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A CAPE ratio of 40x and record-high margin debt; what could go wrong?
I'm probably wrong but it seems glaringly obvious to me that the two supposed allies are not at all acting in a coordinated way. One hand doesn't know what the other one is doing or one hand is just ignoring it.
I'm glad Iran is teaching the US and Israel a lesson. Their aggression and attacks have gone unchecked for far too long.
I believe that there are powerful elements in the USA that are happy with the Strait being closed. This is rewarding oil producers and processors in red states while hurting blue California proportionally more.

Also, it appears that Trump enjoys any actions that hurt allies more than they hurt him. He's waiting for someone who cares more about the Strait to devote their resources to sorting this out.

All noise to the contrary is lip-service and market manipulation.

> glad Iran is teaching the US and Israel a lesson

Nobody is learning anything. Hardliners in three capitals are performing for their own choirs.

In the meantime, it’s a bonanza for American energy and defence interests.

The Iranian government executes gay people.
Lesson learnt? I don't think so. The ones responsible are the most insulated from the consequences of their actions, which is why they're doing all of this in the first place. It's the rest of us who're paying the price.
I don’t think Israeli government really cares.
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Can't wait for Trump to offer them $300B of our money for this to go away so he can get back to golfing with our money.
There has been a lot of posturing from both sides, this is probably going to continue for a couple of months more before they reach equilibrium.
Yeah, I don't see it. Trump is also pathologically incapable of admitting defeat (see Jan 6) and it will be very difficult for him to claim victory without getting something better than the deal Obama got. There's little to no incentive for Iran to give him any such deal. Israel also doesn't want the war to end and they can easily sabotage any real negotiations that appear to be getting serious.

Trump has no off ramp. I don't see this ending until he is out of office.

The craziest thing to me is that the conventional wisdom is that this will be over by July.

We will be lucky if any ships get through the straight by December.

Some ships are passing thorough, it’s just extremely limited. But you’re right, it will take a very long time for the Strait to be operating at a meaningful level
I suspect Iran's goal is to drag this out until US midterm elections.
What I don't understand is why the markets and people still believe Trump's repeated lies about the deal. I also don't understand why he started a ceasefire in the first place.
Iran did this to Obama as well, said one thing in private then announced a totally different thing in public. It makes them kinda hard to talk to. So they might tell American negotiators in private they agree to everything, then they go and say in public Americans agreed to do everything Iran wants, what would you do when that keeps happening?
Markets are looking revenue figures and forward guidance.
Iran has also suggested that they can shut down, Bab-el-Mandeb, which traslates as the "Gate of Grief" as a way to end the "war of choice", imposed by the zionist genocide alliance who are so deranged and puffed up with there impunity as to be threatening everybody as to who they will destroy after Iran, unless they help to do it. The whole mess serving to drive a monumental push towards renewable energy everywhere else.