I can't think of a single way in which the United States came out ahead in the war. We have
* Demonstrated that the US simply can't offer any meaningful security guarantee to it's middle east partners.
* Permanently ceded de facto control over the straits of Hormuz to Iran
* Significantly strengthened the hardliners in the Iranian regime and cleared the way for them to have absolute power by eliminating all moderates
* Spiked inflation at home and doubled down on pissing off pretty much every single country except Russia by heaping sky rocketing energy costs on them
* Exposed the perilous state of of the defense industrial base (in spite of us spending more than the next 10 countries combined). We simply can't produce enough military hardware to sustain a sustained conflict with a country like Iran. I shudder to think just how badly we will be outmatched in a shooting war with China.
All of this to get to a point where we are negotiating a deal which is worse than what we already had with the JCPOA.
I think we will look back on this as the US version of the Suez crisis, the beginning of the end of the US empire.
The US oil industry is making massive amount of money directly from the people of the US on the inflated prices, since their domestic supply and refineries are unaffected. It also perfectly matches the actions a foreign country trying to harm the US would take. There's so many terrible options to choose from!
The west coast doesn’t actually have pipelines to receive oil from the mountain/Midwest regions, and Alaska has been declining for a while now. So California mostly gets oil from Brazil (not affected) and Iraq (affected).
There are much easier ways of increasing the oil prices that don't have as much drawbacks as trump's war. Of course, for _some_ reason most people and countries prefer _lowering_ oil prices.
You add a surcharge on carbon emissions, they raise the prices of carbon-intensive activities, which get passed onto end consumers. Companies which reduce their carbon footprint would be able to sell products/services for less money and where many people would choose because it's cheaper.
The key: the money collected is returned to consumers (why it's labelled "dividend") on an average basis. So if you use less carbon than average your refund will be more than your surcharge outlay and you'll come out ahead. If you use more than average, then it's more money out of pocket.
Sadly when Canada tried this under the Trudeau Liberals the Conservatives—which tend to be (federally) concentrated in the O&G-dominant western provinces—attacked it as a "tax" (regardless that the money was refunded), even though it's probably the most market efficient mechanism—which Conservatives even testified to: "Scott Moe says Saskatchewan considered carbon tax alternatives, but found them too costly":
Renewables being a good thing is not an "extreme left" viewpoint, it's just reality. That being said, I'm going to guess that extreme left supports renewables near 100%.
None of the Trump administrations actions look objectively different than what a foreign adversary would do to destroy the United States of America. It's staring us all in the face every day. My children will pay for this their entire fucking lives.
The saving grace is that China (well modern living CCP members) have never had an armed conflict. China's military ranks are people who got there by playing politics and bending exercises to their benefit rather than showing battlefield competence. There are no war vets or experienced players.
So while they might have incredible man power and manufacturing capability, everyone in that first battle will be seeing battle for the first time in their life.
China is even worse than Russia on that matter. Before the invasion to Ukraine, Russia was heavily involved in Syria, Chechnia and other conflicts and with that experience it failed miserably.
China, with all its posturing, military wise is even worse than Russia. That's why all it can do is propaganda war on social media to weaken American society.
> China, [...] military wise is even worse than Russia.
Define "military" first. China's infantry is less experienced than Russia's, but so is America's infantry by-and-large. Neither country envies Russia's army, or the war they chose to fight. Arguably China got the best of both worlds by sending a limited quantity of mercenaries to study the way the conflict was fought.
The war China wants to fight is in the first island chain. They don't need their infantry to swim to Taiwan to occupy it, they need their navy and air force to deny America A2/AD while their Marines fight onshore. Their army is almost purely a defensive force in this conflict, and it's unlikely that they'll be deployed en-masse if the US manages to disrupt their logistics. The pressure will be on China's missile forces and naval assets, both of which are very credible for the war they want to fight. On the other hand, America's Arleigh Burkes will be running with half their VLSes empty because the US needed to launch decapitation strikes against Iranian kindergartens.
Military-wise, China has almost every advantage they could want. They'll be fighting an overextended opponent that has limited support from their Pacific ocean assets, a miniature international coalition, and a depleted magazine depth with no esclatory strategic advantage. None of those are worth giving up to bloody your troops, especially if those troops are mostly just going to watch the war unfold on their smartphone.
No, China military (or rather, navy+airforce), while less corrupt than Russia contrary to what GP claimed (or gggp?), is still way inferior to the US in a direct conflict (mostly because of the US air dominance + OTAN submarines and radar tech). The truth is that they don't need an army anyway, they just need to wait an economic slump and will get Taiwan politically/economically.
Thales land radar systems always perform as expected, sometime better than expected, in land conflicts. If this is the same for their naval radars, they are far ahead of the competition.
The flip side is that the US isn't used to fighting anything other than asymmetric warfare / insurgencies / terrorism against people who can't project force and can't really hit back. We park valuable assets out in the open on military bases and installations around the world, and don't do anything to shelter them or even move them around during a conflict because of hubris.
Iran also basically just fought us to a stalemate, with an arguably long-term strategic victory going to Iran, just by being willing to absorb more punishment in the short term. Once we depleted our stocks of expensive weaponry we had to stop. We could win every fight and still lose the war.
> Iran also basically just fought us to a stalemate, with an arguably long-term strategic victory going to Iran, just by being willing to absorb more punishment in the short term. Once we depleted our stocks of expensive weaponry we had to stop. We could win every fight and still lose the war.
Iran had a different victory condition. All they had to do was outlast and not be completely wiped out. Trump's victory condition was... well, only Trump knows. Short of a total ground invasion of Iran and full eradication of the Iranian regime (a tall, tall order), victory for the US in Iran, in the eyes of the public, was always going to be impossible.
Trump seemed to think that the Iranian regime was unstable and would fall once the US killed their top ranks and applied a bit of pressure. Turns out that he was very wrong (and experts would have told him if he had bothered to ask / listen).
This is a war that even the "forever war" US military-intelligence complex had been resisting starting for decades. This really illustrates what a colossally bad idea it was.
Short, medium and long-term this will spur the world to move off of fossil fuels. I'm not a fan of war, especially this stupid one, but that one benefit may be, unintentionally, worth it.
The majority of demand for fossil fuels is for energy. Switching to alternative sources for energy is not “demand destruction” unless you zoom in your analysis so much that you’re missing the forest for the trees.
You cannot just switch an entire country's energy source on a finger snap nor do we have a viable alternative for making nitrogen based fertilizer. East Asia, which is heavily dependent on Middle East gas, is already bracing for energy shortages. What is likely to happen next is a fertilizer shortage in some poorer countries which will then lead to food shortages and social unrest.
I assume your understanding of "demand destruction" is mixing concepts.
GP said switching to alternative sources isn't demand destruction when it IS technically and relatively.
The parent's point: until you get those renewables online (decade long process now with permitting), prices will go up. You'll have people using less energy (in general) and less O&G -- both are quintessential demand destruction.
For nitrogen fertilizer (ammonia), there's already demand destruction with people cutting back due to price shocks. That's less food and ag.
Using less of any resource because it’s been blocked doesn’t mean the demand is destroyed. The demand can remain perfectly the same or even go up.
My point was that the OP was myopically focusing on fossil fuel do demand when the real demand that would lead to switching to renewables is the demand for energy.
The switch to renewables isn’t expected to happen on a finger snap.
And if we no longer need the majority of fossil fuels for oil, we will have more of our own ample local fossil fuels to allocate to production of things that still require them like your afore mentioned fertilizer or lubricants.
In the short term, Trump is actually paying people to stop existing solar and wind projects and is not exactly open to new ones starting up. So.. oil it is then.
If you look at it from a world rather than USA perspective, expensive oil is encouraging other countries to buy new energy tech and EVs from China. It was probably going to happen anyways, but Trump sped it up.
It's not over yet, but the status quo is certainly a loss for the US. Which to me indicates Trump won't stop here, he needs something he can at least spin as a win.
I think Trump is about to lose patience with Iran again and we're in for a second phase of this war. What that looks like afterwards is anyone's guess. I'm not very optimistic.
It's not impossible that if the IRGC can't make payroll that things start to change from the inside, like what happened in Serbia. I'm not going to bet on that outcome though.
> I think Trump is about to lose patience with Iran again and we're in for a second phase of this war. What that looks like afterwards is anyone's guess. I'm not very optimistic.
I think we'll have that answer shortly after trump and xi have their little meeting, but I agree with you.
Until this year, US military bases were seen as an asset. They were thought to deter attacks, and in the case of someone being crazy enough to attack the country that hosted a US military base, they sold the promise of a quick and decisive response.
But for countries in the Middle East, every base was nothing but a liability with nothing but a long list of detriments. The bases got attacked and destroyed with basically zero effort whatsoever, local militaries had to step up to defend the US bases on their own dime and with their own people putting their lives on the line, and the bases basically just served as provocation and ended up with the countries being attacked as "punishment" for letting the US military operate on their land. And the US put in the bare minimum effort, if any, to defend the countries being attacked. It was basically "that's on you. Buzz off".
Europe is now being threatened with having their US bases cut back/removed entirely and I'm not sure if people are even worried anymore. People have been using the term "paper tiger" to refer to Russia these past 4 years because their efforts at war have been absolutely embarrassing. Somehow the US has made Russia look competent, and despite being against all the BS America did in Vietnam, Iraq, Afghanistan, etc, I didn't think America would somehow show itself to be more rotted out from the inside than Russia. I always assumed the US was competent, albeit war hungry. But somehow competence has completely vanished.
And right now, East Asian allies of the US operate under the very wrong assumption that the US will back them up if China/Russia/North Korea tries something. And now that those countries know the US won't do shit, there's a non zero chance that they've taken war plans from purely hypothetical plans to "we could actually do this" plans.
The situation in Europe is even more crazy. The US needs the bases in Europe to project power in the Middle East. If every country in Europe would ask the US to leave then the US would have a very serious issue projecting power around the world.
The US bases are also pretty expensive to set up. Lots of logistic support has to be in place to let those bases function. That require a lot of support from the host country. Normally, you would expect the US to be friendly with the host countries, but that seems lost on the current administration.
What is really wrong is that it is known that russia is fighting in Ukraine with drones designed in Iran. And we have seen how hard it is for US designed weapons to deal with those drones. To the point that a lot of development is happening in Ukraine to deal with this problem.
By attacking Iran, the US has shown the world that Ukraine is the weapon supplier of choice against future drone wars.
Yeah, the US is trying to peddle massive missiles that individually cost as much as the entire defense budget for some small nations, as well as large boats that are just giant sitting ducks. Ukraine is showing that cheap drones are the best defensive asset to have and are currently difficult to counter. China is always flaunting their drone shows, and there's no doubt they've got a defensive/offensive fleet of them ready to go and the US seems to be making zero efforts at making any sort of defense against them. There's been plenty of time to learn from Ukraine and the US military industrial complex is just twiddling their thumbs and sucking up money for more of last century's tech
> The bases got attacked and destroyed with basically zero effort whatsoever, local militaries had to step up to defend the US bases on their own dime and with their own people putting their lives on the line
As a US citizen, I hope more countries come to this realization and start rejecting these.
It's such a lose-lose for everyone
The establishment and maintenance of these bases cost the tax payers so much....
If only we could refocus this massive expenditure of resources to internal domestic infrastructure...
The America First MAGA people fail so hard to understand that these expenditures on things like foreign bases and US Aid resulted in far greater returns for us. It's never been about altruism or the greater good.
I say this as an anti-empirical leftist with no great sympathy for the effort, but for those proclaiming to put America's interests above all else it's just such an obvious and idiotic short-sighted self-own.
US Aid has probably been the biggest ace the US ever had in its hand.
US farmers growing otherwise unprofitable crops with no buyer? Check.
US exporters being able to export crops? Check.
US Aid workers being able to give food to starving people in countries that have huge deposits of rare earth materials? Check.
US intelligence apparatus having advanced knowledge of developing situations in strategically important countries? Check.
US Aid workers being able deliver tremendous goodwill to countries that China or Russia would love to have their tentacles in? Check.
Everyone's happy, everyone makes money, everyone eats.
Yet Donald Trump and Elon Musk don't like it, so away it goes. And there's no adult in the room to say "no, you're not cutting it, here's why".
I know, this makes me crazy. The response should have been "... and?! You mean the intelligence community has a worldwide network for raking local information that also accrues goodwill to the US, and you want to end that?"
And not only accrues goodwill, it keeps American farmers growing crops that are otherwise unprofitable. US Farmers are too stubborn to keep up with the times, insist on growing crops that there's no domestic demand for (and are heavily subsidized), yet vote in jackasses that are going to take away the only market there is for their crops.
USAID somehow managed to get everyone paid and kept everyone happy. Who gives a shit if it was a CIA front?
Investing in domestic infrastructure would generate even greater returns. Yes, through some financial hand waving, we may funnel money spent on bombs back to US military contractors, but imagine if that same money was spent on a high speed rail system. It would unlock greater efficiency and logistics with the same money staying with US contractors. That's a purely financial take and not even touching on humanitarian or ecological costs of imperialism.
Greater returns for whom, and what would we gain geopolitically?
I don't disagree that money should be spent here. But instead of billions spent on military contractors, using some of that money in developing countries through USAID gets us some incredible returns...such as our work in the Congo securing our rights to the largest Cobalt deposit on the planet. Or our work in Namibia giving us access to the 4th largest deposit of Uranium on the planet. The top 3 countries for Uranium exports are either under the Sino-Russian sphere of influence (Kazakhstan) or are nations that could get there due to the fact that they fucking hate the US due to the genius words of Donald Trump (Canada and Australia).
You want America's sources of Cobalt and Uranium cozying up to China and giving the US the finger?
>The establishment and maintenance of these bases cost the tax payers so much....
They supported USA's hegemony, extension of soft powers - essentially (not a quote) 'we trade with USA because they're our partner, they help us with defence against tyrants'. Except, when USA vote in a fascist tyrant.
Many bridges have been burned.
USA is just like a company taken over by venture capitalists, and just like such a company those capitalists look like they'll run it into the ground and make off with all the money.
European here (from Spain), and the overwhelming majority of people I know are hoping for the removal of the bases. They are worried, yes... worried that it's just grandstanding and it's not really going to get done (which is likely, because those bases have always been there mainly for the benefit of the US).
IMO the last point is a definitely plus. Defense procurement is a feeding trough for the incumbents. Exposing the current state is a required first step for any meaningful transition (not sufficient and will probably not happen this time, but required nevertheless). My 2c.
If the war is about Taiwan there are problems. Who in America wants to die for Taiwan? Let's be honest there would also be a racial component in it. Berliners were at least white and Christian.
CCP on the other hand can play the nationalist card.
Ofcourse it is my genuine belief that war between the US and China would be amazingly stupid and a waste of human life.
Iranians were scoring direct hits on top priority infrastructure in the first days of the conflict. Only in the last couple of weeks has US media started to report the extensive damaged visited upon the (now mostly abandoned) US bases in the gulf.
Its really difficult to overstate the level of strategic defeat that has occurred here.
Then the causal chain is War in Iran -> Oil Price increase -> Inflation & Fed Rate fears -> Treasury sell-off. Geopolitical risk creates inflation shock, and if bonds sell off on war news, their utility as a portfolio hedge weakens, and capital holders start looking for new assets (stocks and property). Also, the exodus from bonds first results in a pile of sidelined capital whose eventual rotation into stocks and property and gold leads to more market instability down the road.
Also, Russian and Iranian windfall oil profits are up along with those of Exxon, Chevron, Shell etc., the arms producers like Lockheed are booming, and for some reason, ‘prediction markets’ (gambling interests) also:
Well, European partners are looking, too - and they are drawing logical conclusions, such as producing more interceptors locally rather than wait years for the first batches of PAC-3.
> I can't think of a single way in which the United States came out ahead in the war.
I wouldn't jump to conclusions yet. The war is not over. I wouldn't even be so sure as to say Iran is in a good place right now.
Iran can absorb more pain than the US, but even that has a deadline. For the US, the only pain is inflation, which is more a matter of political capital than anything tangible. Trump is a lame duck president so I think he's more than happy to spend his political capital on this.
It's different for Iran. The main concern with a prolonged conflict is a lack of oil storage space. Once the tanks are full you have to cap the wells which is nigh disastrous for Iran because of the cost and difficulty of reactivating those wells later on.
To be clear, I'm not saying the US is going to come out victorious. But war is complex and it's a folly to predict any outcomes this early on.
> Iran can absorb more pain than the US, but even that has a deadline.
It doesn't. This is the western mentality, thinking you are dealing with sane people.
I'm from Iran (now living in the West), there's a famous Shia motto: "Every day is Ashura, every land is Karbala".
Around 30% of the population are die hard IRGC supporters, another 10% are neutral and the rest don't like the regime.
The problem is that, the war has caused a major rally around the flag effect.
The IRGC has more support than ever now. It's a battle for the Iran now against United States, attempting to destroy people's homes.
I'm not a fan of IRGC. My 20 year old cousin was captured and tortured in Evin prison for 6 months during the Mahsa uprising in 2022 [3]. You can't imagine how much I hate them, but I love Iran more. If I was there, I would be fighting the Americans right now.
Iranians are not going give up, right now, you will have to kill all 90M of us to "win".
> It doesn't. This is the western mentality, thinking you are dealing with sane people.
I'm not talking about sanity. I understand that the IRGC is greater than the sum of the parts and that no individual life matters.
I'm talking about the oil wells. The IRGC may not care about human life, but you need money to stay in power. Money that will disappear the longer you can't sell your oil and the more oils you have to cap.
> The problem is that, the war has caused a major rally around the flag effect.
I don't believe you. Do you have proof? Iran is pretty damn closed off from the rest of the world so I have a hard time believing that you have some great insider knowledge about this.
> I'm not a fan of IRGC. My 20 year old cousin was captured and tortured in Evin prison for 6 months during the Mahsa uprising in 2022 [3]. You can't imagine how much I hate them, but I love Iran more. If I was there, I would be fighting the Americans right now.
I don't believe you. I'd believe you saying that you'd be against America, but not that you'd be fighting them. If that were true, why are you not traveling to Iran to join the IRGC right now?
Re: "I'm talking about the oil wells. The IRGC may not care about human life, but you need money to stay in power." US stopped bombing Iranian oil infrastructure after Iran responded by bombing and taking out a bunch of Qatar's LNG infrastructure for a good 3-5 years [0]. So this problem at least is solved for IRGC.
Re: "I don't believe you. Do you have proof?" - you come off as un-necessary rude and aggressive. You are assuming GP lies - and that is not a good attitude. You could re-phrase your question in a way to make people engage with you.
Re: "If that were true, why are you not traveling to Iran to join the IRGC right now?" Do you understand that Iranians living in the US have different choices than Iranians living in Iran?
> Re: "I'm talking about the oil wells. The IRGC may not care about human life, but you need money to stay in power." US stopped bombing Iranian oil infrastructure after Iran responded by bombing and taking out a bunch of Qatar's LNG infrastructure for a good 3-5 years [0]. So this problem at least is solved for IRGC.
It's not. The problem, which I already wrote in my original comment, is with oil storage. When oil flows, it needs to go somewhere. Before it would go on tankers and be sold to China (and a few others). Now, it goes into storage. But storage is not unlimited. And when storage runs out, the oil wells will need to be capped. If they stay capped for more than a few weeks, those wells become insanely expensive to reactivate, and might not be something the IRGC will be able to do.
This is the clock that's ticking.
> Re: "I don't believe you. Do you have proof?" - you come off as un-necessary rude and aggressive. You are assuming GP lies - and that is not a good attitude. You could re-phrase your question in a way to make people engage with you.
You made statements about what Iranians think. I want some proof, given that the internet is off in Iran and I have seen no reporting around the thoughts of the Iranian people.
> I don't believe you. Do you have proof? Iran is pretty damn closed off from the rest of the world so I have a hard time believing that you have some great insider knowledge about this.
They are not entirely closed off. Apparently there is a communication going on around closures, because I have seen fairly inside Iran info in French media (about executions, about people leaving Teheran etc etc). They are more guarded and dont do strong statements as OP. It is not possible to establish general what people in general think under current conditions. The executions are still going on, no one will randomly admit they are against irgc. But, they are fairly consistent with what he said.
The other consistent thing I heard in interviews (this time by British media) is that Iran is very nationalistic. Even people who hate regime are proud of Iran itself. That makes them more prone toward rally around the flag.
And unfortunately, America made it clear it wants to harm average Iranian. Plus its idea of regime change is to keep regime intact and change head (see Venezuela), so there is no one who would had actual reason to want America win.
> And unfortunately, America made it clear it wants to harm average Iranian.
By and large this is not true. The US and Israel have hit Iran tens of thousands of times, and have never hit a pure civilian target on purpose. They've hit dual use targets, and accidentally hit civilian targets, but not ones on purpose. They could flatten Tehran if they wanted to hit civilians.
> Plus its idea of regime change is to keep regime intact and change head (see Venezuela), so there is no one who would had actual reason to want America win.
You're not entirely wrong here, and I've seen frustration from the US side that Mojtaba Khamenei is MIA (or dead).
The Trump admin has pretty low approval ratings. If some very hostile country bombed the US, is your default assumption that the folks who despise Trump would somehow support the bombing?
You could probably find a few crazies that would, but wouldn't you assume people would prioritize their hate towards the people blowing up their friends, family, and property?
Great cultural-disconnect observation. It's more specific than that. Fighting for your survival against an unjust and immoral oppressor who wants to force you to do things you do not want.
That is not correct and the comment you replied to even pointed out several ways it hurt the US other than that
Inflation is the only Immediate pain. The other harms will play out over years.
While war games already predicted we’d run out of basically all defensive and offensive weapons almost immediately in a confrontation with China, that wasn’t demonstrated yet. Now it has been proven, but not even with China, with much smaller and less powerful Iran. We used a major portion of our stuff, it didn’t accomplish anything major, and now we’re already depleted like a paper tiger.
> While war games already predicted we’d run out of basically all defensive and offensive weapons almost immediately in a confrontation with China, that wasn’t demonstrated yet. Now it has been proven, but not even with China, with much smaller and less powerful Iran. We used a major portion of our stuff, it didn’t accomplish anything major, and now we’re already depleted like a paper tiger.
This is a positive, not a negative. It's a needed wake up call and better to get it now instead of during a war with China.
> For the US, the only pain is inflation, which is more a matter of political capital than anything tangible.
As others point out Iran had their own fair share of issues and there were protests but now they have a common enemy to fight. Most likely it keeps galvanizing people in the Middle East against US and then Americans wonder why people chant - Death to...But then again this shows average American has no clue about different cultures and the best analysis is - Iran is done, just like how Taliban was done right?
Besides inflation, American has other problems like running out of missiles and bombs. This war is about attrition, and American weapons are being attrited faster than Iranian ones.
The war is not over, but I would not count out the Iranians going for another strategic goal not mentioned in the GP post: make is so that the American president that attacked Iran loses the midterm big time.
> Besides inflation, American has other problems like running out of missiles and bombs. This war is about attrition, and American weapons are being attrited faster than Iranian ones.
The US doesn't need to fire more missiles, it just needs to blockade the strait and force Iran to cap its wells.
> The war is not over, but I would not count out the Iranians going for another strategic goal not mentioned in the GP post: make is so that the American president that attacked Iran loses the midterm big time.
I think Trump has already conceded the midterms. He's a lame duck president anyways so it's not his mess to clean up
Do not forget or ignore Trump "joking" about a third term. Things could get really messy towards the end of his second term.
I don't get why so many people ignore it. Does Trump look like the kind of guy who respects the constitution to you? Or more like the kind of guy who is trying to build an autocracy? Have you noticed what he does with officials that follow the law and their agency's mission, but not Trump's whims?
It doesn't matter who "wins" the war, it's already a strategic loss for the US, like every single conflict the US went into since ww2. If they can't just blow the problem away with bombs they invariably and inevitably fuck it up, and as it turns out you can't bomb away that many problems
> like every single conflict the US went into since ww2
Depends on how you connect conflicts to strategic aims. The US won the cold war. Could they have done so without all the military conflicts? Further, what's the best way to maintain a strong fighting force? By fighting. The US needs wars to maintain it's fighting muscle.
Removing sanctions on Russian oil, destroying America's standing in the world, humiliating Zelensky in the White House, holding a summit with Putin in Alaska, discrediting the interference in US elections, etc., etc.
But you're probably right, an actual puppet wouldn't be so blatantly obvious about working for Putin.
Edit: I know you'll be surprised but the current administration still hasn't spent the $400M allocated for Ukraine![0]
No, they wouldn't, and they don't have it because they have chosen not to. There is something called an escalation ladder: you do not threaten to leave or kill your partner just because she spilled milk on your floor. That is the same reason Russia did not use nukes, and why other nuclear armed countries involved in conflicts have also avoided using them. The same logic applies here. Another example is that the US could bomb the Kharg island containing Iran's oil infrastructure, but that would be a major escalation. Iran would then have no reason to show restraint and could bomb the oil infrastructure of the Gulf states, creating a worldwide crisis.
US stopped bombing Iranian oil infrastructure when Iran responded by taking out a chunk of Qatar LNG infrastructure for a few years [0]. This example shows the escalation ladder and also proves that Iran does not need nukes for this conflict (so far at least....)
There are far more dangerous countries with nuclear weapons than Iran (such as Israel). If Iran had nukes, we'd all be safer as Israel/US would be faced with MAD and would be unable to use nuclear weapons against Iran.
The US was not supposed to come out ahead. This is crony capitalism. Think about all the money Trump JR can make selling drones and all the VC companies benefiting from defense spending!
It's actually very difficult to implement a change in our timeline on such a complex issue without causing a mix of positive and negative effects relative to your desired goal. It's very hard to impute whether anyone in the White House actually had a successful causal motive->plan->implementation->effect loop deliberately, but there are always high points, even of grotesque failure.
Obviously it's not NET positive, but if I had to highlight one positive for the US from their perspective, setting most of our guided munitions on fire overnight breaks the military, and the suspicion is that it breaks the military at a time when China is not quite yet prepared to invade Taiwan. It is now in a widely acknowledged catastrophic munitions stockpile crisis which Congress will have to fix via large, sustained investment; Increasing procurement rates for many systems by an order of magnitude on the low end. A year ago, and 10 years ago, and 25 years ago, it was in a severe munitions stockpile crisis according to everyone who's ever ran a wargame or tried to figure out deterrence policy for a non-nuclear shooting war
After the Cold War, we basically reduced most munitions stockpiles to a level consistent with a Desert Storm scale operation, but kept paying exorbitant amounts of money to keep defense contractors technically alive, producing a handful of units a year at costs that pay for the overhead of existing. In areas like naval procurement, the contradictions entailed by this approach combined with neoliberal austerity posturing and a lackadaisical response to delays, have combined to turn almost every major shipbuilding effort since the Cold War into an expensive failure. We are spending a remarkable amount of money on military equipment and probably getting 5% of what we would get if we spent twice that much and emphasized industrial performance rather than contractor sustainment.
A year ago, Congress and the Pentagon were carefully ignoring this for political reasons, while the MIC & foreign policy blob believes China was looking at it as an opportunity.
> It is now in a widely acknowledged catastrophic munitions stockpile crisis which Congress will have to fix via large, sustained investment;
How exactly is it positive to waste munition and thus force the congress to buy new munition? You will spend a huge amount of money to ... get where you was.
Printing munitions is not as long as scaling up production to print up munitions. Russian war showed that it will be too late to scale anything once the enemy trench in.
i dont understand why the hardliners are bad they were right. the war waged against them was threatened to be nuclear "an entire civilization will die tonight". the country threatening iran unjustly is indeed the great satan. no justification except for being egged on by our hyper aggressive expansionist apartheid proxy israel. we should pay reparations.
Iran has no nuclear weapons. The administration simply wishes to prevent Israel from facing opponents that also have a nuclear deterrent (Israel has nuclear landmines, briefcases, missiles, and neutron bombs according to Sy Hersh). A deterrent would radically curb Israeli aggression and maybe even end the genocide in Gaza. There is little risk Iran would use a nuclear weapon. This is pure western aggression.
Sy Hersh hasn't been credible for a long time. We know Israel has a variety of nuclear weapons, but don't trust anything Hersh asserts without credible independent support.
Probably going to juice EV sales is the only positive I'm taking away from this. Trump might end up being the person who tipped the balance and kills the ICE car.
(Once ICE cars fall below a certain percentage, they will have structural disadvantages to EVs because ICE engines are so expensive to design.)
When the position of the United States gets hurt, it means "liberals" get hurt - where "liberal" means anybody who might believe in lofty ideals like Constitutional rights or simply hasn't thrown in their lot with a hollow New York con man. I have tried and tried to steelman, but from everything I can tell this is really the only concrete policy mandate behind Trumpism. It's a societal death cult. Heaven's Gate didn't think they were killing themselves either.
I find it so interesting that you believe the Supreme Leader was a moderate. Also that somehow, the almost complete dismantling of the Iranian military resulted in Iran having more control over the straits of Hormuz. "The end of the US empire" so dramatic! fun stuff
There is a ready list of American and European IRGC sympathizers. They would rather have the status quo of the Carter disaster than to give a green light to a no-RoE takeover of Iran.
Deny (or strip) them clearances, access to intelligence, and/or influence over defense policy.
>I can't think of a single way in which the United States came out ahead in the war.
The stock market did, which is amazing if you're the top 10% of asset owners who own 50% of the country's wealth.
>except Russia by heaping sky rocketing energy costs on them
Russia doesn't benefit from this energy spike, since its biggest customers, China and India, have long term contracts that Russia can't just rip and renegotiate to charge spot prices, since they're in a pickle right now and depend on imports to keep the war going while not being able to sell to too many nations so they're stuck watching potential earnings go past them.
> Data suggests that Moscow has already made billions of dollars of additional
> revenue from oil sales because of higher crude prices, as well as the fact
> that the United States temporarily rescinded sanctions on Russia to rein in
> global costs
They probably had a few stock owners in mind, which came ahead and keep coming ahead with strategically planned transactions placed right before another US major move - all by pure coincidence of course.
I'm sure you've at least heard what the United States' leaders have to say. To paraphrase Trump, "stopping nuclear proliferation to a group of lunatics that support terrorism". And also (still paraphrasing Trump), "the US doesn't need this as much as the rest of the world." So, perhaps this doesn't put the US ahead relative to other countries, but it puts them ahead of the counterfactual nuclear wasteland they could become.
Whether or not you believe the United States' leaders, whether or not you think there was a better way for them to achieve their goals (something something Obama deal) is up for debate. But it's very facetious to say you "can't think of a single way in which the United States came out ahead in the war," when the United States' leaders have been publicly announcing it for nearly a year.
> Whether or not you believe the United States' leaders, whether or not you think there was a better way for them to achieve their goals (something something Obama deal) is up for debate. But it's very facetious to say you "can't think of a single way in which the United States came out ahead in the war," when the United States' leaders have been publicly announcing it for nearly a year.
This comment doesn't make sense to me; if one doesn't agree with the US leaders then one can perfectly well say that one can't think of a single way in which the US has come out ahead. In fact that's just another way of saying that one doesn't agree with US leaders; there's no contradiction here.
Those are real wages. We would expect to see that during a sudden jump in inflation. Wages tend to lag inflation.
The other interesting part in that article is that excluding fuel and food still shows 2.8% inflation - only 1% attributable to food and fuel. Makes it seem like the main article and this article have different spins.
Edit: Wow people are jumping on this. The point is that food and fuel increases account for about 26% of the overall inflation number, meaning that the bulk of inflation is not related directly to fuel. The original article makes it it seem different.
I will say, this past inflation spike has completely broken the assumptions I had from 1970s economics that employers would raise their 'cost of living' raises to keep pace with inflation. My employer seems to think 2.5% is fine, as they've done it multiple years in recent past with only one extraordinary year netting 4%. I am now very skeptical of any so called 'wage price spiral'
The driver of real wages is the economic level of the whole country, which moves at a pretty slow pace (if at all) for an advanced economy. Many jobs today pay around the same as they did 30 years ago, because dollars (currency) aren't a measure of true value, and lots if not most jobs produce the same relative value today as they did 30 years ago.
To put that more plainly, lower class, middle class, and upper class defining jobs pretty much stay the same.
> I am now very skeptical of any so called 'wage price spiral'
The wage-price spiral now happens when people move. I've definitely noticed that average salaries for my role (data person) have increased singificantly since 2020 or so.
Fuel and food are excluded from core inflation not because they're unimportant (they are in fact incredibly important) but because they are much more volatile in price--going up and down in bigger increments--so that you get a more stable view of inflation by excluding them.
But it's a bit of a nasty trick because food, in particular, has inflated in price a lot the past 3 years. Some items, like sugar, are legitimately double the price they were.
What do you mean by this? If adding food and fuel raises CPI by 1%, then the food and fuel prices have necessarily raised by _more_ than the combined 3.8%.
Most SWEs are not top 5%. The median is about $135/yr, and a significant portion of us make under that.
The point was that a 1% increase in inflation due to food and fuel wasnt the end of the world. Does a 1% cost of living increase hurt? Sure, for many people on the margin of making ends meet it can be bad. For most people, $1 more out of $100 is survivable.
Usually from what I have seen, most SWE's partners are also in tech or "white collar adjacent" making similar money. Which makes a household income of $270k, putting them in somewhere around the top ~7.5%.
I have seen some of that, but there is still plenty of non-tech partners, especially if the tech half is at a non-tech company. In my experience, the managers are the ones most likely to have a high earning spouse. It seems like most of the managers I know have a spouse making $100k+. I don't make as much as others, but I can't even imagine how good my life could be if my wife made the same amount as me so we had a combined income close to $200k.
It's also kind of wild to think that 1 out of 6 households in the US is making $200k+. I get that many of them are in higher cost of living areas where wages are higher, but still WTF. On the other hand, it's something like 1 out of 4 households are making under $50k. Makes me wonder how many of those are retirees vs working age, and what the median household income would be for 25-55yo vs the entire population.
> but I can't even imagine how good my life could be if my wife made the same amount as me so we had a combined income close to $200k.
Outside of a VHCOL, $200k mostly buys you peace of mind, if you live modestly. You get to build savings to be able to say F you to your employer and maybe take time off and spend a few thousand without worry if a family member needs medical attention.
Inside of a VHCOL, $200k merely helps you get a downpayment for a half decent home.
I think you're misinterpreting that. Everything other than food and fuel went up 2.8%. Everything (including food and fuel) went up 3.8%. Therefore food and fuel went up more than 3.8%.
We can see that advertised on every corner, too. Gas costs for me locally went from $3 pre-war to over $5 now. My "investment" in EVs and solar is feeling really good right now.
You have food and fuel, which is some fraction of the economy - call that F. You have a rate of inflation in fuel and food - call that f. And you have a rate of inflation in everything else - call that e. Then you have
3.8 = e(1-F) + fF.
You also have e = 2.8.
I think what you're claiming is that fF = 1.0, so that e(1-F) = 2.8. And I think that's wrong. When they say inflation apart from food and fuel is 2.8, they mean e, not e(1-F).
The US has literally never honored a deal with Iran. Iran has no reason to negotiate with the US. The US either has to back down, put boots on the ground, or sit and wait.
If the government survives, they had a quiet infrastructure investment from China they can activate to rebuild their damaged facilities.
China, and to a lesser extent Russia, will happily help Iran rebuild and rearm. This war has been a major strategic defeat for the US as it has burned through immense amounts high end munitions to destroy low value targets that can be replaced for a relative pittance.
On top of that the US is further isolated from its remaining allies. Being unable to win a war or even protect regional allies against a fourth rate power is an embarrasment for a current/former superpower.
This is the story overall of strategic bombing campaigns. All they do is strengthen the resolve of the recipient country and rally people to the flag.
Before using the nuclear weapons on Japan, we literally firebombed every city in Japan BUT Hiroshima and Nagasaki. And arguably the only reason they surrendered when they did was because Russia was beginning a large scale invasion of their own.
People who call themselves "foreign policy experts" but advocate for regime change through bombing are not serious people, and the fact that we have treated them as such for so long is an indictment on our collective intelligence.
Trump took a high risk gamble, that he would destabilize Iran and the people would overthrow the remnants. That didn't happen, and now Iran gets to inflict severe pain on the US.
I myself am delighted though, because everyone needs to get the fuck off oil, even if it's economically painful for a few years.
Going all the way back to the hostage crisis, the US never really held up their end of the deal. We were also quietly making inroads with the revolutionary government of Iran and then secretly backed Saddam Hussein in the Iran-Iraq war in 1980.
But the elephant in the room is Trump and the JCPOA. We just backed out and gave them nothing in return for them holding up their side of the bargain. Furthermore, we made such an embarrassment out of the other signatories that such a deal amongst western powers will never happen again either.
I understand it is a complicated calculation but to me personally, inflation feels much more than that. I have been tracking the price of milk. Around 3 months ago, i was getting a gallon of milk at $2.97, then it went up to 3.07, then 3.25. Yesterday I paid 3.40. That's like 15% gain on something as basic as milk. All numbers from the same store.
One thing I have noted during this inflationary period is that individual stores/chains are gaming pricing much more than I remember before.
For example, your store might be competing for business using the headline price of eggs and making it up on milk and bread. In our city, Whole Foods was the cheapest non-warehouse place to buy eggs for a while. Anecdotally, it looks like one could save a relatively large % on various goods simply by going to a different store, which was not the case a few short years ago.
Relative pricing stability appears to have collapsed, shopping is more intellectually-intensive now.
You are right and we did shop around for a while to optimize for the best value for the price we were paying. We ended up on a store (Aldi, in this case) which overall had the cheapest basic groceries.
The problem with shopping at 5 stores to save money on groceries is that with gas prices you're probably not saving money, and if you're not moving around to various stores using any type of energy but kinetic, it is a large opportunity cost that could be spent doing other things, if you even have the time at all.
There is no way I could go shop at 5, or even 3 stores a week for food, I simply do not have the time. (Spouse and I both work full-time, 3 kids at 3 different ages going to 3 different schools every day, etc)
What I do is rotate through 4-5 stores but only go to one per week. I stock up on paper towels or whatever when I'm at the store that has the best prices on them, and so on for other goods.
I actually do know someone who regularly hits up multiple grocery stores every week chasing deals and that does seem crazy to me. The cost in gas and time doesn't at all seem worth it.
Because real inflation that people feel is always much worse than the actual number. No one cares if the TVs got cheaper but everyone cares if milk and eggs are more expensive. The average number will still tell you inflation isn’t that bad. Plus variations in local pricing can affect people much more. Dense cities will see a much higher inflation rate than rural areas.
Inflation itself is not a good metric as soon as you leave the avg.
You are on HN, the chance you are part of the american average is very low.
That 15% cost is not relevant if you don't drink milk. Its also a lot less if you are able to save money. That money saved might be for something very specific like one specific car or a house.
The house market, as far as i understand it, is more decoupled from inflation than not. Here in germany a farm costs still 600k and goes up and down based on location and other factors. My money in the bank doesn't has to be inflation neutral, it should be house market neutral for the money i only want to buy a house for.
You can also choose and change your buying power. Instead of the sports car x, you can buy y. Instead of buying the city center house, you can buy the farm outside.
This is not US politics. Its global politics and it affects me as well. Independent of this, hn is not a platform the avg person is visiting. It requires a certain amount of high tech expertise to understand the conent of hn which statistically pushes the avg hn reader above the avg person.
You do know how much impact the USA has around the globe right? right?!
hey just because I am not making above median/average income doesn't mean I don't have the tech expertise. And HN is not that tech intensive. A movie recommendation for you - Good will hunting.
A better source is the USDA AMS which surveys the prices of several different milk products in retail outlets in many cities. They do this not only for milk but many common foods. The data goes back decades.
milk prices go up and down even outside inflation cycles. how do you know this is inflation. price of milk at your local grocery store in last 3 months is not enough data to attribute causation.
you’re not totally wrong but it’s not the outright lie you seem to imply. things like tweaks to the “standard basket” that they claim are in line with consumer preferences, which themselves changed because of inflation, for example, are one way we get a sort of hidden shrink flation.
Oh the reason it is a lie, of course, is not so much the number itself but the fact that it gets redefined, most recently with the purpose of a "robust updating". The new definition of inflation, of course, always seem to define inflation lower.
I seem to have read an article that states that by the 1980s measure inflation hit 15%. Other alternative measures go the same way, with the famous big mac index crossing 10%.
In Europe, they seem to do the same, but seem more fans of actually falsifying the underlying figures (like the LIBOR incident, which turned out to raise mortgage payment yet lower inflation)
Asian central banks (by which we mean China) do it yet another way. They simply declare inflation, 4 years ahead of time, to be a certain value. Then inflation is that value. Of course, last time "for some reason" the economic measures that made up the definition of inflation were suddenly declared state secrets.
Of course this may just be the banks moving at different speeds. Europe used to fix it's inflation problems by redefining what inflation was. They moved on to falsifying data. I guess that's just what's in the FED's future.
But it is a lie, all the basics are skyrocketing and all the useless tech gadgets are getting cheaper (or better, which counts as deflation for them). If food is 30% more expensive but cars/TVs are 0% more expensive but 10 times "better" you get an overall "3% inflation"
I disagree and think GP poster is right on the money.
There are many ways in which inflation numbers are cooked; just one of them is the hedonic adjustment [1].
Others include an un-representative basket of goods.
The basket of goods is adjusted every 2 years, but not necessarily in a way that mirrors the way real households adapt their spending patterns to increased prices.
Owner equivalent rent (LOL) massively lags behind home prices.
Honestly, when 10s or hundreds of millions of people's perception does not match *Official Government Numbers*, then it's reason to suspect that the official numbers are a poor metric.
They apply random multipliers to many products to account for "quality" and "performance", it completely skew the numbers and doesn't reflect the life of most people.
They even give you an example showing how the same car but with 3 more speeds, "smartphone integration" and "keyless entry" should be 3.6% inflation but actually counts as 0.6%
The decades long observation seems to hold gain: Reps were always near the oil-military complex and their main policy after elections always aims to offer them huge profits. An almost theatrical war with a puppet oil producing country achieves all goals. They don't care about people, environment or the world. It will last as long as their benefits outweigh their costs.
What I don’t understand is how the stock market can be so decoupled from reality. It’s a game at this point and completely disconnected from reality. Everything should be down 20%+ given oil is an input to everything and yet stocks are ATHing.
Stocks (naturally) price in inflation before inflation becomes headlines everywhere. People uncertain about the dollar trying to shelter their wealth from inflation will move to stocks to shield themselves.
idk, I read an analysis recently that retail investors in funds like the S&P500 are breaking how the stock market is "supposed" to work since people keep pumping the same money every month for retirement into the same 500 companies (or whatever an index is funding) without consequence to their actions, so they're never punished. Line goes up. The purchasing power of the masses outweighs the old brokerage class that decided which companies succeeded based on "real merits".
>keep pumping the same money every month for retirement into the same 500 companies (or whatever an index is funding) without consequence to their actions, so they're never punished.
When a buyer buys a stock, they are not giving money to the business.
Als, businesses get removed from the SP500 all the time:
These problems are very small compared to mounting death toll from the climate disaster. We are very late in ramping down fossils production but a far greater badness will come if we keep postponing it.
I've seen reporting that energy prices won't return to pre-war levels this calendar year, even assuming an immediate return to the status quo basically right now (which seems unlikely).
I find the whole thing really confusing. The facts I can see with my own eyes suggest high inflation and this surely means no substantial rate cuts (which... the market has expected) if not reduced consumer spending and risk of recessions.
But the markets think everything is... fine? So... what are we missing here?
We probably aren't missing anything. It just can't happen right now because if the stock market capitulates then it does so for years and everyone loses a bunch of money. Their only option is to hope for some kind of end or bailout or whatever that keeps getting further away, and they've pushed that hope way past reason.
> But the markets think everything is... fine? So... what are we missing here?
The current rally is extremely narrow, mostly just AI/Big Tech and chip stocks. But yeah, the "market" appears to believe that this will all be over soon, which seems unlikely to me.
> But the markets think everything is... fine? So... what are we missing here?
You are missing that the current governance is very ready to print money to bailout any situation. The market can go down in nominal value but still up in dollar's.
if everyone believes the straight of hormuz is open, even if it is not, even if 20% less oil is being moved globally, what happens to oil prices? what happens to oil deliveries?
is it possible for oil to be cheap in America while Bangladesh experiences shortages, instead of everyone paying more?
is oil the same as energy? or is it more relevant to transportation?
does it matter? suburban life is quite comfortable, a LOT of people keep choosing big single family home with yard, drive everywhere. driving everywhere is VERY comfortable. a lot of people like it. are they willing to pay more for it? does buying a house that is MUCH cheaper by virtue of being far away from a city stop making sense for 250m americans just because gas is 50% more expensive?
I assume this is a rhetorical question. The Strait is a global shipping channel; a lot of basic commodities flow through it. Not just oil. Fertilizer, grain, basic chemicals are dependent on the channel being open. Today, the WFP was stating that food aid to Somalia has been delayed by 1+ month because of the war.
> is it possible for oil to be cheap in America while Bangladesh experiences shortages, instead of everyone paying more?
Yes. Bigger national and state stockpiles because the US can afford it, and many companies within the US can afford to pay for better futures contracts with suppliers that guarantee a future price in exchange for upfront payment that many poorer countries can’t afford because they have more immediate needs.
Energy pricing is quite easy: We have a global market, the rich people win.
The USA is responsible for this horrendes situation, the USA people will not be the people struggling and dying.
Its the poor people in every country around the globe which literaly will die, while the rich countries will just continue doing whatever they were doing.
Holidays, traveling to visit famiily and friends. It will cost more for sure but you will still do it.
The poor can't afford the food anymore because cooking becomes more expensive. going to your daily job becomes more expensive. The likelyhood of people is getting destroyed beecause the small jobs, the niche jobs are suddenly uprooted. Like the small tuktuk or the cheap and dangerous bus for 6 people is too expensive suddenly.
I have read so many arguments on this site that soft power in fact, apparently does not exist. So, you can't lose what didn't exist in the first place. So I guess a special military operation or two is no problem, according to them.
The average family spends something like $5,000 on gas a year, maybe $10k. Gas could double and it’d be felt, but it’s still just a portion of total spend.
We’ve had $4 gas before (20 years ago?!) and it was annoying but it didn’t end the world.
The perspective from over here in HN land is very skewed.
According to the US Census, median household income in 2024 was $80,000. Add federal and state income tax* of 30%, and you're left with $56,000. Rent in lower-cost areas is around $12,000 ($1k/mo.) and health insurance (assuming ACA, not fancy private plans) is another $7000. Utility prices vary wildly but average something like $450-500 (so $6000 per year). if you don't live in a particularly high-cost area and skip luxuries like home Internet service or media subscriptions.
That's just over $30,000 left over per year for all household expenses, including "luxuries" like food, clothes, and car and home maintenance. Heaven forbid you have loans (car, student, etc.) or any revolving credit debt.
The difference between $5k and $10k in fuel costs is therefore easily 15% vs. 35% of total "inessential" spending. With food and other goods consistently been driven up by inflation and tariffs, there's just no margin for an "average" family.
(Sources vary for the above; US Census comes data from its own website, rent from TIME, health costs from Forbes, and utilities from move.org. Feel free to find better reference numbers if you doubt the above.)
*- yes, not all states charge income tax; most of the ones that don't have other taxes (sales, gas, property) to make up the gap
i don't own a car, i bike everywhere with young kids. i like public transport. we're not talking about that. people fucking LOVE cars. they LOVE single family homes. everywhere, in every community.
You're mistaking cause and effect. We're beholden to corporate interests that abuse the commons for maximum profitability. Single-family homes and cars are only 100 years old in our tens of thousands of years history as humans.
I would LOVE to not have to have a car. I would LOVE to live in a multi-generational home or local community with nearby third places.
> is it possible for oil to be cheap in America while Bangladesh experiences shortages, instead of everyone paying more?
I think the US has been ramping up domestic oil production for a while, creating an interesting situation where (global) prices are high but (domestic) supply is healthy. Prices are up at the pump in the US, but I'm not sure how much of that OPEC+ price-fixing or "risk premium".
In 2015, the US lifted its ban on exporting domestic oil. Since then, US domestic pricing has been linked to the global price.
This means that "domestic production" does not mean what you imply (which is "domestic production that must be sold in the US.") If US producers can make more money selling 100% of domestic production overseas, they will do that.
This is not price-fixing, it is the predictable outcome of a market design where US drivers bid against Asian airlines for petroleum products.
Oil is fungible. Oil producers are going to sell it to whoever pays the most. There is no law that says US oil producers have to sell it to US customers. Having domestic supply does nothing to insulate US consumers from higher prices.
Many products are shipped half way across the US on semi trucks, that hits everyone’s pockets even if you drive an EV.
Train’s move around vast amounts of freight but they got optimized for coat per ton for coal, wheat, etc not latency. Which then plays havoc if you try and do just in time manufacturing etc using them. Airfare and thus airfreight is simply dominated by fuel costs which hits many industries in ways that are less obvious but still expensive.
I live in a major shipping center in a state with a lot of agriculture.
I think that's why my grocery prices haven't gone nuts. For instance, I buy whole chickens (local-grown, free-range) for 99c/lb regularly.
Looking at my receipts, I spend a few hundred/week at this $KROGER. And that includes buying alcohol and non-food items like charcoal, cat litter, diapers, cleaning supplies.
I think it’s less shocking because we’ve seen several years of increased inflation. I’m frankly used to prices being noticeably higher every year where the COVID spike was being compared to 2000-2020. So sure Trump’s been consistently bad for the economy over both his terms, but wow it just doesn’t hit as hard as a pandemic.
I buy groceries 5-7 times a week. I buy things pretty by-need, for the next thing I'm cooking.
I can walk to my local $KROGER or drive 1min (which I do when I'm buying more than I want to carry.)
I assume they get to the store the same way they get to the stores in the cities. On trucks. A lot of what I buy (meat and produce) is grown in the state I live in. So I can make a 6-serving chicken and orzo dish for under $15 easily, for instance. I got it down to $10 when the meat is BOGO too.
I've always rolled my eyes at inflation because clearly, it's worse than the basket of goods they use to monitor. Groceries probably get incentives to keep bread, eggs, etc. prices somewhat regulated so the inflation number is muted. https://en.wikipedia.org/wiki/Goodhart%27s_law
The mental gymnastics Trump supporters must go through to justify blaming Biden for gas prices during his term but blaming everyone but Trump for gas prices now.
Not in the US but I'll go out on a limb and guess that gas stations aren't being littered with 'I Did That!" Trump stickers.
A completely unnecessary war that benefits no one other than Israel and harms the rest of the world. The only positive to come from this is the annihilation of US military assets in the Middle East and an even deeper unity of the world against Zionism. It’s tough times but we will ultimately defeat this heinous ideology.
isn't correct. There are plenty of people on HN working in military contract industries, high tech arms manufacturing and such. They lobby Gov and benefit financially as do their employees.
Only certain types of contractors, and likely only in the short term.
Military contractors do well when the military has widespread support from the voters. Congresscritters will happily approve tax dollars going to the military industrial complex when their constituents view the US as the global protector of democracy. Wars like this one that aren't popular and make us look like thugs open the floor up to anti-military candidates. So yeah, the companies building missiles do well while the war is on, but the people like me who automate military fuel farms see budget cuts and projects cancelled.
I wonder if it does benefit arms R&D folks. At least, as someone not too well informed on the military stuff, it looks like the moral of the story has been that our high-end stuff hasn’t functioned as well as the price tag lead us to expect, and a bunch of cheap drones might be the way to go.
If I worked in military R&D I’d be worried that focus might shift away from the more speculative/less delivery-oriented/fun to work on products…
There was a time when USA guaranteed the safe passage of shipping, which helped secure a peaceful world order, apparently. I view this as a continuation of that legacy, but admit I only have 1-2 books supporting this view.
Everything I said was true : Bretton woods exists, and my opinion flows from that. Feel free to disregard it or correct the facts, I think that'd be a good discussion.
And yeah, USA might do dumb things that put them into a bind, but ultimately the peaceful flow of traffic through Hormuz is a goal worth pursuing for the world economic health.
I'm happy to endulge in a good discussion. My argument is not that deep for sure, but you are only referencing Bretton woods.
The problem with US petro dollar is always the same: we don't know what would have been if it wouldn't exist.
But my main point was very specific to the strait of hormuz and how it was flowing without the help of the USA, now stoped because of the influnece of the USA and how the USA can't restart it.
So your point is not valid for the current state of the strait of hormuz.
You are also moving the goal post now as you state that the peaceful flow of traffic is worth it. Of course it is but now we have to do it and its not the USA helping some other country to fix their problem, in this case every other country needs to do something to fix US Americas problem they created.
USA also got very rich and powerful thanks to the petro dollar, which now shifts to China and now China is benefiting from this. This system was never fair though.
Playing devils advocate, the results are not always intended. I think the intent was to secure the area / prevent a state from becoming hegemonic, esp a state which has proven to be prone to harassing shipping and allies in the area (to say the last), as well as a state which is directly aiding an invasion of Europe/former USSR independent states.
So, circling back to my original comment, the Iran war is in line with the principles of keeping peaceful free trade safe (perhaps only for "us"), but alas, as you say, free trade has paused while we try to do that.
That's it. I dont think that's a hugely controversial statement or obviously false.
This is some extraordinary up-is-down construction. Hormuz was open in February, and for decades preceding that. It's closed now. How is this situation the result of the "guarantee of safe passage of shipping", exactly?
1) Iran has been naughty v. shipping for a long time, directly and indirectly
2) Iran has been naughty v. USA's allies for a long time, directly and indirectly
3) Iran has been naughty v. USA itself for a long time, directly and indirectly
So, in the interested of stable trade through Hormuz, someone decided to push Iran out. The intent was not to close the strait. The effect was to create a situation unsafe for trade, which is ironic and comical, but it's not the intent.
So, since principles determine intent, I think I was not being contradictory.
Well unlike when he and Jerome Powell unleashed the money printer on us in 2020 and it took most of Biden's term to tame inflation, this should last as long as the Iran war. Unless there's a permanent shift in the strait or sticky consumer prices overcome the efficient market.
It's possible, in the short term, but eventually the only oil flowing thru the Strait of Hormuz will be Iranian oil, and perhaps not even that. Give countries enough time and they'll rather invest in building a way around Iran than giving them money for passage thru international waters.
Congress needs to be forbidden from ever raise debt ceiling again. When they run out of money, the first they have to cut is their own wages, then the wages of federal staffers that serve them, then their healthcare, their benefits, everything that serves THEM gets cut first.
I can't think of a single way in which the United States came out ahead in the war. We have
* Demonstrated that the US simply can't offer any meaningful security guarantee to it's middle east partners.
* Permanently ceded de facto control over the straits of Hormuz to Iran
* Significantly strengthened the hardliners in the Iranian regime and cleared the way for them to have absolute power by eliminating all moderates
* Spiked inflation at home and doubled down on pissing off pretty much every single country except Russia by heaping sky rocketing energy costs on them
* Exposed the perilous state of of the defense industrial base (in spite of us spending more than the next 10 countries combined). We simply can't produce enough military hardware to sustain a sustained conflict with a country like Iran. I shudder to think just how badly we will be outmatched in a shooting war with China.
All of this to get to a point where we are negotiating a deal which is worse than what we already had with the JCPOA.
I think we will look back on this as the US version of the Suez crisis, the beginning of the end of the US empire.
The US oil industry is making massive amount of money directly from the people of the US on the inflated prices, since their domestic supply and refineries are unaffected. It also perfectly matches the actions a foreign country trying to harm the US would take. There's so many terrible options to choose from!
The west coast doesn’t actually have pipelines to receive oil from the mountain/Midwest regions, and Alaska has been declining for a while now. So California mostly gets oil from Brazil (not affected) and Iraq (affected).
There are much easier ways of increasing the oil prices that don't have as much drawbacks as trump's war. Of course, for _some_ reason most people and countries prefer _lowering_ oil prices.
Higher oil prices makes renewables even more competitive, so this is another situation where the extreme left and extreme right may agree.
> Higher oil prices makes renewables even more competitive, so this is another situation where the extreme left and extreme right may agree.
Another way would be to introduce carbon pricing, which folks like Greenspan, Volker, Bernanke, Yellen, etc endorsed:
* https://en.wikipedia.org/wiki/Economists%27_Statement_on_Car...
You add a surcharge on carbon emissions, they raise the prices of carbon-intensive activities, which get passed onto end consumers. Companies which reduce their carbon footprint would be able to sell products/services for less money and where many people would choose because it's cheaper.
The key: the money collected is returned to consumers (why it's labelled "dividend") on an average basis. So if you use less carbon than average your refund will be more than your surcharge outlay and you'll come out ahead. If you use more than average, then it's more money out of pocket.
Sadly when Canada tried this under the Trudeau Liberals the Conservatives—which tend to be (federally) concentrated in the O&G-dominant western provinces—attacked it as a "tax" (regardless that the money was refunded), even though it's probably the most market efficient mechanism—which Conservatives even testified to: "Scott Moe says Saskatchewan considered carbon tax alternatives, but found them too costly":
* https://nationalpost.com/news/scott-moe-says-saskatchewan-co...
The gradual increasing of the price would put continued, increasing pressure to reduce emissions, but would not (net) cost people more out of pocket.
The other market efficient solution would probably a cap-and-trade, which is how Canada and the US (under Bush 41) dealt with acid rain.
Renewables being a good thing is not an "extreme left" viewpoint, it's just reality. That being said, I'm going to guess that extreme left supports renewables near 100%.
Have you looked at the current administration's policies regarding renewables?
Also, at his rallies, drill baby drill wasn't exactly met with booing
> Have you looked at the current administration's policies regarding renewables?
Have you looked at the current administration's policies regarding reality, for that matter?
> since their [...] refineries are unaffected
Unfortunately not the case. There are an odd number of refinery issues happening across the US lately.
None of the Trump administrations actions look objectively different than what a foreign adversary would do to destroy the United States of America. It's staring us all in the face every day. My children will pay for this their entire fucking lives.
I bet foreign adversaries are simply throwing in the towel since the American people can do far worse than whatever they could come up with.
"shock and awe"
The saving grace is that China (well modern living CCP members) have never had an armed conflict. China's military ranks are people who got there by playing politics and bending exercises to their benefit rather than showing battlefield competence. There are no war vets or experienced players.
So while they might have incredible man power and manufacturing capability, everyone in that first battle will be seeing battle for the first time in their life.
How is that "saving grace" in any way
It's in direct response to the parent
> I shudder to think just how badly we will be outmatched in a shooting war with China.
China is even worse than Russia on that matter. Before the invasion to Ukraine, Russia was heavily involved in Syria, Chechnia and other conflicts and with that experience it failed miserably. China, with all its posturing, military wise is even worse than Russia. That's why all it can do is propaganda war on social media to weaken American society.
I dont think starting war that you then proceed to loose somehow makes Russia and America look strong.
This difference makes China look smarter and wiser.
> China, [...] military wise is even worse than Russia.
Define "military" first. China's infantry is less experienced than Russia's, but so is America's infantry by-and-large. Neither country envies Russia's army, or the war they chose to fight. Arguably China got the best of both worlds by sending a limited quantity of mercenaries to study the way the conflict was fought.
The war China wants to fight is in the first island chain. They don't need their infantry to swim to Taiwan to occupy it, they need their navy and air force to deny America A2/AD while their Marines fight onshore. Their army is almost purely a defensive force in this conflict, and it's unlikely that they'll be deployed en-masse if the US manages to disrupt their logistics. The pressure will be on China's missile forces and naval assets, both of which are very credible for the war they want to fight. On the other hand, America's Arleigh Burkes will be running with half their VLSes empty because the US needed to launch decapitation strikes against Iranian kindergartens.
Military-wise, China has almost every advantage they could want. They'll be fighting an overextended opponent that has limited support from their Pacific ocean assets, a miniature international coalition, and a depleted magazine depth with no esclatory strategic advantage. None of those are worth giving up to bloody your troops, especially if those troops are mostly just going to watch the war unfold on their smartphone.
No, China military (or rather, navy+airforce), while less corrupt than Russia contrary to what GP claimed (or gggp?), is still way inferior to the US in a direct conflict (mostly because of the US air dominance + OTAN submarines and radar tech). The truth is that they don't need an army anyway, they just need to wait an economic slump and will get Taiwan politically/economically.
Thales land radar systems always perform as expected, sometime better than expected, in land conflicts. If this is the same for their naval radars, they are far ahead of the competition.
The flip side is that the US isn't used to fighting anything other than asymmetric warfare / insurgencies / terrorism against people who can't project force and can't really hit back. We park valuable assets out in the open on military bases and installations around the world, and don't do anything to shelter them or even move them around during a conflict because of hubris.
Iran also basically just fought us to a stalemate, with an arguably long-term strategic victory going to Iran, just by being willing to absorb more punishment in the short term. Once we depleted our stocks of expensive weaponry we had to stop. We could win every fight and still lose the war.
> Iran also basically just fought us to a stalemate, with an arguably long-term strategic victory going to Iran, just by being willing to absorb more punishment in the short term. Once we depleted our stocks of expensive weaponry we had to stop. We could win every fight and still lose the war.
Iran had a different victory condition. All they had to do was outlast and not be completely wiped out. Trump's victory condition was... well, only Trump knows. Short of a total ground invasion of Iran and full eradication of the Iranian regime (a tall, tall order), victory for the US in Iran, in the eyes of the public, was always going to be impossible.
Trump seemed to think that the Iranian regime was unstable and would fall once the US killed their top ranks and applied a bit of pressure. Turns out that he was very wrong (and experts would have told him if he had bothered to ask / listen).
This is a war that even the "forever war" US military-intelligence complex had been resisting starting for decades. This really illustrates what a colossally bad idea it was.
Short, medium and long-term this will spur the world to move off of fossil fuels. I'm not a fan of war, especially this stupid one, but that one benefit may be, unintentionally, worth it.
Ah, 'demand destruction', which in sounds positive in theory but in practice will likely mean poverty, famine and 'population reduction'.
The majority of demand for fossil fuels is for energy. Switching to alternative sources for energy is not “demand destruction” unless you zoom in your analysis so much that you’re missing the forest for the trees.
You cannot just switch an entire country's energy source on a finger snap nor do we have a viable alternative for making nitrogen based fertilizer. East Asia, which is heavily dependent on Middle East gas, is already bracing for energy shortages. What is likely to happen next is a fertilizer shortage in some poorer countries which will then lead to food shortages and social unrest.
> You cannot just switch an entire country's energy source on a finger snap
no one is suggesting that
> nor do we have a viable alternative for making nitrogen based fertilizer
nor is anyone suggesting that
Disagree.
I assume your understanding of "demand destruction" is mixing concepts.
GP said switching to alternative sources isn't demand destruction when it IS technically and relatively.
The parent's point: until you get those renewables online (decade long process now with permitting), prices will go up. You'll have people using less energy (in general) and less O&G -- both are quintessential demand destruction.
For nitrogen fertilizer (ammonia), there's already demand destruction with people cutting back due to price shocks. That's less food and ag.
Using less of any resource because it’s been blocked doesn’t mean the demand is destroyed. The demand can remain perfectly the same or even go up.
My point was that the OP was myopically focusing on fossil fuel do demand when the real demand that would lead to switching to renewables is the demand for energy.
The switch to renewables isn’t expected to happen on a finger snap.
And if we no longer need the majority of fossil fuels for oil, we will have more of our own ample local fossil fuels to allocate to production of things that still require them like your afore mentioned fertilizer or lubricants.
In the short term, Trump is actually paying people to stop existing solar and wind projects and is not exactly open to new ones starting up. So.. oil it is then.
Solar and wind are used for electricity. There's fossil fuels used for that as well but that's mostly natural gas and a bit of coal.
It's nice to be optimistic, but we already have incentives to upgrade to renewable energy.
Short of fuel rationing and gas lines, over $150/week to fill your SUV is probably the biggest incentive possible.
If you look at it from a world rather than USA perspective, expensive oil is encouraging other countries to buy new energy tech and EVs from China. It was probably going to happen anyways, but Trump sped it up.
It's not over yet, but the status quo is certainly a loss for the US. Which to me indicates Trump won't stop here, he needs something he can at least spin as a win.
I think Trump is about to lose patience with Iran again and we're in for a second phase of this war. What that looks like afterwards is anyone's guess. I'm not very optimistic.
It's not impossible that if the IRGC can't make payroll that things start to change from the inside, like what happened in Serbia. I'm not going to bet on that outcome though.
> I think Trump is about to lose patience with Iran again and we're in for a second phase of this war. What that looks like afterwards is anyone's guess. I'm not very optimistic.
I think we'll have that answer shortly after trump and xi have their little meeting, but I agree with you.
Your top point is honestly the biggest.
Until this year, US military bases were seen as an asset. They were thought to deter attacks, and in the case of someone being crazy enough to attack the country that hosted a US military base, they sold the promise of a quick and decisive response.
But for countries in the Middle East, every base was nothing but a liability with nothing but a long list of detriments. The bases got attacked and destroyed with basically zero effort whatsoever, local militaries had to step up to defend the US bases on their own dime and with their own people putting their lives on the line, and the bases basically just served as provocation and ended up with the countries being attacked as "punishment" for letting the US military operate on their land. And the US put in the bare minimum effort, if any, to defend the countries being attacked. It was basically "that's on you. Buzz off".
Europe is now being threatened with having their US bases cut back/removed entirely and I'm not sure if people are even worried anymore. People have been using the term "paper tiger" to refer to Russia these past 4 years because their efforts at war have been absolutely embarrassing. Somehow the US has made Russia look competent, and despite being against all the BS America did in Vietnam, Iraq, Afghanistan, etc, I didn't think America would somehow show itself to be more rotted out from the inside than Russia. I always assumed the US was competent, albeit war hungry. But somehow competence has completely vanished.
And right now, East Asian allies of the US operate under the very wrong assumption that the US will back them up if China/Russia/North Korea tries something. And now that those countries know the US won't do shit, there's a non zero chance that they've taken war plans from purely hypothetical plans to "we could actually do this" plans.
The situation in Europe is even more crazy. The US needs the bases in Europe to project power in the Middle East. If every country in Europe would ask the US to leave then the US would have a very serious issue projecting power around the world.
The US bases are also pretty expensive to set up. Lots of logistic support has to be in place to let those bases function. That require a lot of support from the host country. Normally, you would expect the US to be friendly with the host countries, but that seems lost on the current administration.
What is really wrong is that it is known that russia is fighting in Ukraine with drones designed in Iran. And we have seen how hard it is for US designed weapons to deal with those drones. To the point that a lot of development is happening in Ukraine to deal with this problem.
By attacking Iran, the US has shown the world that Ukraine is the weapon supplier of choice against future drone wars.
Yeah, the US is trying to peddle massive missiles that individually cost as much as the entire defense budget for some small nations, as well as large boats that are just giant sitting ducks. Ukraine is showing that cheap drones are the best defensive asset to have and are currently difficult to counter. China is always flaunting their drone shows, and there's no doubt they've got a defensive/offensive fleet of them ready to go and the US seems to be making zero efforts at making any sort of defense against them. There's been plenty of time to learn from Ukraine and the US military industrial complex is just twiddling their thumbs and sucking up money for more of last century's tech
> The bases got attacked and destroyed with basically zero effort whatsoever, local militaries had to step up to defend the US bases on their own dime and with their own people putting their lives on the line
As a US citizen, I hope more countries come to this realization and start rejecting these.
It's such a lose-lose for everyone
The establishment and maintenance of these bases cost the tax payers so much....
If only we could refocus this massive expenditure of resources to internal domestic infrastructure...
The America First MAGA people fail so hard to understand that these expenditures on things like foreign bases and US Aid resulted in far greater returns for us. It's never been about altruism or the greater good.
I say this as an anti-empirical leftist with no great sympathy for the effort, but for those proclaiming to put America's interests above all else it's just such an obvious and idiotic short-sighted self-own.
US Aid has probably been the biggest ace the US ever had in its hand.
US farmers growing otherwise unprofitable crops with no buyer? Check. US exporters being able to export crops? Check. US Aid workers being able to give food to starving people in countries that have huge deposits of rare earth materials? Check. US intelligence apparatus having advanced knowledge of developing situations in strategically important countries? Check. US Aid workers being able deliver tremendous goodwill to countries that China or Russia would love to have their tentacles in? Check.
Everyone's happy, everyone makes money, everyone eats.
Yet Donald Trump and Elon Musk don't like it, so away it goes. And there's no adult in the room to say "no, you're not cutting it, here's why".
Musk claimed that USAID was a CIA front as part of his rationale to gut it. A very strange thing for a defense contractor to say out loud.
I know, this makes me crazy. The response should have been "... and?! You mean the intelligence community has a worldwide network for raking local information that also accrues goodwill to the US, and you want to end that?"
And not only accrues goodwill, it keeps American farmers growing crops that are otherwise unprofitable. US Farmers are too stubborn to keep up with the times, insist on growing crops that there's no domestic demand for (and are heavily subsidized), yet vote in jackasses that are going to take away the only market there is for their crops.
USAID somehow managed to get everyone paid and kept everyone happy. Who gives a shit if it was a CIA front?
Investing in domestic infrastructure would generate even greater returns. Yes, through some financial hand waving, we may funnel money spent on bombs back to US military contractors, but imagine if that same money was spent on a high speed rail system. It would unlock greater efficiency and logistics with the same money staying with US contractors. That's a purely financial take and not even touching on humanitarian or ecological costs of imperialism.
Greater returns for whom, and what would we gain geopolitically?
I don't disagree that money should be spent here. But instead of billions spent on military contractors, using some of that money in developing countries through USAID gets us some incredible returns...such as our work in the Congo securing our rights to the largest Cobalt deposit on the planet. Or our work in Namibia giving us access to the 4th largest deposit of Uranium on the planet. The top 3 countries for Uranium exports are either under the Sino-Russian sphere of influence (Kazakhstan) or are nations that could get there due to the fact that they fucking hate the US due to the genius words of Donald Trump (Canada and Australia).
You want America's sources of Cobalt and Uranium cozying up to China and giving the US the finger?
>The establishment and maintenance of these bases cost the tax payers so much....
They supported USA's hegemony, extension of soft powers - essentially (not a quote) 'we trade with USA because they're our partner, they help us with defence against tyrants'. Except, when USA vote in a fascist tyrant.
Many bridges have been burned.
USA is just like a company taken over by venture capitalists, and just like such a company those capitalists look like they'll run it into the ground and make off with all the money.
I'm not sure if people are even worried anymore.
European here (from Spain), and the overwhelming majority of people I know are hoping for the removal of the bases. They are worried, yes... worried that it's just grandstanding and it's not really going to get done (which is likely, because those bases have always been there mainly for the benefit of the US).
Which US bases were destroyed?
https://www.washingtonpost.com/investigations/2026/05/06/ira...
https://archive.is/fR8Do
Taking damage does not mean destroyed.
Ahh, so you mean the bases are fully functional and all personnel are back there?
No one said that.
> But somehow competence has completely vanished.
It was pushed out, by force.
It was voted out, by the electorate.
It was replaced, by the tech bros.
Losing wars is surprisingly often not that bad an outcome for countries in the longer run.
Who are you talking about here? Iran?
IMO the last point is a definitely plus. Defense procurement is a feeding trough for the incumbents. Exposing the current state is a required first step for any meaningful transition (not sufficient and will probably not happen this time, but required nevertheless). My 2c.
>I shudder to think just how badly we will be outmatched in a shooting war with China.
A study a few years ago gave the US just 1 week before all its missiles were depleted with China in just a naval war.
If the war is about Taiwan there are problems. Who in America wants to die for Taiwan? Let's be honest there would also be a racial component in it. Berliners were at least white and Christian.
CCP on the other hand can play the nationalist card.
Ofcourse it is my genuine belief that war between the US and China would be amazingly stupid and a waste of human life.
Iranians were scoring direct hits on top priority infrastructure in the first days of the conflict. Only in the last couple of weeks has US media started to report the extensive damaged visited upon the (now mostly abandoned) US bases in the gulf.
Its really difficult to overstate the level of strategic defeat that has occurred here.
Capital flight away from government debt offerings could also be happening:
https://www.ft.com/content/2e0185d1-3229-463c-8391-6dd09fe11...
Then the causal chain is War in Iran -> Oil Price increase -> Inflation & Fed Rate fears -> Treasury sell-off. Geopolitical risk creates inflation shock, and if bonds sell off on war news, their utility as a portfolio hedge weakens, and capital holders start looking for new assets (stocks and property). Also, the exodus from bonds first results in a pile of sidelined capital whose eventual rotation into stocks and property and gold leads to more market instability down the road.
Also, Russian and Iranian windfall oil profits are up along with those of Exxon, Chevron, Shell etc., the arms producers like Lockheed are booming, and for some reason, ‘prediction markets’ (gambling interests) also:
https://vestedfinance.com/blog/us-stocks/who-made-money-from...
> middle east partners
Well, European partners are looking, too - and they are drawing logical conclusions, such as producing more interceptors locally rather than wait years for the first batches of PAC-3.
> I can't think of a single way in which the United States came out ahead in the war.
I wouldn't jump to conclusions yet. The war is not over. I wouldn't even be so sure as to say Iran is in a good place right now.
Iran can absorb more pain than the US, but even that has a deadline. For the US, the only pain is inflation, which is more a matter of political capital than anything tangible. Trump is a lame duck president so I think he's more than happy to spend his political capital on this.
It's different for Iran. The main concern with a prolonged conflict is a lack of oil storage space. Once the tanks are full you have to cap the wells which is nigh disastrous for Iran because of the cost and difficulty of reactivating those wells later on.
To be clear, I'm not saying the US is going to come out victorious. But war is complex and it's a folly to predict any outcomes this early on.
> Iran can absorb more pain than the US, but even that has a deadline.
It doesn't. This is the western mentality, thinking you are dealing with sane people.
I'm from Iran (now living in the West), there's a famous Shia motto: "Every day is Ashura, every land is Karbala".
Around 30% of the population are die hard IRGC supporters, another 10% are neutral and the rest don't like the regime.
The problem is that, the war has caused a major rally around the flag effect.
The IRGC has more support than ever now. It's a battle for the Iran now against United States, attempting to destroy people's homes.
I'm not a fan of IRGC. My 20 year old cousin was captured and tortured in Evin prison for 6 months during the Mahsa uprising in 2022 [3]. You can't imagine how much I hate them, but I love Iran more. If I was there, I would be fighting the Americans right now.
Iranians are not going give up, right now, you will have to kill all 90M of us to "win".
[0] https://en.wikipedia.org/wiki/Ashura
[1] https://en.wikipedia.org/wiki/Karbala
[3] https://en.wikipedia.org/wiki/Mahsa_Amini_protests
> It doesn't. This is the western mentality, thinking you are dealing with sane people.
I'm not talking about sanity. I understand that the IRGC is greater than the sum of the parts and that no individual life matters.
I'm talking about the oil wells. The IRGC may not care about human life, but you need money to stay in power. Money that will disappear the longer you can't sell your oil and the more oils you have to cap.
> The problem is that, the war has caused a major rally around the flag effect.
I don't believe you. Do you have proof? Iran is pretty damn closed off from the rest of the world so I have a hard time believing that you have some great insider knowledge about this.
> I'm not a fan of IRGC. My 20 year old cousin was captured and tortured in Evin prison for 6 months during the Mahsa uprising in 2022 [3]. You can't imagine how much I hate them, but I love Iran more. If I was there, I would be fighting the Americans right now.
I don't believe you. I'd believe you saying that you'd be against America, but not that you'd be fighting them. If that were true, why are you not traveling to Iran to join the IRGC right now?
Re: "I'm talking about the oil wells. The IRGC may not care about human life, but you need money to stay in power." US stopped bombing Iranian oil infrastructure after Iran responded by bombing and taking out a bunch of Qatar's LNG infrastructure for a good 3-5 years [0]. So this problem at least is solved for IRGC.
Re: "I don't believe you. Do you have proof?" - you come off as un-necessary rude and aggressive. You are assuming GP lies - and that is not a good attitude. You could re-phrase your question in a way to make people engage with you.
Re: "If that were true, why are you not traveling to Iran to join the IRGC right now?" Do you understand that Iranians living in the US have different choices than Iranians living in Iran?
[0] https://www.cnbc.com/2026/03/19/iran-attack-qatar-lng-capaci...
> Re: "I'm talking about the oil wells. The IRGC may not care about human life, but you need money to stay in power." US stopped bombing Iranian oil infrastructure after Iran responded by bombing and taking out a bunch of Qatar's LNG infrastructure for a good 3-5 years [0]. So this problem at least is solved for IRGC.
It's not. The problem, which I already wrote in my original comment, is with oil storage. When oil flows, it needs to go somewhere. Before it would go on tankers and be sold to China (and a few others). Now, it goes into storage. But storage is not unlimited. And when storage runs out, the oil wells will need to be capped. If they stay capped for more than a few weeks, those wells become insanely expensive to reactivate, and might not be something the IRGC will be able to do.
This is the clock that's ticking.
> Re: "I don't believe you. Do you have proof?" - you come off as un-necessary rude and aggressive. You are assuming GP lies - and that is not a good attitude. You could re-phrase your question in a way to make people engage with you.
You made statements about what Iranians think. I want some proof, given that the internet is off in Iran and I have seen no reporting around the thoughts of the Iranian people.
> I don't believe you. Do you have proof? Iran is pretty damn closed off from the rest of the world so I have a hard time believing that you have some great insider knowledge about this.
They are not entirely closed off. Apparently there is a communication going on around closures, because I have seen fairly inside Iran info in French media (about executions, about people leaving Teheran etc etc). They are more guarded and dont do strong statements as OP. It is not possible to establish general what people in general think under current conditions. The executions are still going on, no one will randomly admit they are against irgc. But, they are fairly consistent with what he said.
The other consistent thing I heard in interviews (this time by British media) is that Iran is very nationalistic. Even people who hate regime are proud of Iran itself. That makes them more prone toward rally around the flag.
And unfortunately, America made it clear it wants to harm average Iranian. Plus its idea of regime change is to keep regime intact and change head (see Venezuela), so there is no one who would had actual reason to want America win.
> And unfortunately, America made it clear it wants to harm average Iranian.
By and large this is not true. The US and Israel have hit Iran tens of thousands of times, and have never hit a pure civilian target on purpose. They've hit dual use targets, and accidentally hit civilian targets, but not ones on purpose. They could flatten Tehran if they wanted to hit civilians.
> Plus its idea of regime change is to keep regime intact and change head (see Venezuela), so there is no one who would had actual reason to want America win.
You're not entirely wrong here, and I've seen frustration from the US side that Mojtaba Khamenei is MIA (or dead).
"A whole civilization will die tonight, never to be brought back again" - Sounds pretty wanting to harm the average Iranian to me.
Or "We are going to hit them extremely hard over the next two to three weeks. We are going to bring them back to the stone ages where they belong."
Both USA and Israel hit civilian targets on purpose. Especially Israel who did it also in Lebanon.
Israels attacks on civilian infrastructure are not random or accidental either. They are the literal strategy and goal.
> I've seen frustration from the US side that Mojtaba Khamenei is MIA.
This is just US side being dumb, honestly.
> I don't believe you
The Trump admin has pretty low approval ratings. If some very hostile country bombed the US, is your default assumption that the folks who despise Trump would somehow support the bombing?
You could probably find a few crazies that would, but wouldn't you assume people would prioritize their hate towards the people blowing up their friends, family, and property?
> there's a famous Shia motto: "Every day is Ashura, every land is Karbala".
The shared cultural context is so low that as an American, I have absolutely no idea what this means. If I had to guess, "zealotry" or "patriotism"?
Great cultural-disconnect observation. It's more specific than that. Fighting for your survival against an unjust and immoral oppressor who wants to force you to do things you do not want.
“ For the US, the only pain is inflation”
That is not correct and the comment you replied to even pointed out several ways it hurt the US other than that
Inflation is the only Immediate pain. The other harms will play out over years.
While war games already predicted we’d run out of basically all defensive and offensive weapons almost immediately in a confrontation with China, that wasn’t demonstrated yet. Now it has been proven, but not even with China, with much smaller and less powerful Iran. We used a major portion of our stuff, it didn’t accomplish anything major, and now we’re already depleted like a paper tiger.
> While war games already predicted we’d run out of basically all defensive and offensive weapons almost immediately in a confrontation with China, that wasn’t demonstrated yet. Now it has been proven, but not even with China, with much smaller and less powerful Iran. We used a major portion of our stuff, it didn’t accomplish anything major, and now we’re already depleted like a paper tiger.
This is a positive, not a negative. It's a needed wake up call and better to get it now instead of during a war with China.
> For the US, the only pain is inflation, which is more a matter of political capital than anything tangible.
As others point out Iran had their own fair share of issues and there were protests but now they have a common enemy to fight. Most likely it keeps galvanizing people in the Middle East against US and then Americans wonder why people chant - Death to...But then again this shows average American has no clue about different cultures and the best analysis is - Iran is done, just like how Taliban was done right?
Besides inflation, American has other problems like running out of missiles and bombs. This war is about attrition, and American weapons are being attrited faster than Iranian ones.
The war is not over, but I would not count out the Iranians going for another strategic goal not mentioned in the GP post: make is so that the American president that attacked Iran loses the midterm big time.
> Besides inflation, American has other problems like running out of missiles and bombs. This war is about attrition, and American weapons are being attrited faster than Iranian ones.
The US doesn't need to fire more missiles, it just needs to blockade the strait and force Iran to cap its wells.
> The war is not over, but I would not count out the Iranians going for another strategic goal not mentioned in the GP post: make is so that the American president that attacked Iran loses the midterm big time.
I think Trump has already conceded the midterms. He's a lame duck president anyways so it's not his mess to clean up
Do not forget or ignore Trump "joking" about a third term. Things could get really messy towards the end of his second term.
I don't get why so many people ignore it. Does Trump look like the kind of guy who respects the constitution to you? Or more like the kind of guy who is trying to build an autocracy? Have you noticed what he does with officials that follow the law and their agency's mission, but not Trump's whims?
It doesn't matter who "wins" the war, it's already a strategic loss for the US, like every single conflict the US went into since ww2. If they can't just blow the problem away with bombs they invariably and inevitably fuck it up, and as it turns out you can't bomb away that many problems
> like every single conflict the US went into since ww2
Depends on how you connect conflicts to strategic aims. The US won the cold war. Could they have done so without all the military conflicts? Further, what's the best way to maintain a strong fighting force? By fighting. The US needs wars to maintain it's fighting muscle.
> The US won the cold war.
They won it so hard they're not even aware it's still going on...
If you're referring to China, that's a new cold war.
Russia can't even beat it's much smaller, much poorer neighbor in a full on war.
And yet Russia somehow managed to get a puppet in the White House so...
The puppet couldn't even get Ukraine to surrender so idk how effective that's been
Removing sanctions on Russian oil, destroying America's standing in the world, humiliating Zelensky in the White House, holding a summit with Putin in Alaska, discrediting the interference in US elections, etc., etc.
But you're probably right, an actual puppet wouldn't be so blatantly obvious about working for Putin.
Edit: I know you'll be surprised but the current administration still hasn't spent the $400M allocated for Ukraine![0]
[0]https://bsky.app/profile/atrupar.com/post/3mlo3hus2eg26
And if Iran drops or threatens just a single nuke, I doubt there will be left any arguments.
They don't have nukes or would've already done that.
No, they wouldn't, and they don't have it because they have chosen not to. There is something called an escalation ladder: you do not threaten to leave or kill your partner just because she spilled milk on your floor. That is the same reason Russia did not use nukes, and why other nuclear armed countries involved in conflicts have also avoided using them. The same logic applies here. Another example is that the US could bomb the Kharg island containing Iran's oil infrastructure, but that would be a major escalation. Iran would then have no reason to show restraint and could bomb the oil infrastructure of the Gulf states, creating a worldwide crisis.
US stopped bombing Iranian oil infrastructure when Iran responded by taking out a chunk of Qatar LNG infrastructure for a few years [0]. This example shows the escalation ladder and also proves that Iran does not need nukes for this conflict (so far at least....)
[0] https://www.cnbc.com/2026/03/19/iran-attack-qatar-lng-capaci...
Because Iran's gas fields were bombed the day before, FYI. https://apnews.com/article/iran-iraq-us-israel-trump-march-1...
There are far more dangerous countries with nuclear weapons than Iran (such as Israel). If Iran had nukes, we'd all be safer as Israel/US would be faced with MAD and would be unable to use nuclear weapons against Iran.
> For the US, the only pain is inflation
That and its trust and geopolitical influence even among allies being quickly eroded to the benefit of countries like China.
Inflation and ammo stockpiles are easier to fix.
> That and its trust and geopolitical influence even among allies
Yeah but all of that is orthogonal to the war itself. It's not like Trump needed to threaten to invade Greenland to go to war with Iran.
The US was not supposed to come out ahead. This is crony capitalism. Think about all the money Trump JR can make selling drones and all the VC companies benefiting from defense spending!
And all of the options / predictions market money being made by insiders who know the next episode in the soap opera before it happens.
It's actually very difficult to implement a change in our timeline on such a complex issue without causing a mix of positive and negative effects relative to your desired goal. It's very hard to impute whether anyone in the White House actually had a successful causal motive->plan->implementation->effect loop deliberately, but there are always high points, even of grotesque failure.
Obviously it's not NET positive, but if I had to highlight one positive for the US from their perspective, setting most of our guided munitions on fire overnight breaks the military, and the suspicion is that it breaks the military at a time when China is not quite yet prepared to invade Taiwan. It is now in a widely acknowledged catastrophic munitions stockpile crisis which Congress will have to fix via large, sustained investment; Increasing procurement rates for many systems by an order of magnitude on the low end. A year ago, and 10 years ago, and 25 years ago, it was in a severe munitions stockpile crisis according to everyone who's ever ran a wargame or tried to figure out deterrence policy for a non-nuclear shooting war
After the Cold War, we basically reduced most munitions stockpiles to a level consistent with a Desert Storm scale operation, but kept paying exorbitant amounts of money to keep defense contractors technically alive, producing a handful of units a year at costs that pay for the overhead of existing. In areas like naval procurement, the contradictions entailed by this approach combined with neoliberal austerity posturing and a lackadaisical response to delays, have combined to turn almost every major shipbuilding effort since the Cold War into an expensive failure. We are spending a remarkable amount of money on military equipment and probably getting 5% of what we would get if we spent twice that much and emphasized industrial performance rather than contractor sustainment.
A year ago, Congress and the Pentagon were carefully ignoring this for political reasons, while the MIC & foreign policy blob believes China was looking at it as an opportunity.
> It is now in a widely acknowledged catastrophic munitions stockpile crisis which Congress will have to fix via large, sustained investment;
How exactly is it positive to waste munition and thus force the congress to buy new munition? You will spend a huge amount of money to ... get where you was.
Printing munitions is not as long as scaling up production to print up munitions. Russian war showed that it will be too late to scale anything once the enemy trench in.
I think the idea is that now that it's a public issue, it will have to be addressed more than just bringing us back to pre-war levels.
Google searches for the epstein files went down significantly.
i dont understand why the hardliners are bad they were right. the war waged against them was threatened to be nuclear "an entire civilization will die tonight". the country threatening iran unjustly is indeed the great satan. no justification except for being egged on by our hyper aggressive expansionist apartheid proxy israel. we should pay reparations.
When the war is fought over literal nuclear weapons, you should not be so tongue-in-cheek about calling a war nuclear.
Iran has no nuclear weapons. The administration simply wishes to prevent Israel from facing opponents that also have a nuclear deterrent (Israel has nuclear landmines, briefcases, missiles, and neutron bombs according to Sy Hersh). A deterrent would radically curb Israeli aggression and maybe even end the genocide in Gaza. There is little risk Iran would use a nuclear weapon. This is pure western aggression.
Sy Hersh hasn't been credible for a long time. We know Israel has a variety of nuclear weapons, but don't trust anything Hersh asserts without credible independent support.
Agree with the rest of your point.
The Islamic Republic of Iran has boasted that they 'ended Persian culture/civilization'.
Probably going to juice EV sales is the only positive I'm taking away from this. Trump might end up being the person who tipped the balance and kills the ICE car.
(Once ICE cars fall below a certain percentage, they will have structural disadvantages to EVs because ICE engines are so expensive to design.)
When the position of the United States gets hurt, it means "liberals" get hurt - where "liberal" means anybody who might believe in lofty ideals like Constitutional rights or simply hasn't thrown in their lot with a hollow New York con man. I have tried and tried to steelman, but from everything I can tell this is really the only concrete policy mandate behind Trumpism. It's a societal death cult. Heaven's Gate didn't think they were killing themselves either.
I find it so interesting that you believe the Supreme Leader was a moderate. Also that somehow, the almost complete dismantling of the Iranian military resulted in Iran having more control over the straits of Hormuz. "The end of the US empire" so dramatic! fun stuff
Easy. There has been no "almost complete dismantling of the Iranian military" and anyone saying so is lying or deeply propagandized.
And all the videos are AI right?
How the US is ahead:
There is a ready list of American and European IRGC sympathizers. They would rather have the status quo of the Carter disaster than to give a green light to a no-RoE takeover of Iran.
Deny (or strip) them clearances, access to intelligence, and/or influence over defense policy.
Most people don't really give a fuck about Iran at all.
They do care about the cost of war and possible refugee tsunami though.
It's funny that Trump got elected on the premise of ending the "forever war" of America world police.
>I can't think of a single way in which the United States came out ahead in the war.
The stock market did, which is amazing if you're the top 10% of asset owners who own 50% of the country's wealth.
>except Russia by heaping sky rocketing energy costs on them
Russia doesn't benefit from this energy spike, since its biggest customers, China and India, have long term contracts that Russia can't just rip and renegotiate to charge spot prices, since they're in a pickle right now and depend on imports to keep the war going while not being able to sell to too many nations so they're stuck watching potential earnings go past them.
> Russia doesn't benefit from this energy spike,
No? https://foreignpolicy.com/2026/05/11/iran-war-russia-putin-t...
At this point I doubt anything could make stock market go down... It seems that there is no connection to anything but itself.
I feel the same.
Why does the market seem so disconnected from the general economy?
Did the stock market come out ahead? The Dow is about where it was when this started.
The Dow is not the stock market. Look at the total stock market (something like VTI).
That said, it seems that the stock market is doing well in spite of this war, and not because of it. Who knows how long that will last
They probably had a few stock owners in mind, which came ahead and keep coming ahead with strategically planned transactions placed right before another US major move - all by pure coincidence of course.
I'm sure you've at least heard what the United States' leaders have to say. To paraphrase Trump, "stopping nuclear proliferation to a group of lunatics that support terrorism". And also (still paraphrasing Trump), "the US doesn't need this as much as the rest of the world." So, perhaps this doesn't put the US ahead relative to other countries, but it puts them ahead of the counterfactual nuclear wasteland they could become.
Whether or not you believe the United States' leaders, whether or not you think there was a better way for them to achieve their goals (something something Obama deal) is up for debate. But it's very facetious to say you "can't think of a single way in which the United States came out ahead in the war," when the United States' leaders have been publicly announcing it for nearly a year.
> Whether or not you believe the United States' leaders, whether or not you think there was a better way for them to achieve their goals (something something Obama deal) is up for debate. But it's very facetious to say you "can't think of a single way in which the United States came out ahead in the war," when the United States' leaders have been publicly announcing it for nearly a year.
This comment doesn't make sense to me; if one doesn't agree with the US leaders then one can perfectly well say that one can't think of a single way in which the US has come out ahead. In fact that's just another way of saying that one doesn't agree with US leaders; there's no contradiction here.
The United States is simply an imaginary entity. Some people have been winning for quite a while.
The tidbid they're not talking about are the fact that wages are down .5%
https://www.cnbc.com/2026/05/12/cpi-inflation-april-2026-.ht...
Those are real wages. We would expect to see that during a sudden jump in inflation. Wages tend to lag inflation.
The other interesting part in that article is that excluding fuel and food still shows 2.8% inflation - only 1% attributable to food and fuel. Makes it seem like the main article and this article have different spins.
Edit: Wow people are jumping on this. The point is that food and fuel increases account for about 26% of the overall inflation number, meaning that the bulk of inflation is not related directly to fuel. The original article makes it it seem different.
I will say, this past inflation spike has completely broken the assumptions I had from 1970s economics that employers would raise their 'cost of living' raises to keep pace with inflation. My employer seems to think 2.5% is fine, as they've done it multiple years in recent past with only one extraordinary year netting 4%. I am now very skeptical of any so called 'wage price spiral'
That's why macro economic data is based on nationally reported data from tens of thousands employers rather than just one company.
We can look at the data and clearly see the inflection point where wages started rising faster once the pandemic began.
https://fred.stlouisfed.org/series/ECIWAG
And looking at real wages, we can see that wages have actually outpaced inflation since ~2015
https://fred.stlouisfed.org/series/LES1252881600Q
The driver of real wages is the economic level of the whole country, which moves at a pretty slow pace (if at all) for an advanced economy. Many jobs today pay around the same as they did 30 years ago, because dollars (currency) aren't a measure of true value, and lots if not most jobs produce the same relative value today as they did 30 years ago.
To put that more plainly, lower class, middle class, and upper class defining jobs pretty much stay the same.
Employers will increase your wages just enough to keep you from leaving.
With structural disincentives to leaving (medical coverage in the US), that is almost always a less-than-inflation amount.
Do employers even call it a COL increase any more? My employer "rebranded" the annual raises as "merit increases" many years ago.
Employers pay you the least amount of money it takes to keep you from working somewhere else. It's always been true and it probably always will be.
> I am now very skeptical of any so called 'wage price spiral'
The wage-price spiral now happens when people move. I've definitely noticed that average salaries for my role (data person) have increased singificantly since 2020 or so.
Nobody gives you cost of living increases. That's not how a market works. You get cost of LABOR increases. These are related but only indirectly.
Ah fuel and food - those classic unimportant things.
Fuel and food are excluded from core inflation not because they're unimportant (they are in fact incredibly important) but because they are much more volatile in price--going up and down in bigger increments--so that you get a more stable view of inflation by excluding them.
But it's a bit of a nasty trick because food, in particular, has inflated in price a lot the past 3 years. Some items, like sugar, are legitimately double the price they were.
> only 1% attributable to food and fuel
What do you mean by this? If adding food and fuel raises CPI by 1%, then the food and fuel prices have necessarily raised by _more_ than the combined 3.8%.
"What do you mean by this?"
Pretty simple - an overall increase of 1% inflation is attributed to food and fuel.
Umm okay so many other aspects of the cpi respond slower and this is a recent shock…
Food and fuel are more sensitive and respond first. There’s been no time for the effects to really get into the others.
And Food and fuel having huge jumps in inflation is major visible pain for consumers.
Yes, and that volatility is why economists exclude fuel and food from core CPI.
Except oil prices are predicted to remain over $100 for at least the rest of this year. It’s not a short term thing.
Depends on your definition of short term. Did oil prices drop after '08-'09 timeframe? A few years could be seen as short term in economic trends.
For most Americans (aka: not the top 5% like SWEs), food and fuel increases hurt a lot.
Most SWEs are not top 5%. The median is about $135/yr, and a significant portion of us make under that.
The point was that a 1% increase in inflation due to food and fuel wasnt the end of the world. Does a 1% cost of living increase hurt? Sure, for many people on the margin of making ends meet it can be bad. For most people, $1 more out of $100 is survivable.
Usually from what I have seen, most SWE's partners are also in tech or "white collar adjacent" making similar money. Which makes a household income of $270k, putting them in somewhere around the top ~7.5%.
I have seen some of that, but there is still plenty of non-tech partners, especially if the tech half is at a non-tech company. In my experience, the managers are the ones most likely to have a high earning spouse. It seems like most of the managers I know have a spouse making $100k+. I don't make as much as others, but I can't even imagine how good my life could be if my wife made the same amount as me so we had a combined income close to $200k.
It's also kind of wild to think that 1 out of 6 households in the US is making $200k+. I get that many of them are in higher cost of living areas where wages are higher, but still WTF. On the other hand, it's something like 1 out of 4 households are making under $50k. Makes me wonder how many of those are retirees vs working age, and what the median household income would be for 25-55yo vs the entire population.
> Makes me wonder how many of those are retirees vs working age, and what the median household income would be for 25-55yo vs the entire population.
https://dqydj.com/average-median-top-income-by-age-percentil...
> but I can't even imagine how good my life could be if my wife made the same amount as me so we had a combined income close to $200k.
Outside of a VHCOL, $200k mostly buys you peace of mind, if you live modestly. You get to build savings to be able to say F you to your employer and maybe take time off and spend a few thousand without worry if a family member needs medical attention.
Inside of a VHCOL, $200k merely helps you get a downpayment for a half decent home.
You do realize food and fuel didn’t just rise 1% on an annual basis? Right?
SWEs do feel the pain, too. Not everyone has a 200K+ gig. Especially for a big family.
I think you're misinterpreting that. Everything other than food and fuel went up 2.8%. Everything (including food and fuel) went up 3.8%. Therefore food and fuel went up more than 3.8%.
This. Energy is up 17.9% and energy commodities (oil, gas, etc.) 29.2%. See the CPI release: https://www.bls.gov/news.release/cpi.nr0.htm.
I think you're misinterpreting me. The overall inflation increase attributed to food and fuel increases is 1%.
I still don't think that's right.
You have food and fuel, which is some fraction of the economy - call that F. You have a rate of inflation in fuel and food - call that f. And you have a rate of inflation in everything else - call that e. Then you have
You also have e = 2.8.I think what you're claiming is that fF = 1.0, so that e(1-F) = 2.8. And I think that's wrong. When they say inflation apart from food and fuel is 2.8, they mean e, not e(1-F).
"With productivity rising at a brisk pace, the share of national income that goes to workers has sunk to its lowest point on record"
https://www.nytimes.com/2026/05/12/business/economy/cpi-infl...
BTW, the conflict is unlikely to resolve soon.
The US has literally never honored a deal with Iran. Iran has no reason to negotiate with the US. The US either has to back down, put boots on the ground, or sit and wait.
If the government survives, they had a quiet infrastructure investment from China they can activate to rebuild their damaged facilities.
China, and to a lesser extent Russia, will happily help Iran rebuild and rearm. This war has been a major strategic defeat for the US as it has burned through immense amounts high end munitions to destroy low value targets that can be replaced for a relative pittance.
On top of that the US is further isolated from its remaining allies. Being unable to win a war or even protect regional allies against a fourth rate power is an embarrasment for a current/former superpower.
But hey we did destroy the Iranian Navy! Sort of.
> The US has literally never honored a deal with Iran.
It'll be better now, they killed the dad/wife/son/etc. of their new leader, this will 100% make them eager to negociate in good terms
This is the story overall of strategic bombing campaigns. All they do is strengthen the resolve of the recipient country and rally people to the flag.
Before using the nuclear weapons on Japan, we literally firebombed every city in Japan BUT Hiroshima and Nagasaki. And arguably the only reason they surrendered when they did was because Russia was beginning a large scale invasion of their own.
People who call themselves "foreign policy experts" but advocate for regime change through bombing are not serious people, and the fact that we have treated them as such for so long is an indictment on our collective intelligence.
Iran has Trumps balls in a vice.
Trump took a high risk gamble, that he would destabilize Iran and the people would overthrow the remnants. That didn't happen, and now Iran gets to inflict severe pain on the US.
I myself am delighted though, because everyone needs to get the fuck off oil, even if it's economically painful for a few years.
Isn't it just Trump that doesn't honor deals?
What did Bush / Obama / Biden do?
Going all the way back to the hostage crisis, the US never really held up their end of the deal. We were also quietly making inroads with the revolutionary government of Iran and then secretly backed Saddam Hussein in the Iran-Iraq war in 1980.
But the elephant in the room is Trump and the JCPOA. We just backed out and gave them nothing in return for them holding up their side of the bargain. Furthermore, we made such an embarrassment out of the other signatories that such a deal amongst western powers will never happen again either.
I understand it is a complicated calculation but to me personally, inflation feels much more than that. I have been tracking the price of milk. Around 3 months ago, i was getting a gallon of milk at $2.97, then it went up to 3.07, then 3.25. Yesterday I paid 3.40. That's like 15% gain on something as basic as milk. All numbers from the same store.
One thing I have noted during this inflationary period is that individual stores/chains are gaming pricing much more than I remember before.
For example, your store might be competing for business using the headline price of eggs and making it up on milk and bread. In our city, Whole Foods was the cheapest non-warehouse place to buy eggs for a while. Anecdotally, it looks like one could save a relatively large % on various goods simply by going to a different store, which was not the case a few short years ago.
Relative pricing stability appears to have collapsed, shopping is more intellectually-intensive now.
You are right and we did shop around for a while to optimize for the best value for the price we were paying. We ended up on a store (Aldi, in this case) which overall had the cheapest basic groceries.
The problem with shopping at 5 stores to save money on groceries is that with gas prices you're probably not saving money, and if you're not moving around to various stores using any type of energy but kinetic, it is a large opportunity cost that could be spent doing other things, if you even have the time at all.
There is no way I could go shop at 5, or even 3 stores a week for food, I simply do not have the time. (Spouse and I both work full-time, 3 kids at 3 different ages going to 3 different schools every day, etc)
What I do is rotate through 4-5 stores but only go to one per week. I stock up on paper towels or whatever when I'm at the store that has the best prices on them, and so on for other goods.
I actually do know someone who regularly hits up multiple grocery stores every week chasing deals and that does seem crazy to me. The cost in gas and time doesn't at all seem worth it.
Because real inflation that people feel is always much worse than the actual number. No one cares if the TVs got cheaper but everyone cares if milk and eggs are more expensive. The average number will still tell you inflation isn’t that bad. Plus variations in local pricing can affect people much more. Dense cities will see a much higher inflation rate than rural areas.
Inflation itself is not a good metric as soon as you leave the avg.
You are on HN, the chance you are part of the american average is very low.
That 15% cost is not relevant if you don't drink milk. Its also a lot less if you are able to save money. That money saved might be for something very specific like one specific car or a house.
The house market, as far as i understand it, is more decoupled from inflation than not. Here in germany a farm costs still 600k and goes up and down based on location and other factors. My money in the bank doesn't has to be inflation neutral, it should be house market neutral for the money i only want to buy a house for.
You can also choose and change your buying power. Instead of the sports car x, you can buy y. Instead of buying the city center house, you can buy the farm outside.
Our household income is less than the US household median. So that price increase on milk does feel a bit more stingy than I'd like to be.
Why?
This is not US politics. Its global politics and it affects me as well. Independent of this, hn is not a platform the avg person is visiting. It requires a certain amount of high tech expertise to understand the conent of hn which statistically pushes the avg hn reader above the avg person.
You do know how much impact the USA has around the globe right? right?!
You are wildly overestimating your own self-worth with the "above the avg person" statement. hn is just a website. People browse and read whatever.
the context is it. it requires a certain amount of knowledge and skill. IT people earn above avg.
Its not far fetched.
hey just because I am not making above median/average income doesn't mean I don't have the tech expertise. And HN is not that tech intensive. A movie recommendation for you - Good will hunting.
If X goes up in price, then Y and Z will have increased demand, and end up also going up in price..
Just because you don't drink milk, doesn't mean that you'll be unaffected.
Yeah my large bag of whey protein (derived from milk) went up from $35 to $55. Same store and same brand.
The fed tracks this data: https://fred.stlouisfed.org/series/APU0000709112
A better source is the USDA AMS which surveys the prices of several different milk products in retail outlets in many cities. They do this not only for milk but many common foods. The data goes back decades.
Example report https://mymarketnews.ams.usda.gov/filerepo/sites/default/fil...
milk prices go up and down even outside inflation cycles. how do you know this is inflation. price of milk at your local grocery store in last 3 months is not enough data to attribute causation.
up and down 15% every 3 months? if that's the case then I take my comment back. I am not super aware of how milk pricing works.
This has serious "the climate changes naturally" energy.
it doesnt if you care to look for many instances in data where local milk prices didnt reflect broader inflation trends.
but you are more interested in making idiotic snarky comments and feel smug.
"My city got record snow therefore global warming is bogus"
offical inflation numbers are just LIE and wrongg for decades. Now you see it yourself. Via wrong numbers, they steal trillions
you’re not totally wrong but it’s not the outright lie you seem to imply. things like tweaks to the “standard basket” that they claim are in line with consumer preferences, which themselves changed because of inflation, for example, are one way we get a sort of hidden shrink flation.
Oh the reason it is a lie, of course, is not so much the number itself but the fact that it gets redefined, most recently with the purpose of a "robust updating". The new definition of inflation, of course, always seem to define inflation lower.
I seem to have read an article that states that by the 1980s measure inflation hit 15%. Other alternative measures go the same way, with the famous big mac index crossing 10%.
In Europe, they seem to do the same, but seem more fans of actually falsifying the underlying figures (like the LIBOR incident, which turned out to raise mortgage payment yet lower inflation)
Asian central banks (by which we mean China) do it yet another way. They simply declare inflation, 4 years ahead of time, to be a certain value. Then inflation is that value. Of course, last time "for some reason" the economic measures that made up the definition of inflation were suddenly declared state secrets.
Of course this may just be the banks moving at different speeds. Europe used to fix it's inflation problems by redefining what inflation was. They moved on to falsifying data. I guess that's just what's in the FED's future.
But it is a lie, all the basics are skyrocketing and all the useless tech gadgets are getting cheaper (or better, which counts as deflation for them). If food is 30% more expensive but cars/TVs are 0% more expensive but 10 times "better" you get an overall "3% inflation"
They adopted a new way to adjust inflation in 1990, and since then everything has been perfect lmao: https://www.shadowstats.com/imgs/sgs-cpi.gif?hl=ad&t=
I disagree and think GP poster is right on the money.
There are many ways in which inflation numbers are cooked; just one of them is the hedonic adjustment [1].
Others include an un-representative basket of goods.
The basket of goods is adjusted every 2 years, but not necessarily in a way that mirrors the way real households adapt their spending patterns to increased prices.
Owner equivalent rent (LOL) massively lags behind home prices.
Honestly, when 10s or hundreds of millions of people's perception does not match *Official Government Numbers*, then it's reason to suspect that the official numbers are a poor metric.
[1] https://www.bls.gov/cpi/quality-adjustment/
Inflation numbers are a scam, that's all, really.
They apply random multipliers to many products to account for "quality" and "performance", it completely skew the numbers and doesn't reflect the life of most people.
They even give you an example showing how the same car but with 3 more speeds, "smartphone integration" and "keyless entry" should be 3.6% inflation but actually counts as 0.6%
Same for computers, mobiles, etc.
https://www.bls.gov/cpi/quality-adjustment/vehicles.htm
https://www.bls.gov/cpi/factsheets/wireless-telephone-servic...
https://www.bls.gov/cpi/factsheets/personal-computers.htm
The decades long observation seems to hold gain: Reps were always near the oil-military complex and their main policy after elections always aims to offer them huge profits. An almost theatrical war with a puppet oil producing country achieves all goals. They don't care about people, environment or the world. It will last as long as their benefits outweigh their costs.
What I don’t understand is how the stock market can be so decoupled from reality. It’s a game at this point and completely disconnected from reality. Everything should be down 20%+ given oil is an input to everything and yet stocks are ATHing.
Lesson from 2021:
Stocks (naturally) price in inflation before inflation becomes headlines everywhere. People uncertain about the dollar trying to shelter their wealth from inflation will move to stocks to shield themselves.
Ok and a war that affects all inputs only tanks the market for a few weeks before ripping to an ATH? What’s the pricing on that?
When you are inject 3-5 trillion dollars into the economy over the span of months, it takes a while for reality to catch up.
idk, I read an analysis recently that retail investors in funds like the S&P500 are breaking how the stock market is "supposed" to work since people keep pumping the same money every month for retirement into the same 500 companies (or whatever an index is funding) without consequence to their actions, so they're never punished. Line goes up. The purchasing power of the masses outweighs the old brokerage class that decided which companies succeeded based on "real merits".
>keep pumping the same money every month for retirement into the same 500 companies (or whatever an index is funding) without consequence to their actions, so they're never punished.
When a buyer buys a stock, they are not giving money to the business.
Als, businesses get removed from the SP500 all the time:
https://www.bankrate.com/investing/s-p-500-stocks-list-of-ad...
Probably very true, very simplified.
The best strategy then would be to know when the retirement fund money stops doing this due to age pyramid collapse i would assume.
Aren’t we approximately there? The boomers are all starting to draw down for retirement.
On paper the US is good for another 20yrs, boomers had lots of children and the US had very generous immigration policies.
Agreed but there is definitely sector rotation still that all the banks / insiders can play for an extra few points
M2 is only up $1T in 7 months or am I missing something?
These problems are very small compared to mounting death toll from the climate disaster. We are very late in ramping down fossils production but a far greater badness will come if we keep postponing it.
this is core inflation no? it's interesting that it doesn't account for food and energy. so likely much higher in reality...
https://apnews.com/article/us-inflation-consumer-iran-war-3f...
Consumer Price Index (CPI) vs Core CPI
The above link is a little dumb because their own graph only goes up to March. But it looks like in March Core CPI was 2.6% while CPI was 3.3%.
Still, the details are in the text:
> Excluding volatile food and energy costs, so-called consumer core prices rose 0.4% last month from March and 2.8% from April 2025
"With productivity rising at a brisk pace, the share of national income that goes to workers has sunk to its lowest point on record"
https://www.nytimes.com/2026/05/12/business/economy/cpi-infl...
Frankly, it is a miracle that inflation is this low. Markets have not fully metabolized the impact from the closure of the Persian Gulf.
I keep thinking this but... line keep going up.
I've seen reporting that energy prices won't return to pre-war levels this calendar year, even assuming an immediate return to the status quo basically right now (which seems unlikely).
I find the whole thing really confusing. The facts I can see with my own eyes suggest high inflation and this surely means no substantial rate cuts (which... the market has expected) if not reduced consumer spending and risk of recessions.
But the markets think everything is... fine? So... what are we missing here?
We probably aren't missing anything. It just can't happen right now because if the stock market capitulates then it does so for years and everyone loses a bunch of money. Their only option is to hope for some kind of end or bailout or whatever that keeps getting further away, and they've pushed that hope way past reason.
> But the markets think everything is... fine? So... what are we missing here?
The current rally is extremely narrow, mostly just AI/Big Tech and chip stocks. But yeah, the "market" appears to believe that this will all be over soon, which seems unlikely to me.
I should invest a non-trivial amount. That usually results in markets trending down.
> what are we missing here?
Markets is just gambling but the gamblers wear suits and pretend things are respectable.
It doesn't need to make sense, line just needs to go up. It works until it doesn't.
> But the markets think everything is... fine? So... what are we missing here?
You are missing that the current governance is very ready to print money to bailout any situation. The market can go down in nominal value but still up in dollar's.
Well yeah, remember how long covid QE took to manifest? "Biden inflation".
Here on HN, I can't image this being interpreted as anything but a good thing.
Petro prices up - oil companies make more money
Interest rates up - banks make more money
Win Win! What could possibly be the problem?
If you're one of the little people paying for it all, you should be Proud™ to fulfill your role of enriching ownership...
energy pricing is complex. some food for thought:
if everyone believes the straight of hormuz is open, even if it is not, even if 20% less oil is being moved globally, what happens to oil prices? what happens to oil deliveries?
is it possible for oil to be cheap in America while Bangladesh experiences shortages, instead of everyone paying more?
is oil the same as energy? or is it more relevant to transportation?
does it matter? suburban life is quite comfortable, a LOT of people keep choosing big single family home with yard, drive everywhere. driving everywhere is VERY comfortable. a lot of people like it. are they willing to pay more for it? does buying a house that is MUCH cheaper by virtue of being far away from a city stop making sense for 250m americans just because gas is 50% more expensive?
I assume this is a rhetorical question. The Strait is a global shipping channel; a lot of basic commodities flow through it. Not just oil. Fertilizer, grain, basic chemicals are dependent on the channel being open. Today, the WFP was stating that food aid to Somalia has been delayed by 1+ month because of the war.
> is it possible for oil to be cheap in America while Bangladesh experiences shortages, instead of everyone paying more?
Yes. Bigger national and state stockpiles because the US can afford it, and many companies within the US can afford to pay for better futures contracts with suppliers that guarantee a future price in exchange for upfront payment that many poorer countries can’t afford because they have more immediate needs.
Energy pricing is quite easy: We have a global market, the rich people win.
The USA is responsible for this horrendes situation, the USA people will not be the people struggling and dying.
Its the poor people in every country around the globe which literaly will die, while the rich countries will just continue doing whatever they were doing.
Holidays, traveling to visit famiily and friends. It will cost more for sure but you will still do it.
The poor can't afford the food anymore because cooking becomes more expensive. going to your daily job becomes more expensive. The likelyhood of people is getting destroyed beecause the small jobs, the niche jobs are suddenly uprooted. Like the small tuktuk or the cheap and dangerous bus for 6 people is too expensive suddenly.
I wonder how many Americans realize that their soft power is dead. Will it cost them?
I have read so many arguments on this site that soft power in fact, apparently does not exist. So, you can't lose what didn't exist in the first place. So I guess a special military operation or two is no problem, according to them.
The average family spends something like $5,000 on gas a year, maybe $10k. Gas could double and it’d be felt, but it’s still just a portion of total spend.
We’ve had $4 gas before (20 years ago?!) and it was annoying but it didn’t end the world.
The perspective from over here in HN land is very skewed.
According to the US Census, median household income in 2024 was $80,000. Add federal and state income tax* of 30%, and you're left with $56,000. Rent in lower-cost areas is around $12,000 ($1k/mo.) and health insurance (assuming ACA, not fancy private plans) is another $7000. Utility prices vary wildly but average something like $450-500 (so $6000 per year). if you don't live in a particularly high-cost area and skip luxuries like home Internet service or media subscriptions.
That's just over $30,000 left over per year for all household expenses, including "luxuries" like food, clothes, and car and home maintenance. Heaven forbid you have loans (car, student, etc.) or any revolving credit debt.
The difference between $5k and $10k in fuel costs is therefore easily 15% vs. 35% of total "inessential" spending. With food and other goods consistently been driven up by inflation and tariffs, there's just no margin for an "average" family.
(Sources vary for the above; US Census comes data from its own website, rent from TIME, health costs from Forbes, and utilities from move.org. Feel free to find better reference numbers if you doubt the above.)
*- yes, not all states charge income tax; most of the ones that don't have other taxes (sales, gas, property) to make up the gap
Speaking of HN-land assumptions lol - if you think a median family making $80k is paying $30k in taxes you got another think on backorder.
In fact, at $80k in some areas you'll qualify for medicaid for the family (or at least the kids) - up to $108k in CA for example: https://www.coveredca.com/pdfs/FPL-chart.pdf
The clanker says that "median family with kids" makes $105k and pays total tax (including property, sales, income, etc, etc) of about $23k.
> The average family spends something like $5,000 on gas a year, maybe $10k.
Half of that.
https://www.fool.com/money/research/gas-prices/
You're forgetting the downstream effects of high gas prices though
i don't own a car, i bike everywhere with young kids. i like public transport. we're not talking about that. people fucking LOVE cars. they LOVE single family homes. everywhere, in every community.
You're mistaking cause and effect. We're beholden to corporate interests that abuse the commons for maximum profitability. Single-family homes and cars are only 100 years old in our tens of thousands of years history as humans.
I would LOVE to not have to have a car. I would LOVE to live in a multi-generational home or local community with nearby third places.
> is it possible for oil to be cheap in America while Bangladesh experiences shortages, instead of everyone paying more?
I think the US has been ramping up domestic oil production for a while, creating an interesting situation where (global) prices are high but (domestic) supply is healthy. Prices are up at the pump in the US, but I'm not sure how much of that OPEC+ price-fixing or "risk premium".
In 2015, the US lifted its ban on exporting domestic oil. Since then, US domestic pricing has been linked to the global price.
This means that "domestic production" does not mean what you imply (which is "domestic production that must be sold in the US.") If US producers can make more money selling 100% of domestic production overseas, they will do that.
This is not price-fixing, it is the predictable outcome of a market design where US drivers bid against Asian airlines for petroleum products.
Oil is fungible. Oil producers are going to sell it to whoever pays the most. There is no law that says US oil producers have to sell it to US customers. Having domestic supply does nothing to insulate US consumers from higher prices.
i live in the suburbs and gas could 2x, 3x in price and my wallet wouldn't notice. i fill up a couple times a month.
Many products are shipped half way across the US on semi trucks, that hits everyone’s pockets even if you drive an EV.
Train’s move around vast amounts of freight but they got optimized for coat per ton for coal, wheat, etc not latency. Which then plays havoc if you try and do just in time manufacturing etc using them. Airfare and thus airfreight is simply dominated by fuel costs which hits many industries in ways that are less obvious but still expensive.
I live in a major shipping center in a state with a lot of agriculture.
I think that's why my grocery prices haven't gone nuts. For instance, I buy whole chickens (local-grown, free-range) for 99c/lb regularly.
Looking at my receipts, I spend a few hundred/week at this $KROGER. And that includes buying alcohol and non-food items like charcoal, cat litter, diapers, cleaning supplies.
I think it’s less shocking because we’ve seen several years of increased inflation. I’m frankly used to prices being noticeably higher every year where the COVID spike was being compared to 2000-2020. So sure Trump’s been consistently bad for the economy over both his terms, but wow it just doesn’t hit as hard as a pandemic.
The transaction costs of selling the median home is like $40k. Buys a lot of gas.
Not to mention that I'd still want a car in the city. Half a decade ago I paid more for parking in the city than I do for gas in the burbs.
How often do you buy groceries? How are groceries transited over to your local store?
I buy groceries 5-7 times a week. I buy things pretty by-need, for the next thing I'm cooking.
I can walk to my local $KROGER or drive 1min (which I do when I'm buying more than I want to carry.)
I assume they get to the store the same way they get to the stores in the cities. On trucks. A lot of what I buy (meat and produce) is grown in the state I live in. So I can make a 6-serving chicken and orzo dish for under $15 easily, for instance. I got it down to $10 when the meat is BOGO too.
I've always rolled my eyes at inflation because clearly, it's worse than the basket of goods they use to monitor. Groceries probably get incentives to keep bread, eggs, etc. prices somewhat regulated so the inflation number is muted. https://en.wikipedia.org/wiki/Goodhart%27s_law
Many of the inputs (farms, oil) are heavily subsidized already. Meat, milk, etc. but I'm sure they account for that in some way.
The mental gymnastics Trump supporters must go through to justify blaming Biden for gas prices during his term but blaming everyone but Trump for gas prices now.
Not in the US but I'll go out on a limb and guess that gas stations aren't being littered with 'I Did That!" Trump stickers.
"…guess that gas stations aren't being littered with 'I Did That!" Trump stickers."
But they are, ha ha.
A completely unnecessary war that benefits no one other than Israel and harms the rest of the world. The only positive to come from this is the annihilation of US military assets in the Middle East and an even deeper unity of the world against Zionism. It’s tough times but we will ultimately defeat this heinous ideology.
>benefits no one
isn't correct. There are plenty of people on HN working in military contract industries, high tech arms manufacturing and such. They lobby Gov and benefit financially as do their employees.
Ok, benefits no one other than Israel AND American warlords.
Only certain types of contractors, and likely only in the short term.
Military contractors do well when the military has widespread support from the voters. Congresscritters will happily approve tax dollars going to the military industrial complex when their constituents view the US as the global protector of democracy. Wars like this one that aren't popular and make us look like thugs open the floor up to anti-military candidates. So yeah, the companies building missiles do well while the war is on, but the people like me who automate military fuel farms see budget cuts and projects cancelled.
I wonder if it does benefit arms R&D folks. At least, as someone not too well informed on the military stuff, it looks like the moral of the story has been that our high-end stuff hasn’t functioned as well as the price tag lead us to expect, and a bunch of cheap drones might be the way to go.
If I worked in military R&D I’d be worried that focus might shift away from the more speculative/less delivery-oriented/fun to work on products…
I could see this happening if the point of the arms industry was defense and not a jobs program.
Domestically maybe, but international buyers aren't giving billions to American arms manufacturers to prop up American jobs.
The mayor's rock-throwing spree is doing wonders for growth in the town's window repair sector!
Russia is also benefiting. China less so, but it gives them advantage in their competition with west.
China is going to be selling solar panels and EVs at triple the previously projected rate after this crisis.
There was a time when USA guaranteed the safe passage of shipping, which helped secure a peaceful world order, apparently. I view this as a continuation of that legacy, but admit I only have 1-2 books supporting this view.
How is closing the strait a continuation of a legacy of guaranteed safe passage?
I wasn't aware USA closed the stait
Soooo just to be clear here with your argument:
The USA was doing something to guarantee that stuff can flow through it, then they start a war, now they can no longer guarantee this?
Did they suddenly loose the power to protect this flow?
Just because USA is war mongering, doesn't mean no one else would have stepped up or that it wouldn't be better without all of this involvment.
Everything I said was true : Bretton woods exists, and my opinion flows from that. Feel free to disregard it or correct the facts, I think that'd be a good discussion.
And yeah, USA might do dumb things that put them into a bind, but ultimately the peaceful flow of traffic through Hormuz is a goal worth pursuing for the world economic health.
I'm happy to endulge in a good discussion. My argument is not that deep for sure, but you are only referencing Bretton woods.
The problem with US petro dollar is always the same: we don't know what would have been if it wouldn't exist.
But my main point was very specific to the strait of hormuz and how it was flowing without the help of the USA, now stoped because of the influnece of the USA and how the USA can't restart it.
So your point is not valid for the current state of the strait of hormuz.
You are also moving the goal post now as you state that the peaceful flow of traffic is worth it. Of course it is but now we have to do it and its not the USA helping some other country to fix their problem, in this case every other country needs to do something to fix US Americas problem they created.
USA also got very rich and powerful thanks to the petro dollar, which now shifts to China and now China is benefiting from this. This system was never fair though.
Playing devils advocate, the results are not always intended. I think the intent was to secure the area / prevent a state from becoming hegemonic, esp a state which has proven to be prone to harassing shipping and allies in the area (to say the last), as well as a state which is directly aiding an invasion of Europe/former USSR independent states.
So, circling back to my original comment, the Iran war is in line with the principles of keeping peaceful free trade safe (perhaps only for "us"), but alas, as you say, free trade has paused while we try to do that.
That's it. I dont think that's a hugely controversial statement or obviously false.
This is some extraordinary up-is-down construction. Hormuz was open in February, and for decades preceding that. It's closed now. How is this situation the result of the "guarantee of safe passage of shipping", exactly?
1) Iran has been naughty v. shipping for a long time, directly and indirectly
2) Iran has been naughty v. USA's allies for a long time, directly and indirectly
3) Iran has been naughty v. USA itself for a long time, directly and indirectly
So, in the interested of stable trade through Hormuz, someone decided to push Iran out. The intent was not to close the strait. The effect was to create a situation unsafe for trade, which is ironic and comical, but it's not the intent.
So, since principles determine intent, I think I was not being contradictory.
Well unlike when he and Jerome Powell unleashed the money printer on us in 2020 and it took most of Biden's term to tame inflation, this should last as long as the Iran war. Unless there's a permanent shift in the strait or sticky consumer prices overcome the efficient market.
now imagine this going on through January 2029 if Dems don't win the Senate too
because it took YEARS for Obama's team to get them to sign something
and he's already used up half of US war stockpiles
Iran's dictators will eat and sleep just fine for years while their people starve and get bombed to death
click on YTD here and imagine that flat-line for YEARS
https://en.macromicro.me/charts/94482/imf-strait-of-hormuz-n...
I would imagine that other powers of the world would support some kind of invasion if the strait were to remain closed for a long period of time
They might support it in spirit, but an actual invasion of the US would be pretty difficult to pull off.
I can see sanctions though, maybe a re-shuffling of alliances where China becomes the world's default Adult In The Room.
They will just pay the toll.
It's possible, in the short term, but eventually the only oil flowing thru the Strait of Hormuz will be Iranian oil, and perhaps not even that. Give countries enough time and they'll rather invest in building a way around Iran than giving them money for passage thru international waters.
The toll will be just a bit under what it would cost to divert the supply.
Or they finally tell Trump to fuck off as he as no tariff leverage any more as their economies are cooked anyway?
It is funny watching economies like Japan -- where their new prime minister was fluffing Trump like crazy -- get fully screwed.
Given what has happened, I don't think Iran's dictators are going to be sleeping just fine for a while.
They have more dictators in store it seems.
"US inflation jumps to 3.8% as energy costs surge from Iran war"
and all of this to support apartheid in israel.
Should have been jumps BY 3.8%
No, it’s saying inflation increased from 3.3% to 3.8%, the article is correct.
Jumps by 15%!
Congress needs to be forbidden from ever raise debt ceiling again. When they run out of money, the first they have to cut is their own wages, then the wages of federal staffers that serve them, then their healthcare, their benefits, everything that serves THEM gets cut first.