Pete Hegseth, the secretary of War, told a congressional hearing on Tuesday that the U.S. is prepared to escalate the Iran War as both sides are deadlocked and the Strait of Hormuz is still essentially closed for business.
BE READY FOR A MAJOR DISTRACTION EVENT. (EXPECT IT… AND LIKELY SOON)
The Pentagon has just begun releasing a large batch of UFO/UAP files.
U.S. CONSUMER SENTIMENT SINKS TO ANOTHER RECORD LOW
After touching a record low in April, the University of Michigan’s monthly survey of consumer sentiment fell even lower in the May preliminary poll, sinking to a reading of 48.2.
IRAN HAS CAUSED MORE DAMAGE ON U.S. MILITARY INFRASTRUCTURE THAN WHAT HAS BEEN PUBLICLY ACKNOWLEDGED, ACCORDING TO REPORT
While the Trump administration has tried to describe the Iranian military as inept and defeated, the facts suggest otherwise, and new evidence emerged last week indicating that the Pentagon has been working to suppress the amount of damage that the Iranians have managed to inflict on U.S. bases and assets in the Gulf region.
WAR MUST GO ON: MAJORITY OF ISRAELIS WANT THE IRAN WAR TO CONTINUE, POLL FINDS
A newly released poll found that the majority of Israelis do not believe the war with Iran should end because Tel Aviv’s security goals have not been achieved, which means there will be no peaceful resolution because Israeli Prime Minister Benjamin Netanyahu needs the war for his political survival, and President Donald Trump appears to follow orders from Tel Aviv.
TWO OUT OF THREE AMERICANS SAY TRUMP DID NOT EXPLAIN WHY U.S. IS AT WAR WITH IRAN: POLL
A newly released poll found that 66 percent of Americans said President Donald Trump never clearly explained the goals of the U.S. “military involvement in Iran” that started on 28 February and shows no end in sight.
Global Economy
SPOTLIGHT: BIGS GETTING BIGGER
Germany’s E.ON SE, already one of the world’s largest electricity suppliers, is taking over Ovo Energy’s residential electric service in the U.K. to become Britain’s largest electricity company, serving 28 percent of households.
SPOTLIGHT: CHINA’S ECONOMY STRENGTHENS
China’s exports shot up 14.1 percent in April in dollar terms, year on year, almost doubling the 8.5 percent growth that analysts in a Bloomberg poll had expected.
SPOTLIGHT: THE IRAN WAR’S DEEPENING ECONOMIC SHOCK
Ongoing volatility in the price of oil could shave 1.75 percent off the value of world trade by the end of next year, the private Global Trade Alert (GTA) research organization reported.
U.S. Economy
MARKET OVERVIEW
The NASDAQ and Standard & Poor’s 500 index both closed last week at new record levels after also setting new intraday highs, with share prices rising on strong earnings, especially by tech companies, that reassured investors that the businesses could manage their massive AI expenses.
SPECIAL REPORT: THE U.S. IS NOW AN AI ECONOMY
The U.S. economy grew by 2 percent in this year’s first quarter, missing economists’ expectations of a 2.2-percent bump in a Wall Street Journal survey.
TOP TREND 2026: DOT-COM BUST 2.0
As we had forecast, one of our Top Trends for 2026 is Dot-Com Bust 2.0, and now that reality is finally hitting The Street. Indeed, as we go to press, this is a top headline article in CNBC: Bulls and bears both believe this could be 1999 all over again.
The Iran War
HEGSETH SAYS U.S. PREPARED TO ESCALATE WAR WITH IRAN AFTER TEHRAN ISSUES ITS OWN THREAT
Pete Hegseth, the secretary of War, told a congressional hearing on Tuesday that the U.S. is prepared to escalate the Iran War as both sides are deadlocked and the Strait of Hormuz is still essentially closed for business.
TRUMP: CEASEFIRE WITH IRAN ‘ON LIFE SUPPORT’ AFTER TEHRAN’S PROPOSAL TO END WAR
President Donald Trump said Monday that the ceasefire with Iran that began on 8 April was hanging in the balance after Iran’s response to a U.S. proposal to end the war, telling reporters that the deal is “on life support.”
IRAN HAS CAUSED MORE DAMAGE ON U.S. MILITARY INFRASTRUCTURE THAN WHAT HAS BEEN PUBLICLY ACKNOWLEDGED, ACCORDING TO REPORT
While the Trump administration has tried to describe the Iranian military as inept and defeated, the facts suggest otherwise, and new evidence emerged last week indicating that the Pentagon has been working to suppress the amount of damage that the Iranians have managed to inflict on U.S. bases and assets in the Gulf region.
Hi-Tech Science
RESEARCHERS CREATE A NEW FORM OF ALUMINUM
Materials scientists at King's College London have created a never-before-seen version of aluminum, one of the world’s most abundant materials.
INJECTABLE HYDROGEL HEALS DAMAGED HEART TISSUE INSIDE THE BODY
There is no standard way to directly repair damaged heart tissue.
A SIMPLE GENE TWEAK TURNS A STRAWBERRY INTO A SUPERFRUIT
What had been considered a routine “housekeeping” gene having to do with maintenance of cells has turned out to have a major impact on a fruit’s flavor and nutritional punch, according to new research by scientists at Nanjing Agricultural University and the University of Connecticut.