Stiglitz described the situation on the labor market as an important warning signal. In 2025 there was “virtually no job growth” in the USA. In addition, the latest data showed that “a significant number of jobs were lost” in February. This continues the trend of a stagnating economy. Stiglitz attributed the comparatively strong growth in recent years primarily to investments in artificial intelligence. However, this may be a “dangerous bubble” that no one can say when it will burst. If this happens, the US economy is at risk of stagflation.
US President Donald Trump has promised military help from “many countries” to ensure the safe passage of merchant ships through the Strait of Hormuz. “Many countries – particularly those affected by Iran’s attempted blockade of the Strait of Hormuz – will join the United States in sending warships to keep it open and safe,” the Republican wrote on his Truth Social platform. He added that “hopefully” China, France, Japan, South Korea, Britain and other countries affected by the restriction will send ships.
How concrete the whole thing is remained unclear. Trump promised that the Strait of Hormuz would soon be “OPEN, SAFE and FREE” again. He had previously told reporters that US warships would soon accompany tankers through the Strait of Hormuz. The US Navy escort will begin “soon”. Traffic through the strait, which is important for global oil exports, has almost come to a standstill during the Iran war. This drives up prices.
