Economist Podcasts The bog of war: week five begins
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Mar 30, 2026 
Gregg Carlstrom, The Economist’s Middle East correspondent, tracks Iran’s escalating conflict, the Houthis and why America could be pulled into a ground war. Annie Crabill, a senior digital editor, looks at how prosperity hardened America’s views on migrants. Alexandra Suich Bass, culture editor, explores why Project Hail Mary and big-hearted sci-fi are luring crowds back to cinemas.
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Why Houthi Shipping Attacks Matter More Than Missiles
- Houthi missile fire matters less than a return to Red Sea shipping attacks, which could sharply deepen the oil shock.
- Gregg Carlstrom says blocked Gulf exports already leave a 10m barrel daily shortfall; renewed Houthi tanker attacks could push it near 20m.
Why Iran Thinks Time Is Still On Its Side
- Tehran believes it currently holds the upper hand because it still strikes abroad while keeping most domestic economic damage limited.
- Iran still exports oil at higher wartime prices, though Israeli strikes on major industrial sites hint at vulnerabilities that could quickly worsen.
Iran Wants Guarantees More Than A Ceasefire
- Iran's real endgame is deterrence, not just a ceasefire; it wants assurance America and Israel will not strike again.
- Its public demands include reparations, base closures, and Strait fees, but Gregg Carlstrom says a narrower sanctions-for-shipping deal was imaginable.