Categories Finance

Naked Capitalism Links – July 25, 2026

Dear readers,

In place of the anticipated coverage on the Iran war, we present some additional links focusing on this pressing issue. In summary, Trump has yet to initiate the expected military action against Iran, citing ongoing negotiations. Conversely, Iran has not confirmed this and might deny any talks just ahead of the market opening on Monday. Despite a temporary pause in U.S. actions, Iran continues its offensive maneuvers. Netanyahu is scheduled to visit Washington next week for Lindsey Graham’s memorial, suggesting that Trump’s recent decision to delay military action might be a strategy to finalize plans in collaboration with Israel.

It seems highly unlikely that a minimal Memorandum of Understanding (MOU) could be achieved between Iran and the U.S. In light of the failure to reach an MOU, Iran is poised to raise its demands, particularly concerning control over the Strait of Hormuz and issues relating to frozen assets held by the U.S. Professor Mohamed Marandi has indicated that any new agreement would likely involve a cessation of hostilities in Yemen and Gaza. It is probable that Iran will insist on compensation for its frozen funds as a prerequisite for any cooperation.

Moreover, Iran remains resolute about maintaining its authority over the Strait of Hormuz.

* * *

Ancient ape fossil in Egypt challenges the current narrative of human origins Science Daily (Kevin W)

Contagious Cancer Discovered in North American Catfish Wired (resilc)

Researchers Unearth the Lost ‘Golden Age’ of Languages That Ended 1,000 Years Ago 404 Media

Five Notable Quotes From America’s Largest Raw-Milk Dairy Owner ProPublica (Robin K)

#COVID-19/Pandemics

U.S. Measles Case Count Sets a New Record Associated Press

Climate/Environment

Even camels are struggling: Rising temperatures hit Africa’s ships of the desert BBC

Stranded houseboats and grounded cruise ships: Europe faces shrinking rivers amid heat and drought CNN

Extreme drought in Europe driven by climate crisis ‘sucking soils dry’ Guardian

National Drought Group intensifies its response as the recent heatwave affects water supplies and nature Farming UK

Japan records its first ‘cruelly hot day’ as temperatures soar above 40°C Independent

Global Warming Unmakes Winter in the American West Inside Climate News

China?

China Invokes Live Fire Drills in the Taiwan Strait Reuters

Chinese Chip Stocks Plummet Despite Beijing’s Efforts to Stabilize Asia Times (Kevin W)

China’s Coast Guard Engages in Third Clash with the Philippines Within a Week Bloomberg

Japan

U.S. Warns Against Extreme Yen Volatility, Urges Bank of Japan to Raise Rates Reuters

Tokyo Responds to China’s Assertion That a Remote Japanese Island in the Pacific Is Merely a Rock Japan Today

U.S. and Japan Clash Over Nuclear Liability in 40 Billion Dollar Power Deal Financial Times

India

In India, Fear Has Shifted Sides Aljazeera

India Dismisses Pakistan’s Claims at ASEAN, Insisting the Indus Waters Treaty Will Remain Suspended FirstPost

India’s Discreet Strategy to Challenge China in the Strait of Malacca Brandon Weichert

Southeast Asia

‘We feel like we are failing’: A Myanmar Doctor Speaks Out as Healthcare System Teeters on Edge of Collapse Guardian

Thailand Advances Construction of its Border Fence with Cambodia Bangkok Post

Africa

Trump Considers Military Action in Mali Express

Sudan: Concerns of Atrocities as RSF Encircles a Key City DW

O Canada

Canada Is Prepared to Take All Necessary Measures in Trade Dispute with the U.S., Says Carney AlArabiya

Trump Attempts to Sabotage Canada Bridge Deal Following Opening Ceremony Drama New Republic

South of the Border

What a U.S. Conflict with Cuba Would Truly Entail Responsible Statecraft (resilc)

Trump 2.0 Endorses Bolivia’s Militarized Approach to Suppressing Dissent Inkstick

European Disunion

Europe Loses the LNG Bidding War to Asia WION

Europe Faces Winter with Its Weakest Gas Reserves in 15 Years OilPrice

Trump Pledges to Investigate EU for Fining U.S. Tech Companies BBC (Kevin W)

Chaotic Sanctions Negotiations Uncover Divisions in EU’s Stand Against Russia Euronews. BWAHAHA

The Resurgence of German Megalomania Overton (translated via machine translation) (resilc)

Fears of Food Price Increases After Europe’s Heatwave Ruins Estimated €2 Billion Worth of Crops AOL

Spain Prepares for 47°C Heatwave as Holiday Spots Brace for Extreme Temperatures Independent

Ireland Urged to Press Germany Over Trial of Pro-Palestinian Activist Guardian (Colonel Smithers)

Old Blighty

Omnibus Wankers and Britain’s Sole Pensioner Mic Wright (Colonel Smithers)

Israel vs. The Resistance

Israelis Continue to Showcase Disturbing Behaviors Kim Iversen, YouTube

Israeli Banks Threaten to Disrupt Palestinian Economy, Worsening the Crisis New York Times

Israeli Ministers Conduct Mass Raid on Al-Aqsa Mosque Middle East Eye

“I SEE ISRAEL DISAPPEARING AS A JEWISH STATE” – Col. Larry Wilkerson YouTube (resilc)

Israel Strikes Across South Lebanon Despite Existing ‘Ceasefire’ Agreement Aljazeera

* * *

America Understands Nuclear Weapons But Cannot Build Them Anymore; Share That With the Saudis Sonar 21

Iran War

Daily Digest: 2026-07-25 NO1

Iran Reports No New U.S. Attacks as Tensions Remain High in the Gulf Aljazeera (live feed)

Trump Fumes as Iran War Escalates Without an End in Sight Bloomberg

Iran’s Kurdish Forces in Iraq: A Potential Front on Tehran’s Border NoonPost

The Revolutionary Guard Warns: Stay at Least 500 Meters Away from Locations Where U.S. Forces Are Secretly Stationed Rezistance (Ruben N)

This is particularly humorous given the UK’s limited navy:

Arrests, Denials, and Missing Images: Gulf States’ Reactions to Iranian Strikes France24 (Ruben N)

Fierce Strikes from Iran Hit U.S. Bases; Trump Hesitates on ‘Mass Attack’ Threat | Janta Ka Reporter YouTube

Syraqistan

Pakistan’s Army Chief Commits to Continued Operations Against Militancy in Balochistan Arab News

‘Collapsed’: Roadblocks and Internet Outages Leave Pakistani Kashmir in a State of Uncertainty Aljazeera

New Not-So-Cold War

Shipping Activities on Ukraine’s Black Sea Corridor Suspended Due to Rising Attacks Maritime Executive

Ukrainian Drone Attacks Ignite Wildberries Warehouses Throughout Russia Novinite

The Sixth Red Scare: It’s Not the Second Undiplomatic (Micael T)

Dro-ligarch Conflicts Events in Ukraine

Imperial Collapse Watch

New Surveillance Technologies Signal the End of Military Concealment Asia Times (Kevin W)

Cyclospora Outbreak Expands to Nine U.S. States, Health Officials Warn BBC (Kevin W)

Trump 2.0

Trump Orders Warnings to be Placed at the ‘Inaccurate’ Smithsonian History Museum New York Times (Kevin W)

Tariffs

Trump Implements New Double-Digit Tariffs on Numerous Nations Aljazeera

Asia Challenges Forced Labor Allegations Used to Rationalize Recent U.S. Tariffs Straits News

Tariffs Re appear Barry Ritholtz (resilc)

Immigration

Rural States Demand More Immigration Green Gazette (Robin K)

Report: Numerous ICE and CBP Agents Have Engaged in Abusing Women and Children Mother Jones

Democrats in Disarray

Democrats Dismiss Concerns Within Party Over the Threat Posed by Democratic Socialists The Hill

Our Media Landscape

The Resistance: Liberal Lawyers Aiding Trump in Media Takeover Matt Stoller

Economy

Running on Borrowed Time: The World’s Oil Reserves Are Depleting Amid Inflation Pressure CNBC

Why Is the Energy Crisis Delayed? Will Oil Become This Century’s Black Swan Event? An Examination of the Mechanisms Ismaele (Ruben N)

OIL PRICE MANIPULATION IS UNRAVELING – Discussion with Philip Pilkington YouTube

Yemen Intensifies: A New Threat to Global Oil Supplies Larry Johnson

U.S. Refinery Utilization Reaches 96.2% as Global Fuel Markets Contract OilPrice

Middle Eastern Conflict Sends Shockwaves Through Global Gas Markets AzerNews

Increase in Shipping Insurance Costs as Hormuz and Bab al-Mandeb Close Aljazeera

Investor Alert: Rare Earth Mining Is Not Delivering Returns Kevin Walmsley (Kevin W)

Concerns Over El Niño Impact Prompt Carrier Surcharges and New Draft Restrictions at the Panama Canal WWD. I previously removed Panama from my list of potential expat destinations due to its poor food security and ongoing water shortages.

Mr. Market’s Concerns Should Heighten

Global Reliance on U.S. Equities Raises Red Flags, Along with Concerns Around Chinese Corporate Debt Bloomberg

AI Debt Competing with Treasuries Contributes to Elevated U.S. Yields Bloomberg

AI Concerns

Meet All the Middle-Aged Women Who Do Not Exist Charlotte’s Book (resilc)

Barclays Analysts Report AI Is Not Enhancing Productivity Telegraph

AXA Cautions AI Cannot Replace Care as UK Faces Mental Health Emergency Insurance Business Magazine

Google Announces a $6 Billion Cash Burn Last Quarter as It Increases AI Investment Financial Times

AI Companies are Concealing More Debt Than You Realize | Ed Zitron YouTube

The Hidden Debt of U.S. Tech Giants Rises to $1.65 Trillion MSN

Guillotine Watch

Elon’s Terribly Awful Day Caleb Ecarna

SpaceX Merging with Tesla Amidst Stock Decline – Bet Against Elon Musk YouTube (resilc)

Tesla Shares Experience Double-Digit Drop on the Company’s Worst Day in Years Guardian

Class Warfare

New Fed Research Suggests Significantly Fewer Americans Own Homes than Previously Thought CBS (Kevin W)

Antidote du Jour (via):

A Bonus

A Second Bonus:

And A Third:

For yesterday’s links and Antidote du Jour, you can find them here.

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