Monday, March 09, 2026

It Occurred To Me…

... to connect this… ... with this. Well, and this: Iran’s best response was to merely threaten the Straits of Hormuz; the insurance companies did the rest. Nothing can protect the tankers except the end of belligerence. The economic pressure is going to be immediate and intense; and Russian oil will hardly make up the difference.

Public pressure will follow, but the price of oil affects the price of everything, not just gasoline. Which means it will drive inflation, and the Fed can’t fix that by lowering interest rates. 

So what’s the connection? I suspect Trump is being pushed closer to declaring victory and scampering off. “Short term oil prices … will drop rapidly when the destruction of the Iran nuclear threat is over”? What the hell does that mean? An empty phrase that Trump thinks sounds like a plan? Could be. Very likely, really. But he announced the “obliteration” of Iran’s “nuclear threat” last summer. After a bomb run. And now Hegseth tells “60 Minutes” that we are switching to conventional bombs. The stockpile of “smart bombs” is probably; almost certainly) diminishing, and it’s time for less discriminate destruction. Why not claim some bombs somewhere did the job? And declare Iran’s nuclear capability “obliterated” again? Before the stockpile is further diminished? (He doesn’t care about the death and destruction, except to revel in it before he gets bored again.)

BTW: Trump says he won’t sign any laws until the SAVE act moves to his desk. Has anyone told him about the Presentment clause?
If any Bill shall not be returned by the President within ten Days (Sundays excepted) after it shall have been presented to him, the Same shall be a Law, in like Manner as if he had signed it, unless the Congress by their Adjournment prevent its Return, in which Case it shall not be a Law.
Art. I, sec. 7, cl. 2

All Trump did was threaten to hold his breath until his face turned blue if he didn’t get a pony.

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