The Strait of Hormuz remains closed and the economic costs of the war keep mounting. Yet markets are trading like the war is over. The wisdom of crowds? Or delusion? Niall Ferguson breaks down the situation. If you’re trying to keep up with the latest in the Iran war, you’d be forgiven for being a little confused. Just this weekend, we went from Donald Trump declaring on Friday that the Strait of Hormuz was “COMPLETELY OPEN AND READY FOR BUSINESS” to acc... [1296 chars]
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