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Professor Pape has been the seer of this war.
The military conflict between the United States and Iran has entered a new and more dangerous phase.
Commercial shipping through the Strait of Hormuz continues to deteriorate. Insurance costs are climbing. Cruise missile attacks have expanded beyond drones. Washington has now openly committed itself to restoring freedom of navigation, while Tehran has demonstrated that it is prepared to contest U.S. naval control directly.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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