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Odd Lots: Tungsten Market Is Warning of Upcoming War (Podcast)

Bloomberg Markets
Monday, August 3, 2026 at 8:00 AM
~4 min read

Original Report

Bloomberg Opinion columnist David Fickling tells us you can think of tungsten mining as “a century old prediction market for war.” As he writes in a recent piece, tungsten is “a super-element that...

Bloomberg Opinion columnist David Fickling tells us you can think of tungsten mining as “a century old prediction market for war.” As he writes in a recent piece, tungsten is “a super-element that can determine the fate of nations.” While the commercial market for tungsten is fairly small, it can be crucial in war manufacturing, due to its high density and melting point. He learned more about tungsten mining and its increasing geopolitical necessity, during a visit to Australia’s Dolphin Mine, w

Glass House Analysis

This story reflects the interconnected nature of modern economic systems, where developments in one sector inevitably affect others. Understanding these connections is essential for grasping how policy decisions and market movements translate into real-world outcomes for families, workers, and communities. The economy is not an abstract system of numbers—it's the sum total of decisions about who works, who prospers, and who struggles.

The implications extend beyond the immediate news cycle. Every economic development creates ripples that affect employment, prices, and opportunities in ways that may not be immediately visible but are deeply felt. By tracking these connections, we can better understand how the economy truly works—not as an abstract machine, but as a human system shaped by and shaping the lives of millions.

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