"The US has committed a substantial military force at great financial cost to protecting the Red Sea. Our protective effort is failing and flailing," David Asher, a senior fellow at Hudson Institute, wrote in a statement, referring to the escalating attacks on commercial vessels by Iran-backed Houthis across the southern Red Sea, critical Bab el-Mandeb maritime chokepoint and the Gulf of Aden.
Our biggest takeaway this week after speaking with several commodity research firms and risk analysts about the evolving situation in the Red Sea is attacks are only increasing from here as there's no immediate end to the Israeli-Hamas war this summer.
Making headlines in recent days has been the sinking of commodity-hauling bulk carrier "Tutor." The significance of this Houthi attack marked the first time a ship was hit by an uncrewed surface vessel packed with explosives.
On Wednesday evening, Houthi spokesperson Yahya Saree provided a never-before-seen view of the attack on Tutor, which shows the drone boat slamming into the stern of the vessel, producing a massive explosion. Also, an anti-ship missile appeared to have struck the center point of the hull.
Tutor's attack is another example of the Biden administration's failing Operation Prosperity Guardian to ensure freedom of navigation in the Red Sea area. The consequence of this failure is an emerging supply shock to the global economy.
Check out containerized shipping rates that are soaring.
Meanwhile, the Houthis (or Iran) are only emboldened by a weak administration and an American president who might have dementia. Democrats have been setting the world on fire with one disastrous foreign policy choice after another.
If the elderly President Biden appeared as clueless at the recent G7 meeting as he did, then he's even more out of touch when defending the Homeland.
The world has entered what appears to be a war cycle as a multi-polar state rears its ugly head.
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