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Trump's war in Iran is going to sweep us all into the gutter.

Oil prices have started to come down for a worrisome reason. It's like the tide going out along the seashore, an ominous phenomenon heralding the approach of a tsunami that wipes out everything. The aftermath will be a global economic wasteland.

The largest oil shock in history caused prices to surge. Now they're so high that they have inducing "demand destruction." As a result of the acute energy commodity shortages stemming from the closure of the Strait of Hormuz, oil appears to have reached a point where it is now so expensive that overseas businesses and households have begun curbing investment and consumption. That means slower economic growth that is expected to bring about a depression far worse than the last one: The Great Depression in 1929.

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BizSuitStacy · M

Oil prices have started to come down for a worrisome reason.

You'd better be worried...the financial markets are responding positively to Trump's strategy. The TDS never saw it coming 🤣

MoveAlong · 70-79, M

@BizSuitStacy

financial markets are responding positively to Trump's strategy.

What strategy?

sree251 · 41-45, M

@BizSuitStacy

You'd better be worried...the financial markets are responding positively to Trump's strategy. The TDS never saw it coming 🤣

The stock market was also at all time highs just before the 1929 crash.

BizSuitStacy · M

@sree251 So your rationale is because the economy is good, it's gonna be bad? 🙄

The primary cause of the crash of '29 was due to so many investors over extending themselves and were unable to cover margin calls.

The cause of the housing market crash of 2008 was caused by the government forcing banks to loosen their lending requirements to buyers who otherwise wouldn't qualify because of the risk of being unable to pay their mortgages. Look up the Community Reinvestment Act and redlining (thank you Jimmy Carter and Bill Clinton). Not only did many more investors qualify for loans, lenders increased the amounts people could borrow against their income. The demand for housing rose, in entity dropped, driving housing prices up. Loans were bundled together into MBSs, and then the foreclosures began. Crash!

So, tell us about the market fundamentals now that are going to cause the next crash.

BizSuitStacy · M

@MoveAlong controlling the distribution of oil

sree251 · 41-45, M

@BizSuitStacy

controlling the distribution of oil

Controlling is one thing and disrupting is another.

BizSuitStacy · M

@sree251 Disrupting? As in putting mines in the strait? Thought you said Iran had the upper hand because they controlled the strait. Which is it?

MoveAlong · 70-79, M

@BizSuitStacy

controlling the distribution of oil

Well, I guess now that regime change, freedom for the Iranians and unconditional surrender is off the table you have to try something else.

I really want something to end this thing. t's costing Americans dearly.

sree251 · 41-45, M

@BizSuitStacy

Disrupting? As in putting mines in the strait? Thought you said Iran had the upper hand because they controlled the strait. Which is it?

The IRGC did not mine the Strait. Ships are passing through their tool booth. Two US Navy ships tried to sneak through but were warned to not try it. When they stayed on course, the IRGC locked their radar on them and gave a final warning. They turned around and scoot off.

sree251 · 41-45, M

@MoveAlong

I really want something to end this thing. t's costing Americans dearly.

Quite right. Something is keeping Trump in office. Ordinarily, he would be removed from office by Congress with support of the Pentagon. Being commander-in-chief, he would be relieved of his command and placed under arrest.

[media=https://www.youtube.com/watch?v=ohJ-DiV7Sak&t=89s]

BizSuitStacy · M

@sree251 I don't where you're getting your news, but the US moved their naval ships into the strait no problem. 20 tankers went through yesterday. The only ones not allowed in or out are Iranian. If they try, navy SEALs will board those vessels and take control. China just cried uncle. It's over dude.

MoveAlong · 70-79, M

@BizSuitStacy

It's over dude.

It won't be over until 120 tankers a day are passing through the Strait and I can buy gas for under $3.00 again.

Then when it's over you can come back and tell me what we won.

BizSuitStacy · M

@MoveAlong Funny...this was the narrative 3 weeks ago.

Prior to that, it was "oh no...long term ground war... Afghanistan 2.0" Prior to that it was, "Iran doesn't have ICBMs." Prior to that, it was Iran isn't close to producing nuclear warheads.

Do you lefties ever get tired of being wrong?