Author: Press Room

Continued silence could pose serious risks of escalation in the ongoing conflict with Iran, a group of 30 Congressmen has said A group of 30 Democrats in the US House of Representatives have demanded that the administration of President Donald Trump disclose information about Israel’s nuclear arsenal and relevant policies. The lack of transparency threatens the entire Middle East, the lawmakers have argued.West Jerusalem has neither confirmed nor denied possessing nuclear weapons, nor has it publicly presented any doctrine outlining the potential use of such weapons or its possible “red lines.” The US, which has been aware of the Israeli…

The World Health Organization (W.H.O.) said on Monday that the risk to the general public was “low” from the outbreak of deadly hantavirus aboard a cruise ship currently isolated off the coast of West Africa. The Dutch-flagged cruise ship Hondius departed Argentina for the Canary Islands three weeks ago, with 88 passengers and 59 crew aboard. Early in its voyage, several of the passengers and crew became sick with hantavirus, a disease that normally spreads through rodent droppings rather than human-to-human contact. Hantaviruses attack the lungs or kidneys and can cause death through respiratory failure. There are no known vaccinations…

On Tuesday’s broadcast of CNN’s “The Arena,” Rep. Robert Garcia (D-CA) responded to arguments that Democrats have created cost of living issues in California since they run the state by saying that “much of that is also, I’m going to put, right now, the blame on Donald Trump. Gas prices are going out of control because of the war in Iran. Affordability, he’s never focused on.” Host Kasie Hunt asked, “What do you say to critics who look at California and they say it encapsulates the cost of living problems that — they argue that Democrats created the cost of…

The US president has abruptly put his Project Freedom operation on hold after just two days President Donald Trump has temporarily paused a US military operation to escort ships through the Strait of Hormuz, but said the blockade of Iranian ports would “remain in full force and effect” until a final agreement with Tehran is reached.The so-called Project Freedom operation was launched to guide tankers and other commercial vessels through the key energy chokepoint, which accounts for roughly one-fifth of global oil flows. Announcing the mission on Sunday, Trump described it as a humanitarian effort rather than an offensive operation.“Based…

The United States overtook Saudi Arabia to become the world’s largest exporter of crude oil over the past nine weeks, as Iran’s attacks on shipping in the Strait of Hormuz choked off Middle Eastern oil shipments. Bloomberg News reported Sunday that the United States shipped more than 250 million barrels of crude oil from its wells and storage tanks to overseas buyers over the past nine weeks, becoming a “lifeline for global consumers.” The report cautioned that “record American exports also come with warnings that this supply cushion is rapidly being pushed to its limits.” “Many energy experts are questioning how long…

Iran ramped up its missile and drone attacks on the United Arab Emirates (UAE) on Monday night, setting a major oil port known as the Fujairah Oil Industry Zone ablaze. Three Indian nationals were injured, prompting Indian Prime Minister Narendra Modi to denounce Iran’s actions. Oil prices jumped about six percent on news of the fire at Fujairah, which was attacked by a dozen Iranian ballistic missiles, three cruise missiles, and four drones, according to Emirati defense officials. Iranian state media claimed the attack was a justified response to “U.S. military adventurism.” Fujairah is one of the seven emirates that…

The top diplomats discussed international affairs and upcoming contacts, the Russian Foreign Ministry has said Russian Foreign Minister Sergey Lavrov held a “constructive” phone call with US Secretary of State Marco Rubio, the Foreign Ministry in Moscow has said.The top diplomats compared notes on “the current state of international affairs and Russia-US relations” and discussed the schedule of upcoming bilateral contacts, the ministry said in a statement.The conversation was “constructive and businesslike,” it added.The US State Department has not yet commented.The Lavrov-Rubio call – their first in more than six months – came less than a week after Russian President…

Since the ceasefire on April 8 and Trump’s apparent capitulation to Iran, it appears the Iranians will levy a toll on all oil passing through the Strait of Hormuz. The details are still unclear, but according to The Hill citing the Financial Times, the Iranian Republic will levy $1 per barrel of oil to be paid in bitcoin on all traffic out of the Persian Gulf. The Iranian government obviously benefits from this, but who actually pays the toll? This question, what is known as tax incidence, is one important point of difference between the Austrian school and mainstream economics that remains widely…

Hundreds of people are planning a major celebration in the Mexican city of Culiacan, Sinaloa, over the resignation of the state’s cartel-connected governor, who is now a fugitive wanted by the U.S. Department of Justice. The celebration is set to take place this week outside of the Governor’s Office, where organizers are asking citizens to be respectful, bring their grills to share a meal, and ask for a better state. The celebration comes soon after Sinaloa’s cartel-connected Governor Ruben Rocha Moya announced he was stepping down from his post to deal with a series of federal charges filed by the…

The JOLTS Report Shows a Healthy Labor Market, Not a ‘Sluggish’ One The March JOLTS report dropped Tuesday morning and the Associated Press immediately informed the nation that the labor market “remained sluggish.” That’s a strange way to describe a report showing hiring surged by 655,000 to 5.6 million, job openings held steady at 6.9 million, and the quits rate ticked up — all consistent with the March payrolls report that showed 178,000 new jobs and unemployment falling to 4.3 percent. So, why does it look “sluggish” to the Associated Press? It’s tempting to write this off as pure Trump Derangement…