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Rogan Links Iran War to Epstein Fallout

Joe Rogan, host of one of the world’s most popular podcasts, has accused President Donald Trump of initiating military action in Iran as a deliberate distraction from the recently released Epstein files. Rogan made the claim on the Wednesday episode of The Joe Rogan Experience, suggesting the timing of the conflict was no coincidence.

During the episode, Rogan and guest Arsenio Hall discussed the concept of misdirection in American politics. Rogan pointed to historical precedents, alleging that former President Bill Clinton bombed Yugoslavia in 1999 to divert attention from the Monica Lewinsky scandal. He then drew a parallel to the current situation, stating, “Look, the Epstein files come out — we go to war with Iran. It’s a good way to get people to stop talking about certain things.”

You can read more on the matter here.

What’s going on?

• Russia Offers 40% Discount on LNG to South Asia Amid Global Supply Crunch (theDeepDive)

• Netanyahu authorizes talks with Lebanon ‘as soon as possible’ as Israel’s attacks threaten Iran truce (Globe)

• Mexico’s President Sheinbaum Decrees Universal Healthcare for 120 Million (theDeepDive)

• OpenAI halts Stargate UK data centre project (FT)

• Trump Issues Ultimatum to NATO Over Military Support in Strait of Hormuz Conflict (theDeepDive)

• More than 84,000 Ontario houses — roughly the number in Markham — are owned by businesses and for-profits. (TS)

• Chile Busts $917 Million Copper Theft Ring Shipping to China (theDeepDive)

• Surging HOA Fees Are Pushing Homeowners to the Brink (WSJ)

• 40 Conservative MPs Fear Electoral Defeat Under Poilievre’s Leadership (theDeepDive)

What’s the latest?

• Inflation: Core PCE inflation was 3.0% YoY (headline 2.8%) with both rising 0.4% MoM, remaining above the Fed’s 2% target; consumer spending increased 0.5% while income fell 0.1%, and Q4 2025 GDP was revised down to 0.5% annualized (from 0.7%). Jobless claims rose to 219,000 (+16,000), and CPI is expected at 3.3% YoY with 0.9% MoM, signaling persistent inflation pressures even before the energy shock from the Iran war.

• Real Estate: Canada’s average asking rent fell to $2,008 in March (-5.3% YoY, -1.1% MoM), marking the 18th straight annual decline and lowest level in 35 months (-7.9% vs 2 years ago). Apartment rents dropped 3.9% (purpose-built) and 6.9% (condos), while houses/townhomes fell 9%, with major cities like Toronto (-4.7% to $2,468) and Vancouver (-4.3% to $2,702) declining. Vacancy rates are expected to exceed 3% in 2026, signaling a shift to a balanced market driven by increased supply, affordability pressures, and slower population growth.

• Markets: Oil rose to $102.17/barrel (+$7.76) as ceasefire concerns resurfaced, while Canada’s TSX fell 78 points to 33,542.57. U.S. markets were mixed, with the Dow down 66.69 points, while the S&P 500 (+3.29) and Nasdaq (+5.35) posted slight gains. The Canadian dollar strengthened to 72.34 US cents, and gold rose to $4,787.40 (+$10.20).

• Strait of Hormuz: The Strait of Hormuz remains restricted despite the ceasefire, with ~230 oil tankers waiting to exit and traffic still near minimal levels. The route typically carries ~20% of global oil supply, and UAE output stood at 3.4M barrels/day before the war. Ongoing restrictions are tightening supply and risking higher prices, as delays compound across energy markets and global economies.

• Layoffs: Disney is planning up to 1,000 layoffs, primarily in its marketing division, as part of a new cost-cutting phase under CEO Josh D’Amaro. This follows earlier restructuring that cut 7,000 jobs and targeted $5.5B in savings. The move comes amid ongoing efforts to streamline operations and improve profitability, with the stock slightly down on the news.

The Next Market Meltdown May Be Starting

The stock market and stuff

• Meta Doubles Down On CoreWeave AI Capacity With Fresh $21B Deal (theDeepDive)

• Barrick Wins Court Battle Over Tanzania Mine, Scales Back Pakistan Project on Security Concerns (theDeepDive)

• Canadian dollar hits two-week high as Middle East truce lifts sentiment (Reuters)

• Equinox Gold Produces 197,628 Ounces In Q1, Slashes Debt by $990 Million After Brazil Exit (theDeepDive)

• Oracle Names New CFO With $29.7 Million Package Amid Mass Layoffs and $50 Billion AI Buildout (theDeepDive)

In the juniors

• Orla Mining Discovers Additional High-Grade Zones at Musselwhite Two Kilometres Down Plunge (JMN)

• G Mining To Acquire G2 Goldfields For $3.0 Billion In All-Stock Deal (theDeepDive)

• Kobrea Exploration Provides Update on Drill Program at El Perdido Porphyry Copper-Gold-Molybdenum System - Mendoza Province, Argentina (JMN)

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