Podcasts about Suez Canal

Procurement Says No is now sponsored by Kodiak Hub - The SRM suite that makes you super smart.  Check you out with your splendid fancy pants.  www.KodiakHub.comMeanwhile it's almost time to set fire to the sky as various AI agents begin to attack one another in an "unprecedented" AI cyber-attack.  Oooops.   Don't worry, it's all contained in the sandbox, no wait...Also in this episode...UK Military work out the best place to buy grenades.  Not.CIPS funds the promotion of deforestation-free procurement in Wales.More Trump tariffs - this time for slavery in supply chains.It turns out that diamonds aren't forever.Who knew that the Suez Canal keeps closing and re-opening.New UK Government - sort of.Theme of resilience in procurement remains, er, resilient.Sainsbury's chicken eggs white supremacy madness.All this plus more on our wonderful "Ask Rich and Ed bot" AI companion app - which will answer all of your questions with genius and brilliance.  We couldn't believe it!    You won't either - so click the link below to be amazed...https://mentaraiq.com/share/chatbot/0e874f81-612c-46e5-8c7d-b1a8fc7ee544And, yes there is a drone called the T-400.  Not quite as good as the T-600.   Yet.Become a supporter of this podcast: https://www.spreaker.com/podcast/procurement-says-no--5886102/support.

On the DSR Daily for Thursday, we break down new reports that the economy is in worse shape than predicted, new Iranian strikes near the Suez Canal, Elon Musk's attempt to block anti-nudification legislation in Minnesota, and more.  Learn more about your ad choices. Visit megaphone.fm/adchoices

On the DSR Daily for Thursday, we break down new reports that the economy is in worse shape than predicted, new Iranian strikes near the Suez Canal, Elon Musk's attempt to block anti-nudification legislation in Minnesota, and more.  Learn more about your ad choices. Visit megaphone.fm/adchoices

On the DSR Daily for Thursday, we break down new reports that the economy is in worse shape than predicted, new Iranian strikes near the Suez Canal, Elon Musk's attempt to block anti-nudification legislation in Minnesota, and more.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Milk already feels tight across much of the U.S. That could be the setup for a perfect storm. Summer heat, warm nights, wildfire smoke and plant disruptions have pressured milk production and moved milk into unexpected places. Now, Class I bottlers are preparing for schools to reopen just as cheese plants, protein beverage manufacturers and other processors compete for the same milk solids. In this episode of The Milk Check, guest host Josh White and the Jacoby team break down what could make August, September and October especially interesting for dairy markets. We cover: How heat, smoke and limited nighttime cooling affected milk production Why school bottling demand could tighten the market further How the cybersecurity disruption temporarily increased condensed skim availability How conflict, Red Sea risk and higher freight costs are complicating dairy exports The dairy market is not moving in a straight line. But competition for milk solids is building, and the next few months could determine which product sectors get the milk they need. Listen to The Milk Check episode 103: The Perfect Storm for Milk Solids. Also available on: Amazon Music, Apple Podcasts, Spotify, and YouTube. Got questions? We'd love to hear them. Submit below, and we might answer it on the show. Ask The Milk Check Transcript: [Opening commercial] Josh White: [00:00:00] Coming up on the Milk Check. Jennifer S. Kuo: The Red Sea seems to be an issue now as well. Tyler Jokerst: Yeah. Josh, if the Houthis are getting involved, when you’re looking at Yemen that’s a direct effect on the Red Sea, which is the other half of that peninsula . And then it starts to limit the only access point that you can have into the Red Sea being through the Suez Canal. Josh White: ​In absence of our fearless leader, Ted we invite our audience to join us for one of our bi-weekly commercial meetings, where our group gets together and breaks down the market based on our individual disciplines. Today’s group is a fairly large one but we have members representing our fluid team, our ultrafiltered and cream team, cheese, butterfat, milk powder, and whey, which makes up our trading group.  We’re in the dog days of summer right now, schools are out, families are traveling. There’s people out of the office not making decisions. That’s happening both in the U.S. and in Europe. Let’s touch on current market, climate, what we’re experiencing, and then what we’re paying attention to or looking out for in 30 days time. Let’s start with where we’re at on the milk side of things. Greg, both you and Jared, have experienced a little turbulence over the past week or so with some milk movements. We’re just coming out of a big heat stretch. We’re on the cusp of the South starting to refill its bottling pipelines. What are you feeling and seeing right now, Greg? Greg Scheer: We’ve had some plant closures that have pushed milk around the Mideast, the Northeast, and, around the country. We have had a week or two of that. The first heat wave, back several weeks ago, hit the cows harder than expected, and I’m wondering if maybe that’s the age of the herd is a little older that maybe it hit them a little more. Usually, you have a heat wave, the cows recover some. Normal summer, they get another heat wave, and then, it hits them a little harder the second time or third time. Seems like the first heat wave hit the cows a little harder. I think production’s down just a little bit more than we expected or earlier than maybe a normal summer. Other than plant problems that push milk around, it feels tight. We get to next month, schools start up again or are about to, and bottlers start putting milk into the bottle for schools, then it’s gonna get really tight and could be tight through September, October when maybe production comes back a little bit and the pipeline gets filled, and then it levels off demand a little bit. It feels tight other than plant closures. It’s gonna get really tight in a month. And, we’ll see where it goes. But production does seems like it was hit harder. I’m just wondering if maybe the age of the herd may have a little bit to do with it. Josh White: It was also pretty warm nights for the Midwest. It’s pretty well documented that above 70s: tough on cows; below 70s: allows them to recover nicely. I’m in Gurnee, Illinois, which is Grand Rapids [00:03:00] latitude on the Michigan side. For us to get nights above 70 is rare. And we just went through a pretty good stretch where we had a lot of them. The entire Mideast and the Midwest, we went through a solid four or five days of pretty bad smoke. At least our area was bad enough that just walking outside to get your mail, you could taste it. So I can’t imagine that helped anything. Greg Scheer: How much it hurt is hard to quantify maybe, but definitely didn’t help things. Josh White: Are we still really talking about two different countries, more or less? California, everything seems to be fine. They’re running great. They’re just pumping out milk, and then the rest of the country where it feels a little tighter? Greg Scheer: That’s the sense I get everybody I talk to. Yes. You’ve got California on an island there just filling up their plants, and everybody else in a tighter feel, all the way from the Upper Midwest, Mideast, Northeast. And then as you mentioned, I do think the pull to the Southeast will be starting fairly soon as their production slows, and by mid-August when they’re bottling for schools it’ll really get tight. Josh White: Europe is also talking about some of the same things. Heat sounds like it’s impacted France the most. Germany’s been pretty resilient. Everything I’ve read or heard is that in the recent weeks, people have taken their milk production forecast for the remainder of the year down in Europe, and by a noteworthy amount. To be clear, I think most expect European milk production for 2026 to be higher than it was in 2025, but it’s been notably higher through June. And looking ahead, for them to be taking those numbers down to modest growth means that they’re expecting year-over-year numbers to be down the second half of the year. So Europe seems to be slowing its rate of growth. Curious to what that means going into 2027. We seem to be making good milk, and we’ve got plenty of ability to process it, but the rest of the world feels like it’s starting to slow its growth rate, and maybe start to slow down as we look ahead to 2027. Class I plants looking to start filling up a bit in the next two to four weeks. Jared, what’s that mean for you and your team and your products? Jared Miklasz: Yeah, moving over to the condensed and fluid skim side, the market has become noticeably longer over the past couple weeks, and the obvious driver there was the disruption that Fairlife experienced, which affected multiple plants across the country. With those plants still operating below full capacity following that cybersecurity event, milk that would have normally went into their UF and finished protein beverages has been redirected into balancing outlets which, in turn, made condensed skim much more available, and that increased availability was real. We saw a lot more local offers as a result. As operations normalize and those plants continue to ramp up, I would expect some of that excess product to be reabsorbed, although the timing remains still uncertain. Condensed skim has been tight for much of the year. Obviously, that’s been supported by the steady Demand from both Class II and III. And the strong nonfat demand has also kept skim solids competitive. As those dryers continue to pull available skim [00:06:00] away from the condensed markets school milk will also begin here, as Greg alluded to, which should move more milk back into the bottling programs and further reduce the amount of condensed skim available for manufacturing for these Q4 months. Moving over to the UF side of things, that continues to have the strongest long-term demand story. We’ve touched on it almost every podcast, but high-protein dairy appears to have real staying power. Demand is coming from athletes, consumers focused on weight management, older adults trying to maintain muscle. And that’s even beyond the folks using the GLP-1 medications who are told to prioritize protein. That demand also extends well beyond protein shakes. It’s into yogurt, lactose-reduced products, other nutritional beverages, other applications that require greater control over protein, lactose and total solids. But the other key part of that is the cheese, as that’s an important outlet for UF. As those butterfat levels in the farm milk continue to rise, high protein UF can help rebalance that cheese vat and improve yields. The challenge is that cheese makers are competing with higher value protein beverage and yogurt for that same UF supply. More UF capacity is expected to come online, though, here later this year and into ’27, but that does not necessarily mean that the market will become over-supplied. I think the key question is whether capacity grows faster than the demand. The category obviously remains strong, although that increased competition from a wider retail perspective and potential consolidation could eventually slow growth. But so far that demand has continued to outperform expectations. That strong UF demand also tightens the broader skim market because, obviously that milk is moving into UF and no longer available for condensed skim or nonfat. But, overall improving milk production should create more opportunities, particularly in the skim market. However, that strong demand has regional processing constraints and plant reliability all play key factors here long term. Josh White: So we’re probably not gonna be moving in a straight line here, right? As production responds, we’re trying to anticipate how demand continues to grow. We definitely know it’s in vogue. It seems structural, like that we would see more of these protein-enhanced consumer products coming online that are using liquid protein, as well as the popularity of the whey products and some of the others. But over the course of the next 30, 60 days, how are you feeling like that balances out? I heard you mention that we don’t really see a lot more UF coming on until maybe later in the year. In the meantime, if I’m mapping this out correctly, particularly in the eastern half of the country, we’re already snug milk. We have a lot of capacity for cheese that has been filling. We got hit with some heat, and we’re trying to digest the impact on milk production, but we believe there’s been some already in mid-July. And Class I’s gonna start to ramp up in August, and at the moment it feels to me like we’re gonna be competing pretty heavily in all of these sectors for the available milk solids that are out there, and it’s already snug [00:09:00] before the Class I starts to pull their share. Jared Miklasz: Yeah, it feels like a perfect storm here. Everyone’s competing for those solids in the back half of this year before that additional capacity comes online to meet some of that demand. And that competition’s been playing out all summer, but I think it’ll really heat up as we get into August and September, and October, and schools start ramping up, and all, everything aligns there. So I think it’ll be very interesting to see, if any product sectors get shorted.  On the protein beverage side they have shelves to make sure they stock and keep that space at the big box stores as well. So I think they’re gonna try to get their milk, but you alluded to it, these, investments on the cheese side, they’re gonna wanna keep those plants full. Jared Miklasz: So it’s gonna be interesting to watch. Josh White: June milk production was a little bit higher than maybe most expected, 2.3% for the country, if I read it right. But most of that heat impact has been in recent weeks, right? The recent three weeks, so since July. We’re looking at a milk production number that’s dated, but we’re experiencing a milk production climate right now that seems to be a little bit tighter for a variety of reasons. But probably one of the bigger one is normal seasonal summertime heat, but may be coming on a bit earlier than expected and a bit stronger than we’re used to at this point in time. We’ve had more headwinds in July. Let’s talk cream for a second. Butter is moving counter seasonally.  Overall, the market still feels heavy, but normally this time of year we wouldn’t be moving in the direction that we are. So let’s go with where everything starts. What’s happening on the cream side of things? Jared Miklasz: Yeah, fat remains tight, which has been, somewhat surprising given the amount of milk being separated for the high-protein beverages and all the value-added skim products that we just talked about. As those markets continue to grow, obviously that generates butterfat and that has to find a home. But based on that, I, I would’ve expected more cream to be available, but instead that market has continued to absorb it. Butter is currently trading in the 155 to 160 range, well below levels that we saw last year. And at those levels, cream is much easier for the manufacturers to use in ice cream, cultured dairy, cream cheese, and other Class II applications. It reduces that risk far as finished product and carrying less value. but part of that may be the manufacturers that, you know, adding that fat back into formulations after pulling back when butter prices were much higher. Lower fat cost obviously as far as the taste and texture can improve flavor and yield across the board for a range of products. Even with the stronger milk production and continued growth in the farm level butterfat I do not expect that the cream market is suddenly gonna become long, particularly during these summer months and with the heat that’s still on the horizon and pressure on both milk and volume and components. Over time, the additional milk and fat production should help bring the market back into better balance. But right now, it’s been long. That processing capacity will remain just as important as the total volume that’s being produced. Josh White: Is Class II performance still very strong this year? Jared Miklasz: It is, yeah. They’re the ones that are soaking up the majority of that fat right now. Josh White: Do we have a sense for if we had to try to measure the whole category, and I realize there’s a lot of products that go [00:12:00] into that category, it’s pretty difficult to paint the broad brush. But do we have a sense for are people looking at current markets as an opportunity to build structural inventory, or are they just moving that much more at the shelf? Jared Miklasz: I don’t have a good answer for that one, man. Josh White: Yeah, I don’t either. It’d be curious. ‘Cause if our Class II performance, we’ve seen just domestic performance in certain products look really well year to date. Like the amount of nonfat that’s been consumed domestically, the Class II numbers suggest that things are going really well in, in those markets. I’m just curious if consumer demand is up that much for some of these because maybe pricing promotions or other things, or if there’s been some structural stock building in anticipation of needs the rest of the year. Let’s move on. Let’s talk about cheese a bit. Cheese just made a pretty decent move higher. In Europe similar things, mozzarella prices have really started to move higher in Europe. And now all of a sudden with the U.S. moving higher and European cheddar quite a bit lower than the bounce they saw on their mozzarella, we’re not maybe in quite as an advantageous price position internationally as we were before. How do we see that playing out? Jeff Daanen: You just wonder the real effect is it gonna be for a month or two when we see what happens and how much cheese is out there. But there is cheese available. If you wanted extra loads, they are there. We’re pretty heavy in cheese. The only thing that we don’t have a lot of right now is mozzarella. A lot of that had to do with the World Cup, and there’s some plants that shut down for maintenance. Like Jared said, it was kinda like the perfect storm. plants shut down. People were eating a lot of pizza because of the World Cup, a lot of house parties and stuff like that. But in about another month we’ll be out of this, and there’ll be plenty of mozzarella available. Jennifer S. Kuo: Our price is a lot higher right now than compared to Europe. especially in the Middle East, and even in Asia still, so many people delayed what they would’ve normally ordered in Q2 and going into Q3 because of all the uncertainty, the much higher fuel costs. Everybody has depleted their inventory. And despite our higher prices, we are still getting many requests now still from the Middle East. Pricing really isn’t an issue. It’s just how soon can you ship, and how soon can you guarantee that it’ll get here? So price does not seem to be the barrier right now. Everybody has used their inventory, and they all need to restock. We have the supply. They’re willing to pay a little more. Europe hasn’t really been a conversation with any of our customers. They have not really tried to push back and say, “Europe is better priced right now.” But yeah, the demand is definitely there right now, despite the jump in our market recently. Josh White: Interesting. So it feels like the international demand’s there. The customer’s de-stocked. But at least for products other than mozzarella, we feel really heavy domestically. Is that still accurate? Jennifer S. Kuo: Yeah. Yes. Yeah. But we are seeing the demand in the Middle East is not just for mozzarella right now. It is more geared towards [00:15:00] cheddar. We are getting more inquiries for cheddar than mozzarella right now, which is good for us, both white and color. Tyler Jokerst: Obvious barriers there or risk can be tied around the current situation in Iran as well. Jennifer S. Kuo: The Red Sea seems to be an issue now as well. Tyler Jokerst: Yeah. Josh, you’re dealing with updated issues if the Houthis are getting involved, when you’re looking at Yemen that’s a direct effect on the Red Sea, which is the other half of that peninsula . And then it starts to limit the only access point that you can have into the Red Sea being through the Suez Canal. So it can create a major supply chain choke point for just anybody trying to get any kind of imports into the region. Josh White: Including Europe, right? Tyler Jokerst: Yeah, because, that tends to be a route that can cut down on transit times. So you can run into situations where you might have to go around the Cape of Good Hope to get where you need to get. So it can cause a lot of complications across the board. Josh White: So, you got an international market that does demand product. They’re not well covered, but we’re constantly fighting our ability to access and supply that demand. Same story two months later. Jennifer S. Kuo: Yeah, and freight has doubled, And that did not seem to be a barrier. Tyler Jokerst: Nope. Josh White: Demand seems resilient then, huh? Tyler Jokerst: Yeah, so I guess Josh, not being too familiar on the dairy side, still learning a lot I would imagine that means the price difference there is significant enough where historically logistics has been a major barrier for U.S. product getting international. I think that clearly the opportunities continue to make themselves clearer for international growth with U.S. dairy product. Josh White: If we could wave a wand and the conflict was over tomorrow, which is not likely, I understand that, do we think that customers are going to step in heavily and demand’s gonna feel strong at that moment because they’re not getting an adequate amount of product? Or have they been purchasing to be safe all along and trying to stay ahead of their needs? Jennifer S. Kuo: I think they’ve been trying to wait it out, and they keep thinking, “Oh, okay, it’s, the war is over, the war is over,” and it keeps restarting. I don’t think they have any inventory now. They wanna know how fast can you get it here and how much. Josh White: Specifically as it relates to the Iran conflict, where are we at in terms of demand destruction? Because when we started these conversations, and I think we had Cefetra on a call probably almost two months ago now, and we asked the question: how long does this have to go on before it goes into notable demand destruction within the region because people can’t import the raw materials they need to make the products that they consume? If price isn’t, really the barrier at the moment, it still is access to the supply. I think at that point in time we talked about August sort of being, like, the magic month to where if this lasts into August, we’re gonna start to really hurt dairy consumption within the region. Jennifer S. Kuo: I think that’s still the magical question we’re trying to find the answer to. Tyler Jokerst: The war is prolonging the situation. It could’ve happened by now, but that huge variable is not really giving us a good read. Josh White: Do we think the answer is gonna be universally the same between milk [00:18:00] powders, butterfat, and cheese, or is it different for different products? Jennifer S. Kuo: The answer’s the same because it’s availability. They’re all on the same boats, right? Yeah. You don’t ship cheese separately from powder separately from butter. I think it’s all just access based. Josh White: I’ll clarify the question. It’s less about the ability to get the product and more about at what point in the timeline when you can’t get it conveniently, do you start to have demand destruction on the consumer level? Because you can’t get the cheese, which you will find its way to retail, the butterfat, which is largely an ingredient for processed cheese applications and other things, the milk powders, which serve some of the same and some different manufacturing products. All three of them overlap each other like a chain, but the cheese is closest to consumer. The butterfat is very close to consumer as an ingredient making some of these processed cheese products and other things, milk powder is going into some of that, but then also as an ingredient maybe in other applications like bakery and some consumer packaged goods. If we get into August, which of those areas is most vulnerable? Is it the consumer products because they really are bringing it in just in time, they have to make what they make they’re considered more luxury type items that, you can cut from your diet if you can’t get it versus maybe something along the lines of manufactured products that they may have more deep inventories of, and they will run out, but they might not be running out until September or beyond. At this moment I don’t get the impression talking to European colleagues, talking within our own team in the different product categories, it doesn’t feel like material demand destruction yet. It seems like we’re still finding a way to get some product in, seems like they’re still willing to pay for product, seems like some stuff’s still happening. It’s just at some moment that will come to a head, I think. And we initially expected by August it would become a real problem that meant we’re going to be missing dairy demand out of that region. And we’re knocking on the door of August. Josh White: We’ll be right back after these messages. Diego Carvallo: I’m Diego Carballo with T.C. Jacoby & Co.. T.C. Jacoby & Co. specializes in international dairy markets. For new customers that haven’t done business with Jacoby, I would tell them that we can provide them with many of the powders, dairy products that they consume, not only with the physical product, but we can also help them mitigate their risk. We know dairy. We know the main players. We know the main providers for the whole value chain. We are one of the strongest players in the U.S. market because we have contact all the way from the farmer moving the liquid milk all the way to the end users that buy the end products. I am Diego Carballo with T.C. Jacoby & Co., and we bring dairy to the world. Josh White: Let’s shift gears. Diego, let’s talk a bit about nonfat dry milk, skim milk powder, and what’s happening, globally [00:21:00] there. Yesterday, we had a firm GDT. What does that tell you? Diego Carvallo: We’ve seen the market under heavy pressure, mainly in the U.S., which was the market that was the most expensive for the past I would say six months. It seems like the U.S. market is going back into a price range where we’re competitive internationally. And that had to happen because the U.S., as we’ve mentioned before, we need to export about two out of three loads that we manufacture in the U.S. for nonfat. And we were not competitive for a long period of time. Our prices were $400 to even $1,000 per metric ton higher than European prices. And now that we finally have plenty of availability we have to find a price where exports become competitive again. And that’s what’s happened. In the past few weeks, we’ve had a few additional factors that have added pressure to prices, and that’s what Jared mentioned on plant interruptions in the U.S. And that’s definitely shifted some skim milk concentrate and some products to the drying towers. And that’s adding a lot of pressure onto prices. We’re seeing more inventory, more product availability from the manufacturers. The market is looking for other outlets, and those outlets are in the Middle East, in Asia, and other places, maybe South America, where the cost of the freight has gone up to an extent where we’re paying probably twice what we used to pay. So the exports price has to come down so that we’re competitive again. We should find some support in the current levels. We’re close to the $1.40s and the physical offers are even lower than that especially for SMP. For SMP, we’re seeing offers close to the $1.35, which is ten cents under the current futures. And I think at that level, we’re starting to be competitive even with a more expensive freight rate. I think we should find support unless we start seeing Europe trend lower and New Zealand prices also trending lower, which hasn’t happened at this point. A lot of availability around and not too many customers looking for product at this moment. Josh White: Okay, on the whey product side, it is absolutely the definition of a summer market right now. I think after two quarters of prices constantly moving up for whey proteins, and the whey market trying to rebalance so many changes over the past year. Over the course of 2025 and into early 2026, we saw a lot of large sweet whey powder producers upgrade their facilities to higher protein WPC80 or WPI. At the same time, there was the commissioning of a very large sweet whey powder facility in Texas that is offsetting the production that we’ve lost, and that’s been a bit turbulent. And that just means that we’re exchanging approved brands for both domestic [00:24:00] customers and international customers for a new brand that needs to be approved. And so we’ve seen a trading range for sweet whey powder that’s been 60 to 70 cents for quite a while. But the actual spot market has seen a lot more basis volatility. New brands trying to buy their way into business, brands that remained that have legacy or approvals for perhaps Asian clientele in a market that seems to be pretty short right now, they’re getting bigger basis premiums. So sweet whey powder has been largely range-bound, but that doesn’t really tell the story. It’s been a big shift in who has the product and where that product can go. On the protein side that story’s pretty well-documented and well-reported at the moment. It is shockingly resilient. Diego mentioned that milk proteins are realizing the benefits of this health and wellness movement. Some of the current trade relationships might be supportive of milk proteins. Aside from that, we’re just seeing more demand, people formulating to it, buying more and using more of it. Jared talked about the UF side of things and how there’s just new demand creation in a lot of different categories from beverage to, some of the other Class II products. The whey category remains just on fire. It seems to be both products. Now, we had two quarters in a row where people were terrified they couldn’t get access to supply, and they watched pricing increase by 20-plus percent. Now we get into the summer and pricing hasn’t increased over the last few weeks, and that’s making some people nervous. You’ve got a lot of people out there that are like, “Oh, it’s not gonna continuously go up. does that mean this market’s going to crash?” It’s always possible, of course. These markets don’t move one-directionally. We should expect a retracement at some moment in time. But everything I read from the consumer demand aspect of it, I don’t see any cracks in the floor. What I see is we’ve moved pricing up so rapidly that now that people are going into the summer months and maybe taking some holidays, if they come back in August and need to replenish, this thing goes right back up. If they come into August and find out that the movements on the shelf at the grocery stores have slowed as much of a price increase we’ve seen, we should look out. So I’m not in either camp right now. I guess I’m a little bit more of the belief that the consumer profile seems to be growing, seems to be willing to pay the prices that we’ve seen. And every time we start to think that the GLP-1 catalyst will end or mature, the GLP-1 drug gets cheaper, you can take it in a different form, and a larger percentage of Americans are actively using the drug. I’m also starting to see the GLP-1 aspect of the protein market get reported in Europe more. We have to remember, the U.S. market is nowhere near mature and in terms of its adoption of GLP-1 as a weight loss tool, consumers are educating themselves at a rapid level, trying to understand what the right foods are, and dairy seems to be on the right side of that discussion. Whey protein maybe being the biggest beneficiary. Milk proteins, though, certainly [00:27:00] a beneficiary. And the rest of the world still can follow. So I don’t know. I remain pretty bullish protein overall, but I think it would be irresponsible to assume that this is a one-directional market, and that it’s just gonna resume an uptrend as we get past the summer slowdown that we’re experiencing in North America and Europe. We need to be aware of what some of the potential upside shocks could be to the market as the globe enters those months where we produce the least amount of milk. We should keep our eye on a few potential shocks. Not all to the upside, some to the downside but I think we’re vulnerable to see maybe a little bit of volatility in the months to come. Let’s go through the group as sort of kind of a fun round the table. Most important discussion or impactful thing in the past week that has your attention. So Tristan, let’s start with you. Tristan Suellentrop: One of the most notable developments is the continued shift towards milk proteins. As WPC80 and WPI prices remain expensive and a little bit more difficult to source, I’ve noticed more people are evaluating MPCs as a partial replacement which is creating stronger demand across the entire high proteins category.  Kait, how about you? Kait Holzschuh: There does seem to be a lot of demand for whey permeate and lactose abroad that you just don’t see in the U.S., so I find that kinda interesting. Josh White: Yeah, good point. We didn’t touch on that, but it started with lactose, and now it’s even cascaded to whey permeate. The amount of inquiries that we’ve received in the past couple weeks across all sectors: international feed sectors, international food sectors, domestic food, and domestic feed. There’s clearly it’s clearly a tight market. Great point. Thank you. Miguel? Miguel Aragón: It might be just isolated to Mexico, but there is a glut of cheese in Mexico. When we were in the $1.40s, probably, a lot of cheese made its way down there, and it has affected the market right now. With the prices now, the hope of the customers that we talk to is that things will level off. But right now, still a lot of cheese, a lot of cheap cheese in Mexico. It affects current business right now. And the second one is demand during World Cup was not as good as expected, and this comes from the Association of Supermarkets and Convenience Stores in Mexico. So two things that really caught my eye in the last two weeks. Josh White: How do we feel the same question would be answered in the U.S.? Do we think that the World Cup impact on demand was worse than, equal to, or better than expected? Jeff Daanen: I think it was better than expected. Because when this first came out, I didn’t think that it would impact a whole lot. But when it was all said and done, it just seems like the snack part of the cheese business really took off, along with pizzas. I think there were a lot of pizzas consumed. That’s why mozzarella’s really tight, and it probably will be for at least another month or so. Josh White: Jonathan? Jonathan B. Powers: Yeah, I think probably the most impactful thing is talking about WPC [00:30:00] 34 and nonfat. Nonfat and SMP hasn’t been readily available in the Midwest, and there’s a need for that protein range in the calf milk replacer world, and we’re starting to get a lot more conversations around stockpiles for those products. As we’ve discussed, WPC 34 is kind of a dying product. There’s not a lot of people that are making it anymore, and there seems to be a lot of companies, even in the food space, that are still very reliant on it and trying to satisfy the need for it when it isn’t necessarily available. We’ve had people reach out for permeating lactose. The volume of requests has been astonishing, honestly. Josh White: Manuel? Miguel Aragón: Where I have a lot of my focus is cheese in general. It just feels like there is something brewing right now. Technically, it’s entered a uptrend right now again and it’s still choppy, right? At least on the futures board. But it feels like there’s opportunities there and yeah. So I’m just soaking up everything I can hear about cheese right now and really try to get a feeling for the market there. Besides that, nonfat is just shaving off more and more. We basically broke the support we had for a long time now, so it really feels like it’s on another leg down. Yeah, we’re gonna see how that plays out. I personally also think we’re gonna find support in the 140s. We might test a little lower than that, but at some point, it should stall and become a little more stable. Josh White: Diego, based on what you said about S&P in the 130s and then what Manuel just said about the technical support and what that looks like, that kind of aligns, right? Because I think I heard you make the comment that as we, a 140 nonfat, you can make S&P cheaper for those that don’t really pay attention to the difference. Lactose is really tight, too. Do we think that there’s a connection to why the milk sugars are tight, and all of a sudden, we are seeing pricing that’s a little bit more SMP competitive globally? Diego Carvallo: I do think that there is, yeah. We made very little SMP for the first six months of the year because it wouldn’t make any sense to export when we’re $1,000 higher than European markets. Now that we’re competitive, it does make a lot of sense to make SMP, especially when protein is very high and you can take it down with a cheap product like lactose or milk permeate. It makes sense to find demand in other markets for the SMP. So I do think that the demand for the carbohydrates has picked up now that nonfat has become competitive again. ​ Josh White: For the benefit of everyone so we’re all talking the same language, nonfat dry milk and SMP are typically universally used in applications, but they’re very different products. What we call nonfat dry milk is an unstandardized product. That specification is a minimum protein percent of 34. But today’s productivity [00:33:00] of components in our milk supply, the average unstandardized protein level in nonfat dry milk is pushing 38 or more percent at least 37 and a half in most times. Now, the rest of the world standardizes their product, and they standardize to either one of two things: 32%, which is the old Codex, 34%, which I think is a little bit more common. Or at least it’s common out of the U.S. that we would standardize to 34%. When we say why would there be a connection between lactose and milk powder, you can add lactose or milk permeate to your nonfat supply to bring the protein down to a standard level. So when we stay standardized, that’s what we mean, where they’re basically bringing it to a 34% protein, most commonly out of the U.S., and then that allows us to compete for international business. Certain markets can use either, but certainly would, prefer a higher protein content at a competitive price. So when I mention our futures are at $1.40, that’s nonfat, and our average nonfat has a higher protein. So if we’re standardizing, that means that we can add this cheaper lactose or cheaper milk permeate to the volume, and that lowers the overall price. So the whole conversation there was more or less like, “Hey, are we making SMP now, and are we competing globally for international business? ‘Cause if we are, that also tells us at least we’re closer to finding a support price, finding some type of global support level for the product.” But you’ll hear us really start to break down the difference between SMP, nonfat dry milk. But many customers can use either. I wouldn’t say most, but many Okay. I, we covered a lot. Yara, any discussions over the past week that you that you feel were most interesting? Yara Morales: It’s a lot of inventory in Mexico, and the customer was offering me nonfat dry milk instead of buying. That was the most surprise, we know that since the price is going down so bad, and they have a lot of inventory with high prices. They have a contract that they have to take it. That’s hard for them. They are losing a lot of money. And the inquires, they looking for whey permeate. They are looking for lactose and proteins. But it’s hard to get the whey permeate and the lactose like you mentioned it. But this is the inquiry we have in Mexico so far, just protein basically because otherwise it’s difficult right now. Josh White: Yeah, agreed. Okay, all, I know it was an unusual discussion. Thanks for joining us today on the Milk Check. Mike Brown: For one part of the supply chain to be successful, everyone has to be. My superpower is practical application of data and analysis. I believe firmly that Jacoby’s success is because we help our suppliers and our buyers be successful. I’m Mike Brown, and I love working for T.C. [00:36:00] Jacoby and Co. because I get to help people Make their businesses more successful. ​

What happens when tariffs, global shipping disruptions, AI infrastructure demands, and changing buyer behavior all hit wholesale distribution at the same time?On this episode of Around the Horn in Wholesale Distribution, Kevin Brown and Tom Burton examine the economic, technological, and supply chain forces shaping manufacturers and wholesale distribution teams. They discuss inflation and interest rates, the transition to Section 301 tariffs, growing risks across major shipping routes, Amazon Business's expanding influence, the copper shortage behind AI data center growth, and why companies need a more disciplined approach to AI investment.What You'll LearnHow Section 301 tariffs could create greater planning certainty for distributors, even as import costs remain elevatedWhy disruptions at the Strait of Hormuz, the Suez Canal, and the Panama Canal could create a global supply chain “perfect storm”How distributors can compete with Amazon Business by solving complex problems and embedding themselves in customer operationsWhy AI efficiency may increase total energy and computing demand instead of reducing itHow revenue leaders in distribution can evaluate AI tools based on measurable business outcomes instead of promisesWhy employees who guide, challenge, and pressure-test AI produce stronger work than those who simply delegate tasksEpisode Highlights04:20 – How LeadSmart uses connected ERP and CRM data to uncover hidden revenue opportunities13:45 – What the Federal Reserve's inflation language could mean for interest rates and business planning23:10 – Why Section 301 tariffs may be more legally durable than previous tariff policies34:05 – The global supply chain risks developing around the Strait of Hormuz, Suez Canal, and Panama Canal43:20 – How Amazon Business reached $60 billion in merchandise volume and what distributors should do next52:15 – Why complex services, technical support, and customer integration remain powerful competitive advantages59:40 – Copper shortages, data center construction, and the infrastructure required to support AI growth1:10:05 – Why workers who actively direct AI agents outperform people who accept the first answerTools, Frameworks, and Strategies MentionedMeridian 360 HubLeadSmart's connected data hub brings information from across the business into one environment, giving leaders greater visibility into customers, teams, sales activity, and growth opportunities.GeniusFeed AI and Revenue ExpanderThese tools analyze business data to identify white space, wallet-share opportunities, customer risk, and hidden revenue. The discussion also explores how this type of predictive sales analytics could support M&A due diligence and business valuation.Make Complexity Your StrategyDistributors can protect their customer relationships by focusing on services that are difficult for large online marketplaces to replicate. These may include product customization, technical support, equipment commissioning, kitting, cutting, and on-site problem solving.Embed Into Customer OperationsVendor-managed inventory, on-site personnel, tool cribs, vending systems, and job-site inventory programs make the distributor a direct part of the customer's workflow.Jevons ParadoxAs technology becomes more efficient and less expensive, demand often grows faster than the efficiency gains. The hosts apply this idea to AI computing, data centers, energy consumption, and future infrastructure requirements.Outcome-Based AI AdoptionBefore investing in AI or sales technology, businesses should define specific outcomes they expect to achieve. Those outcomes should guide implementation, client success meetings, performance measurement, and technology budgeting.Closing Insight:AI, tariffs, e-commerce, infrastructure shortages, and supply chain disruption are creating a more complicated operating environment for wholesale distribution. The companies that succeed will be the ones that improve visibility, strengthen customer relationships, and connect technology investments to measurable growth.Subscribe to Around the Horn in Wholesale Distribution for weekly analysis of the news and trends affecting manufacturers, independent sales agents, distributors, and the global wholesale supply chain.To receive the weekly newsletter, visit AroundTheHornPod.com.To learn how LeadSmart Technologies helps distributors connect sales, CRM, ERP, marketing, quoting, and customer intelligence data, visit LeadSmartTech.com.Leave a Review: Help us grow by sharing your thoughts on the show.Learn more about the LeadSmart AI B2B Sales Platform: https://www.leadsmarttech.com/Join the conversation each week on LinkedIn Live.Want even more insight to the stories we discuss each week? Subscribe to the Around The Horn Newsletter.You can also hear the podcast and other excellent content on our YouTube Channel.Follow us on Facebook, Twitter, Instagram, or TikTok.

//The Wire//1700Z July 23, 2026// //ROUTINE// //BLUF: TARGETING THROUGHOUT MIDDLE EAST CONTINUES TO ESCALATE. CRUDE OIL FUTURES SURGE AS HOUTHIS ENTER THE WAR BY STRIKING TWO SAUDI TANKERS. U.S. HOUSE PASSES 2027 NDAA, WITH SECTION 219 LANGUAGE INTACT. POLICE SHOOTING REPORTED IN WISCONSIN, PROTESTS ALREADY UNDERWAY.// -----BEGIN TEARLINE------International Events-Red Sea/HOA: The Houthis entered the war overnight, striking two Saudi oil tankers in the Red Sea. The Houthis claim to have targeted the M/T ENCELA and the M/T LAYLIA for attempting to transit the Red Sea to the Saudi oil terminal at Yanbu. The UKMTO confirmed that at least one tanker was struck, but made no mention of the other vessel.Kuwait: Last night the Abdali Border Checkpoint crossing with Iraq was struck by an unidentified Iranian munition. This morning, satellite imagery became available for the first time in a few days over Ali Al Salem Airbase. At this base, a 50+ meter impact crater is visible directly in the center of a series of barracks buildings. The exact timing of this attack is not known, but the imagery indicates it was conducted sometime over the past week.-HomeFront-Wisconsin: Yesterday afternoon a high-profile police shooting was reported in Madison, which involved a man with a knife being shot during a scuffle in the vicinity of Baldwin and Williamson Street. The suspect's identity has not been confirmed yet, however protests and demonstrations broke out immediately after the shooting occurred. More demonstrations were carried out this morning, and more protests are expected over the next few days.Washington D.C. - Last night, the House of Representatives passed the 2027 National Defense Authorization Act (NDAA), which included the highly controversial Section 219 language intact. This section links the American military industry with Israel, embedding Israeli control of discretionary budgets within the Pentagon. The bill enables the creation of an "Executive Agent" for the Pentagon, which will direct American military technological advancements at the behest of the IDF. The bill now heads to the Senate for approval, where it is expected to pass.-----END TEARLINE-----Analyst Comments: Following the strikes in the Red Sea, financial markets reacted as Brent crude spiked to over $100/bbl, bringing futures prices back in line with the height of the war months ago. This is an indicator that the flimflammery present in the financial sector can no longer ignore the reality of the situation at hand. Since the war began, a grand game of musical chairs has been played by powerful entities to pretend that everything is fine, but at some point the markets will be forced into accepting reality by the sheer lack of oil. Within a few weeks the music is going to stop, and hard decisions will have to be made. This is why President Trump himself stated on June 17th that the main reason for signing the MOU was to prevent an extremely dire energy crisis, because the US was running out of oil. He directly stated that the US had 4 weeks of oil reserves left, and that if those run out, "bedlam" would be the result.The Houthi's becoming involved, and proving their dedication by striking oil tankers, is stacking concerns on top of concerns. The war in the Middle East now officially affects three of the most important maritime choke points in the world: the Strait of Hormuz, Bab el Mandeb, and the Suez Canal. Shipping attempting to transit any of these three points will very likely either be targeted directly, or be negatively affected in some way and the other options for securing oil are tightening as well. Venezuela, the nation that has become a proxy state of the US and thusly touted as being a major source of US oil during the Hormuz Crisis...just suffered a catastrophic earthquake that severely damaged infrastructure. Despite this destruction, oil continues to flow, but it was only ever half a million barrels per day before the war, and it's hard to imagine that an earthquake would make that export any easier. The war in Ukraine now including the daily mutual targeting of Russian and Ukrainian tanker vessels further squeezes an already dire situation. Even if the US does not use Russian oil, petroleum is a commodity...a scarcity in one place on earth affects the whole world because supply is reduced and demand remains the same.Over the past few days, most indications and warnings point to a widening of the war in the Middle East. The US has flown a lot of assets into the region, and has relocated many other assets based on the assumption that American bases will continue to be struck. The Israelis are starting to prepare their larger civil defense bunkers in preparation for large-scale ballistic missile strikes, and PM Netanyahu is scheduled to visit the US sometime this week, though the schedule has not been finalized. Glancing at mainstream media right now results in an onslaught of commentary urging strikes on Iran...you can't turn on the television without hearing the words "Pickaxe Mountain" in the context of a random ex-General urging strikes on this bunker complex, which is impervious to everything but a subterranean nuclear detonation.Nothing on the table right now points to de-escalation, in fact, all indications align with a return to the full-scale bombing campaign of the early days of the war. It's always possible to suddenly switch back to diplomacy and not restart major operations, but wars are usually fought on trends. And right now, the trends continue to suggest the war escalating for the time being.Analyst: S2A1 Research: https://publish.obsidian.md/s2underground NomadNet: 5fa68c88be727a0e1a250a75e5e79269 Disclaimer: No LLMs were used in the writing of this report. //END REPORT//

"Just-in-time inventory is great when it's working, but when it stops working, it's a huge disaster because you don't have material staged and you don't have strategic reserves." — Michael Murray, Senior Director of Global Supply Chain, DSV Inventory Management Solutions For most of the 2000s, the mandate in manufacturing was lean: hold less, order just-in-time, and keep working capital off the balance sheet. Then came a string of shocks: COVID, the Suez Canal blockage, and a global chip shortage.  All of a sudden, just-in-time started looking more like just-in-trouble. Companies swung hard toward just-in-case, stockpiling inventory as insurance against the next disruption. Michael Murray, Senior Director of Global Supply Chain at DSV Inventory Management Solutions, isn't ready to declare just-in-time dead.  In this episode of Art of Supply, Michael joins Kelly Barner to talk about the cost challenges that can result when inventory is managed reactively:  - Why the pendulum keeps swinging between just-in-time and just-in-case - Why trade policy is becoming a bigger driver of inventory strategy than COVID ever was - How a consolidated VMI model changes the math for OEMs, and why suppliers may be harder to convince than CFOs   Links: Michael Murray on LinkedIn: https://www.linkedin.com/in/mp-murray/  Kelly Barner on LinkedIn: https://www.linkedin.com/in/kelly-barner-6884443/  Art of Supply LinkedIn newsletter: https://www.linkedin.com/newsletters/art-of-supply-6895142546301960193  Art of Supply on AOP: http://www.artofsupply.com  Subscribe to the Art of Procurement Newsletter: https://resources.artofprocurement.com/art-of-procurement-podcast-subscribe   

Rey Trevino, Crude Truth Podcast Host, and President at Pecos Operating stops by.We have a wild stand-up with 8 huge stories. It is fun having guests on the stand-up, and Rey brought the receipts today. The picture above was created by Grok, and it is Clark Savage standing by the tanker “Stan Turley” - I think Grok was having a moment.With Brent crude surging past $100 per barrel and West Texas Intermediate jumping dramatically, the conversation reveals how Houthi attacks on shipping lanes, Chinese strategic positioning, and disruptions at key maritime chokepoints are reshaping energy markets worldwide. Through an in-depth discussion with energy expert RT Trevino, the podcast challenges prevailing narratives about the energy transition, presenting compelling data that shows fossil fuels still account for 86% of global energy consumption. From Europe's LNG crisis and America's emergence as a natural gas superpower to the manufacturing exodus from Canada to the U.S., this episode provides essential context for investors, policymakers, and anyone seeking to understand the complex forces driving energy prices and global economic security in 2026.1. Oil Price Surge & Global Geopolitical TensionsBrent crude has surged above $100/barrel, with West Texas Intermediate (WTI) jumping from $81 to $91. This spike is driven by geopolitical instability, particularly Houthi attacks on tankers in the Bab El-Mandab Strait and the Red Sea, which are disrupting global oil supply routes and forcing tankers to take longer routes around the world.2. Strategic Chokepoints & Supply Chain DisruptionsThe podcast discusses critical maritime chokepoints—the Bab El-Mandab Strait, Suez Canal, and Panama Canal—all facing disruptions. VLCCs (Very Large Crude Carriers, carrying ~2 million barrels each) cannot fully load through the Suez Canal, and the Panama Canal is experiencing drought conditions. These disruptions add months to shipping times and significantly impact global energy markets.3. China's Strategic Positioning & U.S. Energy PolicyThe hosts explore China's role in global energy dynamics, including its partnership with Iran and the Houthis, and how President Trump's sanctions on Venezuelan and Iranian oil are affecting global supply. There's discussion of a Chinese military base in Yemen and how U.S. strategic bombing targets infrastructure supplying Iran.4. LNG Supply Crisis & Europe's Energy DependencyEurope faces an LNG supply crisis, forcing buyers toward coal and natural gas. The podcast highlights the hypocrisy of European nations sanctioning Russia while importing 90% of Russia's LNG. Germany's decision to blow up coal plants and Japan's mothballing of nuclear facilities are criticized as short-sighted energy policy.5. U.S. Natural Gas as the FutureThe U.S. is positioned as the “Saudi Arabia of natural gas” and is exporting record amounts to Europe. The podcast emphasizes natural gas as a critical energy source and advocates for expanded infrastructure and production.6. Grid Reliability & Energy Mix RealityUsing Texas ERCOT as an example, the discussion shows that despite renewable energy investments, fossil fuels remain essential. Natural gas provided 62% of grid power, wind 25%, and solar dropped to zero at night. The grid required battery storage to prevent blackouts, demonstrating the unreliability of intermittent renewables.7. Global Energy StatisticsKey data points: 86% of the world's energy still comes from fossil fuels (gasoline, diesel, transportation), and 57% of global electricity is generated from fossil fuels. This underscores that the energy transition is actually an “energy addition,” not a replacement.8. Manufacturing Shift from Canada to the U.S.A KPMG survey shows 42% of Canadian manufacturers have moved or are moving production to the United States, driven by pro-business U.S. policies and concerns about supply chain dependency on China.9. Corporate Earnings & Energy Sector PerformanceGE Vernova reported strong Q2 2026 earnings ($11 billion, up 22%), with natural gas turbines sold out for five years. Tesla's Q2 earnings showed record deliveries but profit concerns due to AI investments.10. Oil & Gas Investment OpportunitiesWe conclude with a discussion of oil and gas as solid investment portfolio additions, offering monthly revenue, tax deductions, and long-term returns compared to renewables, which have years before generating returns.●1.Brent at $100 and U.S. Refinery Utilization at 96%: What This Means for Consumers and Investors2.LNG Supply Crisis Pushes Buyers Toward Coal, Natural Gas, and Oil: Energy Security Takes Center Stage3.Greece Exposes the Hypocrisy and Limits of Europe's Russia Energy Sanctions4.Mark P. Mills Covers the Myth of an Energy Transition5.Fossil Fuels Still Generate 57% of the World's Electricity — But We Remain Deeply Dependent on Them for Transportation, Manufacturing, and Building the “Renewables” Themselves6.GE Vernova Raises 2026 Outlook on Surging AI-Driven Power Demand While Advancing Venezuela7.Nearly Half of Canadian Manufacturers Are Moving to the US — A Self-Inflicted Wound from Tariffs, Uncertainty, and Costly Green Policies8.Tesla's Q2 2026 Earnings: Record Deliveries and Energy Growth Overshadowed by Profit Miss Amid Massive AI InvestmentsCheck the articles on https://theenergynewsbeat.substack.com/A shout-out to Steve Reese and the Reese Energy Consulting group for sponsoring the Podcast https://reeseenergyconsulting.com/.Data2 if you have any business systems, can you trust A? Well, they have the patent on validation. . https://data2.zoholandingpage.com/energyAnd we have WellDatabase rolling in as a new sponsor. https://welldatabase.com/

Cellulite is a regular source of insecurity among women. That's been especially true since women's magazines came along, pretty much labelling it public enemy number one. In our collective minds, it's become inextricably linked to being overweight or having gone through pregnancy. In reality, cellulite is the result of a number of factors, and hormonal changes in particular. The first thing to know is that there are actually three types of cellulite: aqueous cellulite which is flexible and slightly visible; adipose cellulite, which is soft and limited to a certain part of the body, and fibrous cellulite, which is hard and painful to the touch, sometimes coming with a purplish-blue colour. What do those three types have in common? Can cellulite have negative health consequences? So what techniques are out there for getting rid of cellulite? In under 3 minutes, we answer your questions! To listen to the latest episodes, click here: ⁠⁠What is the best way to soothe a crying baby?⁠⁠ ⁠⁠What is the Suez Canal?⁠⁠ ⁠⁠Who are the main victims of natural disasters?⁠⁠ A Bababam Originals podcast written and produced by Joseph Chance. First broadcast : 14/11/2022 Learn more about your ad choices. Visit megaphone.fm/adchoices

In past episodes of Do You Really Know, we've talked about a number of Scandinavian lifestyle trends, like death cleaning and hygge for example. Both of those are inspired by similar sentiments; to do with feeling good in surroundings that aren't overflowing with useless items. And yet, in recent months, we've been hearing more and more about a home decor trend that's the complete opposite. Maximalism is making a comeback! The signs have been there at furniture shows, such as the 2022 Milan Furniture Fair where Dimore Studio displayed a maximalist interior that got a lot of attention. Of course, influencers have been sharing pictures and videos of their interiors on social media too. Where does this desire for maximalism come from? How can I bring maximalism into my home then? In under 3 minutes, we answer your questions! To listen to the latest episodes, click here: ⁠⁠What is the best way to soothe a crying baby?⁠⁠ ⁠⁠What is the Suez Canal?⁠⁠ ⁠⁠Who are the main victims of natural disasters?⁠⁠ A Bababam Originals podcast written and produced by Joseph Chance. First Broadcast: 13/11/2022 Learn more about your ad choices. Visit megaphone.fm/adchoices

What happens when wholesale distributors realize “CRM” is no longer the real conversation, growth, data, AI, and sales enablement are?In Episode 198 of Around the Horn in Wholesale Distribution, Kevin Brown and Tom Burton unpack the shift they saw firsthand at the Affiliated Distributors Functional Success Summit: distributors are moving beyond traditional CRM adoption questions and toward connected data systems, AI-enabled sales strategy, and future-proofing distribution. The episode connects macroeconomic uncertainty, supply chain risk, AI governance, human judgment, and enterprise growth strategy to the real decisions facing wholesale distribution teams today.What You'll Learn:Why distributors are moving past traditional CRM conversations and focusing instead on how to help sales teams create more value, become more consultative, and grow revenueHow CRM-ERP integration, data warehouses, e-commerce platforms, marketing automation, and disconnected point solutions can limit customer visibility unless they are unified into a true enterprise growth platformWhy inflation measurement, interest rate uncertainty, and prediction markets matter to revenue leaders in distribution making investment and growth decisionsHow Strait of Hormuz disruption, Suez Canal risk, oil volatility, plastics, fertilizers, helium, and global logistics instability can ripple through manufacturing and wholesale distributionWhy AI still needs human judgment, oversight, and strategy, and why many companies miss expected ROI when they assume full automation instead of building a realistic digital transformation planEpisode Highlights:01:16 – Lessons from the Affiliated Distributors Functional Success Summit and why sales enablement is replacing traditional CRM talk03:55 – Why disconnected data across ERP, marketing automation, e-commerce, and point software creates risk for distributors06:37 – Episode 198 begins: how Around the Horn connects the economy, supply chain, M&A, sales, marketing, AI, and robotics to wholesale distribution08:30 – LeadSmart's Meridian 360 Enterprise Growth Platform and the move from Smart CRM to broader business growth engines12:32 – Inflation cooling, gas prices, and why energy volatility still affects distributors, manufacturers, fertilizers, heavy minerals, and supply chains15:23 – Kevin Warsh, Fed measurement reviews, CPI, PPI, the 2% inflation target, and the need for more real-time data20:25 – Prediction markets, PolyMarket, Kalshi, and whether betting markets can offer useful economic signals27:17 – Strait of Hormuz risk, Iran, shipping disruption, oil exposure, the Suez Canal, Houthi rebels, and what it means for global supply chains43:02 – AI watchdogs, model testing, DeepMind, Fable, Mythos, and the role of government QA for high-powered AI systems48:38 – Human judgment in the age of AI, digital twins, job displacement fears, and why AI ROI depends on data readiness and realistic automation expectations56:00 – APR Supply's sales tool adoption gains and how better sales technology can support outside sales revenue growthTools, Frameworks, and Strategies Mentioned:LeadSmart TechnologiesMeridian 360 Enterprise Growth PlatformSales CompassSmart CRMSales Co-PilotAI Co-Pilot for SalesCRM-ERP IntegrationCRM Data Enrichment with AIHidden Revenue DetectionSales Automation Without Losing the Human TouchFuture-Proofing DistributionHybrid Selling ModelsConsultative CommerceData warehouses and data lakesMarketing automationE-commerce data integrationERP data unificationAI-enabled business intelligencePrediction marketsPolyMarketKalshiCPI and PPI measurement reviewsAI model QA and AI watchdog conceptsHuman judgment in AI strategyAPR Supply sales tool adoptionMaster of Distribution Management programClosing Insight:The episode's central message is clear: the future of distribution is not about buying more disconnected technology. It is about connecting data, people, process, and AI into a strategy that helps teams sell smarter, serve customers better, and make better decisions under uncertainty.Leave a Review: Help us grow by sharing your thoughts on the show.Learn more about the LeadSmart AI B2B Sales Platform: https://www.leadsmarttech.com/Join the conversation each week on LinkedIn Live.Want even more insight to the stories we discuss each week? Subscribe to the Around The Horn Newsletter.You can also hear the podcast and other excellent content on our YouTube Channel.Follow us on Facebook, Twitter, Instagram, or TikTok.

Europe's chemical industry will become increasingly exposed to competition from China, the Middle East and the rest of Asia if more shippers return to the Suez Canal. Maersk, Hapag-LLoyd reopen one Gemini service through the Suez Canal China becomes increasingly self-sufficiency in chemicals Switches from net importer to exporter for some important products Growth of chemicals post-2030 could be focussed in megasites with low carbon production linked to CCS/U (carbon capture and storage/utilization) US ethane prices have fallen, giving US producers more of a competitive advantage Introduction of US-EU trade deal will see tariffs on many US chemical imports fall from 6.5% to zero Note – this podcast was recorded on 7 July, 2026In this ICIS Think Tank podcast, Will Beacham interviews ICIS senior consultant John Richardson and ICIS Insight Editor Tom Brown.

In this episode of Interlinks, Patrick Daly speaks with Simon Legg, Managing Director Ireland for DP World, about DP World's ambitions in Ireland and the changing role of logistics providers in a more disrupted and uncertain global trading environment.DP World is one of the world's major trade, ports and logistics businesses, with activities spanning ports and terminals, contract logistics, freight forwarding, marine services and end-to-end supply chain solutions. In Ireland, the company is building its presence across Dublin, Cork and Shannon, with the aim of offering customers a broader and more integrated alternative to traditional freight forwarding.Simon discusses his own career journey in freight forwarding, DP World's development from ports and terminals into end-to-end logistics, and the company's plans for the Irish market. He explains how DP World is focusing on key export sectors such as pharmaceuticals and medtech, and how Ireland-based multinationals can benefit from global reach, sector-specific expertise and connected supply chain networks across Europe, the US, Asia and beyond.The conversation also explores practical logistics challenges in Ireland, including congestion at Dublin Airport, cargo handling constraints, cold chain requirements, driver waiting times and the need for more efficient export consolidation. Simon outlines DP World's plans for a specialist temperature-controlled facility on the outskirts of Dublin to support pharmaceutical and other sensitive shipments.Patrick and Simon then move from local issues to global disruption, looking at the impact of instability in the Gulf, the Red Sea, the Suez Canal and other trade routes on lead times, warehousing, inventory and planning. They discuss why businesses now need to move beyond efficiency-only supply chains and think more seriously about resilience, adaptability, visibility and risk.This conversation is a clear example of how macro-to-micro strategy is manifesting in the current environment, where the strategic requirements of business are shifting from efficiency to resilience and service providers such as DP World are tailoring their services and solutions to help international businesses execute that strategy. Hosted on Acast. See acast.com/privacy for more information.

For the ad-free version of this episode, subscribe to Politicology+ at https://politicology.com/plus In this episode, Ron talks to Jay Solomon (executive director of investigations at the Program on Extremism at George Washington University and cohost of The Threat podcast) and Hagar Chemali (former spokesperson for the U.S. Mission to the UN and cohost of The Threat podcast) about what the latest war with Iran reveals about the limits of American power. They explore why allies failed to rally around the United States, how the Strait of Hormuz became a political weapon, and why both ends of the political spectrum increasingly argue that America itself is the problem. Then they trace the radicalization of one young American activist as a window into the forces pulling at the country from the outside.  Later, Ron, Jay, and Hagar turn to corruption, transactional foreign policy, and where American leadership goes once the old institutions can no longer be rebuilt. They discuss: (5:01) What this war revealed about the limits of American power (6:41) Why allies didn't rally, and the Strait of Hormuz as a toll booth (8:34) The case that confrontation with Iran was inevitable (15:21) The left's turn: DSA, the Mamdani primaries, and a hollowing party (20:26) Populism meets foreign policy (25:52) The radicalization of Calla Walsh (35:02) Utopian movements and the dream of a perfectible world (39:09) The anti-war tradition versus foreign influence (46:30) The right's turn: JD Vance, Qatar, Pakistan, and the Quincy Institute (54:40) Transactionalism, corruption, and values that left the room (1:02:41) Anti-Semitism, legitimate debate, and the new litmus tests (1:09:47) What Israel does if American support collapses (1:13:12) The industrial complexes and their competing incentives (1:21:47) Iran's real motives and the lessons of the pallets of cash (1:33:49) Is this our Suez Canal moment? Check out The Threat podcast: The Threat podcast: https://bit.ly/3QPoKhZ Follow Ron on Twitter:https://twitter.com/RonSteslow Follow Jay on Twitter: https://x.com/FPJaySolomon Follow Hagar on Twitter: https://x.com/HagarChemali  Email your questions to podcast@politicology.com or leave us a voicemail at ‪(202) 455-4558‬  Learn more about your ad choices. Visit megaphone.fm/adchoices

James 5:16-18 16 Therefore confess your sins to each other and pray for each other so that you may be healed. The prayer of a righteous person is powerful and effective. 17 Elijah was a human being, even as we are. He prayed earnestly that it would not rain, and it did not rain on the land for three and a half years. 18 Again he prayed, and the heavens gave rain, and the earth produced its crops. SERMON NOTES I. The Burden of Legacy The Coca-Cola Lesson: In 1985, "New Coke" failed because customers felt betrayed by the loss of something familiar and trustworthy, even though the new flavor was "better". Defining the Mantle: To "take up the mantle" means to assume the role and responsibility of a predecessor and say, "I will carry on what they began". Succession is Hard: It is almost impossible to follow a "GOAT" (Greatest of All Time) because you are constantly compared to their legacy. II. The Pitfall of Talent: Churchill vs. Eden Winston Churchill: A legendary leader who rallied Britain against "monstrous tyranny" with bold determination and grit. Anthony Eden: A "polished diplomat" and Churchill's right-hand man who seemed perfect on paper but failed his first test (the Suez Canal crisis) and resigned in disgrace. Insight: It isn't easy to take up the mantle. III. The Source of Power: Elijah vs. Elisha Dark Days: King Ahab and Jezebel led Israel into extreme evil, murdering God's prophets and worshipping idols. Elijah's Fire: Elijah single-handedly confronted 450 prophets of Baal, and God answered with fire from heaven to prove He was the true God. The Big Truth: Elisha was called to follow this legend, but James 5:17 reminds us Elijah was "a man just like us". The power came from God's presence, not Elijah's ability. IV. Taking Up the Mantle Today The Current Call: In modern days of darkness and challenge, we are called to be the church. The First Passing: Successful legacy requires mentorship. Elijah didn't just leave; he invited Elisha to walk with him and learn from his presence for years. The Ultimate Strength: We take up the mantle by trusting the Spirit of Jesus, who conquered death and lives in us.   Discussion Questions The "Familiarity" Factor: Why do you think people react so strongly to change (like the "New Coke" example)? In your own life, when has it been difficult to let go of the "familiar" to embrace something new? The Pressure of Success: What makes it so hard to live up to a previous legacy? The "Just Like Us" Reality: James 5:17 says Elijah was "a man just like us." How does it change your view of your own faith to know that Elijah's miracles were about God's power rather than Elijah's special abilities? Practical Mentorship: The sermon mentioned a "first passing" of the mantle where Elijah gave Elisha his presence. What does it look like practically for different generations in our church to spend time together and share their walks with the Lord? Looking at the "Faith Hall of Fame" (Hebrews 11), many faced extreme hardships. Which "dark days" in our world today feel most overwhelming to you, and how does the promise that "He who lives in you is greater" give you courage?

Oil may dominate the headlines about the Middle East, but the real power often flows through water. Three narrow passages - the Suez Canal, the Strait of Hormuz, and Bab el-Mandeb – shape how the world moves. In times of crisis, they've become chokepoints, disrupting global trade, rattling markets, and shifting the balance of power way beyond the region. In this episode, three stories from these waterways… how they've helped define the modern Middle East and, as we've seen recently with Hormuz, the economic currents that affect us all.Guests:Alex Von Tunzelmann, author of Blood and Sand: Suez, Hungary, and Eisenhower's Campaign for PeaceHarold Lee Wise, author of Inside the Danger Zone: The U.S. Military in the Persian Gulf, 1987-1988Farea Al-Muslimi, Yemen and Gulf researcher at Chatham House in LondonSupport shows like Throughline with NPR+. Sign up today at plus.npr.org.See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

Theatrical stages often mirror the intricate evolution of the societies that build them. Professor Carmen Gitre explores the burgeoning performance culture of Cairo between 1867 and 1930. This era witnessed a shift from street storytelling and shadow plays to formal theater houses designed for an emerging class of Western-educated intellectuals. The discussion traverses the grand spectacle of the Suez Canal's opening to the subversive nationalist songs of performers like Mounira al-Mahdiyya. Through this historical lens, the stage appears as a critical site for negotiating modernity, colonial influence, and Egyptian identity.   00:00 Introduction 01:28 The Evolution of Performance 03:56 Commissioning an Operatic Staple for a Global Stage 07:35 Street Storytelling & the Shadows of Earlier Traditions 12:02 Urban Redesign Mirroring a Parisian Vision of Modernity 18:46 Defensive Developmentalism & the Weight of Sovereign Debt 27:21 Syrian Practitioners & the Burgeoning Role of the Press 32:31 Efendi vs. Basha 39:01 Vernacular Choices for an Elevated Public Education 44:31 Satirical Observations through a Modernist Lens 51:14 The nuances of the women's movement 57:04 Disembodied Voices in the Era of Early Recording 58:00 Performances Spilling into the Nationalist Fervor of 1919 01:03:02 Cinematic Transitions and Legacies for the Everyman   Carmen Gitre is an Associate Professor of Middle East History and Associate Chair of History at Virginia Tech University. She earned her Ph.D. at Rutgers University in 2011. From 2011 to 2014, she taught in the International Studies and History Departments at Seattle University. Her academic interests include cultural history, imperialism, and the relationship between performance, identity, and modernity in Egypt. Her book, Acting Egyptian: Theater, Identity, and Political Culture in Cairo, 1867-1930, was published by the University of Texas Press in 2019. Other publications include 'The Dramatic Middle East: Performance as History in Egypt and Beyond,' and 'Nonsense and Morality: Comedy in Interwar Egypt.' Her current work delves more deeply into interwar art, performance, and cultural influence in Egypt.   Connect with Carmen Gitre

17 Jun 2026. Oil to a three-month low and gold has surged. Guy Wolf from Marex on what the US-Iran deal means for markets. DMCC's Future of Trade 2026 report is out with the UAE ranking second globally in commodities trade. CEO Ahmed Bin Sulayem joins us live on location. We also speak to Michael Lawrence from Asia House, the think tank behind the analysis in DMCC's new report. And Oxford Economics has revised its global outlook in light of a potential peace deal between the US and Iran. Azad Zangana joins us with the details.See omnystudio.com/listener for privacy information.

It is a wild day on the Energy News Beat Stand Up.Make no mistake, time will tell if the Strait of Hormuz is open, but do not underestimate the importance that the Bank of London and Lloyds of London play in opening the Strait of Hormuz. They want the war to continue, and are not happy if the war ends.As we hit Operational Bottoms for oil storage in the US it is a real problem, and President Trump ran out of time. I think that he has a plan and will get it done, but it will be done after the midterms.President Trump at the G7 has had some major impacts on the news cycle.1. Cushing, Oklahoma Oil Storage Crisis (Top Story)The podcast opens with the critical issue that Cushing—the "pipeline crossroads of the world"—has hit operational tank bottoms with only ~21.64 million barrels of crude. This is a major concern because refineries may not be able to access the oil they need, and the situation could spike oil prices. Cushing is the primary delivery and pricing point for WTI (West Texas Intermediate) futures.2. Global Oil Market Dynamics & Geopolitical TensionsStrait of Hormuz concerns: 20% of the world's oil passes through this strait, creating vulnerability to disruptionsIran's actions: Iran has pulled the trigger on controlling the strait, prompting neighboring Gulf states to seek alternative routesTanker movements: Iranian super tankers are slipping through blockades, with 6 million barrels already moved (likely to China)3. UAE's Strategic Independence from Strait of HormuzThe UAE is accelerating plans to bypass the Strait of Hormuz entirely by expanding pipelines from 1.7 to over 5 million barrels per day, with potential floating LNG terminals planned for the Gulf of Oman.4. Alternative Pipeline InfrastructureSaudi Arabia's east-west pipeline to the Red Sea (pumping ~7 million barrels/day)Plans to bypass the Suez Canal through the MediterraneanIraq's threat to close the Bab el-Mandeb Strait, forcing reliance on pipelines5. Qatar's LNG Export RestartQatar is preparing to restart LNG exports with tankers already positioned, which is critical for Europe's natural gas supply (especially as they lag behind in summer refilling).6. U.S. Power Grid CrisisSevere equipment shortage with power transformer lead times reaching 128 weeks (2.5 years)Some special orders taking up to 4 yearsNew transformer facilities being built (Hitachi in Virginia by 2028, Siemens in North Carolina)Recommendation for homeowners to invest in solar panels and off-grid capabilities7. California Energy & Infrastructure ProblemsRefinery closures: Only 7 refineries remain in California; losing one would spike gasoline, diesel, and jet fuel pricesHigh-speed rail project: Ballooned from $9.9 billion to $231 billion with companies relocating to Morocco due to regulatory burdenPort congestion: LA and Long Beach ports handling massive container volumes8. Oil Price ForecastsMorgan Stanley lowered Brent crude forecasts to $90 in Q3 and $80 in Q4Current prices: WTI at ~$76-77, Brent at ~$79.58, Natural gas at $3.169. AI & Grid InfrastructureDiscussion of potential AI bubble concerns and the need for grid validation tools before implementation.10. U.S. Reshoring & Industrial RecoveryThe Trump administration is working to reverse decades of intentional deindustrialization, though the process faces challenges.The podcast emphasizes that energy markets are at critical junctures with geopolitical tensions, infrastructure constraints, and strategic repositioning reshaping global oil and gas flows.1.Cushing, Oklahoma Oil Storage Hits Tank Bottom: Implications for Energy Markets, Consumers, and Investors2.Pain at the Pump: Can It Heal or Curse the Trump Administration?3.UAE is moving on plans to never use the Strait of Hormuz4.Qatar Returns Tankers in Preparation for Restarting LNG Exports5.Iranian Supertanker Slips Out of Chabahar, Crossing US Blockade as Tehran Moves Oil Ahead of Friday Deal Approvals6.Qatar Plans to Rapidly Restart LNG Output After Hormuz Opens – How will this impact Europe?7.Banks Slash Oil Price Forecasts After U.S.-Iran Breakthrough8.US Grid Equipment Shortage Deepens Impacting Repairs and New Installations9.Another California refinery closure will threaten national and global economies10.California High-Speed Rail project soars to $231 Billion – “We left to work in Morocco as it is a better work enviornment”Check out the Energy News Beat SubStack https://theenergynewsbeat.substack.com/A shout-out to Steve Reese and the Reese Energy Consulting group for sponsoring the Podcast https://reeseenergyconsulting.com/.Data2 if you have any business systems, can you trust A? Well, they have the patent on validation. . https://data2.zoholandingpage.com/energyAnd we have WellDatabase rolling in as a new sponsor. https://welldatabase.com/

In this episode, Nihal El Aasar returns to this podcast to discuss the competing progressive alternatives in the Arab world prior to the establishment of the State of Israel. Arab attempts to join capitalist systems were obstructed by British and Zionist colonial power, leading to the maintenance of a hegemonic state. We also reference the Union of Arab States and the role of the Zionist entity in hindering regional development. Gamal Abdel Nasser and other leaders in Egypt attempted to create a sovereign economic and political space through nationalist projects. This was actively resisted by Western powers and seen as a threat to imperialist interests. The theory of dependency, as developed by Samir Amin, highlights how underdevelopment in the global South is the result of the expansion of global capital. Nihal argues that while Nasser's project was popular and supported by the masses, his distrust in popular participation and repressive actions against intellectuals helped prevent the project from fully being actualized. The formation of Israel was intertwined with Western efforts to manage the political future of the so-called Middle Eastern region. Israel has hindered the Arab modernization project and has negatively affected the surrounding countries. We discuss how Israel exists in the region to halt the potential of the Arab people as a whole. This is done through repression, impoverishment, and preventing economic prosperity. The U.S. interests in extraction and controlling resources in the region also play a role in this. Apart from that, we meditate on Egypt's early 20th century role as a leader in the Arab world and the expectations placed on its military and economy for stability and development being largely shaped by its history of conflict with Israel and the continued presence of Zionism in the region. The military's control of the economy, rise of religious fundamentalism, and prevalence of conspiracy theories can all be traced back to this relationship. Additionally, Egypt's 20th century development was and continued to be hindered by both structural pressures from outside and its own struggle with overextension as a newly decolonized nation. The working class in Egypt consisted mainly of peasants who were oppressed under the Egyptian monarchy. Land reforms were necessary for progress and industrialization was slowly taking place. From the start, Egyptian nationalism was formed in opposition to Zionism. Nasser faced challenges from the US and its allies and had to build up the Egyptian military in response. We discuss how the nationalization of the Suez Canal and the creation of the United Arab Republic were unprecedented events, but internal struggles and external interference ultimately led to its downfall. The Gulf monarchies have also been deeply intertwined with imperial and capitalist interests since their founding, making them a natural opposition to Arab socialist and progressive projects. The 1973 oil embargo, El Aasar argues, was the last major act of Arab unity but was not an altruistic act of solidarity. The embargo affirmed the importance of the petrodollar for the US and was influential in bringing about the Camp David Accords, which aimed to consolidate the petrodollar and move Egypt fully from the Soviet camp to that of the United States. We meditate on the significance of Camp David and the 1978 peace treaty between Egypt and Israel, arguing that it represents a betrayal of Egyptian sovereignty and a move towards neoliberalism and repression. She also highlights how this has instilled a defeatist mindset in Egyptians and led to ongoing struggles with poverty and domestic warfare. She argues that the current regime in Egypt is a continuation of the "Camp David Republic" and that the promised benefits of peace, such as prosperity and political openness, have been left unfulfilled.   If you like what we do and want to support our ability to have more conversations like this. Please consider becoming a Patron. You can do so for as little as a 1 Dollar a month and you will gain access to our Discord.   Nihal is an Egyptian  writer, researcher, political analyst, radio host and DJ. She has written about politics, political economy, culture, literature and music in several publications including The Baffler, The Transnational Institute, Verso, Jacobin, Tribune, Parapraxis, Mundial, Art Review, The Wire, Protean, Novara media, and others, as well as authoring a book chapter about Egyptian political economy and consulting on related issues. "The Condition for Freedom Is for the Egyptian Masses to Take to the Streets"Egypt's Centrality in the Struggle for Palestine" by Nihal El Aasar   Episode artwork includes an artificially colorized version of this photo: "Egyptian President Anwar Sadat and Israeli Prime Minister Menachem Begin acknowledge applause during a Joint Session of Congress in which President Jimmy Carter announced the results of the Camp David Accords." full credit information here: https://commons.wikimedia.org/wiki/File:Sadat_and_Begin_clean3.jpg  

In the third and final installment of the series, President Theodore Roosevelt mobilizes the full industrial might of United States to “make the dirt fly” in Panama and succeed where the French Syndicate failed. But many perils await them in “The Zone”. From disease-bearing mosquitos and intractable terrain, to labor problems and lethal accidents, the Panamanian jungle will not be tamed without a fight.    SOURCES: Burton, Anthony. The Canal Pioneers: Canal Construction from 2500 BC to the Early 20th Century. Barnsley, UK: Pen & Sword Maritime, 2018. Charles River Editors. The Panama Canal: The Construction and History of the Waterway Between the Atlantic and Pacific Oceans. CreateSpace Independent Publishing, 2013. Diaz Espino, Ovidio. How Wall Street Created a Nation: J.P. Morgan, Teddy Roosevelt, and the Panama Canal. New York: Four Walls Eight Windows, 2003. Greene, Julie. The Canal Builders: Making America's Empire at the Panama Canal. New York: Penguin Press, 2009. Karabell, Zachary. Parting the Desert: The Creation of the Suez Canal. New York: Alfred A. Knopf, 2003. Keller, Ulrich. The Building of the Panama Canal in Historic Photographs. New York: Dover Publications, 1983. Lasso, Marixa. Erased: The Untold Story of the Panama Canal. Cambridge, MA: Harvard University Press, 2019. Lindsay, John. Emperors in the Jungle: The Hidden History of the U.S. in Panama. 2003. Lopez, Sean J. Chokepoint: The Epic History of the Suez Canal. New Haven, CT: Yale University Press, 2024. Marlowe, Elias. A History of Panama: Canal, Conquest, and Independence. Albuquerque: University of New Mexico Press, 2012. McCullough, David. The Path Between the Seas: The Creation of the Panama Canal, 1870–1914. New York: Simon & Schuster, 1977. Morton, Levi P. “No. 105. Mr. Morton to Mr. Frelinghuysen.” Papers Relating to the Foreign Relations of the United States, Transmitted to Congress, With the Annual Message of the President, December 1, 1884, U.S. Department of State Office of the Historian, 5 July 1884,https://history.state.gov/historicaldocuments/frus1884/d105 Parker, Matthew. Panama Fever: The Epic Story of the Building of the Panama Canal. New York: Doubleday, 2007. Cohen, Lucy M. “The Chinese of the Panama Railroad: Preliminary Notes on the Migrants of 1854 Who ‘Failed.'” Ethnohistory 18, no. 4 (1971): 309–20. https://doi.org/10.2307/481071. “The Tragedy of the Chinese.” Panama Railroad Historical Society, www.panamarailroad.org/chinesetragedy.html “Many Canal Workers Killed,” Black Virginia: The Richmond Planet, 1894-1909, accessed May 16, 2026, https://blackvirginia.richmond.edu/items/show/1085. https://newsroompanama.com/2026/03/22/clear-rules-and-fair-compensation-indio-river/?utm_source=chatgpt.com https://frontera.library.ucla.edu/recordings/coge-el-pandero-que-se-te-va-0 “Wilson Blows Up Last Bar Between Oceans; Canal Becomes Reality.” The Audubon County Journal (Audubon, Iowa), October 17, 1913. Colorado Historic Newspapers Collection. “Canal Is Opened by Wilson's Finger.” The New York Times, October 11, 1913. Learn more about your ad choices. Visit megaphone.fm/adchoices

Prison Revolt! Adultery! Court Intrigue! War! The Suez Canal! 1930 has a little bit of everything, as long as everything is basically one of those five subjects. Craig and Meghann continue the Great Work, with the Best Picture Nominees of 1930.

In 1882, the German mathematician Ferdinand von Lindemann proved that π was transcendental: it cannot be reduced to a tidy equation, never captured inside the comfortable boundaries expected by mathematicians. For centuries mathematicians tried to “square the circle” — creating a perfect square with the same area as a circle using only classical tools. In 1882, they finally got their answer: impossible. π's transcendence meant the problem itself can never be solved. π sits at the centre of order — wheels, planets, architecture, engineering — but does not obey the rules mathematicians thought would contain it. The more closely pi is examined, the more it slips beyond simple description. But pi also has beauty in it's patterns. π — roughly 3.14 etc etc — is the hidden constant inside every circle: divide the distance around any circle by the distance across it, and written out as a decimal, it goes on forever without ever stopping and without ever falling into a repeating pattern. Southern Africa in the early 1880s had the appearance of something similar. The neat assumptions of empire borders that could be drawn, peoples classified, and territories administered into obedience — were beginning to collide with a far messier reality. The aftermath of the First Anglo-Boer War had humbled imperial confidence, African polities remained powerful actors, and the mineral revolution was creating forces no colonial administrator fully controlled. Like π, South Africa was proving resistant to simple formulas. Emerging at this time was the Afrikaner Bond, led by Jan Hendrick Hofmeyr, his Boeren Beschermings Vereeniging, Farmers Protection Society, had merged with the Bond. Hofmeyr's main aim was to merge the diverse Afrikaner cultural movements from behind the scenes, thus his nickname, The Mole. Cape Prime Minister John Gordon Sprigg was sparring with political humanists, particularly Saul Solomon who owned the Cape Argus. As a liberal member of parliament, he was an articulate defender of African rights, called a friend of the natives and worse by some settlers. He was enticed to sell his paper to the editor at the time, what he didn't know, was that Cecil John Rhodes was secretly backing the sale - no Rhodes owned the Argus. It was in that moment that the Cape lost its important outsider voice, and Rhodes gained a news outlet. The main story the paper was covering after the first Anglo-Boer war was the instability in Basotholand. The Argus and other liberals had taken up the Basotho cause against the land-hungry settlers of the Orange Free State. Shoring up his personal wealth and power, Rhodes was simultaneously using his growing influence in the Cape to protect its northern territories. This was a natural progression, north of Kimberley lay the Vaal River, and the Molopo River. Between the two lay not only the Boers of the Orange Free State and the Transvaal, but the Tswana people. South of the Molopo there were the Thlaping, the Rolong, north of the Molopo the Ngwato chiefdom, ruled by Khama as well as the Kwena under chief Sechele, the Ngwaketse ruled by Gaseitsiwe and soon, his son, Bathoen. The Tswana were tussling with colonial expansion, and navigating the difficult politics of the frontier, keeping the Boer settlers at arm's length. Along the edge of these chief's territory there lay the Great North Road, on the eastern side of the Tswana lands. Transvaal President Paul Kruger was behind efforts to cut off the Road to the North, something the British authorities suspected but couldn't prove. For Cecil Rhodes and British ambitions, these two micro-republics were a geopolitical nightmare. If the Transvaal annexed Stellaland and Goshen which was Paul Kruger's ultimate goal, the Boers would completely block Cape Colony access to the interior of Africa. Rhodes had taken to calling the Great north Road the Suez Canal of South Africa.

The National Security Hour with Brandon Weichert – Yon emphasized the strategic importance of maritime chokepoints such as the Danish Strait, the Strait of Hormuz, the Panama Canal, the Suez Canal, and the Strait of Malacca. These locations are not obscure geographic trivia; they are the pressure valves of the international system. If even one is blocked or militarized, the economic...

The National Security Hour with Brandon Weichert – Yon emphasized the strategic importance of maritime chokepoints such as the Danish Strait, the Strait of Hormuz, the Panama Canal, the Suez Canal, and the Strait of Malacca. These locations are not obscure geographic trivia; they are the pressure valves of the international system. If even one is blocked or militarized, the economic...

In this episode of the Explaining History Podcast, we examine the opening moves of the Ottoman Empire's war against Britain – a desperate, audacious campaign to seize the Suez Canal that has been largely forgotten but which revealed the fragility of the British Empire and the resilience of the Ottoman army.At the outbreak of the First World War, the Ottoman Empire saw itself surrounded by enemies: the British in Egypt, the Russians to the north, a hostile Habsburg Empire to the west, and a recently hostile Italy in the Mediterranean. The Young Turk government initially hoped to stay out of the war. But when they looked at Britain, France, and Russia, they saw voraciously hungry powers intent on dismembering their empire. Germany offered a security guarantee – unreliable, but the best available.The German High Command placed a high priority on cutting the Suez Canal. Between August and December 1914, 376 transport ships carried nearly 164,000 Allied troops through the canal. It was the vital artery connecting the Indian Ocean to the Mediterranean – the lifeline of Britain's Asian empire. If the Ottomans could pinch it off, they could deal Britain a mortal blow and perhaps inspire a pan‑Islamic jihad against British rule.The man chosen to lead the attack was Cemal Pasha. In November 1914, he stood in Istanbul's central train station and publicly proclaimed his intention to conquer Egypt. The British dismissed his pledge as empty rhetoric. They did not believe he could raise an army large enough or cross the waterless, hostile Sinai desert.But Cemal assembled a heterogeneous, multi‑ethnic force – regular soldiers from the Arab provinces, volunteers from Bedouin, Druze, Circassian, Kurdish, Albanian, and even Jewish communities. He wrote to the Sharif of Mecca, Hussein ibn Ali, asking for troops under one of his sons. Hussein's son Ali went no further than Medina – a warning sign Cemal chose to ignore.Against all odds, Cemal's force marched across the Sinai in 12 days, losing neither a man nor a beast. They carried light rations of dates, biscuit, and olives, water carefully rationed, marching through the freezing nights and resting by day. British aerial surveillance initially failed to detect them – early aircraft lacked the range to reach central Sinai.By late January 1915, the British realised the impossible was happening. They withdrew all troops to the western shore of the canal, chained guard dogs on the east bank, and waited. The odds were stacked against the Ottomans – 25,000 attackers against 50,000 dug‑in defenders, backed by warships, armoured trains, and the canal itself. But Cemal had achieved surprise. What happened next would shape the course of the war in the Middle East.Drawing on Eugene Rogan's *The Fall of the Ottomans*, this episode explores the political context of the Ottoman decision to enter the war, the challenges of mobilising a multi‑ethnic army, the incredible logistics of the Sinai crossing, and the early use of aerial reconnaissance in desert warfare.**Topics covered:**- The Ottoman Empire's strategic dilemma in 1914- The alliance with Germany and the promise of jihad- The importance of the Suez Canal to the British war effort- Cemal Pasha and his public proclamation- The composition of the Ottoman expeditionary force- Sharif Hussein's reluctant cooperation- The 12‑day march across the Sinai- British aerial reconnaissance and its limitations- The defence of the canal: warships, armoured trains, and guard dogs- The moment of surprise before the attack---*If you enjoy the podcast, please consider supporting us – we are migrating from Patreon to Substack. Details in the show notes.*Explaining History helps you understand the 20th Century through critical conversations and expert interviews. We connect the past to the present. If you enjoy the show, please subscribe and share.▸ Support the Show & Get Exclusive ContentBecome a Patron: patreon.com/explaininghistory▸ Join the Community & Continue the ConversationFacebook Group: facebook.com/groups/ExplainingHistoryPodcastSubstack: theexplaininghistorypodcast.substack.com▸ Read Articles & Go DeeperWebsite: explaininghistory.org Hosted on Acast. See acast.com/privacy for more information.

“Be optimistic about the boom, but don't buy the stock.” — Liaquat Ahamed on the AI bubble Yesterday, Alexander Starritt argued that the 2008 financial crash ruined the lives of his generation. But compared with the great crash of 1873, 2008 looks like a tremor. The Pulitzer Prize-winning economic historian Liaquat Ahamed has a new book out today, 1873, which presents this 19th century economic crash as the first truly global financial crisis. In 1870, three globalising infrastructure projects were completed in quick succession: the US transcontinental railroad, the Suez Canal, and the Trans-India railroad linking Bombay to Calcutta. Into this newly integrated global economy, the Franco-Prussian War injected a trillion-dollar-equivalent indemnity that the Rothschilds helped France raise — and the resulting dramatic capital flows produced three simultaneous bubbles in Berlin, Vienna, and New York. A French journalist named Jules Verne worked out that for the first time, you could circumnavigate the globe in less than eighty days. Around the world in one global economic crisis. The lesson for posterity, Ahamed warns, is that the authorities made a catastrophic error by doubling down on the gold standard, producing decades of deflation that triggered an anti-semitic and anti-globalist populism, and ultimately led to the Great Depression of the 1930s. So what does that tell us about today's AI boom, which is about to be rocketed by three trillion-dollar IPOs? Be optimistic about the boom, the wise Ahamed says. But don't buy the stock. Five Takeaways •       Jules Verne and the First Global Economy: In 1870, three iconic infrastructure projects were completed: the US transcontinental railroad, the Suez Canal, and the Trans-India railroad linking Bombay to Calcutta. A French newspaper noted that for the first time, a traveller could circle the globe in less than eighty days. Jules Verne read the article and found his next novel. The point for Ahamed: this moment marked the creation of a genuinely integrated global economy for the first time in history. And with global integration came the first global financial crisis. The boom of the 1850s and 1860s was not irrational. It reflected real economic growth. The crash came from what happened next. •       The Trillion-Dollar Indemnity and Three Simultaneous Bubbles: Under the peace treaty ending the Franco-Prussian War, France was required to pay Germany an indemnity worth the equivalent of $1.2 trillion in today's money. With the help of the Rothschilds, France raised this sum in six months. The resulting capital injection caused the Berlin and Vienna equity markets to rise 200–300 percent. Simultaneously, European capital fleeing the war flowed into US railroad construction, inflating that bubble further. A third bubble formed in foreign borrowing on the London capital markets, as money chased yield in countries that should never have been given credit. Three bubbles, one crash. •       The Wrong Lesson from 1873: Gold Standard Orthodoxy: When the crash came, the authorities made a catastrophic error: they concluded that the gold standard had worked because the 1850s and 1860s boom had happened under it. They failed to see that the crash itself was partly produced by the gold standard's rigidities. The resulting decade of deflation crushed farmers, debtors, and ordinary people across Europe and America, fuelling anti-globalist populism. The same orthodoxy — applied by Montagu Norman and others in the 1920s — helped cause the Great Depression. We always fight the last war. •       The Rothschilds: Scapegoated Despite Being Innocent: The Rothschilds were at the centre of the 1873 boom as the world's leading bond underwriters. Presciently, they kept a low profile during the most speculative phase of the bubble. When the crash came, they were viciously scapegoated — part of the wave of antisemitism that swept Europe in the wake of the depression. Ahamed's irony: the Rothschilds were blamed for a crisis they had been cautious enough to partially avoid. The story of 1873 is, among other things, a story of how financial panic turns into political persecution. •       The AI Boom: Be Optimistic, Don't Buy the Stock: Andrew's final question: should we buy Anthropic and OpenAI when they go public? Ahamed's answer, via the lesson of every bubble from 1873 to 1929 to the dot-com era: bull markets are usually driven by real fundamentals — until the last phase, when they become untethered. The 1920s were rational until 1927; the dot-com era was rational until 1997. The dilemma: the last irrational phase may still produce 40 percent gains. Ahamed's advice: be optimistic about the AI boom. It reflects real productivity growth. But don't buy the stock. About the Guest Liaquat Ahamed is a financial historian and investment manager. He graduated with degrees in economics from Cambridge and Harvard, worked at the World Bank in Washington, D.C., and had a twenty-five-year career as a professional investment manager based in London and New York before turning to writing. He is the author of 1873: The Rothschilds, the First Great Depression, and the Making of the Modern World (Penguin Press, June 2, 2026) and Lords of Finance: The Bankers Who Broke the World (winner of the 2010 Pulitzer Prize, the Council on Foreign Relations Arthur Ross Gold Medal, and the Financial Times Best Business Book of the Year). He lives in Washington, D.C. References: •       1873: The Rothschilds, the First Great Depression, and the Making of the Modern World by Liaquat Ahamed (Penguin Press, June 2, 2026). •       Lords of Finance: The Bankers Who Broke the World by Liaquat Ahamed (Penguin Press, 2009) — the Pulitzer Prize-winning predecessor, referenced throughout. •       Episode 2928: Alexander Starritt on Drayton and Mackenzie — directly referenced at the opening; the 2008 companion. •       James Surowiecki, “Why Stocks Keep Going Up,” The Atlantic — referenced in the final exchange. About Keen On America Nobody asks more awkward questions than the Anglo-American writer and filmmaker Andrew Keen. In Keen On America, Andrew brings his pointed Transatlantic wit to making sense of the United States — hosting daily interviews about the history and future of this now venerable Republic. With nearly 2,900 episodes since the show launched on TechCrunch in 2010, Keen On America is the most prolific intellectual interview show in the history of podcasting. WebsiteSubstack

Is wholesale distribution entering its most disruptive era yet?In this episode of Around the Horn in Wholesale Distribution, Kevin Brown, Tom Burton, and Mark  Gilham of Enable unpack the forces reshaping the B2B supply chain: inflation measurement debates, Federal Reserve strategy, tariff refund accounting risks, buying group consolidation, maritime trade choke points, and the growing influence of AI on distributor–manufacturer relationships. This episode explores how data-driven decision making is shifting the industry from relationship-based instinct to AI-powered commercial intelligence, and what that means for distributors, manufacturers, CFOs, and industry leaders.What You'll Learn:The difference between core inflation vs trimmed average inflation, and why the metric matters for CFO planning, pricing strategy, and capital investment decisionsHow a more flexible Federal Reserve approach impacts interest rate modeling, debt refinancing, and working capital strategy in wholesale distributionWhy tariff refunds create accounting, tax, and downstream pricing pressure, and how distributors and manufacturers should prepareThe real impact of global maritime choke points like the Strait of Hormuz, Suez Canal, Panama Canal, and South China Sea on supply chain resilienceWhy buying groups like Evergreen are consolidating, and how rebate economics drive churn and competitive pressureHow AI could disrupt traditional distributor–manufacturer relationships by prioritizing margin analytics, pricing optimization, and product substitution models over loyaltyEpisode Highlights:03:22 – Mark  Gilham explains how Enable connects manufacturers and distributors through rebate and pricing intelligence11:45 – Core inflation vs trimmed average inflation: what's the difference and why does it matter for distributors?24:41 – A Greenspan-style Fed strategy: how rate uncertainty changes business forecasting42:30 – Tariff refund accounting risks and downstream pricing pressure across the supply chain57:45 – The six global maritime choke points and why “just-in-time” models increase fragility1:00:41 – Why Evergreen shut down and what buying group consolidation means for distributors1:14:42 – Manufacturers' growing concern: will AI override decades of channel relationships?1:23:48 – “It all depends on the brief the AI has.” How AI configuration shapes profitability and channel outcomesMeet the Guest:Mark  Gilham is a former distributor CFO and now a leader at Enable, a pricing and rebate management platform focused on helping manufacturers and distributors trade more intelligently in the B2B ecosystem. His expertise bridges finance, pricing strategy, rebate optimization, and AI-driven commercial execution.Tools, Frameworks, and Strategies Mentioned:Enable Rebate Management and Pricing IntelligenceLeadSmart Enterprise Growth PlatformRevenue Expander white space analyticsPrediction market data modeling for interest rate forecastingAI-driven commercial optimization and margin normalization modelsClosing Insight:“Future decisions are not going to be made based on a relationship. They're going to be made based on what the AI model tells the distributor.”As wholesale distribution evolves, the competitive edge will belong to organizations that combine trusted relationships with structured data, commercial intelligence, and AI-ready infrastructure.Leave a Review: Help us grow by sharing your thoughts on the show.Learn more about the LeadSmart AI B2B Sales Platform: https://www.leadsmarttech.com/Join the conversation each week on LinkedIn Live.Want even more insight to the stories we discuss each week? Subscribe to the Around The Horn Newsletter.You can also hear the podcast and other excellent content on our YouTube Channel.Follow us on Facebook, Twitter, Instagram, or TikTok.

Three months into the Iran war, Yemen's Iran-backed Houthi rebels have largely been absent, depriving Iran of an opportunity to increase further pressure on Saudi Arabia, global energy markets, and international trade. The Houthis could have bolstered Iranian leverage by disrupting shipping in the narrow Bab al-Mandab waterway, which connects the Suez Canal with the Arabian Sea and the Indian Ocean. Some ten per cent of global trade passes through the strategic waterway. The disruption would have come on top of Iran's throttling of shipping in the Strait of Hormuz through which 20 per cent of the world's oil flowed before the war and the US naval blockade of Iranian ports. It would also have threatened Saudi Arabia's efforts to enhance existing and develop alternative export routes that circumvent the Strait of Hormuz by directing oil and trade to the kingdom's Red Sea coast. The Houthis have good reason to hold their fire and limit their support for Iran to statements and the symbolic firing of a few missiles in the direction of Israel in the first month of the war.

When the storms in life strike, as they inevitably do, it feels as though we're caught in a small boat out on a stormy ocean. At that point, what we really need is some solid ground beneath our feet. And fortunately, God knows that only too well.   Dealt a Cruel Blow You know you can always tell when we are starting a new series – I am excited. I love to get onto a new series in God's Word and that's what we are doing today. We are starting a series called "On Solid Ground" to listen to what God has to say into one of the central dilemmas of our lives and that dilemma is this: dealing with the storms of life. I remember when I was a young boy – I was about four or five years old. My mother and my sister and I sailed in a ship from Australia to Europe. Now that was a four week sail through the Suez Canal and back again. It's a long way and I remember, even to this day, there were some huge storms along the way. I remember they had ropes in the corridors on the ship to hang onto. I have never forgotten those storms and remember, this was a large cruise ship and yet it seemed to get tossed around in those storms. I was sea sick; I was very afraid as a young kid, even though I was on this big cruise liner. I remember going out onto the deck and seeing the huge waves and the winds and the ship was pitching around in this fearsome ocean and for me, there is nothing as frightening as an angry sea and a violent storm – the ground as it were, moving under your feet. For some people life seems to be a constant storm. The ground under their feet is never solid – there is always some fear and some uncertainty and they can never quite figure out why. What is going on – why is my life always like this? Now many of these people believe in God and yet life seems to be one endless storm. What we really want to have is solid ground under our feet. When you are in a storm the question is – how? That's what we are going to be exploring in this series called "On Solid Ground" starting right here and right now. Now if you have a Bible, I'd like you to grab it because we are going to be spending most of our time in the first eight chapters in a Book called First Samuel, in the Old Testament. We are going to discover the truth that we kind of know or we should know and yet it gets lost in the world that we live in. See this is a 'me' centred world where so often we find ourselves going to God asking Him for things for me, for me, for me and little by little, instead of God being God we expect Him to start being like a performing dog – to do tricks on our command. It may seem harsh but you get God the wrong way around and it spells dog. Am I expecting God to start dancing to my tune or am I dancing to His? It's a good question. That's what we are going to be exploring in this story and it begins in the storm. It's a story about a woman called Hannah and it turns out that she is going through some incredibly tough times in her life but she has the Creator/creature relationship the right was up. Open you Bible – let's go to First Samuel – it's the ninth book of the Old Testament. It's kind of just over a third; between a third and a half way in. We are going to start at the first verse of the first chapter of First Samuel. There was a certain man from Ramathaim, a Zuphite from the hill country of Ephraim whose name was Elkanah, son of Jeroham the son of Elihu the son of Tohu the son of Zuph, an Ephraimite. He had two wives; one was called Hannah, the other Peninnah. And Peninnah had children but Hannah had none. Year after year this man went up from his town to worship and to sacrifice to the Lord Almighty at Shiloh where Hophni and Phinehas the two sons of Eli, were the priests of the Lord. Whenever the day came for Elkanah to sacrifice he would give portions of the meat to his wife Peninnah and to all her sons and daughters but to Hannah he gave a double portion because he loved her and the Lord had closed her womb. And because the Lord had closed her womb, her rival kept provoking her in order to irritate her. This went on year after year – whenever Hannah went up to the house of the Lord her rival provoked her until she wept and wouldn't eat. Elkanah, her husband would say "Hannah why are you weeping? Why don't you eat? Why are you down hearted? Don't I mean more to you than ten sons?" Pretty tough! Anybody who has ever gone childless or had someone in their family who has gone childless will know the incredible pain of a couple who would like to have a child and yet they can't conceive. Can you imagine this going on year after year after year and in between these annual trips, as well? And of course, there were two wives – now the Bible doesn't talk about the fact that there were two wives – obviously the author doesn't feel a need to comment – praise God that has gone away. But never the less, poor old Hannah had a pretty tough time – a real storm, year after year, the pain of being childless and she had lots of choices in that space. She could have been angry; she could have lashed out; she could have withdrawn. And her husband is pretty useless; typical male – "What's the matter, why are you crying? You've got me!" So what does Hannah do? Let's look at First Samuel chapter 1, beginning at verse 9: Once they had finished eating and drinking at Shiloh, Hannah stood up. Now Eli the priest was sitting on a chair by the door post of the Lord's temple. In the bitterness of her soul, Hannah wept much and prayed to the Lord and she made a vow saying "O Lord Almighty, if You will only look upon Your servants misery and remember me and don't forget Your servant but give her a son then I will give him to the Lord for all the days of his life and no razor will ever be used on his head." As she kept on praying to the Lord, Eli observed her mouth. Hannah was praying in her heart and her lips were moving but her voice was not heard. Eli thought she was drunk and said to her "How long will you keep on getting drunk? Get rid of your wine." "Not so my lord" Hannah replied, "I'm a woman whose deeply troubled. I haven't been drinking wine or beer. I was pouring out my soul to the Lord. Don't take your servant for a weak woman – I have been praying here about the great anguish and grief that I have." And Eli answered "Go in peace. May God of Israel grant you what you have asked Him." She said, "May your servant find favour in your eyes." Then she went her way and ate something and her face was no longer downcast. Turns out she does have a son, calls him Samuel, gives him over to God as soon as he is weaned and he comes and serves as a priest in this temple under Eli, whom we discover later is one bad dude. He is the priest; he is supposed to be the go between, between God and His people and yet he and his sons have no respect for God. We will look at them later and also we will see Samuel's fate. At the start of the programme I talked about this "me, me, me" thing – always asking God for stuff; kind of turning things the wrong way round, instead of us being made in God's image, we try to remake Him in ours. And yet here is this story – this story that begins in a storm – this story that begins with Hannah in a storm and she is asking God for something. Did you notice she doesn't lash out or whine or complain? She humbles herself before God and asks her sovereign God; pours her heart out to Him. Eli, this scoundrel, with as much spiritual insight as my pet cat, thinks she is drunk and feeds her with platitudes – "May the Lord give you what you ask for." Yet here is a simple woman at the bottom of the heap, pouring her heart out to her God. And notice what it says after she does that, in verse 18 of chapter 1: "Then she went her way and ate something and her face was no longer downcast." See Hannah's feet were on solid ground – even before her prayer is answered – a seemingly impossible prayer. You know what that tells me? She trusted her God – no matter what His answer would be – she trusted Him; she let it go; she stopped worrying and God answered her prayer. I'm not saying "Let's all be like Hannah" – we are clearly not, our storms are different to hers but what we discover in this story is that when we put God in His rightful place – God – He honours that. We are going to have a look at her understanding of her God again next.   Chalk and Cheese What comes next in this story is Hannah's prayer of thanksgiving. She is in this storm; she asks God for the impossible; she has got the taunts of the other wife and she comes to God in a prayer of humility; pouring out her soul and God answers her with a son and she gives that son back to God for the rest of his life. Now listen to what she prays and how she rejoices. We are now at chapter 2 of First Samuel, beginning at verse 1: Then Hannah prayed and said 'My heart rejoices in the Lord, in the Lord my horn is lifted high, my mouth boasts over my enemies for I delight in Your deliverance. There is no one holy like the Lord. There is no one besides You. There is no rock like our God. Do not keep talking so proudly or let your mouth speak such arrogance for the Lord is a God who knows and by Him deeds are weighed. The bows of warriors are broken but those who stumble are armed with strength.' And this prayer goes on and on ... read it for yourself in First Samuel chapter 2. And you know what it's all about? The power and the sovereignty of God! It's about a Hannah who went to God with this in her heart – God is above all things. Not this attitude of "Let's reform God in my image. Let's turn Him into a performing poodle." You know how I know that? Because when she poured out her heart to God she offered her son back to Him and she honoured that promise when God delivered her son. There is a challenge there for each one of us about how we go to God – how we see Him – as the King of Kings and the Lord of Lords or some puppy dog that performs tricks on our command? Come on! And how can we tell the difference? See, this is a very hard thing to discern sometimes. How can we tell the difference between a right and a wrong attitude towards God? Let's go back to His Word and we will see what a wrong attitude looks like when we look at the priest Eli and his sons. Join me is First Samuel chapter 2 verse 11. Remember Eli was the priest that was at the temple when Hannah went to pray. Eli's sons were wicked men; they had no regard for the Lord. Now it was the practice of the priests with the people, that whenever anyone offered a sacrifice and while the meat was being boiled, the servant of the priest would come with a three pronged fork in his hand, he would plunge it into the pan or the kettle or the cauldron or the pot and the priest would take for himself whatever the fork brought up. This is how they treated all the Israelites who came to Shiloh. But even before the fat was burned, the servants of the priest would come and say to the man who was sacrificing "Give the priest some meat to roast – he won't accept boiled meat from you but only raw." If the man said to him "Let the fat be burned up first and then take whatever you want, the servant would answer "No, hand it over now, if you don't I'll take it by force." So this sin of the young men; the young priests was very great in the Lord's sight for they were treating the Lord's offerings with contempt. You see the way we tell the difference about our heart attitude towards God is through how we behave. Hannah could have complained; Hannah could have fought back; Hannah could have acted up badly; she could have lashed out at her husband; she could have grumbled at the other wife and yet, in her pain, who could have blamed her? She could have shaken her fists at God and instead she went to Him with her mission impossible and poured out her heart to God and trusted Him because He is God and then she had peace. He honoured that! Here's an amazing truth – it's one of those pivotal passages in the Bible that tells us a huge amount about why, when we have a wrong heart toward God, things go badly in our lives. Listen to First Samuel chapter 2, verse 30; this is a verse that's worth writing down. God says: For those who honour Me, I will honour. And those who despise Me shall be treated with contempt. And what we read in the remainder of chapter 2 of First Samuel, starting at verse 27, is that God deals with Eli and his two sons and He sends a prophet to Eli and this is what happens. First Samuel chapter 2, verse 27: Now, a man of God came to Eli and said to him "This is what the Lord says" "Did I not clearly reveal Myself to your father's house when they were in Egypt, under Pharaoh? I chose your father out of all the tribes of Israel to be My priest, to go up to My alter to burn My incense, to wear an ephod in My presence. I also gave your father's house all the offerings made with fire by the Israelites. "So why do you scorn My sacrifice and offering that I prescribed from My dwelling? Why do you honour your sons more than Me by fattening yourselves on the choice parts of every offering made by My people Israel?" Therefore the Lord, the God of Israel declares "I promised that your house and your father's house would minister before Me forever," but now the Lord declares "Far be it from Me; those who honour Me, I will honour but those who despise Me I will disdain. The time is coming when I will cut short your strength and the strength of your father's house so that there will not be an old man in your family and you will see distress in the dwelling and good will be done to Israel. In your family line there will never be an old man. Every one of you that I do not cut off from My alter, will be spared only to blind your eyes with tears and grieve you heart and all your descendants will die in the prime of their lives. And what happens to your sons Hophni and Phinehas will be a sign to you - they will both die on the same day. And I will raise up for Myself a faithful priest who will do according to what is in My heart and in My mind. I will firmly establish his house and he will minister before My anointed one always. Then everyone left in the family line will come and bow down before him for a piece of silver and a crust of bread and plead "Appoint me to some priestly office so I can have food to eat." The boy Samuel ministered before the Lord under Eli. In those days the Word of the Lord was rare – there were not many visions. There it is – these priests were in a position of power and authority and responsibility and they ... they didn't honour God, in their words and in their deeds, they rejected Him. And God dealt with them. Hannah on the other hand – well, she was like chalk and cheese compared to Eli, Hophni and Phinehas. Hannah was the lowly of the lowly – these priests were on the top of the social religious register but that made no difference to God. "I will honour those who honour Me and those who despise Me shall be treated with contempt." The priests failed! The Word of the Lord was rare – their job was to tell people what the Word of the Lord was and yet, in those days it was rare. You know, if you can't change the people, sometimes you have to change the people and that's exactly what God does here. Ultimately, young Samuel becomes the priest and the prophet of Israel – he is the one that grows in favour and we are going to look at his story next week.   It's About Honour Let me ask you something. Who was on solid ground, Hannah who honoured God or the priests Eli, Hophni and Phinehas who pleased themselves? See, it's so easy to be like Eli, Hophni and Phinehas but it's hard to be like Hannah. You know why? Because we can't really see God – not like we can see the physical reality that we are in – not like we can see our circumstances – not like we can see the storm and feel the fear. All those things seem so much more real than this notion of a God that we can't see – a God that we have to put our faith in instead of being able to touch and hear physically. And so this present reality takes over and God has to fit into our present reality. Absolutely, it is easy to be like Eli, Hophni and Phinehas! It's easy to relegate God to one of the things that has to fit into our present daily agenda. But God is no less real for the fact that we physically can't see Him. He is no less powerful for the fact that we interact with Him in faith. God is God and solid ground is the place that Hannah knew – she stood before God. I once heard someone say that peace is trusting in the sovereignty of God. Hannah had that peace. For that very reason – in the eye of her perfect storm, in that place of taunts and disappointments and hurts that she couldn't even utter when she poured out her heart to God – Hannah discovered God's peace through a simple, simple act of faith. So many times over these recent years for me, when the storms have blown in – so many times and you know, in a sense - each time I feel so inadequate to deal with those storms. Isn't that the point? When we are on that ship in the ocean, doesn't matter how big the ship is; doesn't matter how strong we are, we are nothing compared to those storms. People come against you – circumstances, finances, things that really hurt, things of real fear, horrible things that people do – and we feel so inadequate just going and praying about them, well, "What good is that?" But you know what that prayer of faith is? That prayer of anguish and pouring out our hearts before the Lord, like Hannah did, it's honouring Him as the sovereign God. It's saying "God I may be smaller than this storm but this storm is nothing more than a pin prick for You. You are above all things, above all powers, above all dominions and circumstances and storms." And listen again to God's Word. First Samuel chapter 2 and verse 30. God says: I will honour those who honour Me and those who despise Me will be treated with contempt. Who had solid ground under their feet – Hannah or Eli, Hophni and Phinehas? Now next week we are going to see how God's contempt was poured out on Eli, Hophni and Phinehas. Remember that prophesy from the man of God, saying to Eli, "Your two sons Hophni and Phinehas are going to die on the same day as a sign to you that there will never be another old man in your line." We are going to see that happen next week and we are also going to see how God's honour was carried forth for Hannah through Samuel her son. We haven't talked a whole lot about him today but this Book is named after him – First Samuel. We will see that next week on the programme. God blesses Samuel – God sets him up as the priest and the prophet and the judge over the whole of the nation of Israel. This nobody woman, this Hannah, who couldn't have a son, honours her God and God takes that and changes the course of history. God's blessing to Hannah flowed on, down the generations through her son. The question we need to ask ourselves is this: when I look at my life, when you look at your life, do we look like Hannah or Eli? Because that's how I figure out whether I'm someone who honours God as the King of Kings and the Lord of Lords, as the sovereign of all things. Is this the God I go to, to pour my heart out to? Or do I steal His stuff? Is He the God I rejoice in when He answers me or the God who I try to kind of fit into my schedule when I can be bothered? That God who I manipulate and massage and mould into whatever I want Him to be. Make no mistake – God takes His honour and His glory very, very seriously. He gives them away to no man and to no woman. And as we will find out in the lives of Eli, Hophni and Phinehas, it's a matter of life and death.

A stalemated war. Fractured alliances. A rival waiting in the wings. It feels to me that we're having an “end of the American empire” moment. My guest this week, Ray Dalio, is an unlikely prophet of doom — the billionaire Bridgewater investor conquered Wall Street by studying history and mastering global trends. He foresaw the 2008 financial crisis,and these days he's warning that the U.S. is repeating the patterns that ended great empires of the past. 0:00 - Intro 01:24 - The rise and fall of empires through big cycles 08:35 - Geopolitical tensions: China, Iran and the Suez Canal 14:27 - Fiat currency or gold? 24:19 - America's coming ‘heart attack' 30:37 - Acts of nature, A.I. and technology 43:37 - ‘Could we have a Japanese future?' (A full transcript of this episode is available on the Times website.) Thoughts? Email us at interestingtimes@nytimes.com. Please subscribe to our YouTube Channel, Interesting Times with Ross Douthat. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-access/audio?source=podcatcher. For more podcasts and narrated articles, download The New York Times app at nytimes.com/app. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today on the show: the Epstein suicide note released plus Steven Portnoy from ABC News on the Lutnik testimony. Tyler Kendall from Bloomberg with the latest on the war. Travel Expert Peter Greenberg live from the Suez Canal. Plus, Justin Gray from WSB-TV live in studio. 9am-noon on 95.5 WSB.

Today on the show: the Epstein suicide note released plus Steven Portnoy from ABC News on the Lutnik testimony. Tyler Kendall from Bloomberg with the latest on the war. Travel Expert Peter Greenberg live from the Suez Canal. Plus, Justin Gray from WSB-TV live in studio. 9am-noon on 95.5 WSB.

Today on the show: the Epstein suicide note released plus Steven Portnoy from ABC News on the Lutnik testimony. Tyler Kendall from Bloomberg with the latest on the war. Travel Expert Peter Greenberg live from the Suez Canal. Plus, Justin Gray from WSB-TV live in studio. 9am-noon on 95.5 WSB.

What does it take to spend 50 years championing history's most maligned king and turn that passion into six published novels?This week on Rock, Paper, Swords, hosts Justin Hill and Matthew Harffy are joined by Anne Easter Smith, author of a celebrated series of novels spanning the entire York dynasty. Born near Winchester, raised partly in Egypt watching Suez Canal convoys from her window, and a resident of the United States since 1968, Anne has one of the most extraordinary life stories we've heard on the show, and it's all filtered into the rich, meticulous historical fiction she writes.Anne tells us how Josephine Tey's The Daughter of Time converted her into a lifelong Ricardian at the age of 21, how a chance meeting at a New York City party led to a publishing deal with Simon & Schuster, and how she built her six-novel York dynasty series from the ground up, always insisting on visiting every location her characters walk through.We also dig into the realities of the publishing industry: the golden age of author tours and dedicated publicists, the impact of the 2008 recession on advances and promotion, and the surprisingly personal dynamics of the agent-author relationship.Anne also previews her upcoming panel at the Historical Novel Society Conference in Maynooth, where she'll join Margaret George and Leslie Carroll to make the case for history's supposed villains: Richard III, Nero, and Marie Antoinette.Before Anne joins us, Justin and Matthew check in on their own writing: Matthew is filling in the historical detail on his first Roman novel (a possible new series set in ancient Rome), while Justin is on deadline for his latest Warhammer novel and thinking ahead to a contemporary shipping story.A brilliant conversation about history, storytelling, the craft of writing, and the power of fiction to make us feel the past.Watch on YouTube: https://youtu.be/E0uAV2wuJg0Support the show on Patreon from just £1/month — bonus episodes, Q&As, and more: https://www.patreon.com/c/RockPaperSwordsPodcasthttps://linktr.ee/RockPaperSwords

Preview for Later Today: Edmund Fitton-Brown compares the Strait of Hormuz and Bab el-Mandeb maritime choke points. He notes the Red Sea's accessibility via the Suez Canal and the varying capabilities of regional threats like the Houthis. (2)1869 SUEZ CANAL

After the French project to build a canal through Panama collapses in 1889 amidst disease and financial scandal, US President Teddy Roosevelt resolves to pick up where they left off. However, powerful interests in Washington are aggressively lobbying for a different route – not through Panama, but Nicaragua. As debate rages and backdoor deals are made, Panama becomes a lightning rod for controversy…and revolution.    SOURCES: Burton, Anthony. The Canal Pioneers: Canal Construction from 2500 BC to the Early 20th Century. Barnsley, UK: Pen & Sword Maritime, 2018. Charles River Editors. The Panama Canal: The Construction and History of the Waterway Between the Atlantic and Pacific Oceans. CreateSpace Independent Publishing, 2013. Diaz Espino, Ovidio. How Wall Street Created a Nation: J.P. Morgan, Teddy Roosevelt, and the Panama Canal. New York: Four Walls Eight Windows, 2003. Greene, Julie. The Canal Builders: Making America's Empire at the Panama Canal. New York: Penguin Press, 2009. Karabell, Zachary. Parting the Desert: The Creation of the Suez Canal. New York: Alfred A. Knopf, 2003. Keller, Ulrich. The Building of the Panama Canal in Historic Photographs. New York: Dover Publications, 1983. Lasso, Marixa. Erased: The Untold Story of the Panama Canal. Cambridge, MA: Harvard University Press, 2019. Lindsay, John. Emperors in the Jungle: The Hidden History of the U.S. in Panama. 2003. Lopez, Sean J. Chokepoint: The Epic History of the Suez Canal. New Haven, CT: Yale University Press, 2024. Marlowe, Elias. A History of Panama: Canal, Conquest, and Independence. Albuquerque: University of New Mexico Press, 2012. McCullough, David. The Path Between the Seas: The Creation of the Panama Canal, 1870–1914. New York: Simon & Schuster, 1977. Morton, Levi P. “No. 105. Mr. Morton to Mr. Frelinghuysen.” Papers Relating to the Foreign Relations of the United States, Transmitted to Congress, With the Annual Message of the President, December 1, 1884, U.S. Department of State Office of the Historian, 5 July 1884,https://history.state.gov/historicaldocuments/frus1884/d105 Parker, Matthew. Panama Fever: The Epic Story of the Building of the Panama Canal. New York: Doubleday, 2007. Learn more about your ad choices. Visit megaphone.fm/adchoices

Subscribe now for early access, ad-free listening, and bonus content! Great Britain, France, and Israel's secret plan in 1956 to invade Egypt, regain control of the Suez Canal, and force the nationalist strongman Gamal Nasser from power ended in strategic disaster. The Eisenhower administration angrily opposed the surprise attack and pressured the aggressors to withdraw, ensuring Egypt would maintain control of the vital waterway. Today, as the U.S. fights a war of choice against Iran with no easy way to reopen the Strait of Hormuz, some believe the United States is experiencing its own 'Suez moment,' which will accelerate its strategic decline in a region where so many American projects have failed. Historian Salim Yaqub is our guest. Salim Yaqub is a historian at U.C. Santa Barbara and an expert on U.S. involvement in the Middle East in the postwar era. He's the author of "Containing Arab Nationalism: The Eisenhower Doctrine and the Middle East."

**Binge to the entire series ad-free by joining the Empire Club at empirepoduk.com** How did the oil crisis totally transform the wealth of the Gulf states and alter the power balance of the Middle East? Who was Egypt's underrated president, Sadat? How did water cannons destroy Israel's seemingly impenetrable defenses along the Suez Canal in 1973? In Episode 5 of our series on the Arab-Israeli Conflict of 1967-1982, William and Anita discuss the shocking events of the Yom Kippur War and the first time that oil prices were used as a weapon of war. Sign up and get 10% off at BetterHelp.com/EMPIRE. Join the Empire Club: Unlock the full Empire experience – with bonus episodes, ad-free listening, early access to miniseries and live show tickets, exclusive book discounts, a members-only newsletter, and access to our private Discord chatroom. Sign up directly at empirepoduk.com  For more Goalhanger Podcasts, head to www.goalhanger.com. Email: empire@goalhanger.com Instagram: @empirepoduk Blue Sky: @empirepoduk X: @empirepoduk Assistant Producer: Imogen Marriott Editor: James Clayden Social Producer: Charlie Johnson Producer: Anouska Lewis Executive Producer: Dom Johnson Learn more about your ad choices. Visit podcastchoices.com/adchoices

"God does not listen to the prayers of those who wage war. He rejects them." When the Pope issues a direct condemnation of a sitting U.S. Defense Secretary, we aren't just talking about policy failure — we're talking moral apocalypse. Pete Hegseth isn't just running a war; he's leading a Middle Eastern crusade, complete with his "Deus Vult" ink to prove it. But what happens when the "Holy War" you've been praying for finally arrives, and you're losing? In this episode, we expose the rot that is Christian Nationalism. The Vatican's Rebuke: Why Pope Leo just stripped the moral cover off Hegseth's "Operation Epic Fury." ⛪ The "Deus Vult" Pentagon: Inside Hegseth's Christian Nationalist monthly prayer service and the "Christian-based culture" being forced on our military in violation of the First Amendment.

Estimates are that $200B of goods have already been diverted away from the region surrounding Yemen in the Gulf of Aden and the Red Sea. The disruptions in travel through the Suez Canal have cascading effects that are felt worldwide, as it puts additional pressure on the supply chain.There is fear of an event drawing Iran into some kind of conflict in the region, which would see the Straight of Hormuz come under the watchful eye of the Iranian government, further adding to shipping issues impacting the oil and LNG exports coming out of that geographic region.It is also worth noting that the expansion of BRICS into this region works to solidify China's connections through the Belt & Road Initiative, while also locking down and securing the shipping lanes to make sure that the oil can continue to leave the region through the Persian Gulf and the Red Sea.—Video ChannelsWatch the video version of Macroaggressions:Rumble: https://rumble.com/c/Macroaggressions YouTube: https://www.youtube.com/@MacroaggressionsPodcastBrighteon: https://www.brighteon.com/channels/macroaggressions/—MACRO & Charlie Robinson LinksHypocrazy Audiobook: https://amzn.to/4aogwmsThe Octopus of Global Control Audiobook: https://amzn.to/3xu0rMmWebsite: www.Macroaggressions.ioMerch Store: https://macroaggressions.dashery.com/ Link Tree: https://linktr.ee/macroaggressionspodcast—Activist Post FamilySign up for the Activist Post Newsletter: https://activistpost.kit.com/emailsActivist Post: www.ActivistPost.comNatural Blaze: www.NaturalBlaze.com —Support Our SponsorsGround Luxe Grounding Mats: https://GroundLuxe.com/MACROReplace Your Mortgage: www.WipeOutYourMortgageNow.comC60 Power: https://go.ShopC60.com/PBGRT/KMKS9/ | Promo Code: MACROChemical Free Body: https://ChemicalFreeBody.com/macro/ | Promo Code: MACROWise Wolf Gold & Silver: https://Macroaggressions.Gold/ | (800) 426-1836LegalShield: www.DontGetPushedAround.comEMP Shield: www.EMPShield.com | Promo Code: MACROChristian Yordanov's Health Program: www.LiveLongerFormula.com/macroAbove Phone: https://AbovePhone.com/macro/Van Man: https://VanMan.shop/?ref=MACRO | Promo Code: MACROThe Dollar Vigilante: https://DollarVigilante.spiffy.co/a/O3wCWenlXN/4471Nesa's Hemp: www.NesasHemp.com | Promo Code: MACROAugason Farms: https://AugasonFarms.com/MACRO—

How did the humble date palm become entangled in the great age of empire? Why did steamships, railways, and the opening of the Suez Canal transform an ancient oasis crop into a global commodity? And how did a handful of date palms - smuggled across deserts, nearly lost to a curious dog, and later replanted in California - come to shape the modern global date industry?Join John and Patrick for the second part of their story on the history of dates, as imperial expansion, desert espionage, and ambitious American plant hunters carry this ancient fruit from the oases of North Africa and the Middle East to the highways of Southern California, and even back from seeds two thousand years old.----------In Sponsorship with Cornell University: Dyson Cornell SC Johnson College of Business-----------Join the History of Fresh Produce Club for ad-free listening, bonus episodes, book discounts and access to an exclusive chatroom community.Support us!Share this episode with your friendsGive a 5-star ratingWrite a review-----------Subscribe to our biweekly newsletter here for extra stories related to recent episodes, book recommendations, a sneak peek of upcoming episodes and more.-----------Instagram, TikTok, Threads:@historyoffreshproduceEmail: historyoffreshproduce@gmail.com

Welcome to The Daily Wrap Up, an in-depth investigatory show dedicated to bringing you the most relevant independent news, as we see it, from the last 24 hours (3/23/26). As always, take the information discussed in the video below and research it for yourself, and come to your own conclusions. Anyone telling you what the truth is, or claiming they have the answer, is likely leading you astray, for one reason or another. Stay Vigilant. !function(r,u,m,b,l,e){r._Rumble=b,r[b]||(r[b]=function(){(r[b]._=r[b]._||[]).push(arguments);if(r[b]._.length==1){l=u.createElement(m),e=u.getElementsByTagName(m)[0],l.async=1,l.src="https://rumble.com/embedJS/u2q643"+(arguments[1].video?'.'+arguments[1].video:'')+"/?url="+encodeURIComponent(location.href)+"&args="+encodeURIComponent(JSON.stringify([].slice.apply(arguments))),e.parentNode.insertBefore(l,e)}})}(window, document, "script", "Rumble");   Rumble("play", {"video":"v75c6xi","div":"rumble_v75c6xi"}); Source Links (In Chronological Order):  (21) B L A K E L E Y™℠©® LLC on X: "Please follow me on @backupblakeley while I deal with this crap." / X (21) Mark Gadala-Maria on X: "This is wild. 143 million people thought they were catching Pokémon. They were actually building one of the largest real-world visual datasets in AI history. Niantic just disclosed that photos and AR scans collected through Pokémon Go have produced a dataset of over 30 billion" / X (21) markgoodw.in on X: "hey @Support you blocked @_whitneywebb's ability to log into X due to suspicious logins detected. asking for help to bump this in the support cue with likes and retweets so we can promo this new piece! cheers everyone." / X X Users Find Their Real Names Are Being Googled in Israel After Using X Verification Software "Au10tix" (21) Jordan on X: "DATA CENTERS UNDER CONSTRUCTION IN THE UNITED STATES The number of data centers currently under construction by state shows how quickly AI infrastructure is expanding. Texas — 135 Virginia — 134 Georgia — 51 Ohio — 45 Arizona — 35 Nevada — 29 Indiana — 21 Mississippi — 21 https://t.co/NiWf0ZbXTb" / X Welcome to the Palantir World Order (21) Dirty Indy

“We need to get back to something where freedom of navigation and peaceful navigation is restored, and that will depend on some kind of deal between the two sides in that war.” Jonathan Josephs speaks to Vincent Clerc, CEO of Maersk the world's second largest shipping company. The conflict between Iran, Israel and the United States has led to the closure of the vital Strait of Hormuz. It's one of the world's most important shipping routes which before this war, carried about a fifth of global oil supplies. Cargo ships there are being targeted, and seafarers have been killed. The disruption is halting the transport of vital cargo containers and pushing up energy prices. Countries in the Gulf region like Saudi Arabia, rely heavily on energy exports, and, Asia, where much of it is sold, will be hit hard. Food and fertiliser supplies are also being affected. It's not just the Strait of Hormuz that's being disrupted. Security threats mean shipping is also avoiding the Red Sea route through the Suez Canal, which because of the sheer volume of cargo traffic, is arguably more important to global trade. Vincent Clerc says the cost of war will have to be passed on, leading to higher prices for consumers around the world. Thank you to Jonathan Josephs for his help in making this programme. The Interview brings you conversations with people shaping our world, from all over the world. The best interviews from the BBC, including episodes with Majid Takht-Ravanchi, Iran's deputy foreign minister, Jamie Dimon Chief Executiveof JP Morgan Chase and many others. You can listen on the BBC World Service on Mondays, Wednesdays and Fridays at 0800 GMT. Or you can listen to The Interview as a podcast, out three times a week on BBC Sounds or wherever you get your podcasts. Presenter: Jonathan Josephs Producer: Clare Williamson Editor: Damon Rose Get in touch with us on email TheInterview@bbc.co.uk and use the hashtag #TheInterviewBBC on social media.(Image: Vincent Clerc Credit: BBC)

Subscribe now to skip the ads and get all of our episodes. Danny and Derek speak with historian Alfred McCoy about how the Cold War operated as a global conflict influenced by decolonization, covert action, and geopolitical strategy. They discuss the role of individual intelligence operatives as “men on the spot”; Cold War rivalry and the collapse of European empires; how conflicts across Asia, Africa, and Latin America produced much of the war's violence; the development of U.S. containment strategy and covert action institutions; and Iran as flashpoint in Cold War and post-Cold War geopolitics, and how Alfred interprets these conflicts through a lens of imperial decline and strategic chokepoints like the Suez Canal and the Strait of Hormuz. Buy Alfred's book Cold War on Five Continents! Reading recommendation: The Cold War's Killing Fields: Rethinking the Long Peace by Paul Thomas Chamberlin. Learn more about your ad choices. Visit megaphone.fm/adchoices

SHOW SCHEDULE 3-4-20261910 CARTHAGEVictoria Coates argues China's interest in international law masks an inability to project power compared to the United States, which remains the regional "strong horse." (1)General Blaine Holt explains "missile math," where cheap drones force expensive defensive responses, requiring a strategy of targeting adversary production capabilities and launch sites directly. (2)Steve Yates discusses how Asian allies find assurance in US missile defense tech while Beijing faces internal military purges and doubts about its own technology. (3)Steve Yates explores the fragile nature of the War Powers Act and praises Senator John Fetterman for his clear, principled stance regarding the Middle East conflict. (4)Peter Berkowitz traces the current conflict to the October 7 atrocities, emphasizing the Islamic Republic of Iran's long-term funding and coordination of its proxy groups. (5)Peter Berkowitz examines Secretary Rubio's speech on Western traditions, arguing the US fights to secure Americanfreedom and global interests against hostile, non-democratic regional actors. (6)Anatoly Zak reveals the history of the T2K, a secret Soviet lunar lander prototype tested in Earth orbit to compete with the American Apollo program. (7)Anatoly Zak attributes the Soviet failure to reach the moon to late funding, lack of military interest, and the unreliability of the super-heavy N1 rocket engines. (8)Ivana Stradner warns that Moscow uses the Iran conflict to spread propaganda claiming US abandonment of Ukraine, aiming to polarize the West and demoralize allies. (9)Ivana Stradner explains how manipulated satellite imagery and AI-generated footage are used by Iran and Russia to spread fear and claim false victories in war zones. (10)Gregory Copley analyzes European responses, noting UK Prime Minister Starmer's perceived weakness and the largely symbolic nature of French nuclear and naval deployments in the region. (11)Gregory Copley explores regional reactions, noting Australia's military integration with the US and Beijing's shock as its propaganda regarding Iranian invulnerability is proven false. (12)Mariam Wahba explains why Egypt remains unattacked by Iran and discusses President Al-Sisi's potential future role in regional rebuilding and stabilizing the Suez Canal. (13)Michael Bernstam analyzes how spiked oil prices temporarily benefit Russia's budget, though the loss of Iranian drone supplies creates significant strategic and long-term logistical setbacks. (14)Bob Zimmerman highlights SpaceX's routine orbital successes while contrasting them with China's rational, long-term plan to land humans on the moon by the year 2030. (15)Bob Zimmerman details the sun's unpredictable sunspot decline and its influence on climate, alongside deep-space observations of the Cat's Eye nebula by the Euclid telescope. (16)

Mariam Wahba explains why Egypt remains unattacked by Iran and discusses President Al-Sisi's potential future role in regional rebuilding and stabilizing the Suez Canal. (13)1910 SHEPHEARD'S HOTEL

Stay informed on current events, visit www.NaturalNews.com - War Escalation in the Middle East (0:11) - Infographic and War Steps (1:47) - Nuclear Escalation and Global Implications (3:37) - Impact on Global Stability and US Military (6:40) - AI Features and Preparedness (8:34) - Pentagon Concerns and Domestic Threats (13:50) - Iranian Claims and Amazon AWS Center Attack (20:27) - Anti-Muslim Rhetoric and Christian Zionism (23:16) - Escalation to Nuclear War (27:05) - Economic and Political Implications (43:17) - Strategic Targeting and Radar Destruction (54:46) - China's Role and Future Projections (1:15:33) - Mike Adams' Introduction and Initial Thoughts on the Middle East Conflict (1:18:33) - Michael Yon's Perspective on the Middle East Conflict (1:28:17) - Adams and Yon on the Impact of the War on Global Supply Chains (1:31:17) - The Role of Zionists and the Global Routes and Resources War (1:38:29) - The Potential for Escalation and the Role of the United States (1:48:57) - The Impact of the Conflict on Global Trade and Energy Prices (1:49:14) - The Role of Gold and Silver in the Conflict (1:54:19) - The Potential for False Flag Operations and Domestic Terrorism (2:00:10) - The Political Fallout of the Conflict (2:00:29) - The Strategic Importance of the Strait of Hormuz and the Suez Canal (2:01:05) - Control of Strategic Waterways and Geopolitical Implications (2:01:58) - Declining Support for Zionism (2:37:36) - Iran's Strength and the Long-Term Conflict Outlook (2:41:08) - Europe's Financial Struggles and the Impact of Tax Policies (2:43:47) - Preparation for Future Changes and Geopolitical Predictions (2:45:57) - The Role of Trump and the Impact of the Death Jab (2:50:40) - Final Thoughts and Recommendations for Audience (2:54:19) Watch more independent videos at http://www.brighteon.com/channel/hrreport  ▶️ Support our mission by shopping at the Health Ranger Store - https://www.healthrangerstore.com ▶️ Check out exclusive deals and special offers at https://rangerdeals.com ▶️ Sign up for our newsletter to stay informed: https://www.naturalnews.com/Readerregistration.html Watch more exclusive videos here:

Economic decisions aren't only driven by hard data. A compelling story can change economic behavior and outcomes. In today's episode, we explore real-world examples of “narrative economics” like how the Suez Canal ended up getting built. And we ask: why do narratives sometimes matter more than truth or data? Related episodes: This indicator hasn't flashed this red since the dot-com bubble Tariffs. Consumer sentiment. Cape Ratio. Pick The Indicator of The Year! The Beigie Awards: Manufacturing takes center stage For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.  Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy