We have never seen a year quite like 2026, and we are certainly not prepared for what is coming in 2027. There has never been a time when we haven’t had problems, but now we have entered an era when we are just getting hammered by crisis after crisis after crisis. At the moment, we are simultaneously facing an unprecedented global energy crisis, an unprecedented global food crisis, an epic meltdown in Europe, the end of the biggest financial bubble in history and the most powerful Super El Niño ever recorded. To say that we have a lot on our plate would be a massive understatement, and what we have experienced so far is only just the beginning.
For a few months a decent amount of oil was sneaking through the Strait of Hormuz, but now Iran is trying to slam the door shut.
The Iranians have been attacking more oil tankers than ever before this month, and earlier today yet another oil tanker hit an Iranian naval mine…
A violating oil tanker struck a naval mine in the southern Strait of Hormuz, causing an explosion and a fire in its engine room, the Islamic Revolution Guard Corps Navy said in a statement.
The vessel, which was trying to exit the Strait of Hormuz, had switched off all its positioning and navigation systems from the start of its voyage and was attempting to cross the unauthorized southern route of the strait in disregard of its regulations when the incident occurred.
The Islamic Revolution Guard Corps Navy said any ships in the Strait of Hormuz and the Persian Gulf that turn off their navigation and identification systems will be dealt with severely and decisively.
The southern route through the Strait of Hormuz near the coast of Oman used to be clear of mines.
Not anymore.
Every time a single oil tanker is put out of commission that is a major loss.
A new oil tanker costs somewhere between $60 million and $140 million, and once an order is placed it takes 9 to 15 months to build it.
Investors are starting to realize that the global energy crisis is not going to end any time soon, and on Monday the price of Brent crude nearly hit 110 dollars a barrel…
Brent crude futures briefly tagged $109.99 a barrel in overnight trading before retreating from five-month highs during the Asian session and into European trading, as signs of recovering Middle Eastern supply offset renewed attacks on energy infrastructure and critical maritime shipping lanes.
Of course Iran is not able to export much oil either, because the U.S. naval blockade is having a devastating impact on their economy…
In a video message posted on Friday, U.S. Central Command chief Adm. Brad Cooper said the naval blockade has prevented Iran from exporting at least $25 billion worth of crude oil. The U.S. and its partners have also frozen nearly $350 million cryptocurrency assets, he added.
The effects have rippled throughout Iran’s economy, forcing the regime to withhold salaries, pensions, and benefits to workers in the energy, manufacturing, construction and security sectors, including the Islamic Revolutionary Guard Corps, Cooper said.
“The financial strain on Iran’s military has become so significant that there are reports of Iran-aligned militia groups across the region withholding payments to their soldiers in order to funnel money back to the IRGC, which also is not paying its troops,” he explained. “The Islamic regime is clearly feeling the economic pain, and the IRGC is increasingly showing signs of greater desperation as a result.”
What we really need is for the war in the Middle East to end.
But that isn’t going to happen.
In fact, it appears that it could soon greatly escalate.
The fighting in the Middle East has also really driven up fertilizer prices.
Farmers all over the world are paying far more for fertilizer and far more for fuel, and those costs are going to get passed along to everyone else.
Global food prices increased by 13 percent during the third quarter of 2026, and we are being warned that even higher prices are ahead…
Global agricultural prices jumped 13 percent in the third quarter of the year, according to the International Fund for Agricultural Development (IFAD), which warned a “global food crisis is looming”.
The surge in energy prices due to conflict in the Middle East has sparked a sharp increase in the cost of fertilisers and fuel this year, driving up agricultural production and transport costs.
“Over the next six to nine months, we will see continued increases related to food prices, but also I would say even inflation in terms of food, which will impact most of the populations that actually can afford it less,” IFAD President Alvaro Lario told AFP in an interview on Tuesday.
When food prices go up, more people go hungry.
That is just the way that it works.
The outlook for 2027 is extremely grim, and we are already at a point where the number of people in the world experiencing acute hunger has doubled over the past ten years…
Acute hunger has doubled over the last ten years and now affects 266 million people across 47 countries and territories, according to a new report from Action Against Hunger.
We have been witnessing horrifying riots in France, Belgium, Italy and Albania in recent days.
The rioting has been particularly intense in France, and on Monday French stocks were way down…
French markets tumbled on Monday, with bonds, Paris-listed stocks and even the euro falling after widespread protests across France underscored difficulties the government faces in reducing its large deficit.
Already contending with weak growth and ballooning debt, the euro zone’s second-biggest economy witnessed some of its worst unrest in years over the weekend. Thousands of people were arrested and shops were looted during protests over high prices and declining public services.
