Author Archives: Yves Smith

Iran War: Iran Stance Hardening in Connection with Funerals for Supreme Leader and Other Martyrs; Strait of Hormuz Dominance Struggle Continues; More on Oil Price Anomalies

Today’s Iran war update: Why things are not as quiet as they might seem.

Links 7/4/2026

Why AI Doesn’t Think, Cannot Reason, Isn’t Intelligent and Will Never Achieve Consciousness

Rob Urie addresses common misperceptions regularly promoted by AI touts, of what AI can and cannot do.

Iran War: Philip Pilkington, Nate Wade Debunk Oil Cliff Hopium; Pilkington Explains Prices Derived from Crack Spreads are $100 to $115 a Barrel; US Declares Fertilizer Emergency

Today’s abbreviated Iran war news: some information hygiene on the oil cliff and fertilizer fronts.

Iran War: Vance Confirms Plan to Use “Deal” as Minsk-Type Pause to Restock Fuel (and Arms); US Ostentatiously Failing to Implement MOU, Seeking to Isolate Iran Over Strait of Hormuz Control

Today’s Iran war news: The US thumbs its nose at MOU obligations and seems content with current Strait of Hormuz transit levels.

When Trust in Official Statistics Declines

The Trump firing of the BLS chief imposed costs by lowering faith in official statistics and increasing uncertainty.

Most EU Citizens Support Economic Growth Even Though Climate Experts Question Its Role

Most Europeans do not see a tradeoff between economic growth and preserving the environment. Propaganda and happy Green New Deal patter worked.

Links 7/1/2026

Iran War: Iran Disses Witkoff and Kushner in Doha but Does Not Get $6 Billion in Frozen Assets; Strait of Hormuz Traffic Sub-Par but Continues on Oman Side as Talks Over Future Management Continue

Today’s Iran war update: Iran can’t even get its Biden-era promise to return $6 billion in frozen asset honored. So what happens now?