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The Latest Breaking News from Adam Smith

‘Closing the chapter’ on Fema: Trump panel seeks to weaken disaster response amid climate crisis

Council’s plan will leave Federal Emergency Management Agency ill-equipped to respond to extreme weather events, experts say

The Guardian - US

US intelligence memo says Trump’s extended Iran war has done little to slow the nuclear capabilities in the country

Ensuring that Iran cannot build a nuclear weapon was one of the key objectives laid out by Trump and Defense Secretary Pete Hegseth at the beginning of the war

The Independent UK

‘You’re missing the point’: According to Trump’s Department of War, just the possibility of thought is justification enough for an entire war

The point is, there is no justifiable reason for any of this.

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The moments when Hegseth lost his nerve during Congress questions on the Iran war

The war has cost $25 billion so far, according to Pentagon numbers presented to the House Armed Services Committee during the contentious hearing

The Independent UK

US lawmakers clash with Hegseth on Iran war and $25 billion price tag

The war has cost $25 billion so far (€21 billion), according to Pentagon figures presented to the House Armed Services Committee.

Euronews

Pete Hegseth Questioned Why Minesweepers Were Sent to Singapore Weeks Before Iran War

The Pentagon is under scrutiny for positioning US Navy mine-clearing ships far from the Strait of Hormuz before conflict with Iran, raising questions about strategic preparedness.

International Business Times UK

Pentagon Says Iran War Has Cost $25 Billion So Far, Most In Munitions

The Iran war has so far cost $25 billion, a top Defense official said on Wednesday.

International Business Times

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Pete Hegseth lost his cool in front of Congress. It was a dramatic unraveling

ANALYSIS: Hegseth has his favorite soundbites — but none of them landed here, where he sounded increasingly deluded and desperate, writes Holly Baxter

The Independent UK

'Handing Propaganda to Our Enemies? Shame on You': Hegseth Claps Back At Rep Garamendi for Calling His Strategy a 'Quagmire'

Secretary of War Pete Hegseth defends a record Pentagon budget amid criticism over the US-Iran conflict, sparking a heated debate with lawmakers questioning the military's strategy and spending.

International Business Times UK

Hegseth denies Iran war is ‘quagmire’ as cost to US hits estimated $25bn

As defense secretary testifies before House, Trump posts AI-generated image of himself with weapon and caption: ‘NO MORE MR. NICE GUY’

The Guardian - US

Iran-US war latest: Trump confirms rescue of second American airman from downed fighter jet in Iran

Race to find second crew member had been going on since the F-15 was shot down on Friday

The Independent UK

Leavitt: Trump wants Congress to come back early, end DHS shutdown

President Donald Trump wants Congress to nix a two-week recess and return to the Capitol to address the ongoing Department of Homeland Security shutdown, his top spokesperson said Monday. “The president is also encouraging Congress to come back to Washington to permanently fix this problem and to fund and reopen…

Roll Call

Rewritten air safety legislation moves out of House committees

Two House committees voted unanimously on Thursday to approve a new version of aviation safety legislation intended to respond to the January 2025 fatal midair collision between a commercial airliner and a military helicopter near Ronald Reagan Washington National Airport. The House Transportation and Infrastructure Committee voted 62-0 in favor…

Roll Call

Was Adam Smith’s ‘invisible hand’ on right or left?

Letters: Readers respond to an editorial about rescuing the economist from being invoked by rightwing free-marketeers

The Guardian - UK

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The Guardian - US

Israel claims brother of Michigan synagogue attacker was Hezbollah commander

Israeli military also says on social media brother of Ayman Mohamad Ghazali was ‘eliminated in airstrike last week’

Roll Call

Armed Services members in the dark on details of war costs

The House and Senate Armed Services panels have yet to be briefed on the costs of the Iran war, members and aides said Thursday. This week, Pentagon officials gave the Senate Defense Appropriations Subcommittee an estimate of $11.3 billion for the war’s first week, a figure first reported Wednesday by…

The Guardian - UK

The Guardian view on Adam Smith: he deserves rescuing from the free-market myth

Editorial: On the 250th anniversary of The Wealth of Nations, the Scottish philospher is still invoked by the right. Yet he worried about inequality, monopoly and the power of wealth

Reason

250 Years Later, The Wealth of Nations Still Has Lessons To Offer the Political Class

Governments have yet to accept that free societies are also prosperous societies.

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Fortune

Economist Dambisa Moyo says CEOs must play a role in sustaining a consumer class as AI eliminates jobs

Also: All the news and watercooler chat from Fortune.

Roll Call

Iran war powers resolution defeated in House

The House on Thursday rejected a war powers resolution that sought to curb ongoing U.S. military operations in Iran.

The Conversation

Why does this river slice straight through a mountain range? After 150 years, scientists finally know

The western US is a geologists’ dream, home to the Rocky Mountains, the Grand Canyon, active volcanoes and striking sandstone arches. But one landform simply doesn’t make sense.

LiveScience

The Colorado River's largest tributary flows 'uphill' for over 100 miles — and geologists may finally have an explanation for it

Millions of years ago, the Green River carved a path through the Uinta Mountains instead of flowing around the formation. Now, researchers have discovered how this could have happened.

The Independent UK

Paralyzing winter storms put a big chill on US economy, but how much?

Experts say the massive winter storm hitting the American East is taking a multi-billion dollar toll on the U.S. economy

The Guardian - UK

Bournemouth 3-2 Liverpool: Premier League – as it happened

Amine Adli struck a last-gasp winner for Bournemouth as Liverpool’s comeback ultimately ended in vain

We Got This Covered

For 37 years, Missouri mother tells son to never open box in freezer. But he breaks the promise only to question his entire life

The one time the phrase "listen to your parents" sounds reasonable.

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