Ian Welsh

The horizon is not so far as we can see, but as far as we can imagine

Tag: 2

The Great Thing About Britain’s Labour Party Is… Nothing

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On June 22, 2026

21 Comments

So, a possible replacement for the execrable Starmer:

Same old, same old. Saw someone mention that the Polish pension is being reduced to age 60, while the British one will start at 69. So I did a bit of research, and in purchasing parity terms the Polish one is larger. British waterways are full of sewage, because they privatized the water companies, which refuse to treat water properly or maintain the plants they bought from the government, but they are paying massive dividends, and that’s what matters. The NHS is in tatters, as it’s the last thing left for the British government to privatize.

And, of course, the UK has been all in on genocide, not just selling the Israelis weapons, but sending ships and planes to actively defend Israel.

Here’s the latest tracking poll:

Well, isn’t that special. This is far worse than I thought, because Labour is still . And that means Britain is extra special doomed. As I have predicted since about 2020, Britain will be the first western nation to fully un-develop. Reform will win the next election. Since they’re conservative idiots they won’t fix anything. Immigrants will get it in the neck, and yes, Britain has brought in too many, but that’s a symptom, not a cause.

So things won’t improve, then Labour will probably get back in and fuck things up some more. Or perhaps the Conservatives.

I had hoped that the Greens would get into second place and the Labour/Conservative duopoly would be broken. Maybe that will still happen, we’ve got a ways to go and I have great confidence in Labour’s ability to run Britain further into the dirt.

But the likely best case is Reform gets four years, then the Greens get in. At that point we’re into the 2030s, and there isn’t much left of the British economy to work with: you’ve got the City (finance) and not much else. Every month I read about some British industrial company being bought out by foreigners, and then they start moving the jobs out.

More likely is that the Greens (or whoever the left wing alternative is) don’t get into power until the mid 2030s. And maybe the Brits will elect Reform, Labour, Reform. They’ve been electing the wrong person and party reliably since 1979 after all.

There’s a lot of ruin in a nation, but it’s not actually infinite, and the Brits have been ruining their nation since 1914 (arguably since 1890.)

All British elites now are is agents for the rich who are looting the remains of what British of past generations built. And there’s almost nothing left to loot.

 

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Text of the Iran/US MOU

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On June 18, 2026

19 Comments

From Dropsite:

Paragraph 1: (end military ops including in Lebanon: this is the one that may blow it up.)

The United States of America and the Islamic Republic of Iran and their allies in the current war by signing this M.O.U. declare the immediate and permanent termination of military operations on all fronts, including in Lebanon, and undertake from now on not to initiate any war or any military operation against each other, and to refrain [from] the threat or use of force against each other and ensuring the territorial integrity and sovereignty of Lebanon. The final deal will confirm the permanent termination of the war on all fronts, including in Lebanon and other provisions of this paragraph.

Paragraph 2:

The United States of America and the Islamic Republic of Iran undertake to respect each other’s sovereignty and territorial integrity, and to refrain from interfering in each other’s internal affairs.

Paragraph 3: (This ain’t final, more to negotiate.)

The United States of America and the Islamic Republic of Iran commit to negotiating and achieving the final deal in maximum 60 days extendable with mutual consent.

Paragraph 4: (Immediate end of US blockade, Iran has 30 days. US to remove forces.)

Immediately upon the signing of this M.O.U., the United States of America will begin the removal of its naval blockade and any disturbances or impediments against the Islamic Republic of Iran, and will fully end the naval blockade within 30 days. During this period, the traffic of vessels will be in proportion to the numbers of prewar traffic being restored by the Islamic Republic of Iran. The United States of America further undertakes to remove its forces from the proximity of the Islamic Republic of Iran within 30 days after the final deal.

Paragraph 5: (no charge for passage thru the strait. At least for 60 days, I suspect Iran/Oman will try and have charges after that.)

Upon the signing of this M.O.U., the Islamic Republic of Iran will make arrangements using its best efforts for the safe passage of commercial vessels with no charge for 60 days only from the Persian Gulf to the Sea of Oman, and vice versa. The traffic of commercial vessels will immediately start, and considering the need for removing the technical and military obstacles and demining by the Islamic Republic of Iran, will be instated within 30 days. The Islamic Republic of Iran will conduct dialogue with the Sultanate of Oman to define the future administration and maritime services in the Strait of Hormuz, in discussion with other Persian Gulf littoral states in line with the applicable international law and the sovereign rights of coastal states of the Strait of Hormuz.

Paragraph 6: (US pays 300 billion in restitution. This is why Iran agreed to no fees for passage, at least for now.)

The United States of America undertakes with regional partners to develop a definitive, mutually agreed plan with at least U.S.D. 300 billion for the reconstruction and economic development of the Islamic Republic of Iran. The mechanism for the implementation of this plan will be finalized as part of a final deal within 60 days. All required licenses, waivers and permissions needed for the relevant financial transactions will be granted by the United States of America.

Paragraph 7: (End of sanctions.)

The United States of America undertakes to terminate all types of sanctions against the Islamic Republic of Iran, including the United Nations Security Council resolutions, I.A.E.A. Board of Governors resolutions, and all unilateral U.S. sanctions, primary and secondary, in an agreed-upon schedule as part of the final deal. The Islamic Republic of Iran and the United States of America acknowledge the critical importance of the sanctions termination issue above mentioned, and express their intentions to immediately address these issues in the negotiations in order to achieve mutual agreement on them.

Paragraph 8: (No nukes for Iran. Downblending in Iran under IAEA supervision.)

The Islamic Republic of Iran reaffirms that it shall not procure or develop nuclear weapons. The United States of America and the Islamic Republic of Iran have agreed to resolve the disposition of stockpiled, enriched material pursuant to a mechanism that will be mutually agreed upon in accordance with the schedule mentioned in Paragraph 7, with the minimum methodology to be down-blending on site under the supervision of the I.A.E.A. The two parties also agreed to discuss the issue of enrichment and other mutually agreed matters related to the Islamic Republic of Iran’s nuclear needs, based on the statutory framework being agreed upon in the final deal. The final deal will confirm the provisions of this paragraph. The United States of America and the Islamic Republic of Iran acknowledge the critical importance of the nuclear issues above mentioned, and express their intention to immediately address these issues in the negotiation in order to achieve mutual agreement on them.

Paragraph 9: (No new sanctions, no new nuclear program.)

Pending the final deal, the United States of America and the Islamic Republic of Iran agree to maintain the status quo. The Islamic Republic of Iran will maintain the current status quo of its nuclear program, and the United States of America will not impose any new sanctions, and will not deploy additional forces in the region.

Paragraph 10: (Again, end of sanctions: this time for oil products.)

The United States of America undertakes that immediately upon the signing of this M.O.U., and until the termination of sanctions, U.S. Department of Treasury will issue waivers for the export of Iranian crude oil, petroleum products and derivatives, and all associated services, including banking transactions, insurances, transportation, etc.

Paragraph 11: (Release of all frozen funds.)

The United States of America undertakes to make fully available for use the frozen or restricted funds and assets of the Islamic Republic of Iran upon the implementation of this M.O.U. The United States of America and the Islamic Republic of Iran will mutually agree on the procedures related to the release of these funds during the negotiations. Such funds, whether retained in the original account or transferred, shall be made fully usable for payment to any ultimate beneficiary designated by the Central Bank of the Islamic Republic of Iran. The United States of America undertakes to issue all necessary licenses and authorizations accordingly.

Paragraph 12:

The United States of America and Islamic Republic of Iran agree that an executive mechanism will be established to monitor the successful implementation of this M.O.U. and the future compliance of the final deal.

Paragraph 13: (Negotiation not over yet.)

After signing this M.O.U. and subject to the beginning of the implementation of Paragraphs 1, 4, 5, 10 and 11 of this M.O.U., and the continuing implementation of these measures, the United States of America and the Islamic Republic of Iran will start negotiations regarding the final deal exclusively on the other paragraphs.

Paragraph 14:

The final deal will be endorsed by a binding U.N.S.C. resolution.

Commentary:

This is a decisive victory for Iran and a loss for Israel and America, though I’d argue that the US ending sanctions and military efforts in the Middle East is good for America. Still, there’s no question that this is the sort of deal that gets signed when one side (Iran) won and the other side (Israel and the US) lost.

I mean — 300 billion in reparations. The US end their blockade first. The US says it’ll get move forces out of the region. The US ends pretty much all sanctions and gives Iran back their money.

Massive win for Iran. Iran is now a great power in the region, and no one can deny it.

The obvious problem here is Israel. If Iran is serious about an end to violence in Lebanon, then this will wind up as a dead letter unless the US tightens Israel’s leash (which it can do, Israel is entirely dependent on US aid). Alternative the US could simply shrug, and make the deal only between them and Iran, and say “if Israel wants to keep fighting, it’s on its own.)

The question here is the power of the domestic lobby, and whether or not Israel has enough blackmail on Trump. (Signing this deal at all makes it look like the answer to , which I thought was “absolutely” may well be “nope, not enough.” We’ll see.)

The US is no longer a superpower. The world no longer has any superpowers. It’s still a great power with worldwide reach, but the days where it was the world’s “super cop” are over. It can still push around weak nations, but not strong regional powers. Took a little less than 30 years from the fall of the USSR for American elites to screw up a completely dominant position.

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Israel, Nukes and Armageddon For Real

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On March 20, 2026

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~by Sean Paul Kelley

I planned on writing a post about how the Russians were the ultimate winners of the Iran War, what with all that petroleum and natural gas they have. Truly, the Russian’s have got God by the balls (Как бога Đ·Đ° яйца поймал).Windfall after windfall is accreting in an economy that is supposed to be in the doldrums. The reverse is true: Trump’s witless pursuit of war against Iran is effecting the collapse of the entire global economic order, except those nations trading with, well, you guessed it: Russia. I can’t fathom right now. How does one convey the stupendous amount of boomerangishness happening? It’s like karma grew a pair of balls and teabagged the entire Western order.

That said, I failed to write the post. Instead I got profoundly distracted by Col. Larry Wilkerson’s disturbing prediction that Israel will more than likely use up to 15 nukes on Iran to settle the conflict. Watch the video yourself. It’s a mercifully brief 7:03 minutes of terror. It’s the stuff of nightmares. I ain’t kidding. I’m dumbfounded. Dismayed because he makes a plausible case for Israel’s use of nukes.

If Israel opts for nukes the entire calculus of war changes. Nukes virtually guarantee the inclusion of other great powers in the war. I’ve taken to joking lately that we’re watching Armageddon. I didn’t mean literally, but now? I’m really at a lack for words.

We’re all going to die.

Afterthought : Before we all perish in flames, some more shitty news: sales of newly built houses fell a full 17.6% nationwide. In the Northeast it was a rout: down 44%. Adding insult to injury, McDonald’s, Pepsi and Dollar Tree are all racing to the bottom by reducing prices. Not goody, vewwy baddy.

Afterthought : The spread between home-sellers and home-buyers in San Antonio, my town, has widened to an astonishing 114%. That’s absolute brutality to home-builders. So, the end of this credit cycle is going to include the following macro events: housing crash, credit crisis, energy shock and at least one Too Big To Fail will fail, just as Lehman Bros and AIG did in 2008. Oh, and the AI bubble will unravel. Wow, that’s almost a perfect storm.

Reducing Suffering

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On June 27, 2025

11 Comments

As a Canadian, the issue of people removing snow from the sidewalk is a big deal. Some years ago, I lived near a house where they never removed the snow. It piled up until it was almost four feet high, and some partial thaws meant that underneath all that snow was ice. Every time I had to walk in that direction I cursed the owners (there was an SUV that came and went, so I knew it wasn’t uninhabited). One time, I did slip, and I was furious, even though the pain of the fall was minor.

Thing is, I don’t enjoy being furious or upset. Oh, a little anger is sometimes nice enough, but overall it’s an unpleasant feeling unless you’ve been having even worse emotions like fear, despair, powerlessness, or self-pity.

This is what Buddha called the second arrow. If you’ve been shot by an arrow, you’re in pain. If you’re upset that you’ve been shot by an arrow, you’re adding additional suffering.

Let’s run through three scenarios. Imagine each of them briefly, as if they happened to you:

1) You turn a corner and trip over a fallen branch, falling. You’re a little hurt (abraded hands), but basically okay. How upset are you?

2) You slip on some ice someone was supposed to clean up and fall. You’re a little hurt, but basically okay. How upset are you?

3) You’re walking down the street, and someone sticks out their leg and trips you, then laughs at you. You fall, but catch yourself. While a little hurt, you’re basically okay. How upset are you?

If you’re a normal person either (negligence) or (active malevolence) upsets you more. Probably, it’s the asshole who tripped you. (You might also get upset at the branch and kick it, swear at it, or enjoy breaking it, but hopefully not.)

The point here is that being upset makes your suffering worse. It also doesn’t deal with whatever caused the problem. Picking up the branch you tripped over, getting the city to fine the person not shoveling their snow, and either calling the cops or in times and places where it’s allowed, beating the hell out of the guy who tripped you might make sure there are no repeats.

You can do any of those things without being upset, through cold, clear calculation. If you don’t remove the branch, you or someone else could trip over it again. If you don’t convince the homeowner to shovel the snow, same thing. If you don’t make the tripper decide tripping people is a bad idea, he’ll do it again.

Much of why we get upset is that we have expectations about how other people should behave or even how the world should be. (How dare that branch trip you up!) Then, we think that if someone hurts us, we should get upset.

But, again, being upset doesn’t hurt the other person (though a display of anger might make a difference if you can make them scared of you) and doesn’t get them to change their behaviour. Indeed, in the case of the tripper, they want you to be upset. Your anger is part of their reward, just like how online trolls are trying to make you angry.

Being upset does hurt you, though. It makes your suffering worse.

But if you believe you should be upset, you will be.

So the first step is to ask yourself: What benefit there is to being upset? Do this all the time when something makes you upset, just ask yourself, “Does this help? Do I like feeling this?” Maybe you do (usually in the case of anger), but most of the time, the honest answer is gong to be no.

Over time, if you keep doing this, you’ll be upset less and less. You’ll change the reflex.

We add suffering to almost everything. If you get a bad headache and are upset because it “isn’t fair,” that adds suffering to the headache. If you get upset at yourself for doing something stupid, that adds suffering. I used to be like that; I stopped when I realized that, after decades of being harsh with myself, my behaviour hadn’t changed. In other words, being upset when I made a mistake wasn’t reducing the number of mistakes, it was just making me unhappy. (When I did stop being too self-critical, mistakes decreased somewhat, ironically.)

Buddha’s Second Arrow is the low-lying fruit, the easiest way to reduce your suffering — suffering which doesn’t help you deal with whatever issues you face. When you’re cool and calm, you’re more likely to fix whatever the problem is — if it can be fixed — faster and more competently than you are upset.

Pull out the second arrow.

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The Middle East Is Hastening Ukraine’s Fall & The End of the European Era

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On June 25, 2025

23 Comments

The Course of Empire by Thomas Cole

The Course of Empire by Thomas Cole

Rarely spoken of is the effects of the Middle Eastern wars on Ukraine. For a long time, Ukraine got everything it wanted, but since Oct 7th, it has been , or worse, on America’s priority list. Mossad has a great deal of influence in America, just short of control, almost certainly due to a sickening collection of videos and pictures, and Israel has received the first cut off everything it needed: most especially of interceptor missiles.

Even so, the reason that Israel and the US called for a ceasefire and Iran did not (though it accepted one) is that Israel was less than a week from running out of air defense missiles, and as best I can tell, the US could only have supplied about another 7-10 days worth.

What this means for Ukraine is simple enough, they’re being absolutely hammered by Russian missiles and bombs. They don’t have enough air defense, they don’t have enough missiles for the air defense, and there is no reasonable prospect of re-stocking. The West’s larder is empty.

The tempo of Russia advances continues to increase. It’s still slow, but it’s at least eight times as fast as it was a year ago, and as Ukraine runs out of men, weapons and ammunition (Western shortages go far beyond air defense), plus as morale continues to plummet in Ukrainian armed forces, the prospect of “big arrow” warfare grows closer.

As I’ve said before I expect that period will arrive next year. The fighting age male population is decimated, those willing to fight are or will be mostly dead, and Russia will win the war decisively, taking whatever they want to. The only danger of this not happening is Putin accepting a peace offer before that: like Khameini, he is very cautious, doesn’t like war and wants it over. If Zelensky ever gets his head on straight, or is replaced, he’s likely to accept a peace deal much short of what can be accomplished by arms and an unconditional surrender.

This will be a HUGE loss for the West. The first war they have decisively lost on the battlefield in generations. There will be no concealing it, and the inability to ramp up production of weapon systems and munitions will leave the collective West so weak that no one will be able to believe they could win a conventional war against China, or even Russia.

It will, psychologically, be the end of Western hegemony. For almost 400 years the West has been dominant, and since Industrial Revolution, overwhelmingly dominant.

That era is almost over. The economic aftershocks will be huge: the end of American dollar hegemony is likely within five years, ten at the most and the entire world except, perhaps, Canada, the US and Europe, will re-orient to China. The US will even lose South Korea and Japan as reliable allies, indeed, it arguably already has (more on that another time.)

This is a literal epochal period. The “nothing ever happens” fools are missing that this is the end of a literal era: the era of European supremacy (the US is just a European settler state and Britain’s successor.)

The new era will be multipolar only if China wants it to be. They are approaching “America after WWII” levels of industrial and technological power. However, for at time, they will probably allow a multipolar world, as they are smart enough not to want to be a superpower or “world cop.”

Normally this would cycle to a superpower period, but environmental issues are likely to short-circuit normal macro-geopolitical cycles. Everyone will wind up in survival mode, and the question will be who manages this best. Whoever does will lead the next cycle, which will occur long after most or all of us are dead.

So, as best you can, you may as well be interested. You are living in truly interesting times, which come around only every half millenia or so.

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It’s The Economy, Stupid (AKA Economists)

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On November 6, 2024

24 Comments

Over ninety-nine percent of economists did not predict the 2008 financial crisis.

The vast majority of economists were pro-globalization, by which I mean pro offshoring and outsourcing. They said it would be good for America, they were wrong.

China is predicted to wind up with over 50% of the world’s industry by 2030. Forget all the bullshit about great power competition. It’s over. There may be a war, but if there is one the West will either lose or the world will be destroyed in a nuclear exchange.

Back in the 90s an economist called Brockway liked to say “Economists are bad for your health.”

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Let’s bring this back to the election. I thought that abortion would be the election defining issue. Stupid of me, though abortion was and only four percent behind inflation. It was inflation, which given how much I write about it, I should have expected. Two tables from the CNN exit polls:

Abortion was the second most important issue. Inflation was , and people who voted for pro-abortion measures voted about 9% less for Harris.

Economists meanwhile keep talking about the : the idea that there is no recession, people just think there is.

Economists, as usual, are full of shit. They have a professional dependence on official statistics and refuse to realize that many of them don’t reflect reality. As I have written in the past, according to official inflation statistics the price of cards did not rise between 2000 and 2020. In another case, you will be happy to know that medical service costs are going down. Hedonic adjustments are completely out of control: prices are dropping, you see, because products are so much better now. (There are other finangles, this is the main one.)

Growth numbers are based entirely on nominal growth minus the inflation rate, as are real wage numbers.

I would bet that the US economy has been contracting since 2008, but since inflation is understated, it isn’t visible.

I would also bet that median welfare for Americans has been declining since somewhere between 1968 and 1979, though average might have been increasing till 2008 because of how much money was being shoveled to the rich and wealthy.

We live in a pretend world, and economists are the chief pretenders, the sycophants telling the Emperor how wonderful his new clothes are.

To riff on Galbraith, economists exist to make astrologers look good.

Economics, as a discipline, should be wiped from the face of the Earth. The less than 1% of economists who aren’t charlatans or fools are not enough to justify the harm economists do, which exceeds even that of MBAs.

Harris lost because of the insistence of Democrats that the economy was good, inflation was fine, and that voters were too stupid to read their own grocery bills. Because of this belief Harris said she wouldn’t have done anything different than Biden did. What she needed to do was get out there and say she was going to drive down prices, especially rent and groceries.

As for Trump, we’ll talk more about the effects of his economic plans, if instituted, later.

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