty’s Gas production termals in Qatar. Iran blew it good (sure Russia was pleased). 100% owned by the West its loss means so much more than cost…..no gas for storage for the winter.
Meantime the Bevis & Butthead of Euroland (Britain & France) are sending a major naval taskforce to “Police the ceasefire”. What the F**k are you going to do guys if Iran turns on you?
I mean the US navy had to do a runner, the vastly better than you jecks …….Oh and Russian would be delighted to see a few of your ships sent to the bottom.
So, much still to play out………….Gold going to have a rough ride but when the inflation hits it should rocket baby.
Must go
Mike
Always appreciate your classic MDFEs👍
You could almost see the Jaws of Hormuz snapping shut again. I did. The real head scratcher is WTF was Trump et al thinking. He was starting to look like genius for a minute there. But much more of this and his party’s fate this fall is sealed. It was already behind the 8 Ball due to the Obamacare tax credit snafu, and they’ve done themselves no favors since. Including congressional bungling of the SAVE act.
Instead we get a make the MIC rich act and unnecessary death and destruction.
Mega’s Dispatch from England:- Sunday update
Well i thought i cast the net a bit closer to Europe on this one. It seems the Eurobastards are almost out of fighting stock in Ukraine. Either killed, missing bits off them or just unable to do much.
There is however another source of fresh blood, those whom did a runner. 1st of all these guys are the smartest. I recall my tec drawing teacher at school was any American. He came from one of the Southern states where he was informed that he “Won” an all expenses paid trip to spend a year or so exploring lovely Southeast Asia.
The locals were very keen for him to go as they thought his dark skin might be an advantage in the Jungle. He very wisely made a risk assessment that the VC might try a surprise attack in er……Liverpool.
He married here had children & had NO intention of EVERY returning to the US…… PERIOD!
Well it seems around half a million Ukrainian men of fighting age have done the same thing. They gone to Poland or Germany or France etc……….well it seems they about to get recalled!
Yes off to fight the Big Bad Bear. France is collecting 40,000 & so are the other Euro nations.
Once these guys get killed i wonder wot’s next…………….Oh yes they going to ask their own young men to fight…………& by God they will……….they fight THEM!
Must go shopping
Cheers
Mike
🇳🇱 Europe can’t take it anymore, energy crisis plan activated in the Netherlands
Following the global rise in fuel prices, the Netherlands is activating its energy crisis plan for the first time.
The Netherlands drafted this plan in 2022 during the energy crisis caused by the Russia-Ukraine war.
The Dutch government will activate the first phase of the energy crisis plan starting Monday, monitoring disruptions in fuel supply and preparing the industrial sector for immediate fuel shortages.
It won’t be evenly distributed, but everything everywhere is about to get scarcer and expensiver.
“It won’t be evenly distributed, but everything everywhere is about to get scarcer and expensiver.”
Indeed………………not much happening right now
Right now not looking good……………….
Readers know that I’ve long maintained that the huge rise in asset prices over recent years represents rampant inflation. The possible outcomes were limited; either asset prices come back down or consumer prices rise to meet them. Or some messy combination of both.
Media frame these increases in commodity and consumer prices as the cause of incoming inflation. I adamantly disagree. The inflation has already happened. The war is not its cause, but merely the catalyst that triggers its move from asset prices to consumer prices. Years of easy money caused the inflation.
Agreed, i go further…………..they want this “WAR” as a cover for the inflation THEY have produced. Dot com crash, banking crash, Covid….etc.
Meantime here in Blighty
https://www.zerohedge.com/political/uk-pm-starmer-faces-judgment-day-over-epstein-pal-mandelsons-appointment
Mike
Likewise agreed. This is worth an article of its own, and it’s about time for a new one anyway. I’ve just had a few too many other demands on my time to do it justice yet.
I don’t know how you feel about Sir Starmer (or maybe I do;-), but I wouldn’t miss him. Like its across the pond counterpart, your Blighty has awesome potential and its government is holding it back.
He a joke of a PM, but we had a run of Joke PMs.
The Most taxed nation in the G7 we were grading to a holt, the British ecom driven by EVERY rising house prices.
That’s run its course & then we had this blow………the only way is down baby.
Alas I know only too well … look at what we have had to put up with. Kennedy and Reagan were the only presidents in decades we could call great. Trump had great potential, but after promising to MAGA and fixing the immigration problem he turned his focus on the rest of the world, whiffed on badly needed Federal Reserve, Social Security and Medicare reform, and further complexified a tax code begging for the opposite.
Not that Congress has been exemplary. And it’s not like England doesn’t have the right stuff. This is the civilization that produced the Magna Carta, Isaac Newton, the Industrial Revolution, the Beatles, Fawlty Towers and Doc Martin. America has this awesome technology industry, but it’s mostly self serving. The problems seem the same all over. Government gets bigger and more complicated, and the elites harness it for their own enrichment.
🇮🇷🇸🇦🇮🇱🇦🇪 Iran launched 8,695 missile and drone attacks across eight regional countries, with the UAE facing far more than any other country.
— UAE: 2,819
— Israel: 1,357
— Saudi Arabia: 1,231
— Kuwait: 1,214
— Qatar: 730
— Bahrain: 717
— Iraq: 340
— Jordan: 287
The UK has limited direct reliance on UAE natural gas, receiving most imports from Norway, the US, and domestic production. However, regional instability, such as strikes affecting Middle Eastern facilities, significantly spikes UK gas prices. The UAE remains a major UK trade partner, with joint ventures focusing on regional energy development
BREAKING:
🇺🇸🇮🇷 Huge amount of US airforce activity heading into the Middle East today
U.S. military cargo flights have also seen a large surge when compared to before the war. In the two weeks leading up to the war (Feb 14–28), 542 cargo flights were tracked heading to the region.
Meanwhile, during the ceasefire (Apr 8–21), 819 cargo flights were tracked throughout the region, with the majority landing in the Middle East.
JUST IN:
🇺🇸🇮🇷 Calls from Iran for everyone to leave Qatar, UAE, Bahrain, UAE, Saudi Arabia and Kuwait IMMEDIATELY
Iranian professor Mohammad Marandi, who was a member of the Iranian negotiating team calls everyone must leave the UAE, Qatar, Bahrain, Saudi Arabia, and Kuwait immediately.
Sailors on all ships in the Persian Gulf must also prepare to abandon their ships.
“This is especially urgent for ships near the Strait of Hormuz, which will be the first to be destroyed. Time is running out.” – he announced
Limey Press waking up:-
That is when illusions fade, hoarding begins and fear takes over, setting off a chain reaction that becomes hard to control. At the current daily rate of loss, usable buffers will face exhaustion by May 10 or thereabouts.
“We are entering the red zone of supply losses. You can forget about your summer holidays,” said Amena Bakr, head of Middle East and Opec research at the energy intelligence firm Kpler.
“I have been telling European politicians to stop panicking. There is more than enough new LNG reaching the market from the US and all over the world,” said Prof Alan Riley, an energy fellow at the Atlantic Council.
The bad news is that we are living in the la-la land of complacency over mounting global shortages of crude, jet fuel, refined petroleum, fertilisers, sulphur needed for metal mining, helium needed for semiconductors, and aluminium.
May the 10th……………….& forget jetting away baby!
Definitely, unequivocally bad for the economy. Less energy and materials mean belt tightening no matter what fiscal or economic policy.
But what about the investment markets? We can do nothing about “the economy” but do have some influence over our personal economy.
Stocks? The war shouldn’t hurt corporate profits. It might even be a tailwind, as much government spending is corporate revenue. The downside risk comes from a change in the time value of money … higher interest rates mean a higher rate of discount on future earnings. This is what hammered stocks in 2022 and is pressuring them now.
The same factor is pressuring gold and bond prices. The exception is of course broad commodities, especially energy and agriculture, which are under upside pressure from supply cuts. Bottom line is I’m still overweight short term treasuries and commodities and modestly underweight everything else.
I was thinking Chem-Agro & Food stocks?
Kraft? Unlever?
For folks who like to dig into balance sheets and size up individual companies, absolutely. Personally I prefer the direct route, especially for a medium term thesis where stocks can get out of sync with commodity prices. COMT or any other broad commodity futures fund. They lock directly into commodity prices so there’s no risk that factors other than commodity prices get in the way.
Trump is “Giving” them more time…………he out of idea’s
Just one idea. Chaos. Whatever he says one day will be replaced the next. Trump flips more than a short order cook.
Yesterday it was the ceasefire won’t be extended. Today it will be. Tomorrow is anybody’s guess.
Just like it was with tariffs. Notice though that the blockade – the most efficient strategy so far – remains in effect.
One side effect
https://www.autocar.co.uk/car-news/electric-cars/fiat-could-bring-tiny-three-wheeled-tris-truck-uk-dealers
A FIAT worse than death!
One reason for the chaos is his poor understanding of many things.
https://www.cnbc.com/2026/04/22/cnbc-converge-live-hormuz-singapore-fm-vivian-iran-war.html
“Trust is basically a way of lowering transaction costs. Being predictable, being boring, being reliable, being trustworthy has got real value.”
Fifteen days to flatten the curve?
Tehran Timeline: Iran Has 15 Days Until Its Oil Industry Begins Full Shut-Ins
History may not repeat, but it sure rhymes!
Trump extends ceasefire in Iran, citing ‘seriously fractured’ Iranian government
“Trump said the ceasefire, which he earlier had said would end on Wednesday, would continue “until such time as” Iran’s leaders and representatives submit a “unified proposal” to end the war with the U.S. and Israel.”
Say what? Sounds like a recipe for permanent ceasefire and permanent war.
There is no such thing as “Iran” apart from 636,372 square miles and 92,417,681 people.
Even when speaking of its “leaders”, exactly who or what are they talking about? The Ayatollah and the mullahs, the IRGC, the civilian government … who?
Iran War Inflation Could Take Years To Fade After Conflict Ends
Is it just me? Or is anyone else getting a serious case of déjà vu. Rewind to last year at this time, and inflation was coming too … due to tariffs. Financial media are desperate to blame anyone for inflation besides the outfit that manufactures it, the Fed. Especially if that anyone happens to be the object of establishment hatred, one Donald J Trump.
I’m no fan of this administration’s economic polices, but come on, this is just political scapegoating. Tariffs do not cause inflation. War does not cause inflation. Printing money causes inflation. Or rather, printing money is inflation.
Rising prices don’t cause inflation. Inflation causes rising prices. We’re still waiting for that burst of “inflation” from tariffs. We are getting rising prices from the war, but those rising prices are real, not inflation. They arise from scarcity of real stuff, not abundance of currency.
The media have become apologists for the Fed, blaming inflation on anything but its real source.
The Inflation Tax: You’re Still Paying for That Covid Stimulus
https://www.carmagazine.co.uk/car-reviews/nissan/roox/
Coming to Europe!
BREAKING: The U.S. is deploying minesweepers from Japan to the Middle East
Details:
– Trump announces that the U.S. will sink Iranian boats that lay mines
– High-ranking Iranian officials have stated that any U.S. ship entering the strait will be attacked
– The U.S. Navy appears to be planning a daring operation, amid the resignation of the Secretary of the Navy as a sign of his disapproval of such a move
Time to prep the PLEBS
https://www.bbc.co.uk/news/articles/c75kp1y43lgo
Mega’s Dispatch from England:- BBC tells all
Here in dear old blighty while all the phone boxes have gone, most of the high street banks going the same way there is one constant that always here. “Aunty” as the BBC is called, home to a dogs dinner of factors but buried deep in its confines is the DEEP state.
Every now and again it sticks its head up, prods the Paedophiles to tow the line, & thus the evening news has been on. More spin than washing machine they now reporting the “Talks” between Iran & America have broken down.
The Bastards bought out a “Tame” Iranian to say how it was ALL Iran’s fault & that the government of Iran is hopelessly split. This is some what at odds at the facts i can see from what has proved to be reliable sources.
So, wot’s a foot?
I suspect we are going to see this false narrative spun more & more…..the “Blame” must go somewhere & Israel/Us is getting downplayed.
I fear “They” are preping the ground for something major…………
Cheers
Mike
Mega’s dispatch from England:- Germany calling!
Well, just after my “BBC” report we have “De Germans” now starting to echo it.
Here is their statement:-
“Iranian regime is ‘humiliating entire nation’, German chancellor says
German Chancellor Friedrich Merz has weighed in on stalling peace talks, saying Iran had “humiliated” the US when it got officials to travel to Pakistan and then leave without results.
Speaking to students in western Germany, Merz said:
“An entire nation is being humiliated by the Iranian leadership, especially by the so-called Revolutionary Guard.”
He added that Iranian leaders are “obviously negotiating very skilfully” and are “clearly stronger than previously thought”.
Laughable but note how he trying to spin the blame.
Mike
There is no humiliation that the US hasn’t inflicted on itself. Strictly inside the box thinking. What if it permanently lifted all sanctions on Russia and found a way to work with China? US and Israel against the world won’t work; the world against Iran would.
Meanwhile you still have the problem of exactly who or what is “Iran”? The moderate elements, the civilian government, can be reasoned with; the mullahs and the IRGC not so much. It is the IRGC that insists on all or nothing, offering the choice of either giving up or destroying it. But destroying the IRGC without inflicting irreparable damage on innocent people would be no easy task.
JUST IN:
🇬🇧🇮🇷 Starmer says people they need to start saving because of the war in Iran:
“if the Iran conflict goes on longer then, “people might change their habits, where they go on holiday this year, what they’re buying in the supermarket, that sort of thing.”
Having people want to name landmarks after you is a long tradition of merit and honor. Naming things after yourself just because you can is gauche.
Mega’s dispatch from England:- The Moment of truth?
Well it beginning to look like the REAL market is about to show its invisible hand or rather the invisible finger to all the political blowhards.
The British 10 year has broken above 5%, oil trying to burst though $110. Trump is trying the “We won” statements again but its starting to not work. We just heard that the EEC is demanding that Russia remove its Diesel export ban. These are the same bastards whom have spent the last 4 years trying to smash Russia.
British supermarket bosses are now warning that there are going to large price risers net month & some foods might not be available. In short “They” are starting to “Prep” the people that a rough ride is ahead.
The British upper classes are now bitching about Iran. I have a lot of joy reminding them that Iran was ATTACKED, not the attacker! Just like Nasser when he blocked the Suez canal Iran has totally out smarted the West with devastating simplicy.
While Trump impresses the King with his “privately funded” ballroom the UK ticks down to doom. I cant say what will hit 1st or the hardest but time is short & everyone knows it.
Cheers
Mike
How is King Charles’ visit being received there?
Just that Trump is a nutter & the King is trying to humour him
His address to Congress was quite good … substantive without being overtly political.
IIRC not that long ago Trump floated the idea of rejoining the Commonwealth … and according to this King Charles may offer it … wonder if there was any talk about that …
… be nice to see Trump building bridges instead of blowing them up …
🇭🇺🇺🇦 Hungary’s prime minister-elect Magyar met with the mayor of Zakarpattia’s Beregovo, Zoltan Beregsash Babyak.
He announced this on Facebook following the meeting, adding that Budapest’s assistance to Zakarpattian Hungarians will continue.
“I am initiating a meeting with Ukrainian President Vladimir Zelensky, symbolically in Beregsash, a city with a Hungarian majority, in early June. The purpose of the meeting is to help the situation of Hungarians in Zakarpattia and their presence in their homeland.
The time has come for Ukraine to end the rights restrictions that have been in place for more than a decade, and for Zakarpattian Hungarians to regain all their cultural, linguistic, administrative and higher education rights, and to once again become equal, respected citizens of Ukraine. This could also help ensure that after the war ends, as many Zakarpattian Hungarians as possible can return to their homeland,” Magyar wrote.
WTIC above $100
COMT +41.08% YTD
Trump Tells Aides US Preparing For Extended Blockade
Beats the heck out of civilizational extinction.
Brent $115
$118 sez UK press
Bloomberg reporting Brent $119.50.
WTIC $106.90.
BTW the more governments try to cushion the blow (tax holidays, cash payments, etc), the higher it will go.
Britain’s borrowing costs have hit their highest level since 1998 as oil prices surged to nearly $120 per barrel.
The yield on 30-year UK gilts – a benchmark for the cost of servicing the national debt – jumped as much as three basis points to 5.72pc on Tuesday, a 27-year high, heaping pressure on Rachel Reeves.
Sure wish we hadn’t shut the straight on a whim. This whole fiasco is a self- inflicted dumbshit wound.
God help us all
Brent crude futures exceeded $126 per barrel according to the ICE exchange.
This is a record high since June 2022.
Just how high can it go?
Mike
Financology Commenting Guidelines
This could go on for a long time …
https://www.cnbc.com/2026/05/01/oil-prices-today-brent-wti-us-iran-war-trump-war-powers-deadline.html
“Oil prices fell Friday after Iran sent an updated peace prososal to mediators in Pakistan, raising hopes again that a settlement with the U.S. is still possible.”
https://www.independent.co.uk/news/world/middle-east/iran-us-war-live-trump-blockade-strait-hormuz-b2968572.html
““We’ve already won, but I want to win by a bigger margin,” he said. “But we have. We have destroyed their navy, destroyed their air force, destroyed all of their — if you look at their anti-aircraft equipment, their radar equipment, their leadership, their leadership is destroyed.””
Trump keeps insisting that Iran has no military left. He’s only trashing his own credibility. Regardless of whatever technicalities might colorably support such claims, the fact remains that the IRGC maintains control of the Strait and can still blow things up.
Moreover, destroying its military was not the original justification for the attack nor a valid one. The only such goal was preventing Iran from developing nuclear weapons. That’s not even close to the sane thing as “destroying its military”.
First a couple of caveats. I’m an economist, not a geopolitician. I also get virtually all the information I’m aware of from publicly available and frequently unreliable media.
That said, having carefully observed recent events and the history leading up to them, I have some fact based opinions to share.
It’s clear based on 20-20 hindsight if not having been so since the beginning, it would have been better not to have started this war. The justification is compelling – to prevent the Death to America crowd from attaining the means to carry it out – specifically developing and deploying nuclear weapons, but that this war was the only means to achieve it is far from given. Indeed at the time the attacks began, negotiations had been under way to that end. Furthermore, the risks to life and the global economy were or should have been obvious.
To have started this war was a tragic mistake. The reality of time, as indicated by this Comment’s heading, is however that the question of whether and how to continue it, given where we are today, is very different. There is no “Undo” button that allows us to go back and reverse the original decision.
From where we are right now, there are multiple options. One is simply to pack up and go home. As ugly as the alternative of ongoing war is, this would be even uglier. It would mean leaving a reactionary Islamicist regime with a chokehold on the carotid artery of the global economy and on track to building and using nuclear weapons. “Death to America” could be much more than a slogan. With its extreme destruction and radioactive fallout, any conventional war pales in comparison to nuclear war. And given that the world’s existing nuclear armed powers have since 1945 been too sensible to use them, nuclear proliferation is the single biggest risk factor for nuclear war.
That doesn’t necessarily mean there aren’t more creative alternatives. Iran can only continue to hold its side of the war up with external support. Namely in the form of Russia and China. Unfortunately, America has chosen to make them enemies. Not that they have intrinsically benign intents towards America, but America has been willfully throwing salt onto the wound. It’s very late in the game, but an effort to improve relations with Russia and China could still be a swing factor in Iran.
It’s probably a good thing I’m not in Trump’s shoes, but if I were, I would be spending a lot of time and effort understanding what America could do for them and giving serious consideration to doing it. (Ukraine? Ending sanctions? Trade deals?) As far as Iran specifically goes, I would continue the blockade, but besides just wielding sticks, consider what carrots might help ease the impasse. Monetary or other compensation in exchange for the enriched uranium. It’s transferred to a friendly power such as Russia. Enforceable security guarantees. Rebuilding aid. The all stick and no carrot approach is extremely costly and just giving up potentially even costlier.
Let’s look for a Third Way.
Time running out for Trump, either bomb or bug out
War. So easy to start, so hard to end.
Scroll down to the bottom of this article to see a short speech by Donald Trump from a couple years ago. The world would be a different place if this were the Trump in charge today.
https://vongreyerz.gold/the-case-for-gold-is-incontrovertible
I have been saying from the beginning that this is about much more than Iran, and literally for years that the US was making a grave error in not cultivating better relations with Russia. At long last others are beginning to see it. I may not know much about geopolitics, but the neocons calling the shots in Washington know even less.
And as the previously cited speech shows, Trump knew more about it two years ago than he does today. This isn’t America versus Iran; it’s America versus Russia and China.
https://www.zerohedge.com/geopolitical/trump-must-choose-impossible-war-or-bad-deal-iran-irgc-message-us
“As for the IRGC statement about an “impossible” miliary operation, it further indicated that Tehran sent the US military a deadline to end its blockade of Iranian ports. It highlighted that Europe, China and Russia are are increasingly taking a more critical toward Washington’s war.”
“The current Iran-submitted plan now being reviewed at the White House reportedly contains 14 points. A Russian correspondent has said that “Iran is seeking a decisive and permanent end to the conflict with the US, rather than a previously proposed two-month ceasefire” and that it seems a one-month window to end all hostilities.”
Still laughing at the EEC lifting ban on Russian Diesel & DEMANDING they export to them………….while the Green goblin is sinking Russian tankers & hitting oil refinery’s.
Mike
Sounds like Europe needs to figure out a way to get along better with Russia too …
⚡️⚡️⚡️BREAKING
Trump just announced “Project Freedom” to escort vessels out of the Strait of Hormuz
Any interference (by Iran) will be met with force, he added
Interesting …
Trump announces ‘Project Freedom’, escorting ships through Hormuz
In Trump’s words:
“Countries from all over the World, almost all of which are not involved in the Middle Eastern dispute going on so visibly, and violently, for all to see, have asked the United States if we could help free up their Ships, which are locked up in the Strait of Hormuz, on something which they have absolutely nothing to do with – They are merely neutral and innocent bystanders! For the good of Iran, the Middle East, and the United States, we have told these Countries that we will guide their Ships safely out of these restricted Waterways, so that they can freely and ably get on with their business. Again, these are Ships from areas of the World that are not in any way involved with that which is currently taking place in the Middle East. I have told my Representatives to inform them that we will use best efforts to get their Ships and Crews safely out of the Strait. In all cases, they said they will not be returning until the area becomes safe for navigation, and everything else. This process, Project Freedom, will begin Monday morning, Middle East time. I am fully aware that my Representatives are having very positive discussions with the Country of Iran, and that these discussions could lead to something very positive for all. The Ship movement is merely meant to free up people, companies, and Countries that have done absolutely nothing wrong – They are victims of circumstance. This is a Humanitarian gesture on behalf of the United States, Middle Eastern Countries but, in particular, the Country of Iran. Many of these Ships are running low on food, and everything else necessary for largescale crews to stay on board in a healthy and sanitary manner. I think it would go a long way in showing Goodwill on behalf of all of those who have been fighting so strenuously over the last number of months. If, in any way, this Humanitarian process is interfered with, that
interference will, unfortunately, have to be dealt with forcefully.
Thank you for your attention to this matter!”
DONALD J. TRUMP
PRESIDENT OF THE UNITED STATES OF AMERICA
Shots fired!
Mike
BREAKING:
🇺🇸🇮🇷 Doomsday for California as last barrel of oil from the Middle East arrives in Long beach – NY Post
The last California-bound oil tanker to pass through the Strait of Hormuz (since recent conflict/war involving Iran) has arrived at the Port of Long Beach.
It carried about 2 million barrels of crude oil intended for gasoline, diesel, and jet fuel.
This marks the end of routine large shipments from the Middle East to California due to the disruption, exacerbating the state’s energy challenges (California already imports significant oil because of limited domestic production and green-energy policies).
A lot more in the pipeline. Or not in the pipeline, as it were. Typical origin to destination time for shipping from Hormuz is several weeks. So the shutdown at origin is just reaching many destinations around the world.
Then there’s the disruption further downstream. Raw materials to intermediate to final goods … many more weeks. So even if Hormuz went strait open today, there’s still a lot of gap in the supply chain.
Add to the fact that it could be weeks more if not then some before Hormuz opens, the disruption is not even close to over.
The fundamentals are falling into place for Synthetic Systems‘ rough 2026 H2.
An unofficial deal seems to have been struck between the United States and Iran
The United States has authorized the Iranian LNG carrier XAVIA to pass through its naval blockade
The Americans are also returning the vessel Touska to Iran, which they had seized
The United States has also just announced that two American merchant ships have transited the Strait of Hormuz
All of this happened in a single day, which is clearly a sign of some kind of deal
Don’t hold your breath…
What’s goin’ on over there? The UK government looks almost as effed up as US.
https://news.sky.com/story/uk-on-verge-of-joining-eus-78bn-loan-for-ukraine-as-starmer-seeks-reset-with-brussels-13539984
“The UK is on the verge of joining the EU’s €90bn (£78bn) loan scheme for Ukraine, as the government seeks to shore up support for Kyiv and deepen defence ties with the bloc.
Prime Minister Sir Keir Starmer has joined European leaders at a gathering in Armenia today where he is expected to say that Britain wants to work with the EU to support Ukraine in its fightback against Russia’s invasion.”
That kind of money could get the fabled North Channel Tunnel off the drawing board.
As i understand it, Ukraine is almost defeated.
“They” wish to start “Brush fires” to soak up Russian resources elsewhere.
The bastards bet EVERYTHING on this war on Russia coming off, it did NOT.
Now we have a very limited time table left. Europe is facing collapse by high summer.
I be writing a MDFE tonight on the subject…………
The West is dying … of self-inflicted wounds.
⚡️BREAKING
6 Iranian missile speedboats were hit by US forces this morning – Centcom
This perhaps explain today’s Iranian strikes against ships and the United Arab Emirates
The ceasefire is officially broken
After Trump’s New Hope, Iranian Empire Strikes Back Triggering Renewed Market Angst
Mega’s Dispatch from England:-Power to the people…..but which people.
Now that am old (ish) i have had a lifetime to watch the political bulsh1t machine dump on the people at times of need. In my early life i was interduce to “System building”. After WW2 Britain needed to build new homes & large parts of the population where in poor housing or on ever lengthening waiting lists.
Having pissed away vast wealth on things like out Atomic project (Bomb) we where left with a sh1t load of crappy Gas cooled reactors that never worked very well & a LOT of radiation about the place.
True we did get an functional atomic device, but it was somewhat disappointing in the output department. We also managed to have a fire in a reactor that was air cooled (I joke you not) & the fallout covered half the nation………..not that they were quick to tell us that.
Then those bastard Russians & Yanks built Hydrogen bombs & we had to match them or Britian would no longer be a “World power”. We tried & fked up….it was no more powerful that a small A bomb. The Limey’s saw this coming & had a back up plan….”Orange Herold”
It was a BLOODY big A bomb, it used up almost all the fissionable stocks we had but we had to attempt to blag the World (America) we had a H Bomb. The CIA sussed very quickly as did Russians……..Meantime we fallen well behind with our House building plan.
America had loaned & given us money after WW2 to rebuild our homes & we pissed it away on this crap. We of course asked for more & LBJ said “NO”. Rather pissed off by our spending US tax payer money on Lefty projects & the Bomb ….& getting shitty about Vietnam we had problems.
Thus a NEW housing plan was devised.
Rather than that silly high quality brick built homes the then Labour government thought, “Why don’t we build them in factory then ship them to site?” I mean they were build mufti story car parks. Having bugger all idea how to do this they copied the CCCP & Eastern Europe & used Concrete + Steel bar.
The result was a disaster!
Good well built homes as well as bomb damaged or run down houses were flattened. Homes & business were wiped out & the people were given bugger choice in the matter. The pre fab themselves fell apart in no time. Yes you can build car parks this way but not homes.
The Concreate crumbled the steel rods got rusty which in turn burst the concrete apart. The parts came to site having been made badly & didn’t fit. So the site workers simply cut off the location lugs & jammed them in place & mixed concrete with old news paper to fill in any gaps.
Mega’s Dispatch from England:-Power to the people…..but which people/2
Realizing they could have themselves a bit of a problem, rather than stop the project they decided on a major bulsh1t campaign.
The rolled out the projects nation wide & got all the well spoken architects to dream up “New ways of living” (because we can’t afford build good stuff). Given the rough features of Concrete they decided to go for “Brutalist” architecture & pissed all day about le corbusier (a Nazi French asshole). They very much tried to sell this as a “Well your too stupid to get it” if any objection was raised.
They prised it using terms like ” bold, geometric, and often monumental appearance, it prioritizes, utilitarianism over decoration, showcasing raw materials and structural elements”.
Or as anyone would now admit it was grey The style is divisive, often criticized as “cold,” “sinister,” or “impersonal & badly made.
This horse sh1t went on till one morning a little old lady went making a cup of tea when the phone went. She left the gas on & after awhile it found a spark……..BANG
She was high up in a block & the small blast was enough to blown out a wall…….sadly the tower part collapsed, Roland point was a warning.
By the mid 1970’s it was all over, a few scapegoats were found, fined a few set to jail. Then the North sea Oil & Gas came & the “Evil” Margret Thatcher funded the demolition of these disgraceful examples of this bulsh1t & built quality homes people wanted to live in!
So, why am i talking about this..?……………………because it about to start over again in CARS!
Mega’s Dispatch from England:-Power to the people…..but which people/3
Now its the turn of the car……………..we had had this nonsense before. After that rather silly episode with a cannel in Egypt petrol became rather expensive & short in supplies.
Thus a rather good Car manufacturing industry was forced by the powers to be to make a car that would in time totally destroy them. I am of course referring to that disgusting shit box…”The Mini”
Named after the mini skirt it was an attempt to satisfy the growing middle class with car transport. They sold it rather cheaply & Ford was stunned, how were they doing it for the money?…………they bought one, tore it apart & priced every part.
Ford was stunned to find the British were losing a lot on money on each one! The Company making it had no idea it was making it at a loss. The more they made, the more they lost!
But it did cut the require fuel imports…….& thats what they were after.
Mega’s Dispatch from England:-Power to the people…..but which people/4
Here it comes!
Yep, never let a good crisis go to waste, an ill wind etc the powers to back & its the same play book! Just listen to this from Fiat:-
“The exhibition, titled ‘Ciao Futuro!’ presented three automotive ideas, each said to demonstrate Fiat’s “vision for the future of urban mobility as a socially relevant, culturally driven and design-led experience.”
YOUR DESIGNING A CAR MO-FO!
It gets worse:-
“not just a means of transport” but something that “fosters interactions and adapts to the rhythms of small towns”. The project proposes “a more human, shared vision of mobility, where the car becomes an extension of public space, strengthening the sense of community.”
OH FFS!
“The role of the car is changing,” they said. “It is no longer about just moving through the city, but also about how we experience the time between one destination and another. Innovation is not about moving faster, but about stopping better.”
The Real story:- They Fked
Needing REAL money to buy imported fuel the western Euro powers to be have been on the phone to Fiat. “They” can no longer afford to allow the average Pleb to swan about in some SUV the size of the Queen Mary powered by a diesel engine.
Given the average age of the European car is 14 years old they need to swiftly move these FU*KERS on to new metal, mostly electric power. Thus once again the design “Nimrods” are coming out with all this flowerily languish.
They need a small inn-city EV, Fiat has the 500 which is very slow selling, given the need for speed i suspect we see an small boxy 500 based ev very soon. Small motor no more than 25 wh/h battery as light as possible.
Excellent.
Thanks, Mega!
⚡️BIG
Marco Rubio just announced the end of the Operation Epic Fury
Getting back to Iran i think only Vance can save the day.
He got to void what happened to Spiro Agnew & get to the mid terms, after that it should be quite easy to put the skids under Team Trump……Israel might like to do the same to BiBi.
JUST IN:
🇺🇸Trump to Americans struggling with oil prices:
“Even if it’s $200, it’s worth it”
⚡️Trump to Fox News:
Iran has one week to make a deal
The odds of a peace deal between the United States and Iran being reached before 2027 currently stand at 77% on Polymarket
Evelyn Farkas of Arizona State University McCain Institute is just now on Bloomberg TV saying the same thing I have been saying for weeks … engaging China, not just Iran … would go a long way towards resolving this conflict. I would add Russia too.
Hey Mike … totally off topic, but I’m thinking about trading in the old Jaguar (2000 S-Type 4.0) on an AWD SUV. Only two electric options at my local dealer; a used low mileage ’24 Chevy Blazer and a new ’26 Chevy Equinox. The only other choices are new gasoline powered models. Could conceivably nurse the old jalopy along a bit longer, but it’s getting hard to find parts and a mechanic competent to keep it shipshape. An AWD EV would be ideal for my all short trip driving and the local climate. Any thoughts?