The War Hawks’ Predictions Have Aged Like Milk

When Donald Trump launched the Iran War on February 28, the usual suspects were in full support. From the moment the conflict ignited, many couldn’t help but immediately express admiration for the president, saying that only a brave, noble, and strong leader would’ve had the courage to do what Trump did here. For weeks, we heard that this war was essential, that we would be better off as a result, and that to be unsupportive was to be siding with the IRGC.

As weeks went by, however, it became apparent that the rosy picture that had been painted in the war’s infancy was not based in reality. One month turned into two, and then three, and here we are now about six months later, with none of the war’s stated objectives having been achieved. Because of the historic nature of this defeat, it is important to reflect on how we got here.

Who were the voices cheering the administration on as it led us down this dark path?

Why did they have such hatred for those of us who opposed the war?

Most importantly, who can’t we trust going forward?

Ben Shapiro

Among the war’s top early cheerleaders was Ben Shapiro. From the first moments of the conflict, Shapiro was praising Donald Trump’s decision to launch the war.

“President Trump is the most courageous commander-in-chief in modern American history,” Shapiro excitedly said. “What he just did is the bravest move by a president of the United States of my lifetime, bar none, without a doubt.”

Shapiro also immediately made it his mission to smear the war’s critics. Doing his best play on David Frum’s 2003 article “Unpatriotic Conservatives,” Shapiro began labeling some of the most prominent anti-war voices – including libertarian Dave Smith – “America-haters.” In a March 4 episode of “The Ben Shapiro Show,” Shapiro makes some very bold – and uninformed – predictions for how the war would play out.

Addressing concerns early on in the war about U.S. munition stockpiles, Shapiro urged his audience to ignore the naysayers, and rest assured that “ we do have significant stockpiles.” To build on his narrative, he claimed that the Iranian’s were “running out of missile launchers.” “This is a major problem for them,” he emphasized.

“The status is pretty good,” Shapiro told his podcast listeners, “things are moving pretty well.”

Shapiro’s blind faith in the government narrative was not enough to will the U.S. to victory, however. His uncritical rereading of Trump’s Truth Social post – in which he claims that we have a “virtually unlimited supply” of munitions – may have convinced his audience to get on board with the war, but this trust in the administration eventually crashed against the rocks of reality.

The U.S. does not have “unlimited” munitions. The Iranian’s ability to launch missiles has not been effectively degraded. This war has not gone as the administration intended, and the biggest proof of this is the conflict’s length. The war was originally sold as a weeks-long offensive, but it turned out to be a drastically larger undertaking than the White House anticipated, and one that has engulfed the Trump presidency.

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Bessent Suggests Economic Warfare Against Iran Could ‘Blow Up the Global Financial System’

With the United States unable to militarily defeat Iran in President Donald Trump’s illegal US-Israeli war of choice, Treasury Secretary Scott Bessent on Monday escalated the administration’s economic attacks on Tehran, warning countries and companies around the world that continuing to do business with the nation could expose them to punitive sanctions.

“Let there be no ambiguity as to the position of the United States,” Bessent said during a news conference unveiling what the Trump administration is calling Operation Economic Outcast. “An economic engagement of any kind with this murderous regime will expose those responsible to the full reach of American power.”

The “economic D-Day” campaign targets five sectors – technology, gold, aviation, shipping, and digital assets – and is intended to choke off virtually every remaining source of hard currency for Iran.

Bessent warned that it is “no longer acceptable to operate in the gray spaces” of US policy. The secretary said he anticipates the announcement of sanctions against a major financial institution as soon as next week.

Asked if Chinese banks that do business with Iran would be sanctioned, Bessent replied that “no one is above the reach of US sanctions.”

While Bessent did not say which countries would likely be targeted, China, Türkiye, and the United Arab Emirates are Iran’s biggest trading partners.

The secretary was also asked why sanctions aren’t being imposed immediately.

“Well, we are giving everyone the opportunity to remedy bad behavior,” he replied. “Why would I want to blow up the global financial system?”

“We believe that it is important to level set and give people a cure period, but they should know that that will move very quickly and that we are serious,” Bessent added. “So we believe that a warning shot and a level set of expectations is appropriate, and if people do not want to meet our expectations, then we expect – and they should expect – that they will leave the dollar system.”

Iranian officials largely scoffed at Bessent’s “economic D-Day” threat. Deputy Iranian Foreign Minister Kazem Gharibabadi asked on social media, “Is this a victory or an admission of America’s failure!?”

“You say Iran’s military capability has been ‘dismantled,’ 100% of its military factories ‘destroyed,’ and its nuclear program ‘buried’; but for this very Iran, the ‘largest financial assault in history’ and the mobilization of ‘all US institutions and authorities’ have been necessary!” he mocked.

While Trump has said the war is “over” or nearly over dozens of times, Iran currently appears to have the upper hand, as shipping has overwhelmingly avoided the US-supported route through the Strait of Hormuz, with most vessels using a course set by Tehran or avoiding the waterway altogether.

Trump’s war on Iran is proving costly not only in Iranian lives and US taxpayer dollars, but in the increasingly strained budgets of American families. Disruptions to oil shipments through the Strait of Hormuz have pushed gasoline prices above $4 a gallon nationally – roughly a dollar more than a year ago. Trump has dismissed Americans’ concerns about high fuel prices, saying $4 is “not very high” and vowing to “never apologize” for the economic pain his actions are inflicting.

That pain doesn’t stop at the pump. More expensive gasoline and diesel ripple through the economy, raising the cost of transporting food and other goods while keeping inflation elevated.

The pain is far worse for the people of Iran. Trump administration’s escalation comes as Iran’s currency, the rial, has plunged to record lows amid an economic crisis largely caused by the war and years of preceding US-led sanctions.

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Netanyahu: ‘No Deal Possible With Iran’s Savages’ — Backs Trump’s Economic Siege As Operation Economic Outcast Goes Full Force

Israeli Prime Minister Benjamin Netanyahu said on Wednesday night there can be no agreement with Iran’s leadership, describing the regime’s rulers as “savages.” The comments by Netanyahu came as the Trump administration launched a wide-ranging campaign of economic pressure against Iran.

Prime Minister Benjamin Netanyahu told an event held by Israeli settlers in the West Bank on Wednesday night that he doubted an agreement could be reached with Iran’s leadership. “I doubt an agreement can be reached with that group there, with those savages. I tell you – an agreement cannot be reached,” he said.

His remarks came as the Trump administration’s new campaign to squeeze Iran economically, dubbed “Operation Economic Outcast” by Secretary of the Treasury Scott Bessent, went into full force. Every last dime that Iran normally makes from exporting oil and shipping it around the world, from its banking system to front companies that do business on its behalf around the globe, would be targeted by the unprecedented effort to economically strangle Iran.

During his White House visit in July, Netanyahu urged Trump to “tighten the siege” on Iran. Now, the Israeli PM is reinforcing his previous position, saying that the Iranian leadership must fundamentally change or be strangled economically for good.

The Iranian maritime blacklist of 45 vessels that have allegedly flouted its rules for navigation in the Strait of Hormuz is already having an impact on global shipping. Three major Indian refineries and one global energy major told Reuters on Wednesday that they will no longer use vessels listed on the Iranian maritime black list for crude oil imports, citing security reasons.

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Iran Says Persian-Language Media Outlets ‘Funded By CIA’ Are Military Targets

One key tool Washington has long utilized for influence operations and covert regime change plotting abroad has long been the establishment of foreign media for political messaging.

The idea is that a foreign language satellite news channel gets presented as ‘independent’ while in reality it beams propaganda onto a unsuspecting population within a so-called ‘rogue’ state being targeted by the US.

For example, WikiLeaks previously revealed that US intelligence invested heavily in such projects to bolster anti-Assad forces and sentiment in the context of last decade’s proxy war in Syria.

Currently, Iran says it is fully aware of several Persian-language media outlets which are subversive, given they have the backing of the US, UK, or Israeli governments, or others like Saudi Arabia.

The AFP in a Wednesday report has said Iranian state media has newly called out the following as hostile propaganda media fronts:

  • BBC Persian
  • Iran International
  • Radio Farda

An Iranian military spokesman has said these have been added to the armed forces’ “military target bank” – putting the outlets on notice that their offices and infrastructure could come under attack.

“These hostile media outlets are the soldiers of Zionism and America and are included in our military target bank,” military spokesman Abolfazl Shekarchi announced.

He charged that they are “directly connected to Mossad, CIA and enemy intelligence organizations.” He emphasized: “The Iranian Armed Forces do not view these news outlets as media.”

And interestingly, per AFP: “Iran has designated Iran International as a terrorist organization since 2022 and has warned that cooperation with the channel is punishable under Iranian law.”

Earlier in the Iran war, we featured analysis which pointed out that Iran International calls itself the “most popular Persian speaking foreign based news channel in Iran”.It employs 700 people and broadcasts into Iran from London via satellite, radio and social media outlets.

Iran International has been accused by critics of promoting “regime change” in Iran and advancing the position of the former shah’s son, Reza Pahlavi, for a return to power. The outlet has long denied links to Israel or Saudi Arabia. The outlet reported heavily on protests that struck Iran at the beginning of this year, sparked by a cost-of-living crisis brought on, in part, by US sanctions.

In January 2025, the news site reported that more than 36,500 people were killed in a crackdown on protests. Those numbers were significantly higher than those estimated by the US and other western-based human rights groups.

US President Donald Trump cited casualty numbers similar to those reported by Iran International days before launching a war on Iran on February 28, but did not disclose where he had gotten the death toll number.

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Israeli PM Netanyahu claims Iran tried to assassinate his son

Israeli Prime Minister Benjamin Netanyahu has accused Iran of trying to assassinate one of his sons.

“This is an unbelievable case. Iran targeted one of my sons. Iran tried to murder him, tried to murder one of my sons,” Netanyahu told Israel’s Channel 14 on Monday, according to the Jerusalem Post.

“Iran tried to murder one of my sons. And this is why this promise [I am making] is more than a luxury – without it, they could succeed [in killing my son]. People need to show some restraint, especially during an election campaign,” Netanyahu said.

The prime minister stated that he had spoken to David Zini, director of the Israeli Security Agency Shin Bet, asking him to increase security for any prime ministerial candidate.

Netanyahu did not clarify during the phone interview which of his sons—35-year-old Yair Netanyahu or 31-year-old Avner Netanyahu—was targeted by the alleged plot, nor did he provide specific details of how Israeli intelligence was made aware of it.

Shin Bet previously extended protective services to Netanyahu’s sons and his wife, Sara Netanyahu, in July.

Netanyahu’s announcement comes after Israel revealed a large store of weapons — including rockets, grenades, drones, sniper rifles, automated weapons, anti-tank rocket launchers, mortars and other military firepower — it has confiscated from Hezbollah and Hamas in recent months. Both Iranian-backed groups have been linked to widespread regional violence and historical attacks that have claimed the lives of hundreds of American and international citizens.

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Why Iran Ruffles the Feathers of the United States

Strip away the diplomatic briefings, Congressional hearings and the endless cable news loops about centrifuges, regional proxies and cyber attacks, and you hit a raw unvarnished nerve.

What truly disturbs the United States about the Islamic Republic is not its policies, its rhetoric or even its nuclear ambitions.  It is Iran’s audacity to exist completely outside the American orbit; and make it work.

When diplomatic pretenses are scrapped, we see that a major power does not spend billions of dollars, conduct regional wars and upend global markets out of pure legalistic devotion to global rules or nonproliferation treaties.

The conflict with the United States, is not about what Iran has in its centrifuges.  Rather, it is about what Tehran represents to a hegemon that refuses to accept  “no” and cannot tolerate a world not under its control.

If the mere possession of enriched uranium or atomic warheads was the ultimate redline, the outline of America’s animosities would look entirely different.

The “crossing the nuclear threshold” explanation collapses under the weight of obvious global contradictions.  Washington, for example, has found ways to coexist, cooperate or outright partner with other nuclear-armed nations; from historical accommodations with Pakistan and India, to winking at Israel’s undeclared arsenal, and managing a pragmatic, albeit tense, approach to China and North Korea.

In the vocabulary of global superpowers, compliance is currency.  Washington tolerates fierce enemies if they eventually capitulate; and it accommodates brutal allies if they submit to American domination.  What empire dreads most is an uncooperative self-reliant country that refuses to bend the knee, yet stubbornly survives after decades of total economic siege.

The real reason Iran gets under the skin of the American foreign policy establishment, and why it has become its main target, has little to do with atoms, and everything to do with sovereignty, geography and the architecture of U.S. hegemony.

For decades, the unwritten rule of the post-Cold War order was simple: align with the U.S.-led global order, or be excluded and isolated.  Most nations that initially balked had little choice but to integrate, bound by the weight of a dollar-dominated global economy.   Difficult states were either absorbed or efforts were made to bring them into client-state relationships, or they are heavily monitored.

In 1979, Iran did the unforgivable.  It rebelled and institutionalized a successful, unapologetic ideological revolution that expressly rejected U.S.-Israeli hegemony, and built an enduring political structure explicitly rooted in anti-imperialism and anti-Zionism. It proudly declared that a Middle Eastern state could chart its own destiny outside the Western framework.

Since then, generations of U.S. policymakers have convinced themselves that crushing economic sanctions, diplomatic excommunication, assassinations and covert sabotage would inevitably lead to a popular implosion or “regime” collapse.

Washington’s frustration has only deepened because its strategy has not worked.

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Big Oil Is Seeing Windfall Profits as Trump’s War on Iran Drives Up Prices

While the U.S. war on Iran is broadly unpopular in the U.S, including among a growing number of Donald Trump voters, at least one of the president’s core constituencies is happy: Big Oil.

The war’s straining of the global oil supply chain has delivered windfall profits to major fossil fuel corporations. The top two U.S. oil companies, ExxonMobil and Chevron, recently disclosed an astounding $26.5 billion in net income during the second quarter of 2026. Top independent U.S. oil refiners like Marathon, Valero, and Phillips 66 are seeing similar explosions in profits. Globally, a Guardian study found that eight of the world’s top oil companies took in more than $90 billion, or “more than $700,000 of profit every minute over the spring quarter.”

The word “oil company” might evoke generic imagery of rigs and refineries. But behind these entities are executives, board members, and top investors who are primary beneficiaries of Big Oil’s war profiteering and who hold commanding power within a fossil fuel power structure that stretches well beyond oil company boardrooms and into Wall Street and the corporate establishment more widely.

Big Oil’s War Profits

ExxonMobil and Chevron are the two largest U.S. oil corporations, together worth around $1 trillion. They are massive integrated fossil fuel companies whose operations span the entire chain of oil and gas production, and who have a presence across virtually the entire world.

In July, the two oil juggernauts together reported $26.5 billion in net income during the second quarter of 2026 — April through June of this year — as “they cashed in on surging crude and petrol prices caused by Donald Trump’s Iran war,” wrote the Financial Times.

Comparisons with last year provide a metric for measuring these enormous returns. In 2025, ExxonMobil reported second-quarter total earnings of $7.08 billion. In 2026, by comparison, that number leapt to $14.53 billion — more than a 105 percent increase, and “its best quarterly profit since Russia’s 2022 invasion of Ukraine caused a surge in oil prices,” according to the Financial Times.

In 2025, Chevron reported second-quarter earnings of $2.49 billion. In 2026, that number skyrocketed nearly four times — 384.7 percent — to $12.07 billion, which is Chevron’s largest quarterly haul ever.

The two corporations’ share prices have also soared compared to last year. On August 10, 2026, ExxonMobil’s share price closed at $159.79 — a 51 percent increase from its closing price of $105.83 on August 11, 2025. Similarly, Chevron’s share price closed at $194.91 on August 10, 2026 — a 27 percent increase from its closing of $153.45 on August 11, 2025.

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Why So Many Countries Around the World Quietly Root for Iran

I have been stunned by the number of officials from a wide variety of countries who, while hardly favoring Iran or feeling much empathy for the Islamic Republic, have privately expressed to me a huge sigh of relief over Tehran’s success in thwarting US-Israeli aggression.

Given that many of these officials represent countries squarely in the US camp and have deep problems with the Islamic Republic, this “tacit rooting” for Iran tells us something about the state of global affairs.

There is relief that aggression and violations of international law did not pay off for the US and Israel in Iran, just as they didn’t for Russia in Ukraine. Venezuela was, in the eyes of many, a terrifying case. Regardless of one’s views of Maduro, the idea that a superpower could surgically kidnap the head of state of another country, install its favored ruler – who must now get her social media posts approved by the US Secretary of State – and gleefully announce that Venezuela is now American territory was petrifying to a lot of countries. So was the fact that European leaders praised the regime-change operation while dismissing concerns about its legality.

Europe, which had by and large stood against the George W. Bush administration’s illegal invasion of Iraq, was now enthusiastically onboard with regime change in Venezuela, all while insisting on the sanctity of international law in Ukraine and Greenland. That lack of resistance made the cost of a US neocolonial rampage all the more manageable. And given Donald Trump’s proclivities, both friends and foes of the United States feared they could be next.

The remarkable military success in Venezuela was one reason Trump became so gung-ho about war with Iran. If Venezuela took a few hours, he believed Iran would take four days at most. He promised skeptical regional leaders that the whole ordeal would “take no longer than 100 hours,” according to an Arab official.

Six months later, he is stuck in a losing war with no end in sight. And officials around the world feel relieved because Iran’s successful resistance has effectively prevented Trump from moving on to his next targets.

As one official from a traditional American ally told me: “Had it not been for the resilience of the Iranians, Trump would likely have attacked Cuba by now and perhaps even annexed Greenland.”

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The Strait of Hormuz Is Repricing the Entire World Economy

The politicians continue to speak about the Strait of Hormuz as though this were merely a regional dispute between Iran and its neighbors. That is complete nonsense. The strait is one of the most important arteries in the global economy, carrying roughly one-fifth of the world’s oil and gas shipments. Brent crude has moved above $91, but the headline price of oil is only the beginning. The real economic damage appears in shipping rates, insurance premiums, refinery margins, diesel prices, electricity costs, and ultimately government borrowing. War does not remain confined to the battlefield. It enters every household through inflation.

Washington claims the strait is open while Iran insists it remains closed. Both statements are political propaganda because it is the shipowners, insurers, and commodity traders who determine whether a waterway is commercially open. A tanker can theoretically pass through Hormuz, but that means nothing if the insurance premium becomes prohibitive or the crew refuses to accept the risk. Most politicians have never operated a business and do not understand that commerce depends upon confidence—not government declarations. Once confidence collapses, trade will retreat regardless of how many officials stand before cameras insisting that everything remains under control.

This is why the cost of the conflict cannot be measured solely by the number of barrels temporarily removed from the market. Every vessel delayed or redirected reduces available shipping capacity and increases freight rates elsewhere. Insurers must reprice the probability of a tanker being damaged, captured, or destroyed. Refineries must compete for alternative supplies, while countries dependent upon Gulf energy begin building precautionary inventories. Traders add a geopolitical premium because nobody knows whether the next missile will strike a ship, a refinery, a pipeline, or an export terminal. These costs compound through the entire system long before the average person notices the increase at the gasoline station.

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Has Trump Turned the Tables on Iran – or Is Another Round of War Coming?

The Trump administration believes it has turned the tables on Iran. Washington assesses that the rerouting of maritime traffic through the Omani corridor, combined with a global shift away from Persian Gulf oil, has reduced the effectiveness of Tehran’s closure of the Strait of Hormuz. At the same time, the U.S. blockade has sharply constrained Iran’s ability to sell its oil. The result, in Washington’s view, is a status quo that imposes greater costs on Iran than on the United States.

That calculation changes the strategic equation. Rather than being forced to accommodate Iranian demands, President Donald Trump now believes he can afford to wait Tehran out. For the first time since the war began, the White House has concluded, time is working in America’s favor.

Assuming that assessment is correct, the more important question is what Trump intends to do with this newfound leverage. If Washington interprets Iran’s vulnerability as an opportunity to extract capitulation rather than to negotiate a durable settlement, the result is more likely to be another round of war than an end to the conflict. Tehran has already demonstrated that when confronted with a choice between surrender and escalation, it will choose the latter. Giving Iran the same choice again is therefore unlikely to produce a different outcome.

The only way to turn this unexpected shift in the balance of leverage into a political victory is through diplomacy. If Washington’s assessment is correct, it now has an opportunity to use its leverage to secure a compromise that addresses its core interests while giving Tehran sufficient reason to accept an agreement. If, instead, the administration pursues maximalist demands, it risks converting a moment of leverage into another cycle of war.

Historically, however, Washington has tended to make precisely this mistake. Whenever U.S. policymakers have concluded that time and leverage are on their side, they have often treated Iranian weakness not as an opening for compromise, but as an opportunity to seek capitulation. The danger is that Trump will repeat that pattern. He will mistake leverage for victory and turn a potentially favorable negotiating position into the continuation of the tragedy that is US-Iran relations.

Trump failed militarily, but thinks he can win economically

America has run out of military options. The clearest indication is that the Trump administration has stopped striking Iranian targets even as Tehran continues to attack ships transiting the Strait. On Monday, an Iranian attack killed a sailor aboard a vessel using the southern corridor. Yet Washington did not respond militarily – even though the second round of the war began precisely because the administration had declared that it could not accept Iran firing on ships.

According to Reuters, U.S. forces have used virtually all of their global stockpile of ATACMS and Precision Strike Missiles (PrSM) during the five-month Iran conflict. Moreover, roughly 65% of Patriot interceptors, 38% of THAAD interceptors, and almost half of the Navy’s Tomahawk cruise missiles have been expended.

The depletion of these stocks appears to have forced Trump to abandon its pursuit of a military knockout and instead shift the burden of economic pressure onto Tehran. That strategy, in turn, appears to be producing results faster—and to a greater degree – than the administration anticipated.

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