Kurt Cobb

At the start of the Iran conflict, the price of sulfur was about $500 per metric ton for sulfur originating from the Middle East. It now sits above $800.

AI offers far fewer benefits than the industry touts, leaning on what AI supposedly will do rather than what it can do now.

Earlier this month, the U.S. Supreme Court heard arguments on whether a lawsuit seeking damages for climate-change-related harm to Boulder County can proceed.

To implement an export ban, the president would have to declare an emergency. It’s not hard to see how Iran closing the Strait of Hormuz would be seen as an emergency.

So, there you have it. Trump and his team have stumbled into a war they cannot win. If the war does not end soon, it will likely destroy the world economy for lack of energy supplies and plunge it into a deep, years-long depression, one from which it will be difficult to emerge.

Financial markets so far have reflected the belief that the Iran war will be over soon and that commerce will return to normal. I explain why I think this belief is unwarranted and why President Trump’s latest announcement regarding bombing Iran’s power plants is economic suicide.