Kurt Cobb

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.

Oil price manipulation is taking many forms after the closure of one of the world’s major choke points for oil transport sent oil prices higher.

A lot of nonsense is being communicated about the war with Iran.

Shouldn’t a technology that its creators admit has a nonzero chance of chance of wiping out human civilization be abandoned? Not according to the titans of AI.