- The history is replete with instances of how the erstwhile presidents of the United States of America have burnt their hands while waging battle which was not theirs to begin with in the first place. Look not far from Vietnam, Iraq, Afghanistan, and now Iran. Obviously, Washington hasn’t learned any lessons from the previous adventures but keeps committing mistakes that only further exacerbate the economic downturn around the globe. The latest conflict perpetrated by the USA-Israel duo on Iran has had a telling effect on the economic scenario around the world, simply because of the widespread disruptions in the crucial energy supplies from the Middle East/West Asia. The whole world is already experiencing the inflationary trends perpetrated by the move.
PC: The Atlantic
- Looking back, Donald Trump must have thought the pounding of Iran would be concluded within a span of a couple of weeks at the most. However, Trump discounted the fact that Iran has been quite experienced by now in facing the sanctions for several decades and has resiliently found a way to overcome the challenges thrown at it like a seasoned campaigner. Despite months of raging battle in the region, Washington/Tel Aviv has spectacularly failed not only to subdue Tehran as originally envisaged but also to look at an honorable exit from the conundrum, even if it entails claiming a non-existent victory. Flip-flops on the ceasefire and peace talks have only further compounded the misery of the global community since nothing concrete has emerged so far.
PC: Yahoo Finance
- Consequently, inflationary trends are visible everywhere, including the USA. And what does Trump have to say about the self-goal? Says he loves inflation. Really? Does that mean the Iran war will drag on and on? On June 11, Trump tweeted, “The United States has VERY LOW INFLATION, a beautiful thing!” But that was 2019, when X was still Twitter. Now, exactly seven years later, he has a different take: “I love the inflation.” In Buenos Aires, 8400km south of Washington, DC, his pal Javier Milei might be scratching his head in disbelief. He’s got Argentina’s annual inflation down to 32%, from 200% before his election, with punishing austerity. What’s he to do, reverse course? Trump’s one voters must be digging for his poll warranty.
PC: The Hill
- They’re pretty sure he wrote, “INFLATION IS A DISASTER!”, on Sept 26, 2024, and “With your vote in this election, I WILL END INFLATION,” a month later. In fact, he was an inflation hawk even 15 years ago. There’s his tweet from Sept 30, 2011: “The Fed’s reckless policies of low interest and flooding the market with dollars needs (sic) to be stopped or we will face record inflation.” Why has he gone rogue? Because Trump never sings mea culpa. Howsoever he messes up – tariffs, Hormuz – the result is genius. He’s become irresponsible, incorrigible, and unrepentant of late. Of course, oil prices and inflation will fall after the war is over, but who knows when that might be. We’ve got to live with a sinking feeling of rising prices and slowing growth. What a mess.
