In 1956, Britain’s Suez campaign collapsed not because its forces were defeated, but because sterling could not withstand financial pressure. The episode revealed a structural truth: military capability is subordinate to monetary autonomy. Today the United States is not Britain under Bretton Woods, but it faces expanding global commitments alongside rising debt, elevated interest costs, and industrial constraints. This article examines how financial markets, rather than battlefields, may ultimately define the limits of American power. A single geopolitical shock is manageable. A sequence of them may not be. History may not repeat—but it can rhyme.
Recent Items
Tuesday, February 24, 2026
Coffee Break: Armed Madhouse – America’s Coming Suez Moment
Topics: Coffee Break, Guest Post
Posted by Haig Hovaness at 2:00 pm | 6 Comments »
Republicans Scheming to Preserve Trump Tariffs Even After They Create Fewer Manufacturing Jobs
Trump and his GOP allies still heart tariffs despite failures, such as 2025 net manufacturing job growth ofless than half the year before.
Topics: Economic fundamentals, Free markets and their discontents, Globalization, Guest Post, Politics, Taxes
Posted by Yves Smith at 9:55 am | 5 Comments »
Links 2/24/2026
Topics: Links
Posted by Yves Smith at 6:55 am | 102 Comments »
Russia Just Denied Claims It Is Planning to Break the US’ Oil Blockade of Cuba, Albeit Only Partially
The US’ suspension of tariffs on countries that provide Cuba with oil (h/t SCOTUS) may, however, provide a window of opportunity to get oil to the island. But which country will take the risk?
Topics: Guest Post
Posted by Nick Corbishley at 6:45 am | 5 Comments »
Iran War Watch: Trump Dithers
Trump looks even more caught than ever on the horns of his Iran war dilemma.
Topics: China, Doomsday scenarios, Economic fundamentals, Energy markets, Middle East, Politics, Russia
Posted by Yves Smith at 5:51 am | 53 Comments »
Ruling for the Rich: Evidence of a Pro-Wealthy Bias on the US Supreme Court
Quelle surprise! The Supreme Court hearts the rich!
Topics: Free markets and their discontents, Guest Post, Income disparity, Legal, Politics, The destruction of the middle class
Posted by Yves Smith at 4:00 am | 15 Comments »
Coffee Break: Local Protests Against Data Centers, Surveillance Uniting Broad Political Spectrum
Local protests against data centers and Flock camera surveillance are coming from both sides of the political spectrum.
Topics: Guest Post
Posted by Nat Wilson Turner at 2:00 pm | 12 Comments »
Trump Pledges Hospital Boat for Greenland—Which, Unlike US, Has ‘Free and Equal Access to Health for All’
“We have a public health service where treatment is free for citizens… It is not like that in the USA, where it costs money to go to the doctor.”
Topics: Health care
Posted by Conor Gallagher at 9:55 am | 12 Comments »
Links 2/23/2026
Topics: Links
Posted by Conor Gallagher at 6:55 am | 132 Comments »
Trump Doubling Down on Tariffs After SCOTUS Nixing Sweeping “Emergency” Abuse: Bad for Businesses, Economy, and Trump
The Trump tariffs mess in the wake of his 6-3 Supreme Court loss on his misuse of “emergency” authority is even worse than you might imagine.
Topics: China, Economic fundamentals, Europe, Federal Reserve, Free markets and their discontents, Globalization, Legal, Politics, Taxes, The destruction of the middle class, The dismal science
Posted by Yves Smith at 6:54 am | 21 Comments »
India Exchanges BRICS Ties for Lead Role in the American AI Cage
New Delhi sells out Russia and its own working class as part of India-Middle East-Europe [digital] Corridor that aims to fortify a new American-Israeli hegemony..
Topics: Energy markets, Europe, India, Russia, Social policy, Social values, Surveillance state, Technology and innovation
Posted by Conor Gallagher at 6:00 am | 21 Comments »
Bibi Put Israel’s Partners in an Awkward Position With His Description of the “Hexagon”
Another demonstration of Israel’s extreme sense of entitlement and intent to become a regional hegemon.
Topics: Guest Post, Middle East, Politics
Posted by Yves Smith at 2:47 am | 22 Comments »
Links 2/22/2026
Topics: Guest Post, Links
Posted by Haig Hovaness at 6:55 am | 144 Comments »
The Sunday Morning Movie Presents: Andrei Rublev (1966) Run Time: 3H 2M plus bonus documentary
Andrei Rublev is a film about art and life in medieval Russia.
Topics: Guest Post, Sunday morning Antidote movie
Posted by semper loquitur at 6:30 am | 6 Comments »
Do You Trust Epstein Elite With Nuclear Weapons?
No arms limitation treaties, few diplomatic channels, AI integration into nuclear command systems, and an elite with Epstein social values. What could go wrong?
Topics: Doomsday scenarios, Ridiculously obvious scams, Social values
Posted by Conor Gallagher at 5:00 am | 21 Comments »



