Collapse Fears Spread as Europe Erupts in Protest and Iran Tensions Simmer
Fear is spreading fast as protests explode across Europe and the US-Iran standoff stays dangerously unresolved, and it looks bad for ordinary people everywhere while the wealthy and tech industry keep cashing in.
- Mass protests have broken out across France, Italy, Spain, Albania, and Serbia, with police using tear gas and water cannons and at least two deaths reported in France; people are angry about high costs of living and a broken economy for young people.
- The US and Iran are not at war again yet, but risk is rising, and Iran reportedly holds a stronger hand than before since it can threaten to block the Strait of Hormuz, a key route for world oil.
- The Black Sea is now called the deadliest shipping route on earth, with more sailors dying there than in the Middle East, as the Russia-Ukraine conflict keeps disrupting trade.
- China's economic slowdown is hitting Europe hard too, with European luxury companies losing huge value as Chinese shoppers pull back.
- AI companies like Anthropic are pitching investors on technology that could replace jobs, even as several employees reportedly quit, raising doubts about how stable the AI boom really is; meanwhile countries like Nigeria are leaning into cheap solar power as fuel costs rise.
Outlook: Expect continued unrest in Europe and jittery markets as the Iran situation and economic strain remain unresolved going into the US midterms.