
From me this week as Nat Wilson Turner
This week at Naked Capitalism I pulled a shift covering the Iran War and tried to connect the dots between Pete Hegseth’s Department of War and what’s going on with Meta and OpenAI.
I also continued my “Joe Biden’s Three Genocides in Four Years” series with the first installment of the Ukraine debacle.
- Iran War: Ansar Allah Takes Mocha and the Bab el-Mandeb Islands, Putting Both Chokepoints in Play — Naked Capitalism,
- Coffee Break: Hegseth, Altman and Zuckerberg, Elite Impunity Run Amock — Naked Capitalism
- Joe Biden’s Three Genocides in Four Years: Ukraine, Part 1 — Ian Welsh
- Coffee Break: Labor Day Songs & Stories From the Let It Roll Podcast — Naked Capitalism
More of what I wrote and recorded for The MMA Draw and The Let It Roll Podcast is at the bottom of this post but I wanted to feature the news links and think pieces.
What I’m Reading and Watching
The Iran War
- The Iran War Has Just Had A Major Phase Change — Ian Welsh. On the interceptor math: the US runs out long before Iran does if Iran chooses to go all out, and hitting only three or four tankers a day was a choice rather than a ceiling.
“As I said day one of the war, the math is on Iran’s side: the US will run out of interceptors long before Iran if Iran chooses to go all out.”
- The Shattered Myth of US Military Primacy — Steve Jermy
- Exclusive: Pakistan warns Iran to rein in Houthis as Riyadh strikes back — Reuters. Will Saudi’s new daddy actually do anything to protect them from mean ol’ Ansar Allah? I wouldn’t bet on it. What’s Pakistan gonna do? Bomb the Houthis? They’ve been bombed since 2015 by the Saudis, the UAE, the US & UK. Would Pakistan actually send ground forces to the Arabian Peninsula? What would India have to say about that?
- Iran Ready for More Intense War, Won’t Relent, Official Says — Bloomberg
- Is Oil Blocked or Flowing? Co-Founder of Tanker Trackers Samir Madani Joins WGOW Shipping (YouTube) — What’s Going on With Shipping. Show host Sal Mercogliano is a top subject matter expert on shipping and Samir Madani is *THE* subject matter expert on oil tankers. Pay attention to the industry experts, ignore the cable news pundits and especially the Trump administration idiots.
- Col. Larry Wilkerson: Trump Has No Plan in Iran. Hegseth Is Running It — and Lying to Everyone (YouTube) — Ian Proud. Col. Wilkerson is one of my absolute favorite alt-media geostrategic stars. Former UK diplomat Ian Proud is a knowledgable and affable host.
- Oil Price Soars as Wars on Yemen and Iran Escalate (YouTube) — Dimitri Lascaris. A Greek-Canadian who’s spent a lot of time in Lebanon and other West Asian locations. Good coverage of the ME war.
- Amb. Chas Freeman: Saudi Arabia’s Major Losses Amid Israel’s Crumbling War (YouTube) — Dialogue Works. Nima is great and Ambassador Chas Freeman is one of the sage voices from the Silent Generation who understands how US foreign policy went so wrong.
- Houthis Take the Strait | MBS Begs Trump Twice | Ukraine to Draft Women? — (YouTube) Conversations Among The Ruins. I enjoy the dynamic between Charlie and his (incredibly well informed) dad.
Empire, and what it remembers
- Biden And Netanyahoo Were Warned Of Oct. 7 – Both Ignored The Hostages — Moon of Alabama. The more we learn about what went on to trigger the Gaza genocide the worse it gets. Hell awaits.
- Long 9/11 – Sam Husseini and Aaron Good (YouTube) — American Exception
Aaron is joined by congressional candidate San Husseini, whom you might remember for holding Biden State Department Spokesweasel Matt Miller to account until they finally dragged him out of the press room on Miller’s last disgraceful day. - When 9/11 Got Hip-Hop, It Killed Dissent — Un-Diplomatic
- 25 Years Ago a Bunch of Important People Skipped Work for No Reason — Sean P. McCarthy. Every year it seems like 9/11 gets a little truthier.
- 25 Years of War Was the Wrong Response to 9/11 — Medea Benjamin and Nicolas J. S. Davies at Naked Capitalism. Obvious but bears repeating.
- Europe Has Lost Its Guiding Myth — Alastair Crooke. From 2023, even more accurate today.
- The Kingdom that sold the world — Karim Zidan at Sports Politika. Karim knows Saudi politics like no one else. I gave Karim his start in journalism at Bloody Elbow and I’m always proud to show off his work whether it’s at the NYT or on his own site. His book THE ULTIMATE STRONGMEN: MMA and the Rise of the Authoritarian Right is coming out soon.
The AI trade
- The A.I. Industry will never rein itself in — Dave Karpf
- No, Anderson Cooper, AI is not going to kill all humans by 2030 — Gary Marcus. AI is already causing harms and there are many real risks, but the constant focus on absurd end-of-the-world fantasies has made the situation worse.
- Stop Panicking About AI — Matt Stoller, BIG. Reads the doomer wave as a business strategy: the resignations and the “could kill all humans” claims are running straight into Anthropic’s IPO, expected within about six weeks at a multi-trillion valuation, while the frontier labs still have no demonstrated path to profit.
Money
What the heck is going on with the bond market, private equity, etc
- The Impotence of Being Kevin Warsh — James K. Galbraith at INET. The tools and concepts guiding monetary policy may no longer fit an economy reshaped by AI, shifting prices, and the fading power of interest rates.
- Private Equity: How the Big Long Became a Long Con as Fund Managers Hang on to Investor Funds — Sebastien Canderle at Naked Capitalism. PE managers have been struggling to dispose of portfolio assets since the rate rises that followed the war in Ukraine; for some the exit dry spell is turning into an existential threat.
- Has capitalism failed, or has neoliberalism destroyed it? — Richard Murphy
Also worth your time
- We Might All Pay for Corpus Christi’s Water Crisis — Texas Monthly. Polycrisis hitting close to home for yours truly.
- Trump Plan Would Bar Millions of Americans From Voting by Mail, States Tell Supreme Court — The Jackpot. The 2026 elections shenanigans watch.
- LIVE FROM MOSCOW: Putin’s Patience Is OVER! Ukraine Faces COLLAPSE (YouTube) — Larry Johnson & Judge Napolitano. Doesn’t get more Putin Puppet than this. Funny how “Russian propaganda” (from a former Fox News host and a retired CIA analyst) like this inevitably bears more resemblance to consensus reality than anything from neo-con approved sources in the MSM.
- The Dissidents, with cartoonist Derf Backderf (YouTube) — The Chris Hedges Report. Great interview with the graphic novelist whose new book is a history of the 1917–1919 Red Scare, an era with uncomfortable similarities to our own.
- Finding The Funk (YouTube) — Excellent 2013 documentary on funk music, one of my favorite eras.
My Work at The MMA Draw as Nate Wilcox
Sadly, my work covering combat sports continues to converge with my political work as Ari Emanuel’s TKO (which owns the UFC, WWE and a nascent attempt to monopolize boxing) is largely financed by the UAE and Saudis. They’re also using the GOP Congress to push legislation to allow them to monopolize boxing. I did get to feature some MMA History from Tony Loiseleur.
- Billion dollar war pains for Turki & Saudi sports investments — The MMA Draw with Zach Arnold
- Ted Cruz to move Ali Revival Act forward next week — The MMA Draw by Zach Arnold
- The Sons of Strong Style and the Birth of Japanese MMA — The MMA Draw by Tony Loiseleur
My Work at Let It Roll as Nate Wilcox
My inner music history nerd has been very extroverted this week. You’re welcome.
From the Beginning — We’re continuing to work through all 400 episodes re-presented in chronological order. This week our episodes bridged the gap from
- Pop Had An Entirely Different Meaning Before 1955 — Bob Stanley on his book Let’s Do It: The Birth of Pop Music, A History. The discussion goes from Stephen Foster in the 1840s to Peggy Lee in the 1950s.
- From Louis Armstrong to the White Stripes, ‘St James Infirmary’ Connects Folk Traditions to Jazz and Rock — Robert W. Harwood talks about his book I Went Down to St James Infirmary which traces the origins of that song (debunking all previous scholarship along the way) from its beginnings to its many famous 20th century versions.
- House of the Rising Sun Before Bob Dylan And After The Animals — Ted Anthony talks about Chasing the Rising Sun another bit of musical detective work, this one tracing “House of the Rising Sun” from its likely 19th Century origins in the Black community, its first recording by a white woman in Appalachia, its glory days in the folk era from Josh White to Bob Dylan, and its commercial apogee with the Animals, then on to some 21st Century interpretations.
Labor Day Songs & Stories — Yves Smith was kind enough to let me feature ten Labor Day/working class episodes of Let It Roll on Naked Capitalism. Here are the shows I featured:
- Countryroll 2: Roy Acuff, Bob Wills, Gene Autry and Woody Guthrie Lead Country Music Through Hard Times – with James Porter
- Alan Lomax, Pete Seeger, Josh White & Jean Ritchie and the first Folk Revival – with Dave Thompson
- The Weavers: Folk Music vs the Blacklist — with Jesse Jarnow
- CountryRoll 5: Charley Pride Integrates Nashville, Buck Owens & Merle Haggard Bring the Bakersfield Sound – with James Porter
- Chula Fronteras Documented Tejano Legends Like Lydia Mendoza, Narciso Martínez and Flaco Jiménez – with Justin Bankston
- The Kinks’ Class-Consciousness Made Them Wary of the Promises of Swinging London — with Mark Doyle,
- The MC5’s Combination of Hard Rock and Radical Politics Was Too Volatile to Last – with Justin Bankston
- Hip-Hop Is Born In The Bronx: We Dig Hip-Hop Evolution – with Alexei Auld and Eugene S. Robinson
- Johnny Paycheck: We Dig Mike Judge’s Tales From The Tour Bus – with Justin Bankston
- Hardcore Punk Ignored Corporate America — with Steven Blush
- Technoroll 12: Frankie Knuckles, Ron Hardy and the Birth of House Music in Chicago – with Ryan Harkness
Avant Garde Meets Rock:
Next week I’ll be dropping an essay on the influence of the Avant-Garde on 60’s rock so I put a bunch of episodes on Substack to prepare. Sadly I haven’t done episodes on Frank Zappa or Paul McCartney’s avant-garde influences yet.
- The Velvet Underground Brought the Avant-Garde to Rock and Presaged Punk — with Victor Bockris
- The Band That Broke Czechoslovakian Communism: Plastic People of the Universe — with Joe Yanosik
- Yoko Ono Brought Classical and Avant-Garde Techniques to Rock — with Madeline Bocaro
- The Grateful Dead Were the Pied Pipers of Psychedelics — with Jesse Jarnow
Support and follow my work at NatWilsonTurner.com.
bruce wilder
Jamie Galbraith’s essay, The Impotence of Being Kevin Warsh on how the tools and concepts guiding monetary policy may no longer fit an economy on the lee side of degenerating global hegemony and generating a massive, accelerating fiscal deficit makes me curious about the real and fantasized power of AI.
I know: a weird connection to make but hear me out. It raises a number of issues around how we should think about AI and what it can do for us. We are titillated about Navier-Stokes proofs — a Milennium Challenge, don’t ya know? — but what do we get if we unleash OpenAI on the controversies of monetary policy? Can an LLM “think” about the theories of money and finance?
I submit that human thinking about money and monetary policy doesn’t do much to confirm the hypothesis of human intelligence. Humans don’t do well sorting out the distinctions between the effect on prices (and the general “price level” however you may conceive it) of changes in the “quantity” of money on the one hand and productivity-enhancing technological progress.
(Here’s a hint: the quantity of money and credit has to keep pace with the volume or pace of transactions using money and credit to settle to maintain a “price level” but the concept of a “price level” is challenged conceptually by a proliferation of products and services as well as the claims of economic rent. Productivity-enhancing technological progress affects relative prices — falling product prices and rising factor prices; everything cannot go down at once.
Arguments among the cognoscenti are conducted in academic silos, lest a food fight featuring Olympic-calibre handwaving break out.
I am naively curious whether a “prompt engineer” could elicit greater understanding of how the U.S. rode “quantity easing” and “ample reserves” to record numbers of billionaires, while China came to totally dominate manufacturing and university research.
The thought experiment of imagining AI doing economic theory research raises issues interesting to me. Would an LLM just mimic the shibboleths of academia, repeating dubious, incoherent claims in an “authoritative” voice? Or, would an AI agent get to work to find and resolve inconsistencies and just generally “do some math” on logical relations and available statistics, such as they are? Could an AI agent resolve a controversy like it can allegedly prove a theorem?
Mark Level
My sincere thanks to Nat W.T. for the breadth and thoroughness of his reporting. Read most of the NC content, and it seems this is one of those weeks wherein “decades” occur.
Glad to see UAE and Saudis fighting one another, and the Pakistanis won’t betray the other Arabs. It seems a tide has turned. After a month outside the US, hard to summon up much interest but note the Trump Clowns have really screwed the Pooch 9 ways from Sunday, and USA is fvcked!! Had to happen, what a great accelerationist that group of circus clowns is. Laughter is the best medicine and they provide plenty.
Oh, and nobody outside US is buying “Lake America” nor will New Mexico soon become a “New America.” Trump went from being an incisive Insult Comedian who took down the Bush family himself in 2016 to an irrelevant, deranged old Queen who will be a joke to future Historians. Huzzah!!
upstater
Re. Stop Panicking About AI — Matt Stoller
What Stoller is oblivious to is that AI is expressly being designed as a weapon to wipe out actual populations of “our” enemies. Sure “rule of law” has become a joke… but that isn’t a bug to be corrected, it is an intentional design feature.
mago
The House of Saud is a crumbling structure with rotting corpses in the basement and skeletons in the closet.
Everything outs sooner or later.
Eclair
Nat, what a great list of readings and watchings and listenings. I now have a play list for a weekend of ‘putting up’ tomatoes, green beans, corn and pickled beets! Thank you!
Nat Wilson Turner
Hope you enjoy! Let me know what you think of any you especially like or loathe.
spud
the AI scammers are simply trying to scare and black mail americans, into bailing them out.
blues rock is the best, yardbirds, savoy brown. early fleetwood mac, cream, etc. types of music. besides regular rock, and classic rock.
terrapin station was the best grateful dead album.
50’s rockabilly, young love, a white sports coat and a pink carnation ballads were really good.
bo diddly, the father of hard rock.
mago
What spud said. The Brit’s popularized the blues with their renditions that resonated with a young white American audience, myself included. Add Jeff Beck to the list with his seminal Truth album featuring Rod the mod Stewart on vocals. That shit rocked.
Nat Wilson Turner
You might enjoy my episode on the Jeff Beck Group with biographer Dave Thompson — who wrote a book about the Truth album, not the band — Jeff Beck, Rod Stewart & Ron Wood Nearly Perfected Hard Rock Before Led Zeppelin Even Formed. It’s audio only, I haven’t put it on Substack yet.
The one that got away was my interview with John McLaughlin’s biographer. He’s the missing link from the UK blues scene to the US jazz fusion scene. He was originally the guitarist in the Graham Bond Organisation with Ginger Baker and Jack Bruce, spent several years in session hell with Jimmy Page & John Paul Jones (he only played rhythm, didn’t want to give away a single idea), before hooking up with Tony Williams and then Miles Davis.
I’ve got episodes on Jimmy Page, the 60’s London scene as a whole, Rod Stewart & the Faces, and tons more. Here’s the complete list of episodes
mago
Wow! Thanks for all of that NWT, I saw John McLaughlin with the Electric Light Orchestra live in Boston. Had front row seats. Ravi Shankar opened. Those were the days.
david lamy
I could rock out with spud and mago!
“Then Play On”, “Bare Trees”, and “Mystery to Me” are three Fleetwood Mac albums I still enjoy. While taking a sample for my latest lid purchase my dealer was usually playing those albums. (Oh the bittersweet memories of a misspent youth!)
Savoy Brown was a terrific band!
I will close with a shout out to Wishbone Ash …
spud
https://www.youtube.com/shorts/a9p9hgOeWhA
China creates its own credit; the West insists governments borrow from the rich, because bankers want a feudal choke point on the whole economy. Michael Hudson. Henry George School of Social Science. #economics #michaelhudson #shorts
spud
https://www.youtube.com/shorts/YJwSWNVaPpY
From Adam Smith to Marx, classical capitalism was revolutionary because it aimed to abolish the landlord, rentier and banking classes. Michael Hudson on what capitalism was meant to be. Henry George School of Social Science. #economics #michaelhudson #shorts
spud
david lamy:
in my youth, i got lucky to see fleetwood mac with peter green, oh well. green manalishi, rattle shake snake were something else! savoy brown with the lookin in, raw sienna line up. i’m leaving again was unbelievable live!
wish bone ash, awesome!!!
mago
Some considered Savoy Brown a B list band, but a younger version of myself wore out their albums. Leaving town . . .
And oh, yeah. Fleetwood Mac. Loved their music, but when I saw them live in Seattle Lindsay Graham was so coked out the show sucked.
Did I ever mention that I dated Phil Lesh’s ex for a while? Man, the stories. . .
Mark Level
Glad that since it’s Sunday nite where I am, and no Weekend Tony update yet I checked in on the music thread here, which I otherwise would’ve missed. I love nearly all the cuts y’all listed, starting with Nat and spud . . . I’ll out myself here, turning 67 next month.
Only stuff not listed that immediately comes to mind in the genre would be Flying Burrito Brothers, and the Allman Brothers for Southern hard rock. Also completely different genres, but from that era I love Gil Scot-Heron, The Revolution Will Not be Televised and other similar stuff, Grandma’s hands, etc. Black music not diluted by whites. Oh yeah, “You Just Keep on Using Me Until You Use Me Up.” “Makes Me Wanna Holla,” etc.
Nat Wilson Turner
@Mark Level
I’ve got an episode on Gram Parsons.
I’ve also got an episode on Gene Clark that might interest you, if you’re into former Byrds gone country.
Sadly I haven’t gotten to Gil Scott Heron yet. Although I’ve got a whole season on funk and quite a bit on early 70s disco and nascent hip hop.
I’m ashamed to say I haven’t covered southern rock much, (except ZZ Top) since it’s basically my native genre. But I plan to.
And Ed Legge, the music writer who co-hosted my 80’s Roll mini-series is literally the guy audibly yelling “Free Bird!” on the Lynyrd Skynyrd “One From the Road” double live album and saw them and the Allmans live many times. We will get to that!
mago
Rock on.
Love that Lynrd Skynrd and southern rock and roll in general.
The Allman Brothers live at the Fillmore.
Ah, days gone by.
We all know the revolution won’t be televised, but what about Arthur Lee and Love Forever Changes?
Yeah, I know. Never mind.
Nat Wilson Turner
@mago I’ve got Love covered.
marku
I saw the Allman Bros at play at a “battle of the bands” at my local high school (GHS, In Gainesville FLA). It was just before their first album came out, and they did it as a favor to my local music store, (Lipham’s) who had sold them most of their gear.
They were the first band up, and started out with “Whipping Post”. What is this, 2 drummers, 2 lead guitarists? Killer instrumental, and then this tiny white kid at the organ started singing….
Man, what a show.
different clue
@Upstater,
Is AI being developed to wipe out “our” enemies? Or is it being developed to wipe out almost all of us ourselves . . . in line with Operation Long Jackpot?
Just a thought . . . Y’all have a good day.
different clue
@spud,
I have heard Cory Doctorow present the AI-scare theory for extorting bailout from the public. Also, for getting a government-imposed slowdown to slow their rate of mutual cash-burn because they don’t trust eachother in a “voluntary mutual slow-down” arrangement
spud
different clue:
yea i kinda thought so. again, libertarian capitalists, looking for that socialist bail out. it was a scam from day one. as steven keen noted, when you free trade, you no longer invest in your people, your infrastructure, your technology, your manufacturing because, as bill clinton said, we can just buy it.
now that has come home to roost, and all that is left is, scams and paper manipulation.
different clue
@spud,
American politico-social culture sometimes seems like a steamy jungle where traditional ideologies ( bad enough) meet and mate and produce hideous hybrid offspring.
Like Liberfascistarianism, for example?
spud
its natural for so-called thinkers like ludwig Von Misses, frederick hayek, milton friedman to gravitate to fascism. the idiotologies are practically the same.
capital over sovereignty, capital over civil society, and capital over labor. see argentina, or any other crack pot government that comes into power.
https://thomashainsworth362.substack.com/p/the-libertarian-road-to-fascism
The Libertarian Road to Fascism
Thomas
Mar 03, 2025
The Political Spectrum and Libertarianism
The political spectrum is often discussed in simplistic terms—left vs. right, authoritarian vs. libertarian—but real-world politics rarely fit into such tidy categories. Right-wing libertarianism, also known as anarcho-capitalism, presents itself as a radical alternative to state control. Thinkers such as Ayn Rand, Friedrich Hayek, Ludwig von Mises, and Murray Rothbard have shaped this ideology, advocating for free markets, minimal government intervention, and absolute property rights.
The Mont Pelerin Society, formed in 1947, played a crucial role in promoting these ideas among policymakers and economists. Superficially, this ideology appears anti-authoritarian, championing individual freedom against state coercion. However, in practice, right-wing libertarianism has often led to extreme inequality, corporate dominance, and conditions ripe for authoritarian governance.
…
different clue
I once thought of a good book title. The Road To Serfdom Is Private. If someon wanted to write a semi-satirical book under that title, they could give themselves a satirical pen name like Friedpoor Nyuknyuk. Or some such thing.
I don’t know if a good book could be written for that title. But if it could, I have hearby given away the title.