![\"Merchant](\"https:\/\/d2eehagpk5cl65.cloudfront.net\/img\/c800x450-w800-q60\/uploads\/2026\/07\/RedSea-Tanker-800x450.jpg\")
<\/picture> <\/div>\nOil prices surge:<\/strong> Yesterday, Houthi terrorists struck two Saudi oil tankers in the Red Sea, sending oil prices up to $99 a barrel<\/a>. The strikes “threatened to broaden the conflict by creating a second choke point on global shipping, in addition to the Strait of Hormuz, which Iran has effectively closed,” per The New York Times<\/a>.<\/em><\/p>\n President Donald Trump, too, is escalating: “From this point forward, any time the Islamic Republic of Iran shoots at a ship in the Strait of Hormuz, whether it be by Missile, Rocket, Drone, or any other device or weapon, the United States will bomb and destroy ONE BRIDGE OR POWER PLANT, including those located next to, or in, the Capital City of Tehran,” he wrote<\/a> on Truth Social. “Thank you for your attention to this matter!”<\/p>\n <\/span><\/p>\n Technically, since the Houthis are not Iran (just backed by them), and since the Saudi strike wasn’t in the Strait of Hormuz but in the Red Sea, yesterday’s attack probably won’t warrant a U.S. bombing. But it’s a very bad sign that a second shipping corridor\u2014the Bab al-Mandab Strait\u2014is now threatened, as this is likely to send oil prices surging even higher.<\/p>\n “On Tuesday, [Trump] said U.S. military forces would likely attack Iran’s Pickaxe Mountain, the underground site where Israeli intelligence believes<\/a> Iran has buried advanced nuclear-enrichment centrifuges, ‘pretty soon,'” reports<\/a>\u00a0The Wall Street Journal. “<\/em>Trump’s threats come days after Iran launched a barrage of missile and drone attacks against U.S. bases in Jordan. Three soldiers were killed there in a strike that hit containerized\u00a0housing units<\/a> where the troops lived and slept. A fourth servicemember was killed last week in Iraq during a controlled detonation of unexploded ordnance from a downed Iranian drone.”<\/p>\n People are already souring on the war: <\/strong>“Half of President Donald Trump’s MAGA base thought Iran’s war was worth its economic costs in May. Now, just a little more than a third do,” reports<\/a>\u00a0Politico. <\/em>“Additionally, 37 percent of self-identified MAGA Trump voters say the U.S. should continue its involvement only if it\u00a0doesn’t increase costs, up from 29 percent who said the same in May, according to the survey, conducted by independent polling firm Public First. Nearly 1 in 5 MAGA voters believe that the U.S. should end its war in Iran, regardless of the costs.”<\/p>\n It looks likely to get much worse before it gets better.<\/p>\n Scenes from New York:\u00a0<\/em><\/strong>“The Commission on Government Efficiency, which the mayor formed in January, has proposed expediting the time it takes to build new street safety projects by 33%. It’s one of the\u00a0five ballot questions<\/a> the commission is expected to approve on Thursday that aim to speed up work by\u2014and with\u2014the city. The proposals will appear on voters’ ballots in November,” reports<\/a>\u00a0Gothamist.\u00a0<\/em>“Altogether, the commission settled on five proposals that it said will simplify the process to secure permits for outdoor dining, shorten the timeframe for the city’s contracting and procurement process, fast-track projects on city-owned land whether its for a street or a building, simplify the building permit process and create targets for contributions to the city’s rainy day fund to prepare for an economic downturn.”<\/p>\n The main finding: Sports betting does not merely replace other entertainment spending. Instead, it crowds out saving and increases borrowing.<\/p>\n For many households, the money deposited into betting apps comes directly from their financial cushion.<\/p>\n — Jason Kotter (@JasonKotter) July 22, 2026<\/a><\/p>\n<\/blockquote>\n
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