Kitty and I have very similar thoughts, just like when I previously mentioned the oil price ceiling. Although many friends disagreed, looking at it practically, going head-to-head with Iran brings no advantage to Trump or the U.S. Starting a war with Iran has clearly been the biggest mistake Trump made during his term, even bigger than the tariffs. The U.S. underestimated Iran's resilience as a theocratic state, or maybe the intelligence provided by Israel was intentionally aimed at dragging the U.S. into trouble. Meanwhile, Trump was still caught up in the Venezuela drama and couldn’t pull himself out, leading to a prolonged conflict that’s lasted over six months. From the U.S. perspective alone, rising oil prices lead to higher inflation, the Fed maintaining high interest rates, small and medium-sized businesses struggling to survive, increased personal loans, and higher bad debt rates—all of which translate into growing distrust toward Trump and the Republican Party. Especially since Trump has been criticizing the high oil prices ($5) during Biden’s term, yet now under Trump’s administration, U.S. oil prices have reached around $4.6. This is basically Trump slapping himself in the face. Politically, the high oil prices have made it difficult for Trump to push forward many initiatives, which is the most frustrating part for him. Essentially, the U.S. and Iran are locked in a battle over the Strait of Hormuz. If it weren’t for the Hormuz issue, the U.S. might have already pulled out. Iran has clearly recognized the U.S.’s dependency in this area, so it’s clinging to Hormuz in hopes of gaining greater leverage in negotiations. The U.S., on the other hand, doesn’t have a better solution and can only block Iran’s economic lifeline, preventing Iran’s shadow fleet from making money, pushing both sides into a phase of mutual attrition. This kind of stalemate is hard for either side to sustain for long. With only three months left until the U.S. midterm elections, inflation has started to rise across the board following the blockade on Iran.