Thursday, October 1, 2026

Abdul is ahead by 3.4 in the Real Clear Politics average, but the margin of error averages 3.6

 Expect polls to narrow and the actual outcome to be close.


VUSUX new NAV low 9/30/26 $7.13 (October 31, 2023 $7.44)

VUSUX per annum return 5-years -7.25%

VWESX per annum return 5-years -4.33% (NAV $6.90 vs. $6.94 October 31, 2023)

Meanwhile, checking in on the 60/40 portfolio . . . 

VTSAX per annum return 5-years +12.55%

VBTLX per annum return 5-years -0.65%  

Wednesday, September 30, 2026

Hurrah for Mark Krikorian, who finally calls attention to the single most effective way to get rid of illegal aliens: systematic nationwide worksite enforcement

Two years too late, Mark.

He puts the illegal alien population in America still at 13.5 million in July.

Here:

... One area where ICE’s deportation efforts have fallen short is at the worksite. Jobs are the primary magnet that draws people to immigrate illegally. And while it’s been illegal since 1986 to employ illegal aliens, there’s never been much enforcement.

While the Trump administration’s immigration policies have in so many respects been a refreshing break from the past, in this area they are not. While there has been more job-related enforcement than under Biden, that’s not saying much.

If the White House’s concern (and the lack of worksite enforcement is a White House decision) is to avoid sensational news footage of illegals scattering during a raid by La Migra, there’s an obvious solution. The worksite is the ideal site for what I call “briefcase enforcement” instead of “body-armor enforcement.” Raids by armed ICE agents will always need to be an option, but less sensational—and perhaps more effective -- would be ICE audits of the payroll records of suspect employers, accompanied by colleagues from the Labor Department and IRS and state agencies. This won’t work as a one-off, but if suspect employers across all regions and industries knew that hiring illegals would result in, at the very least, a paperwork colonoscopy, followed by a notice to fire the illegal workers (if they hadn’t already run off), there’d be a lot more interest in complying with the law. The possibility of fines or criminal prosecution would be an even greater incentive for employers to clean up their payrolls, though current law makes that difficult.

Worksite enforcement would also be an important spur for self-deportation. If you’re an ordinary, non-violent illegal alien and all you hear about is the “worst of the worst” getting deported, you might figure it’s worth keeping your head down and taking a chance that you won’t get caught.

But systematic nationwide worksite enforcement would change that calculation. The likelihood of arrest by ICE would go up, and even more likely would be that your newly vigilant employer would be shocked, shocked to discover that you’re illegal and regretfully have to let you go.

Once jobs in the formal labor market, where most illegals are employed, dry up, the incentives to give up and go home increase significantly. ...

Kpler data shows crude exports from the Persian Gulf recovering to about 80% of pre-war, but not refined products which are still down 81%

The U.S. facilitated transits cost the U.S. taxpayer about half a billion dollars every month. 

 Oil exports through Strait of Hormuz hit prewar levels, but fuel shipments are constrained

... The world faces a global fuel crisis as supplies from the Middle East are constrained and Ukraine pounds Russian refineries. Refined products shipped through Hormuz are at a seven-day average of 677,000 bpd as of Monday compared to 3.6 million bpd before the war, according to Kpler.

Crude and product shipments together stood at a seven-day average of 14.2 million bpd which is about 80% of the Hormuz prewar baseline of about 17 million bpd, the data showed.

... more than 70% of the crude oil that crossed Hormuz in August switched tankers off the coast of the United Arab Emirates or Oman, according to Kpler. Shuttle tankers bring oil through Hormuz to the Gulf of Oman. The cargo is then loaded onto another tanker that delivers it to Asia.

This shuttle system is protected by the U.S. military and reduces the risk of exposure to attack from Iran. But it is unclear how long this system can be sustained given that it relies on U.S. military protection.

“It’s very expensive and it’s a huge U.S. military commitment,” Croft said.

And the Gulf states don’t view the “patchwork arrangement” of ship-to-ship transfers and military escorts as an acceptable substitute for Hormuz being open, she said.

Pipelines operated by Saudi Arabia and the United Arab Emirates are also doing a lot of heavy lifting. About 40% of Gulf crude oil now bypasses Hormuz through these pipelines compared to 17% before the war, per Kpler. ...

CNBC has it backwards: The data center bill from Republicans was toothless, but the bill banning stock trading contained a Republican poison pill

 Senate Democrats sink ‘toothless’ stock trading ban, data center bill in last act before election recess

Neither party wants a Congressional stock trading ban. Trading on insider information is the main reason they want to be there!

... A second bill, known as the Stop Insider Trading Act, which also includes a controversial voter-identification provision, was defeated on a party-line, 53-47 vote. Both bills needed 60 votes to overcome the Senate filibuster.

... the congressional stock trading bill, passed the House in July on a 232-198 vote, and would prohibit sitting members of Congress from buying individual stocks. But it would not force members to divest their existing portfolios, a sticking point for some Democrats who have advocated a more stringent trading ban. 

Republicans also tacked on a controversial voter identification provision to the measure, which Democrats largely oppose.

Schumer similarly criticized the stock trading proposal on Tuesday, calling it a “theatrical farce” and the voter ID provision a “poison pill.”

And Sen. Tim Kaine, D-Va., said the Republican proposal was a half measure.

“It’s obviously a sign that they don’t take seriously the issue of insider trading. If you wanted to get a stock ban done, you would put a stock ban on the floor,” Kaine said on Wednesday. ...

Trump's BEA under Howard Lutnick fiddled with the PCE methodology while we were at the beach this summer to get lower inflation in July and August

 Fed’s preferred gauge showed core inflation at 3.0% in August, much lighter than expected 

... While the annual increases were less than expected, they came as the Bureau of Economic Analysis changed the way it computes several components of the index. The BEA adjusted methodology for how it measures prices for legal services, software and computer accessories and portfolio management.

The revisions lowered the core July PCE level by 0.36 percentage point.

... “Even after major methodological revisions, PCE inflation is still running hot however you cut it,” said Sonu Varghese, global macro strategist at Carson Group. “The economy is running hot, policy remains easy, and the Fed’s challenge is figuring out how much restraint is needed. That’s a tailwind for stocks as we move into Q4.”

... “The PCE Inflation data – the Federal Reserve’s favorite – show no progress in August on inflation,” said Heather Long, chief economist at Navy Federal Credit Union. “And it’s inevitable that September will be higher. Meanwhile, American consumers are feeling the squeeze.” ...

 

And also today . . .

Commerce Secretary Howard Lutnick reports more than $250 million in income last year

What a cohencidence!  


 

Oh look, I found our GDP missing since Reagan

 We're missing $11 trillion real GDP since Reagan.

 


Is the Trump economic policy doing anything positive for economic growth since 2016?

 Only if you squint.

The trend line inclines slightly from 1.3% seasonally adjusted annual rate in mid-2016 to 2.5% in mid-2026.

That's just part of a larger negative trend, however, since the Reagan Revolution in the 1980s. With the exception of the pandemic circus in 2020, quarterly real GDP hasn't been close to 10% since the mid-1980s.

We have fallen from a great height.

 

Trump era since 2016
Reagan era since 1983
Pre-Reagan era




 

Is the stock market a good value?

 Nominal gross domestic product Q2 2026: $32.563030 trillion (updated Sep 30, 2026)

SPX Jun 2026 average level: 7,450.03

Median valuation ratio 1938-2019: 81

GDP(81)=SPX fair value

32.56303(81)=2637.60 fair value Jun 2026

32.56303x=7450.03 actual value Jun 2026

x = 228.79 actual valuation ratio Jun 2026

Valuation ratio above 81 in Jun 2026: 182.45%

Answer: NO

Mother of all investment opportunities: 1982

Valuation ratio: 35

 


 

 

Core pce inflation has been above 2% year over year for 65 consecutive months in Aug 2026 and range-bound around 3% yoy since Mar 2024, 29 months

Obviously the Fed is content with this, or it would actually fight inflation instead of pretend to fight it.

The Federal Funds Effective Rate has averaged just 3.3% 2021-2026 inclusive.

 


Monday, September 28, 2026

There are certain things one just should not be buying at certain times

In April 2020 the 30Y was paying just 1.27% on average (tonight it pays 5.56%).

Core CPI inflation was 1.43% yoy in April 2020.

Silver was $15. It's now up 307%.

Gold was $1,700. It's up 144%.

WTI averaged $16.55. It's up 480%.

SPX averaged 2,762. It's up 179%.

The median sales price of a new home is up 30%. 

Imagine needing to sell a 6-year old 30Y you bought in a flight to safety during the pandemic panic and booking a loss of 57%. 

 



Um, why are small towns still struggling two years into Trump II?

 

Thursday, September 24, 2026

Middle East tanker transits Sep 17-23, 2026: Strait of Hormuz 1.6/day, Bab-el-Mandeb Strait 8.7/day

 WTI: $93.11

BRENT: $105.62

GASOLINE USA: $4.49 

 


 

Increasingly positive views of socialism at Gallup are mostly at the expense of the growth of corporate power in big businesses

 Increasingly positive views of socialism at Gallup are mostly at the expense of the growth of corporate power in big businesses.

There's an app for that, but we don't use it enough.

It's called antitrust law.

And of course since Citizens United on January 21, 2010, money has increased the political power of the speech of corporations, so it makes sense that positive views of big business have collapsed from 50 to 35 over the period of the survey. 

American patriots have hated the political power of corporations since before the Revolution of 1776, rejecting the argument meant to appeal to the Loyalists among us, that we are mere subjects of his royal highness, The Boss, The Man, The King:

An English colony is a number of persons, to whom the king grants a charter, permitting them to settle in some distant country, and enabling them to constitute a corporation enjoying such powers as the charter grants, to be administered in such forms as the charter prescribes. As a corporation, they make laws for themselves; but as a corporation, subsisting by a grant from higher authority, to the control of that authority they continue subject. ...  

-- Samuel Johnson, Taxation No Tyranny, 1775

 That's why we say . . .


 

 


Paging Mayor Mamdani, please call your office

 

In other words, they don't want to become Ukraine

 America’s Asian allies want a Trump-Xi truce — but not at their expense

... Trump postponed a planned $14 billion arms package for Taiwan following his previous summit with Xi in May and described arms sales as a negotiating tool in Washington’s relationship with Beijing, according to the Associated Press. 

... “Japan and the Philippines fear that Trump could soften U.S. support for Taiwan in return for economic concessions from China or Beijing’s assistance in ending the war with Iran,” Jeremy Chan, senior analyst for China and Northeast Asia told CNBC. ...  

Wednesday, September 23, 2026

Stevens throws a Hail Haley on the way out the door

Couldn't be more ill-timed, but the bill won't wait for life to be ready.

 

 New Social Security bill would lower retirement age to 60 for some workers

Rep. Haley Stevens, D-Mich., on Wednesday introduced a new bill that would lower Social Security’s full retirement age for workers in physically demanding jobs.

The bill, called the Blue Collar Social Security Fairness Act, would make it so eligible individuals would be able to claim full Social Security retirement benefits starting at age 60. ...

 

"My eggs are in a freezer waiting for me to be ready"

 


Norway, the most anti-semitic country in Europe, to its own people: If you don't hate Jews like we hate Jews, you are going to jail

Jeff Ballabon
(Sept. 22, 2026 / JNS)

“I will never accept a world in which Jews feel unsafe.”
— Norwegian Foreign Minister Espen Barth Eide

Norway’s Foreign Ministry has put out a bill for consultation, expected this fall before its parliament, the Storting in the capital of Oslo, that would send Norwegian citizens and companies to prison—up to three years—for buying from, selling to, building for or investing in businesses owned by Jews who live in Judea and Samaria, including in the most ancient, revered, Jewishly significant parts of Jerusalem. Negligent violators get six months.

Norway’s law purports to address what it refers to as Israel’s “colonization policy.”

As they say in Norway: dritprat.

Set aside borders and sovereignty. Set aside self-determination and statehood. Set aside “occupation” and “settlements.” Set aside every position you may hold on Israel or its policies or even on its very “right to exist.” The proposed law addresses none of those.

It does not, in fact, address or impact the State of Israel. It focuses exclusively on trying to destroy the private lives of roughly 850,000 Jews for the apparent crime of living where Norway has decided Jews shouldn’t be allowed to live.

That is the entire law. Everything else—every Norwegian excuse, explanation and rationalization—is gaslighting. As the foreign ministry explained in its official press release: Norwegians “must not profit from or support” anything connected to Jews who live or work in Judea and Samaria.

That’s not foreign policy; that’s a twisted antisemitic purity test imposed on Norwegians.

In Judea and Samaria, of course, it isn’t only Jews who pay for this. Tens of thousands of Arabs depend for their livelihoods on Jewish-owned businesses, earning wages that run two to five times what’s available in the Palestinian Arab economy and accounting for a meaningful share of its GDP. The law’s supporters don’t particularly care about that since their purpose is not to help Arabs but to punish Jews.

Oslo wants the same thing the Nazis wanted: Judenrein territory, achieved by expulsion or, preferably, worse.

And Judenrein is the right word. What Norway is proposing is not merely comparable to what the German Nazis did. It is precisely what they did: criminalization of commerce with Jews because they’re Jews—undesirables whose very presence is intolerable.

Of course, the Nazis only exercised that power inside territory they actually controlled. Norway wants to exercise it over land which isn’t Norway’s, in a dispute it isn’t a party to, for the sole purpose of making sure Jews aren’t allowed to live in, of all places, Judea—the undisputed indigenous homeland of the Jews.

If, after the mass killings and expulsions that emptied Christian Europe and the Muslim Middle East of their Jews, the refugee remnant has no right to live in the most historically Jewish place on Earth, regardless of which political entity controls it, then Jews have no right to live anywhere. No right, in other words, to live at all.

It may seem extreme to accuse Norway of being more grotesquely antisemitic than Nazi Germany, until you pay attention. From its inception, modern-day Norway has treated Jews as “undesirables.” Ethnic cleansing, defined as the eradication of Jewish life, was one of the country’s foundational beliefs well before Nazism.

Its celebrated 1814 constitution—explicitly modeled on the American and French examples, and still taught as one of the most liberal founding documents of its age—contained this doozy: Jøder ere fremdeles udelukkede fra Adgang til Riget. “Jews are still excluded from admission to the kingdom.”

“Still,” because this was a proud continuation of the ban Christian V imposed in 1687. This wasn’t a mob’s or a monarch’s whim. It was Oslo’s constitutional convention debating whether Jews were, as one of the very few dissenters argued, “human beings after all.” His colleagues, describing Jews instead as “crude, corrosive vermin,” prevailed.

By 1814, Sweden, Denmark, Prussia, Austria and the Netherlands had all been liberalizing their own restrictions on Jews for a generation. Norway formally incorporated its Jew ban into its foundational DNA at the precise moment its neighbors were dismantling theirs.

What Norway is proposing is not merely comparable to what the German Nazis did. It is precisely what they did.

Norway’s founding document is even more antisemitic than the Nazi Party’s founding platform, which stripped Jews of citizenship but did not ban their presence outright. Norway was Judenrein—a Jew-free polity—well over a century before Hitler’s regime existed to even coin the word. No wonder Norway claims to love the “Palestinian” cause: Both eagerly treat Arabs as cannon fodder in pursuit of their ambitions to dehumanize and demonize Jews.

Henrik Wergeland, who became Norway’s national poet, spent his final years fighting to repeal what he called “the clause of shame” and died in 1845 without seeing it done. His blind, 82-year-old father picked up the fight. The Storting finally repealed it in 1851.

Norway got a second chance, however, and seized it eagerly.

In March 1942, reinstating the Jew ban was one of Quisling’s first acts as head of his new government—not as a German mandate, but as a Norwegian initiative. Norway’s Holocaust-era laws classified full, half- and quarter-Jews so thoroughly that it went further than the Nazis’ Nuremberg Laws. Of Norway’s tiny Jewish community, about 770 were rounded up (by Norwegian officials, not German soldiers) and deported to Auschwitz. Thirty-four survived.

Hitler didn’t need to import or impose Jew-hatred in Norway. It has always been essential to the country’s DNA.

The crime the Scandinavian country now wants to create also has a parallel. The Palestinian Authority has spent decades treating land sales to Jews as a capital offense; in 1997, its justice minister announced the death penalty for it. “Palestinian” land dealers were murdered within weeks. A P.A. military court sentenced a man to death by hanging in 2009 for selling land to Jews in Judea and Samaria. Official P.A.-funded religious authorities have ruled that anyone who sells to a Jew forfeits burial in Muslim soil. A “Palestinian”-American was sentenced to life in hard labor for it in 2018.

But Norway didn’t need this precedent now any more than it needed Hitler’s then. Norway is offering the P.A.’s stance of ethnic-cleansing legitimacy: The same underlying offense, punishing people for doing business with Jews, now available with the imprimatur of a Western parliament.

Eide has told the U.N. Human Rights Council that “human rights and human dignity is universal” and that “every person has equal and inherent rights that no government can take away.”

Really? Israel, the state Eide condemns in this conflict, extends full and equal citizenship to 2 million Arabs who vote, hold seats in its parliament and sit on its Supreme Court. The P.A., which demands that its territory be entirely free of Jews, is the one Eide wants to reward by ethnically cleansing the Jews of Judea and Samaria right now. Apparently, he agrees with Norway’s founding fathers that Jews are not “human beings after all.”

After the decimation and expulsion of Jews from Christian Europe and the Muslim Middle East, and after Jews found refuge in the tiny sliver left of their indigenous homeland, Norway wants to export its psychotic Jew hate to Judea and Samaria—the most Jewish place on the planet, where Jews have lived, often under conquest and abuse, but indigenous and without interruption for more than 3,000 years.

Norway tries to make it fashionable, invoking the new language of international law, wielding the new excuses of “colonization” (as though Jews can be colonizers of their own homeland), but the law itself makes abundantly clear that it is about none of that. Norway is attacking Jews—private citizens, individuals and families—and businesses to deprive them of their livelihoods, to make them unsafe.

Its clause of shame may soon be its laws of shame.


Hypocrite froze her eggs

 

Saturday, September 19, 2026

I remember when most Americans called themselves middle class even when they weren't

The change mirrors the correct perception that America isn't what it used to be. 
 

It used to take one breadwinner to buy a new house, then both spouses had to work, now you need 3.5 welders



Friday, September 18, 2026

$9.248 trillion: The value of all U.S. Treasury securities held by all foreigners in July 2026

 Up 1.5% from a year ago, down 2.5% from the February high.

This is so stupid: 66% surveyed said they favor capping Social Security benefits so that no retired couple would receive more than $100,000 per year


 

 Social Security reform plans could sway voters in battleground Senate races, survey finds

... About two-thirds of respondents — 66% — said they favor capping Social Security benefits so that no retired couple would receive more than $100,000 per year, the poll found. ...

Fewer than 36,000 beneficiaries fall into this category, OUT OF 71.3 MILLION!

It's 0.05% of all retired couples.

This will accomplish NOTHING except to punish a few people who played by the rules ALL THEIR LIVES only to be denied at the end of them.

What an insult.

... 72% said they support increasing the payroll tax cap by 1% for all income above $184,500. ...

So if I make $1.185 million my cap is $194,500? That's all?

Sign me up! 

People don't realize that the cap should be $300,000 today to capture 90% of aggregate income as originally intended.

Americans as surveyed are obviously too stupid to add anything substantive to this discussion.  

LOL Kudlow and Ingraham: The trades are making close to $200k per year, why aren't Republicans in Congress taking credit?

 Because Republicans in Congress, contrary to popular opinion, aren't all stupid, you dopes.

Fox’s Laura Ingraham Alleges ‘Many Republicans Secretly Want Trump To Lose’ Congress

... “One of the most incredible statistics is the Trump administration, in one year, has grown personal incomes more than Biden in four,” Ingraham stated, alluding to Census Bureau data released this week.

“That is correct,” Kudlow replied.

“Why aren’t Republicans screaming this from the rooftops?!” Ingraham exclaimed.

Kudlow replied by saying people in trade professions such as “pipefitters, electricians, welders, carpenters [are] making close to $200,000 a year.” Ingraham responded by saying that now is the “best time ever for men without college degrees.” ...

First of all, Ingraham says personal income, which is not the median household income data released this week.

Real personal income grew by 7.4% from the end of 2020 to the end of 2024 compared with only 2.1% from 2024 to 2025.

She means real median household income, which grew by only 1.9% in the four years 2020-2024 but by 2.6% in the one 2024-2025.

But one can forgive the American people for not being overly excited about that 2.6% increase because it is still part of a picture since the 1980s showing structural long term weakness, while the 2025 increase of 2.6% pales in comparison to Trump I performance in 2019 at 7.2%.

He campaigned on a return to that and has not delivered it so far. 

 

Meanwhile Kudlow's claim about trade incomes approaching $200k is just crazy.

Top pay in the skilled trades is for the building trades, and their average national mean wage is nowhere near $100k let alone $200k. It's north of only $65k.

And the mean is lower for the other trades.

For installers, maintenance workers, mechanics, and repairers it's $58k. For welders, fabricators, and assemblers it's $47k.

The building trades represent only 4.1% of the workforce.  

Altogether the trades represent just under 14% of the workforce. 

The votes of these 21 million matter a lot, but even assuming Kudlow's fanciful incomes, Republicans aren't going to win with them alone.

Republicans don't have a problem communicating a message. 

They have a problem seeing reality.

Here's the reality.

The median sales price of an existing single family home in August 2026 was $434,800. 

Using the old formula of affordability which said you can afford a home which is 2.6 times your annual salary, you'd need a job paying $167,231 to afford that one.

Or 3.5 welding jobs.

Like Marco Rubio said, you need more welders. 

Thursday, September 17, 2026

Middle East tanker transits Sep 10-16, 2026: Strait of Hormuz 1.3/day, Bab-el-Mandeb Strait 8.3/day

WTI: $101.07

BRENT: $103.83

GASOLINE USA: $4.47

 


UKMTO JMIC Advisory Note Update 097 rolls out a new graph of U.S. facilitated transits of the Strait of Hormuz

 Update 097 JMIC Advisory Note 17 September

They are still working out the kinks. At the bottom "Bab-el-Mandeb Transits Last 90 Days" goes on the graph following.

Evidently one has to add the orange trend line and the red line to approximate the true picture of transits, but the red line does not indicate it is a total 7 day rolling average like the orange line.

Remember this is total transits, too, not just tankers. 

A unique and confusing situation to say the least.

 


 

The cult is the basis of culture, and our cult worships money

 


Housing affordability: The percentage of a new house purchased by the median household income is up for a third year in a row in 2025

 Median household income for 2025 was published yesterday at $87,460, which means it's time to see how much house it bought: 21%.

The average new house sold for $415,400 in 2025. 

Still not early 1990s affordable, but better for a third year in a row to 21.05%, just slightly under the 2019 level of 21.45% in the FRED chart.

 


 

"Give us another chance"

 


OMG, Is she kidding?

 I swear they put her up on the right as a commentary on the guy on the left.

What happens under Republican control?

Mad King Ludwig happens. 



 

Like hell he did

 Trump says he told Warsh to vote for hike with the rest of Fed board: ‘It’s not going to matter’

Your reminder that your million bucks in August 2026 is worth less than $30k in 1913

 Have a nice day.

The U.S. House is in recess until after the November elections and will have worked just 15 days in over four months

The U.S. Senate remains at work in September. 

A cryptocurrency regulation bill, the Farm Bill, and a reconciliation measure including additional Iran War funding and election security all await Senate action. 

 House races for exit, avoiding vote on Hegseth impeachment 

... Rep. Ralph Norman (R-S.C.), a member of the far-right House Freedom Caucus who lost the South Carolina GOP gubernatorial and special Senate primaries, wrote on X that canceling another day of votes is “unacceptable.”

“The House has now canceled at least 63 scheduled voting days this Congress, including nine days this month alone, and now we’re leaving Washington until after the election. The Founders did not envision taking this much time off and still getting paid,” he wrote.

“If Members of Congress want to go home and campaign instead of doing the job taxpayers sent us here to do, then their campaigns ought to be paying them, NOT the American taxpayer,” he added. “We still have work to do.”

With the House now gone, much of that work will be kicked to the lame duck, which is scheduled to begin on Nov. 9. ...

 

 



 

 

Tuesday, September 15, 2026

Victor Davis Hanson finally found Gates of Vienna I see

 


 Victor Davis Hanson: 50,000 Terrorist Incidents Since Bush Said "Islam Is a Religion Of Peace" -- "Quran Is Not The Sermon On The Mount"

Yu No Hu: They're sending a message to an already existing bad actor

 U.S. confirms for first time it has weapons deployed in space

... “It’s a strategic consideration to not disclose what exactly this is,” Juliana Suess at the German Institute of International and Security Affairs and an expert in space security told CNBC.

The capability of the weaponry could range from reversible interference, such as jamming, to kinetic, permanently destructive effects, she said.

“This could be anything. The only thing that we know is that it is based in space, so this is not a sort of missile based on Earth that could hit a satellite in orbit.” ...

Add another $1.8 billion minimum for blockade costs to date, not to mention all the knock-on costs in the tens of billions to economies and consumers globally

 Iranian foreign minister will head to China for talks, as Pentagon reveals financial cost of war 

... The Iran war cost an estimated $33.4 billion as of June 29, according to the U.S. Department of Defense, which released a lead inspector general report to Congress on the Iran war Monday tracking the conflict up to the end of June. That includes $184 million in physical damage to U.S. diplomatic facilities in four countries — Iraq, Kuwait, Saudi Arabia and the United Arab Emirates — from Iranian strikes, it said. ... 

Welcome to The 26th Anniversary of The Lost World

When average real return from stocks was 86% better. 

This incorporates the inflation data for August 2026 reported last week.

 


 

Friday, September 11, 2026