Mr Herbert Hoover (1932): Now is the time to buy

 Just around the corner,
there's a rainbow in the sky,
So let's have another cup of coffee,
and let's have another piece of pie.

Gaza now

 https://x.com/i/status/1985243190937444826

This is an explosion of a main tunnel in Gaza. See the smoke emerging from ten or more outlets at the same time. 

Tehran water outlook

 

Tehran's 10 million inhabitants consume 3 MCM (million cubic meters) of water a day, and the reserves in the main dams contain 14 MCM. The probabilities of rain in November are nil.

Tehran loses nearly a third of its water through broken pipes. So much water has been pumped from aquifers that parts of Tehran are sinking by more than 10 inches per year. The Ministry of Energy is drilling 250 deep wells to extract groundwater beneath Tehran, but this water may be contaminated by wastewater (Dr Elisha Kaly taught me that there is no drinking water under cities).. 

Water access in Tehran is unequal; wealthier northern districts have better infrastructure and a more consistent supply, while southern districts experience frequent water rationing. The situation cannot be solved by rationing; instead, a plan is in place to evacuate approximately one-third of Tehran's population.  This is genuinely alarming for a capital city and virtually without precedent.

A political change will not improve the outlook. Claude estimates that desperation will not motivate them to start a war. Iran's current president Pezeshkian has publicly acknowledged the crisis, even offering 100 million tomans (about $1 million) to anyone who could solve it. Honi HaMeagel may have some ideas.

Pic.: Amir Kabir Dam. See the regular water level mark.

Macabre Casus belli

 
Israel is demanding the return of all the hostages, and at this point, the issue is a couple of bodies that the enemy, after two years of destruction, is unable to localize. Our war chiefs are quoted as threatening to restart the war. Why are decomposed cadavers so important for the Jews?

I am reading about Cecil Roth's History of the Jews in Venice. The University of Padua claimed bodies for its lessons of anatomy, and the Jewish community paid for being excluded. Sometimes, cemeteries were robbed or bodies were snatched during funerals. 

I never understood the cult of the dead. The champions were the Ancient Egyptians, who erected mountains of stone blocks to store embalmed bodies and their cats. We may have caught this משוגאַס from them, or the Ancient Greeks, whose battles never ended till they recovered their fallen companions. But no, every human society always treated its dead with ceremony, hoping vaguely for resurrection here or in Hades.  Or revenge if they were mistreated. 

Israel normalizing

 
Fitch has upgraded the rating of Israeli banks to STABLE. The outlook revision reflects improved conditions as economic activity has largely normalized, creating growth opportunities for Israeli banks while limiting asset quality pressures.

TASE's Finance Index changed colour to green. 

Ill.: Smotrich, the minister of economy. 

Bessent made money betting on the Argentine peso

Incredible. The American Secretary of the Treasury (a former Wall Street speculator) bought Argentine pesos before the elections, and now that Milei won,  their value has risen! making lots of money for the American Treasure. Scott Bessent is the only speculator to have ever profited from betting on the Argentine peso. Pic.: Scott Bessent.

Post Scriptum: All the Journalists (pic) are using iPhones instead of heavy cameras and microphones. I, too, moved to phones and have three or four unused cameras stored. I also have two new computers not yet installed. 

France's lost creditworthiness

Moody's changed France's rating to negative. That means that France will have to pay a higher interest rate for borrowing money. 

Fitch also downgraded France, and its bonds will have to pay more to remain attractive.  

Not good. France has always been and remains the center of Europe, yet it is sinking. I am reading about Engerrand de Coucy in the 14th Century.