Happy Clappy.
To the surprise of almost no-one, the fleeting US/Iran talks in Pakistan over the weekend were a dismal failure. Sometime in between attending UFC fights, unsuccessfully interfering in Hungary’s election, posting an AI image of himself as a messiah and picking fights with the pope, Trump still found time to announce a naval blockade of the Strait of Hormuz in a move designed to cripple Iran financially.
The main effect of such a move, of course, is to further deepen the world’s chronic energy supply shock (contemptuously dismissed last week by Treasury Secretary Bessent, net worth around $600…
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