Category Archives: Globalization

Australia’s Fuels Dependence Turns Into a Crisis

Australia is on its way to becoming the first advanced economy major victim of the Iran war due to baffling policy choices.

Iran War: Accelerating Economic Damage Creates Urgency on Strait of Hormuz Closure; Shambolic US Assault Preparations Continue; Iran Demands Recognition of Sovereignity Over Strait; Houthis Set to Strangle Red Sea Traffic if US Makes Ground Attack

Trump’s fight with the Iran war tar baby is at great risk of creating even more dangerous escalation.

The Economic Consequences of a Low-Skilled Immigration Sudden Stop: Evidence from Korea’s Guest Worker Programme

The example of South Korea suggests that a halt in immigration by low-skilled workers does not boost pay or job conditions for natives.

Michael Hudson: Iran, Israel, and World War III

Michael Hudson provides a deep dive into US foreign policy and its use of dollar dominance.

Iran War: Joe Kent Resignation Bombshell; US Deploys Bunker-Busters Near Strait of Hormuz; Iran Makes Retaliatory Strikes on Israel, Across Gulf for Ali Larijani Assassination; Real World Oil Prices Diverge from Paper Oil

Today’s Iran war update: attritional slugging continues as Joe Kent’s resignation shows MAGA doubts and the economic tsunami starts rolls in.

Iran War: Trump Administration Attempts to Deny Long Conflict Risk; Trump Threatens NATO Over Hormuz Scheme; Kinetic and Economic Situation More Desperate Than Acknowledged

The latest Iran war update: Trump harangues allies as his team offers hopium despite more evidence of kinetic and real economy damage.

With Shipping Industry in Meltdown, Struggle to Oust China from Global Ports Intensifies

Panama “retakes” canal, and Blackrock-led consortium doubles down on efforts to acquire dozens of global ports from Hong Kong-based company, including ones in Persian Gulf and Red Sea.

Michael Hudson: Persia’s Monopoly Concessions to Britain, 1872-1901

Persia’s 19th century fight to drive out the British investors who had obtained monopoly concessions is background to the current crisis.

Iran War: Oil Flirts With $100 as More Commercial Ships Hit, US Refueling Plane Downed, with Iraqi Militia Taking Credit; Demands for Hormuz Opening Intensify; Private Debt Wobbles Add to Market Pressure

Today’s Iran war update: markets stay edgy as Administration messaging becomes more hollow and more ships burn.

Iran War: Oil Again Breaches $100 as Iran Escalates Attacks on Israel, Shipping, Dubai; More on the Effects of a Long Closure of the Strait of Hormuz

The Iran war is going ever more pear-shaped for the US, Israel, the Gulf states, and innocent bystanders, yet Trump refuses to relent.

Why Did Most Of The World Condemn Iran At The UN?

Why the huge vote against Iran on what Russia depicted as an unbalanced resolution should come as no surprise.

Iran War: Iran Seeks Decolonization of Gulf Region; IEA Proposes Emergency Release of Reserves; Nuclear Strike Risk Assessment; Iran Escalates Strikes

Today’s Iran war update: the implications of Iran’s apparent demands, risk of a Israeli nuclear attack, and Iran’s kinetic escalation.

The Pakistan Navy’s Regional Escort Mission Puts Iran in a Dilemma

The US Strait of Hormuz escort story was fake but Pakistan, which is very exposed to the closure, plans something more serious. Will it work?