Yesterday Donald Trump declared that the Iran war is going “better than anybody expected could be done.” He’s delusional, of course. And his delusions are the reason the price of oil is back at around $100 a barrel, and — as I’ll explain shortly — the effective price is much higher than that.
Trump’s gratuitous war on Iran has turned into a remarkable quagmire — remarkable because the only thing keeping the war going is Trump’s vanity. He effectively lost the war in the first few days, when it became apparent that Iran’s hardline regime had survived the initial decapitation strike and that the U.S. military couldn’t keep the Strait of Hormuz open. But Trump is psychologically incapable of admitting failure. So the war goes on, weakening America by the day, as he searches for some way to spin his abject defeat as a victory.
