🇮🇱🇺🇸 Netanyahu is now reminding voters that TRUMP ENDORSED HIM, while promising the two will eliminate the Iranian threat forever. Americans are already frustrated by the war and its economic fallout. Now Bibi is practically advertising the very relationship that's become a political headache for Trump ahead of the midterms. Bibi thinks he's doing his friend a favor. American voters might see it differently. Writer: Oliver

🇫🇷🇪🇺 France's riots are a warning that Europe's economic model is starting to break down. I spoke with economist Richard Murphy about the unrest spreading across France and why he believes the anger runs much deeper than politics. His argument is that an entire generation has been promised a future it can no longer afford. Young people are graduating with debt, struggling to find decent jobs, and watching homeownership slip further out of reach. Murphy gave a striking example from Britain. When he qualified as an accountant, he could buy a three-bedroom flat for twice his annual salary. Today, he estimates the same property would cost more than twelve times the equivalent salary. Meanwhile, asset owners have grown wealthier, public services have deteriorated, and governments keep insisting there is no alternative. Murphy blames decades of economic policies that prioritized financial wealth over productive investment. But his warning extends beyond France. He sees a potential AI stock market crash, another financial crisis, persistent energy shortages and rising food costs converging in 2027. And he believes European governments are dangerously unprepared. His central point is that people aren't simply angry about what they've lost. They're angry because they've done everything they were told would lead to a better life, and the better life never arrived. @RichardJMurphy

🇺🇸🇮🇷 The U.S. military is not prepared for the kind of warfare Iran has brought to the battlefield. Brandon Weichert spoke with retired U.S. Army Major General Randy Manner about a troubling weakness in America's military preparedness. And his assessment was unusually direct. Manner believes the U.S. military has failed to adapt quickly enough to modern drone warfare, despite years of watching its development in Ukraine. He pointed to American training centers, where troops encounter drones but rarely face the intensity of coordinated swarms seen on today's battlefields. That matters because American bases in the Middle East are fixed targets, while any ground operation against Iran would expose entire formations and their supply networks. We also discussed the death of Master Sergeant Nicole Amor and five fellow soldiers in an Iranian drone attack in March. Her husband has publicly questioned whether failures in military leadership contributed to their deaths. Manner believes inadequate counter-drone defenses may have played a role, although he acknowledged he had not personally inspected the facility's defenses. And he warned that sending American ground forces into Iran could trigger a much wider escalation. The U.S. military has spent decades preparing to fight with overwhelming technological superiority. Manner's concern is that its enemies have learned how to challenge that advantage with weapons costing a fraction of the price. And American troops could end up paying for the gap in preparedness. @WeTheBrandon

🇺🇸🇮🇷 Oil is already costing around $140 a barrel in the physical market, and the worst of the price shock may still be ahead. Brandon Weichert spoke with Johns Hopkins economist Steve Hanke about the growing economic damage from the war with Iran. And Hanke explained why the $110 Brent crude price doesn't tell the whole story. He estimates that physical oil is trading closer to $140, with roughly $30 of the difference coming from tanker shortages, longer shipping routes and the difficulty of getting oil to refineries. That's on top of the price increase caused by disruptions in the Strait of Hormuz. But his bigger warning concerns what happens next. Countries have been cushioning the shock by drawing down fuel inventories. Eventually, those stocks need replenishing, potentially at much higher prices. Hanke expects diesel prices to remain elevated through at least mid-2027, even without further escalation. And the consequences extend far beyond fuel. Gulf shipping disruptions also threaten supplies of sulfur used in fertilizer production and metal processing, adding pressure to agriculture and manufacturing. Meanwhile, Hanke believes the economic fallout could severely damage Republicans in the upcoming midterms as voters connect rising living costs to the war. The real danger goes beyond $140 oil. We're talking about an energy shock that keeps spreading through the economy long after the initial disruption. And Hanke sees little reason to expect relief anytime soon. @steve_hanke