Tom Luongo is an independent political and economic analyst based in North Florida, USA
Trump wants the unachievable. He wants a new nuclear deal and not to go to war with Iran. He needs to make the grand gesture soon, like firing John Bolton, but it may not be enough.
With RussiaGate behind him and leading Democrats refusing to let it lie down as they try to obfuscate the obvious trail which leads back to them Trump looks a lot more secure, Tom Luongo writes.
Iran is right to say they won’t negotiate at gunpoint. This is especially true when it has been revealed that the guns themselves can’t actually be fired. Their leadership would collapse overnight if they began talks with Trump.
Italy’s Euroskeptic government led by Lega’s Matteo Salvini and Five Star Movement’s Luigi Di Maio are preparing an assault on the foundation of the European Union itself to save Italy.
In the end time is always on the side of the defenders in any conflict like this one, especially one built on the fragile edifice of an oil market ready to implode thanks to continued malinvestment and price distortions.
The political radicals will now have a far greater say and influence over the course of Europe. And it starts with the rise of the Greens in Germany.
Since these elections didn’t end up with an upside surprise for the Euroskeptic parties overall, the usual suspects in Brussels will wrongly take that as a vote of confidence to thwart any reforms to their European project.
Just like the empty threats against Chinese state oil companies for buying Iranian oil, the US knows there is a limit to who and what they can sanction without collapsing the world economy.
At this point Trump is fighting a war with everyone not named Israel and Saudi Arabia. Even allies are not to be spared Trump’s wrath for all of their slights against his beloved United States.
As Trump sabotages global trade and unleashes chaos worldwide the dollar will rise, not fall, as a mad scramble for dollars to pay debts will accelerate.