ISIS is going broke

The Islamic State group is hemorrhaging money with every piece of territory it loses, according to a new analysis that found that the group’s “business model” is on the path to failure.

The analysis released Saturday by the International Centre for the Study of Radicalisation and Political Violence and the accounting firm EY found that the self-proclaimed caliphate’s financial resources have been drained substantially since the days beginning in mid-2014 when it captured banks, oil wells and entire warehouses of weapons as it amassed land.