Total Nightmare - Joe Blogs

[TexasTowelie]

The war in Iran is entering a dangerous new phase, and the global economy is starting to feel the impact.

Over the last 24 hours we’ve seen further attacks in the Strait of Hormuz, including ships being struck and new concerns about naval mines that could keep the world’s most important oil shipping lane effectively closed.

But the disruption is no longer limited to shipping.

Across the Middle East, oil production is being cut as attacks continue on infrastructure and energy facilities, forcing major producers such as Iraq, Saudi Arabia, the UAE and Kuwait to scale back output. Millions of barrels per day have already been removed from global supply, raising concerns about a prolonged energy shock.

At the same time, the economics of this war are becoming increasingly clear.

Iran is using relatively cheap drones and asymmetric tactics to disrupt shipping, infrastructure and regional stability, while the United States is being forced to deploy extremely expensive missile systems to intercept those threats. In the first two days alone, the US reportedly used $5.6 billion worth of missiles, and further funding of up to $50 billion may be required to sustain military operations.

This raises an important question:

Is the Iran conflict becoming an asymmetric nightmare for the United States and the global economy?

In this video I look at the latest developments in the Strait of Hormuz, the growing disruption to Middle Eastern oil production, and why this conflict could have far-reaching consequences for global energy markets.

[ChicagoTeamster]

1. If they need more money for just the war, then they need to also add back all of the medicare and medicaid funding

And restore funds to social security and restore the Obamacare subsidies. If that's too expensive then undo the tax cuts for the rich and corporations.

If they can't undo the tax cuts then just pull out of the Iran war. We helped Israel this far, they can finish their war if they want to.

By the way, How much has Israel spent so far on this war? How much munitions have they expended? How are they paying for it? They have their own defense budget and defense industry and the United States has been giving about $3.8 billion each to Egypt and Israel since the end of the Yom Kippur war.