When interest rates go up, that can presage a later stock market decline and/or economic recession. People can get hurt.
Six months ago, I posted this item expressing concerns about the war in Iran. Unfortunately, it was a bonehead move on Trump’s part that has caused inflation to worsen spurring the Federal Reserve to hike the federal funds rate today. It also has markedly harmed Republicans’ prospects for retaining control of Congress.
You don’t go to war unless you have clear public support for justifiable military action; and unless you are willing and able to do what is needed to prevail. Neither of these conditions were present when this particular war was started.
I won’t attempt to list here all the other complications that arose from this particular war. The economic impact is but one dimension.
What a mess he created! While Trump has done many good things, sometimes an egregiously atrocious decision can change the perceptions of the general public in a heartbeat.
That “Biblical Christianity” doesn’t shine through in your nonchalance about all the murdered and maimed innocent people in a war started for no justifiable cause, beyond being Israel’s bitch. Iran on the opposite side of the globe from us posed less than zero threat to Americans. Even the CIA said so! There is no justification for the dishonorable sucker-punch way (during negotiations!) Trump/Bibi started the war. Killing all the leaders and their families.
Furthermore, US tax $s paying for the murder of tens of thousands of CHILDREN in Gaza [both Biden and Trump] and Lebanon is enraging.
You talk about a rabid war criminal who should burn in hell as if he’s just a less than perfect politician. You accept evil casually. That’s Christian?
No, J. Sobran, I think what he did in Iran was a terrible mistake that has caused serious consequences of various kinds, some of which you mention. There is also the concern about energy and perhaps food being priced out of the reach of many people due to relative shortage– yes, here, but even worse overseas– that already has caused largely unreported unrest in some countries. That has the potential to kill people also.
As I noted in the post, when you go to war, it needs to be justified and supported by the general public. War necessarily entails killing. It is sometimes justifiable, but that case could not be made in this instance. Israel and its megadonor supporters carried the day when decisions were made.
I am also concerned about the influence of Trump’s son-in-law, Jared Kushner, but that is another matter.
Until Trump our policy on Iran consisted of God awful misadventures ;
Obama attempted to pacify the Mullahs with a truck load of US dollars . Now that was truly a bonehead move.
Biden was even worse. For four years his administration had no discernable policy on Iran and its nuclear program. And not having a policy couldn’t have come such a bad time . It was a hapless awful period—SNAFU.
After deep thought I have concluded that the best policy that the US should have on Iran is this:
https://www.youtube.com/watch?v=PsLh2LPRPAA
I agree, Fred, that Obama’s payola was a bonehead move. I would have preferred disengagement from the region.
In the 1970s, Iran paid the U.S. about $400 million for military equipment under a pre‑revolution Foreign Military Sales program.
After the 1979 Iranian Revolution, the U.S. never delivered the equipment and froze Iranian assets. Iran sued the U.S. in the Iran–U.S. Claims Tribunal (The Hague).
By 2016, interest on that frozen $400 million had grown to roughly $1.3 billion.
The Obama administration settled the case for a total of $1.7 billion — returning Iran’s principal + interest. It was Iran’s money! One of the few good things Obama did.
I don’t know, J. Sobran. Withholding it as a penalty seemed justified for their waging war against us at least twice– with the 1979 hostage incident, and also during the war in Iraq. They killed many US servicemen. While we can debate the worthiness of the war in Iraq, they chose to wage war against us.
I don’t think that justifies the current war given the amount of time that has elapsed. But an argument could be made for having withheld that money as a penalty because of the acts of war they previously committed against us.
The US imposed the dictator, “the Shah”, on Iran. They had no reason to be mad? The US helped Saddam Hussein use chemical weapons on Iran previous to invading Iraq. What would you expect them to do, turn the other cheek? The US started the bitterness with Iran has been more consistently the aggressor. Not saying the Persians are sweethearts, but only that they have responded as we would have to wrongs.
But the withholding of the money was the equivalent of sanction, J. Sobran, that was justified based on what the Iranians had done. The issue of whether sanctions truly work is a separate matter. Were they aggrieved against us? Yes. Has their situation improved since they deposed the Shah? Probably not.