Wow! That was awful. Was Trump sedated? His monotone, delusional delivery reminded me of the character Dustin Hoffman played in Rainman . Trump plowed no new territory. Instead, he provided a Reader’s Digest summary of his recent Truth Social posts… i.e., Iran is defeated, the Iranian Navy and Air Force are destroyed, victory is ours, but we’re going to bomb the hell out of them over the next three weeks.
I am pretty sure that some on Wall Street will continue to delude themselves with the belief that this war is nearing an end and, once Trump declares the final victory in three weeks that he will order US troops to come home and the war will be over. Not a chance. During the next three weeks, Iran will continue to degrade and demolish the US bases and equipment that is in Saudi Arabia, Kuwait, Bahrain and the United Arab Emirates. As long as Qatar does not allow combat aircraft to take off from Al Udeid, Iran will ignore it.
Prior to his speech, the market for oil futures had dropped significantly, with both WTI and BRENT falling below 100. After his speech, both surged back above 100, increasing 3.5% and 4.4% respectively. Trump’s speech failed to reassure the oil markets that the war would end anytime soon.
Trump did not back down from his previous threat to attack Iran’s power grid. If he does that, along with Israel, Iran will turn off the lights in Israel, Saudi Arabia, the UAE, Bahrain and Kuwait. Iran’s ability to do this is a direct consequence of the depletion of the US air defense systems — i.e., the Patriot missile batteries and the THAAD. Iran also will retain its choke hold on the Strait of Hormuz — even if the US decides to put troops on Kharg Island or some other piece of Iranian territory.
Although the Saudis and the Emiraties are threatening to join the US and Israel by declaring war on Iran, both countries will face devastating economic pressures in the coming weeks… Especially the UAE. Dubai, once a glittering city filled with wealthy ex-pats and hookers, has become a ghost town. Its economy is frozen and shows no signs of thawing anytime soon.
Mario Nawfal interviewed Doug MacGregor and me today back-to-back: Danny Davis and I discussed the obstacles and risks facing US troops if Trump decides to try to take Iranian territory in the Persian Gulf: Cyrus Janssen interviewed me on Monday and posted the video today: --- I thank you for your invaluable support by taking time to read or comment. I do not charge a subscription fee nor do I accept advertising. I want the content to be accessible to everyone interested in the issues I am discussing. However, if you wish to make a donation, please see this link .