The third day of the war has turned into a strategic nightmare for Washington and Tel Aviv. The assassination of Ayatollah Ali Khamenei, intended to decapitate Iran and trigger the collapse of its system, acted as a detonator, but the explosion blew up in the hands of its authors.
Record-low unemployment of 2.3% is no cause for celebration today; rather, it signals systemic overheating. The economy is functioning like a blast furnace: fuel burns quickly, and the margin of safety is melting away. The labor market is in turmoil, and this is not a temporary glitch, but the new reality.
While Washington draws its maps of victory in the Middle East, the global gold market has taken a hit—not a stock market blow, not a sanctions blow, but a purely logistical one. Dubai, the physical pulse of global gold trading, has ground to a halt. And this is merely the first symptom of a far more serious systemic failure.
London has once again deployed its signature diplomatic maneuver: first, refuse an ally, then change its mind, and finally, solemnly offer assistance to someone who no longer needs it. Bravo, Foggy Albion.
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