I think any press person who watched President Trump’s Iran cheer-up session speech on truth serum would have to concede that this was a speech he shouldn’t have given. He meandered. He looked bad and worn out. He had the requisite moments when his degenerate inner monologue creeps into the open: he said that free passage through the Strait of Hormuz is something for importer countries in Asia to deal with, that they should “grab and cherish” the Strait, as though it were some underage beauty pageant contestant Trump was hungering to assault. What is important is that in political and public opinion terms, there was nothing new or newsworthy in this speech. They didn’t even manage to accomplish this in the narrow and cynical sense of saying anything new that could be a fresh point of public discussion. It was a rambling set of unconvincing excuses no one with any real concern or anxiety about this war (the only real audience) would find convincing. Why are you complaining, he asks? This war hasn’t gone on nearly as long as World War II! LOL.
Market watchers will note that the White House is now solidifying around the idea that free passage through the Strait of Hormuz is something importer countries will have to deal with, that it’s not America’s problem. That means that the economic fallout of the war will continue unabated. This is simply rebranding a massive strategic defeat as some kind of America First swagger. Of course, oil markets are global. It doesn’t really matter if the US makes as much oil as it consumes. That’s not how prices work.
