Thursday, June 18, 2026
See, we're living in his brain rent-free
Trump claims Iran deal is ‘unconditional surrender,’ says his power has ‘no limits’: Axios
... Asked what he had learned from the war about the limits to his power, Trump said that “I haven’t learned that lesson yet. I know there are, but there are no limits.” ...
Nemesis is coming.
JMIC states Strait of Hormuz open as of today and the U.S. Navy blockade at an end, tanker transits reported for June 11-17, 2026
SoH tanker transits 1.4/day, SoH E 0.9/day
BAM tanker transits 17.0/day, BAM SE 7.1/day
Real Clear Politics puts a guy in its lineup this morning to whom the Obama presidential library denied access three times
I carry no brief for Obama. I've been whaling on (look it up) the guy since 2009.
But criticizing Obama's so-called library because it's all about Obama, and Obama himself post-2016 for being apolitical, strike me as bizarre criticisms.
Isn't the latter what we want in an ex-president? In fact if the comparison is between George W. Bush and Barack H. Obama in their post-presidencies, it is Obama who has been far more political, most recently sealing the fate of Biden at the eleventh hour of the 2024 race. Bush merely fancies himself a painter.
That the Obama library isn't really a library only reminds us that the Affordable Care Act provided neither care nor affordability, just as America will not be great again when Trump leaves office and millions of illegal aliens will still be here.
To say that there isn't anything very tangible left of the Obama era can be said of all the presidents in our lifetimes to one degree or another.
Yes, it will be hard to ignore Obama's giant tombstone jutting up into the sky from Jackson Park, if you happen to be traveling there. Otherwise he'll be as forgettable as the next guy.
But to speak at this hour of Obama's excess of vanity when there has never been a more self-important and grandiose spectacle erupting daily from 1600 Pennsylvania Avenue than now in the person of Donald Trump is as batshit crazy as Trump is.
Trump is making us all nuts.
Wednesday, June 17, 2026
CNBC now has the memorandum of understanding signed by Trump and the Iranian president
Trump and Iran’s President Pezeshkian sign memorandum aimed to end war
... Sen. Bill Cassidy, a Louisiana Republican, in a post on X, called the deal “the worst foreign policy blunder in decades.”
Former President Ronald “Reagan is rolling over in his grave,” Cassidy wrote.
"Iran’s nuclear ambitions were not curbed, and they have learned that threatening the Strait of Hormuz works and will undoubtedly leverage it in the future,” Cassidy said.
“Now, Iran gets to build brand-new infrastructure under this deal. Before the war, the strait was open, Iran was being crushed by sanctions, and 13 service members were still alive. Now, 13 Americans are dead, families have paid billions at the pump, sanctions will be lifted, and the bombing has stopped. ..."
2027 global oil glut headlines, but 2026 historic lows are the present reality
And Donald Trump has put Iran in the catbird seat.
... stockpiles are now dangerously low.
Among
the 38 wealthier countries in the Organisation for Economic Cooperation
and Development, stockpiles are at their lowest level since 1990,
according to the IEA.
“Further
declines in the coming months could still take global oil stocks to
historic lows before the market balance shifts to surplus,” the IEA
warned. ...
Markets to Warsh: Welcome to the party, pal
Do you think the markets care much about the Fed lol?
Ten articles on the front page right now at CNBC:
Warsh experiences worst ‘Fed day’ S&P 500 performance for a new chair since 1994
Chairman Warsh abstains from giving rate forecast as several members signal a hike in 2026
2-year Treasury yield rockets higher as many Fed officials signal possible hike this year
Chairman Warsh drastically alters Fed rate statement. Here’s what’s changed
Fed holds interest rates steady: Here’s what that means for your borrowing and savings rates
Fed holds rates steady, pares down statement to remove cutting bias
Fed meeting recap: Warsh announces task forces to overhaul major Federal Reserve operations
Jeffrey Gundlach says Fed’s Warsh is not going to be the ‘easy money’ chairman many hoped for
The market didn’t like what it heard from the Fed and its new leader Kevin Warsh
Five big takeaways from Kevin Warsh’s first meeting as Fed chairman
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