A Total Failure

“The emerging agreement does not achieve any of Israel’s war objectives. The regime survives, the missile program remains intact, and Iran will be able to rebuild its nuclear program. This is a total failure by Netanyahu, and along the way he is turning us into a vassal state that receives instructions regarding its national security. No press conference, no media spin, and no AI video will hide the failure. The next government will have a historic role: to repair the damage caused by Netanyahu’s inability to turn military achievements into strategic successes.”

That’s a statement by Israel’s former Prime Minister Yair Lapid, who is the current opposition leader. And it’s really little more than acknowledgement of what was pretty obviously inevitable since February.

The fact is that orchestrating green flags, invading multiple other countries, then starting a war with a bigger, much more militarily powerful nation with significant industrial capacity and counting on a foreign nation you are controlling in semi-secret to somehow bail you out is really not the brilliant strategy that the smart boys who concocted it no doubt believed it was.

As a general rule, if you think you’re being clever at the geostrategic level, you’re probably heading straight for defeat and quite possibly for disaster. War is fairly simple. Be there first, with the most, longer than anybody else. It’s that last one that tends to be disregarded by the clever sorts, because there is no way to dance around it, finesse it, or talk your way around it.

So they ignore it.

And we can all see how well that tends to work out, no matter how high-tech your weaponry, deluded your self-belief, or elevated your elan.

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Preparing for the Inevitable

It looks as if Turkey is gearing up for its inevitable war with Israel:

Convening before the Turkish legislature, Erdoğan cast Israel as the architect of a broader scheme to destabilize the Mediterranean, warning that “nobody should chase adventures” or enlist in Israel’s “boat of mischief.” Should any party move against the interests of Turkish nationals or Turkish Cypriots, Erdoğan made plain, Ankara stood ready to deliver a response both clear and strong.

These comments follow a recent statement by Turkey’s interior minister, who declared Saturday that Ankara would one day “liberate” Jerusalem, pledging to restore Turkish dominion over a city governed by the Ottoman Empire for centuries. Israel’s Foreign Ministry fired back sharply, asserting that the “Ottoman Empire is gone” and that Jerusalem “shall remain the eternal capital of Israel.”

Erdoğan added that “Damascus and Beirut are two sister cities of Istanbul. Turkey’s security begins in Aleppo, in Damascus, and in Beirut.” The Turkish president further stated that “we will not tolerate any fait accompli in the lands of our brothers, and we will not turn a blind eye to any attack against our brothers.” He attacked Israel, claiming, “These people and their mercenaries go around throwing so-called threats at Turkey here and there. There is no need for you to say this – we know your intentions and your targets very well. We are fully aware of what the ultimate goal of the ‘Promised Land’ delusion is, and with God’s help, we will never allow it.”

Erdoğan warned that the consequences of Israel’s policies would spread beyond the region: “Just as the entire world is paying today for the unresolved situation in Hormuz, if Israel’s rampaging is not stopped, the price will be paid – together with the region – by all of humanity.”

Erdoğan also issued threats against Greece and Cyprus against the backdrop of those countries’ deepening ties with Israel. “We see that there are those who seek to ignite a fire in the Eastern Mediterranean, and especially on the island of Cyprus. Small entities, whose ambitions far exceed their stature, have boarded Israel’s boat of conflict and taken on the role of proxies for Zionism. They are chasing delusional dreams in the Eastern Mediterranean. I say this clearly: let no one be dragged along by the Zionist massacre gang. If the rights of Turkey and of Turks in Cyprus in the Eastern Mediterranean are harmed, our response will be clear and very strong.”

The Turkish president again compared Prime Minister Benjamin Netanyahu to Adolf Hitler. “Israel, which is carrying out the bloodiest genocide in the history of humanity, simultaneously attacked Iran and, not content with that, also began the occupation of Lebanon,” he said. “85 years ago, silence in the face of Hitler led to the loss of 80 million lives. Today the same mistake is being repeated: the genocide of the Gaza butcher Netanyahu and his cabinet is also being watched in great silence, exactly as was done with Hitler.”

I suspect the Israelis are going to have a much harder time arguing that there is no such thing as a Turkish people or that the Turks have no claim on Jerusalem than they have had with their ahistorical lies about the nonexistence of Palestine or the Palestinian people. And the fact that they’re already losing to Iran doesn’t bode well given the fact that they’ve mostly eliminated what was always their buffer zone in Syria.

Assad was always an enemy, of course, but one danger with defeating a minor enemy on your border is that it creates a new border with a bigger and more dangerous enemy. This, of course, is why there was already one regime change attempt in Turkey – the 2016 failed coup d’etat by the Gulen movement that shows every sign of being a Clown World operation.

This is why World War III is being traced back further than the Ukraine coup of 2014 to the so-called Arab Spring of 2011.

World War III is here. The Arab Spring was the spark that lit the fuse of a global conflict Europe cannot escape

And Covid was definitely part of Clown World’s plan to win through biotechnology what it is losing on the battlefields.

After months of searching through intelligence community holdings and files, today I’m releasing new evidence of longstanding US government funding of more than 120 bio labs in over 30 countries. Now, these bio labs include labs in places like Ukraine, which could be at risk of compromise due to the ongoing Russia-Ukraine war. In fact, the intelligence community had previously warned that a US-funded bio lab in Ukraine likely housed dangerous pathogens and remained vulnerable to longstanding threats of Russian attack, seizure, or damage.

Until now, evidence regarding the full existence and funding of these laboratories had been knowingly withheld from you, the American people. Many of these US government-funded bio labs are currently or have previously engaged in research using hazardous and highly contagious pathogens, and in some cases included dangerous gain of function research with very little visibility or oversight. Now, President Trump clearly understands the serious threat dangerous gain of function research poses to the American people, and this is why he took decisive action over a year ago. On May 25, 2025, he signed an executive order to end federal funding of gain of function research around the world.

Not only did they lie, they threatened those who attempted to expose the truth. So, this release today breaks new ground as the information surrounding the existence, history, locations, and funding of these US-funded bio labs has been intentionally covered up by very powerful people who falsely claimed that these bio labs didn’t exist. Now, they accuse anyone who says otherwise to be foreign assets and traitors to America. Now, ODNI and I will continue working closely with partners across the US government to identify exactly where these labs are and what pathogens they contain to end dangerous gain of function research that threatens the health and well-being of the American people and people around the world.

This is why there are going to be more false flags, green flags, fake pandemics, and vaccine campaigns. Don’t fall for any of them. It’s clowns all the way down. When Clown World calls something a “conspiracy theory” you can be confident that it is not only true, but the truth is even worse than the story being denied.

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The US Agrees to Surrender

Apparently the Short Fake Trump is angry that Iran isn’t permitting him to lie to everyone about the deal being struck to end the latest flareup in the War of the Epstein Alliance.

Iranian state-run Mehr news agency has cited a source close to the Iranian negotiating team to report the 14-point MoU in Farsi. The development comes a day after US President Donald Turmp announced that a deal has been agreed upon conceptually at the highest level of the Iranian leadership.

As per the MoU, the war shall immediately in all theatres, Iran shall declare to never acquire a nuclear weapon, and talks shall commence to resolve the issue of the Iranian nuclear programme. These are the 14 points of the MoU:

  1. Permanent and immediate cessation of war on all fronts, including Lebanon.
  2. US commitment not to interfere in Iran’s internal affairs and to respect the sovereignty of the Islamic Republic of Iran.
  3. Complete lifting of the naval blockade within 30 days.
  4. US commitment to withdraw its forces from areas surrounding Iran.
  5. Reopening of the Strait of Hormuz within 30 days under arrangements determined by Iran.
  6. Suspension of sanctions on the sale of oil, petrochemical products, and their derivatives, along with full Iranian access to the resulting financial resources.
  7. Requirement for the United States and its allies to present reconstruction plans for Iran worth at least $300 billion.
  8. Sixty days of negotiations aimed at reaching a final agreement focused on nuclear issues and the complete removal of US primary and secondary sanctions, as well as relevant resolutions of the UN Security Council and the Board of Governors of the International Atomic Energy Agency (IAEA).
  9. Reaffirmation of Iran’s commitment under the Nuclear Non-Proliferation Treaty (NPT) not to produce nuclear weapons.
  10. During the negotiation period, the United States commits not to increase its military forces in the region and not to impose any new sanctions.
  11. Release of $24 billion in frozen Iranian assets during the 60-day final negotiation period. Half of this amount must be made available to Iran before negotiations begin.
  12. Creation of a monitoring mechanism to ensure implementation of the agreement.
  13. The final agreement will be endorsed by a UN Security Council resolution.
  14. Final negotiations will not begin until half of Iran’s frozen assets have been released, oil sanctions have been suspended, and the naval blockade has been lifted. The final agreement will focus exclusively on: the future of enriched nuclear material and uranium enrichment, sanctions relief, and a program for rebuilding Iran’s economy

Moreover, the MoU explicitly stated that discussions about the Iran’s missile programme and its support for anti-Israel and anti-American groups in the region like Hezbollah, Hamas, and the Houthis —whom the MoU refers to as “resistance groups”— are off the table.

It’s a perfectly reasonable deal which extricates the USA from the conflict, and eventually, the region. Which, of course, is why the Netanyahu regime can be expected to do its best to prevent it from taking effect. But it doesn’t matter what the Zionists in the US want, the US military is simply not able to fight Israel’s wars anymore.

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Round Four Begins

Hal Turner has confirmed that the US military is now attacking Iran. In what appears to be an obvious escalation, it bombed freshwater storage tanks, which suggests that the Iranians will soon be targeting water supplies and desalination facilities in Israel and the Gulf States.


CONFIRMED!  The US is attacking Iran, on Trump’s orders.

Intense fighter jet activity has been reported right now over Basrah, in southern Iraq, in several areas of northern Iraq, and in southern Syria. U.S. Fighter jets accompanied by air-refueling tankers.

UPDATE 7:00 PM EDT —

Iranian opposition sources are reporting preliminary details on the targets allegedly struck by U.S. forces in Iran a short while ago:

Sirik Naval Base

Jask Naval Base

Air defense systems in Bandar Abbas

Coastal missile battery in Minab

Coastal missile battery on Qeshm Island

Port facilities on Qeshm Island

The reported strikes are taking place in the vicinity of the Strait of Hormuz.

UPDATE 7:11 PM EDT —

Now being told the “first wave” of US attacks has completed.  Earlier, I was told there “would be several waves of US attacks.

Iran response already on the way – drones launched.  Missile launches expected within minutes.

UPDATE 7:46 PM EDT —

During its attack, the United States reportedly struck TWO (2) Fresh-water Storage Tanks in Sirik, Iran.

If this is verified, then the US has just given Iran the green light to do the exact same thing to countries hosting US military bases.  

7:52 PM EDT — The attack upon drinking water storage tanks is now CONFIRMED by IRIB which reports all drinking water in the District of Sirik is now cut-off.

As a result of what the U.S. has just done, Iran has warned it will immediately place all regional Gulf energy infrastructure under continuous missile fire, and with this US attack, water desalination infrastructure which the Gulf depends on for over 90%, will specifically become major targets.

The moment any of the desalination plants in these GCC countries are hit, they will effectively cease to exist as functioning states.


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Escalation Initiative

For the first time since 1979, Iran is actually taking the initiative in Israel’s decades-long war against it.

Iran has shifted the entire calculus and achieved something long thought impossible. For years it was considered unthinkable that Iran would ever strike Israel directly, even after Iran was hit first. Then Iran began responding to Israeli attacks, first with ‘demonstrative’ strikes, then increasingly crippling ones.

Now Iran has established total strategic dominance of the escalation ladder to the point where it can treat Israel as Israel has treated other regional countries since its founding, punitively hitting it at will for violations that no longer necessarily include direct attacks on Iran’s home territory.

And the most shocking kicker of it all is that the US cannot do anything about it—and has even told Israel to ignore the attacks and stand down.

For nearly 50 years, Israel has cried wolf about Iran. And now, thanks to its own duplicitous attempts to enact regime change, Iran has not only been able to survive, but seize the initiative. Notice that this is the same way things played out over a much-compressed timeframe during the Iran-Iraq war, as Iran survived the Iraqi attack, gathered its resources, then began invading Iraqi territory after the exhausted Iraqi army ran out of steam.

The USA saved Iraq back then. But the USA is already all but played out in the Persian Gulf.

Larry Johnson has more details about Iran’s new military policy:

As the current head of Iran’s Expediency Discernment Council, chairman Larijani announced that Tehran’s intervention in support of Lebanon constitutes a formal declaration of a new strategic doctrine. Under the terms of this doctrine, attacks on any component of the Resistance Axis (Hezbollah and the Palestinians) will trigger an Iranian response that extends beyond geographical boundaries and reshapes regional equations.

Larijani explained that Iran has entered a new phase in which it no longer waits for threats to emerge before acting to preserve its regional position, but instead will take the initiative. He also warned that any expansion of the conflict or attack on critical Iranian infrastructure would be met with a comprehensive and deterrent response.

This introduces a new, dynamic variable into the calculus of the Levant. This marks the first time since the founding of the Islamic Republic in 1979 that Iran has committed itself to taking military action on behalf of Hezbollah and the Lebanese people, and the Palestinians. The conservative Israeli newspaper, Israel Hayom, reported that security officials admitted Israel did not expect Iran to fully follow through on threats, viewing it as a miscalculation. There was noted frustration that Iran dictated terms via the new “equation” and that Israel faced pressure (including from the U.S./Trump) to limit its response to avoid full war.

As usual, the liars assume everyone else is lying. But why wouldn’t they expect the Iranians are bluffing, when the Arab world has blown very little but hot air since 1948. Except I very much doubt an Iranian military that has defeated the US military and significantly expanded Iranian power in the region is any less inclined to bluff than an Israeli military that is hopped up on its successful regime change in Syria and its success in forcing the US military to join its war in the region.

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Israel Wants War

Whoever is pulling the strings of the Short Fat Trump is going to have to accept the fact that the two choices are between a) abandoning Israel to its self-chosen fate, whatever that might be, or b) suffering an abject defeat in the Middle East now that Israel is attempting to drag the US military back into another round of war with Iran.

Nine days after Iran warned the West, Israel in particular, that any further attacks on Beirut would result in Iran retaliating against Israel, Israel hit the Beirut suburb of Dahiyeh. The attack on Sunday afternoon sent plumes of smoke rising over the suburb, with strikes targeting two apartments in two buildings. Israeli Prime Minister Benjamin Netanyahu’s office announced the attack in the Dahiyeh district, saying it was in retaliation for an earlier Hezbollah strike on Israel. At least two people were killed and 11 wounded in the strike on the densely populated civilian neighborhood, according to Lebanon’s state-run National News Agency.

Iran, as promised, wasted little time in responding and launched 20 missiles in five waves at Israel. Donald Trump called Bibi Netanyahu, telling him to hold off in retaliating against Iran because he anticipated signing a peace deal with Iran. Trump also reportedly told Netanyahu that if Israel decided to retaliate the Israelis would not have US support. What did Netanyahu do? He launched a retaliatory strike using 11 missiles against Iran.

As I write this, Iran is responding with a larger missile launch against Israel and there are visible impacts in Israel despite Israeli claims that the IDF intercepted the missiles. Not to be left on the sidelines, the Houthis joined in by launching a missile at Israel. Media reports blamed the Houthis for also striking the Prince Saud Airbase in Saudi Arabia, but there is no independent confirmation to substantiate that claim. In addition, the Houthis announced they are closing the Bab al-Mandab Strait, which is certain to roil the financial markets. Finally, Hezbollah stepped up its engagement of Israeli targets and launched more missiles and drones into northern Israel.

The IRGC has officially announced the beginning of the ‘Nasr‘ military operation against two major Israeli airbases: Tel Nof and Nevatim.

It’s obvious that Israel wanted to reignite the war, for exactly the same reason they started it. Their odds of avoiding complete defeat are better if the US and its bases are taking the majority of the damage. The interesting question is: why did they restart it via attacking Lebanon? I think there are two reasons.

  1. If they are going to take any new territory, it’s going to be in southern Lebanon.
  2. Striking Iran directly means strikes on all the US military bases in the Gulf States again, and there is a real risk of either the Gulf States kicking out the USA or the USA voluntarily withdrawing its forces and leaving Israel to fight Iran alone.

Given the desperate way in which Trump is shouting “Peace is at hand” in direct contradiction to the evidence, I don’t think it’s a guarantee that the US military fully engages in this round. But if it does, I expect things to go even worse for both the US and Israeli militaries, although Israel does appear to be doing better against Hezbollah since the ceasefire started.

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Work, Brothers

Russia appears to be gearing up for something, if Putin’s coded message to her soldiers is any guide:

Rather than engage with Zelensky’s proposals, Putin turned away from the letter entirely. He said the ones to be addressed were Russia’s combatants and soldiers at the line of contact, telling them:

The country is proud of you and places its hopes on you. We should address not the authors of this letter, nor lovers of the epistolary genre, but our fighters on the front line.

He then closed with the phrase: “Work, brothers!”

To understand the import of that phrase you need to be introduced to Magomed Nurbagandov:

Magomed Nurbagandovich Nurbagandov (January 9, 1985 – July 10, 2016) was a police lieutenant serving in the National Guard of Russia, stationed in Kaspiysk in the Republic of Dagestan. He was a Dargin by nationality, born in the village of Sergokala. By all accounts an exceptional student — he graduated from lyceum with a gold medal and then with honors from the law faculty of Dagestan State University.

On the morning of July 10, 2016, Nurbagandov was vacationing with his family near the village of Sergokala when he was attacked by five armed militants. Having learned he was a policeman, the militants forced him and his brother into the trunk of a stolen car, drove them away from the recreation area, and then shot them. The murder was filmed on a mobile phone and posted on an extremist website. Wikipedia

The militants’ goal was psychological — they wanted him to appear on camera and call on his fellow officers to quit the police and stop fighting. Instead, looking directly at the camera, Nurbagandov urged: “Keep on working, brothers” (Работайте, братья) — an act which took tremendous courage.

The militants had uploaded an edited version of the video where they cut out Nurbagandov’s last words. His defiance was suppressed — until fate intervened. Several militants from the group were killed in September 2016, and when examining the bodies, the mobile phone that had filmed the original, unedited video was found. The full footage — with his final words intact — was then released by Russian authorities. The phrase went viral on September 12, 2016, and became a nationwide sensation.

By invoking it in front of the international audience at SPIEF, Putin was making a layered statement: that Zelensky’s letter was an enemy propaganda exercise, that it deserved to be treated with the same contempt Nurbagandov showed his captors, and that the only people worth addressing are those doing the actual fighting. Putin’s visage was grim when he spoke this phrase.

Now the limits of the US military have been clearly established, it makes sense that Russia no longer feels the need to maintain the holding pattern it has been in for the last three years. And unlike his people, who are primarily focused on Ukraine, and to a lesser extent the European Union, Putin understands that their real enemy is Clown World.

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Comprehensive Failure

No wonder Iran sees no reason to rush into a peace deal. The US military failed in every aspect of the recent war:

CNN found that Iran has now unblocked 50 out of the 69 tunnel entrances struck by the US and Israel at 18 underground missile facilities. Iran has repaired other parts of the bases as well, including roads that the US and Israel bombed to prevent missile launchers from using them. Satellite images show almost all these craters have now been filled, and at two sites, even repaved.

Now the cat’s out of the bag, and the world is exposed to the embarrassing reality that the months of US strikes did virtually nothing to Iran’s military capability, with Trump forced to cover up and save-face by claiming that he “spared” the Iranian military proper because that was somehow favorable to his post-war vision—sure.

The truth is that all the new revelations have unsealed the true aim of US strategy: it was never to totally destroy Iran’s military capability—the US itself never possessed the ability to do so. The aim was to create a brief window of degradation that would allow the Israel-fronted “plan” of overthrowing the Iranian regime to work. The hope was to temporarily slow down and hamper Iran’s military just long enough for the various psyops and false flags to stir up unrest in the country and lead to a Venezuela-style overthrow—but Iran had prepared well, and was not fazed by either prong of the failed operation.

So let’s look at the way the US lost the most recent round of its war with Iran:

  1. Regime change failed
  2. Nuclear prevention failed
  3. Defense of Arab bases failed
  4. Defense of Israel failed
  5. Destruction of military capabilities failed
  6. Strait of Hormuz blocked

About the only thing the US did successfully was to not lose any warships. Which, one notes, could have much more easily been accomplished by not sending them to the Persian Gulf in the first place. And not only did the USA fail in its objectives, but it ended the conflict worse off than when it began.

That is, by every historical measure, a defeat. It’s not an existential one, nor is it necessarily the last word on the international conflict. But the history books will record this as being a defeat of the USA by Iran.

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Report: Iran Has Nukes

81 years of global fear, and 40+ years of neocon warnings, threats, and hissy fits may have just gone up in smoke during a single telephone call:

I have not been given access to NSA Sigint, but I have confirmed that the phone call last week between Iranian President Pezeshkian and Pakistani Prime Minister Shariff was over a non-secure line. I am reliably informed that this was done deliberately by the Iranians and Pakistanis — i.e., the Iranians and Pakistanis were counting on the Americans and the Israelis to be listening in. The key part of the conversation between Pezeshkian and Shariff was this:

President Masoud Pezeshkian communicated a formally structured, three-step strategic ultimatum if US strikes continued:

  1. Immediate Withdrawal from the ongoing nuclear peace talks.
  2. Total Abandonment of the prospective Nuclear Treaty framework.
  3. The Detonation of a Nuclear Device on Iranian soil—executed not as a weapon of war, but as an undeniable demonstration of sovereign capability and ultimate control over the escalation ladder.

When Marco Rubio was called an hour or so later by Pakistan’s Foreign Minister, Ishaq Dar, and received the same message, the White House knew that the information was legitimate. While the US intelligence community probably cannot confirm that Iran actually does have a functioning nuke, the Pakistanis believe the Iranians do. The intercepted chat between Pezeshkian and Shariff, followed by Rubio’s conversation with Ishaq Dar, convinced Trump and his advisors that Iran was not making a hollow threat.

Now we know why there has been a dramatic change in Trump’s rhetoric towards Iran… Hell, he downplayed yesterday’s missile dust up in the Persian Gulf, which left Kuwait’s International Airport on fire from an errant PAC3 Patriot missile.

I am very skeptical that nuclear weapons exist in the form we have been told that they do. Whether they don’t exist at all, which is what I think is the most probable state, or whether they simply aren’t stable to keep ready for more than a week or two, I don’t know. But I’m entirely confident that the whole concept of a “nuclear arsenal” that involves weapons being preserved in a metal shell and ready at the push of a button for decades is a fictional one.

So what Iran “possessing a nuclear weapon” actually signifies could mean that Iran is now willing to end the nuclear charade that ensured US military dominance for the last 70 years, and that it has the permission of China and Russia to do so.

This might explain the need for “alien disclosure” once the threat of nukes and global holocaust is gone.

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War and the Failure of Economics

Steve Keen points out how the economic models that Western military strategists are using are outdated and incorrect Neoclassical economic models that are going to make the ramifications of the war in the Middle East considerably worse regardless of the outcome for the US military:

The Trump-Epstein-Netanyahu War could cause more deaths than any war in history, including World War II. This will not be via its direct casualties, but via deaths caused by its economic and agricultural consequences across the planet. For someone who exalts in superlatives, Trump may be responsible for causing more deaths than any previous tyrant in human history.

This is because the world economic system resembles Trump himself: its self-image is one of robust power, but its inner nature is one of incredible fragility. One month ago, many people would not even have heard of the Strait of Hormuz—which Trump, in his bravado, has just referred to as “the Strait of Trump”. Now everyone knows where it is—if not precisely why it matters. We are about to learn the hard way, via the consequences of cutting off this vital artery in the global economy’s circulatory system.

This should have been common knowledge. But, just like Trump himself, our understanding of the global economy is based on an elaborate set of delusions. I am looking forward to the howls from mainstream “Neoclassical” economists when they hear that I blame most of those delusions on them.

Neoclassical economics has always lulled us into a false sense of security by its asinine assumption that most industries are “competitive”, as they define competition. A “competitive” industry, according to Neoclassical economics, is one in which there are a multitude of producers producing a homogeneous product. This definition is doubly delusional: most industries are dominated by a small number of very large firms; and all products are highly differentiated.

In the Neoclassical world, taking out a few producers would have only a trivial impact on total production, because there are thousands—millions!—of producers, and every producer’s output is a perfect substitute for all other producers’ output. In the real world, most industries are dominated by a handful of large firms, and one firm’s output cannot be easily substituted for another.

We are now finding this out the hard way in the TEN War: Venezuelan oil cannot replace oil from the Persian Gulf, and the key facilities which have been damaged—such as Qatar’s LNG processing plants—can only be repaired by a handful of companies.

Worse, those repairs will take years, whereas the canonical “supply and demand diagram” of Neoclassical economists completely ignores time. In the Neoclassical world, if you want to produce higher output, just increase the price and, hey presto, you move up the supply curve and produce a higher quantity.

In the real world, if you are 25 percent below the desired level of output of LNG—as the world is now, with not only the wartime destruction Qatar’s plants, but also the impact of tropical cyclone Narelle on Australia’s LNG plants—then it will take several years to move up that “supply curve”.

It’s insane to go into what is an industrial war of attrition with knowingly faulty strategic models, because it guarantees that no matter what decisions you are making, they are going to be suboptimal at best, with real potential for catastrophe.

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