Let's talk about Trump, the Strait, lies, and sources.... - Belle of the Ranch

Well, howdy there Internet people. It's Belle again. So, today we're going to talk about Trump saying the strait is open. It's not.

Okay. So, we're going to start off the day reading some comments real quick before we get to the news, but the comments lead us to a very important point.

"Belle, your video aged like warm milk. Trump just announced the strait is open.”

Next. “A little late, Libby. Trump just said the strait is open. Delete this.”

One more. “Trump won. You're wrong. He just said the strait is open. Oil plummeted. The Dow is soaring.”

They go on. Okay.

“Trump just announced.”

“Trump just said Trump said Trump announced.”

One more time for the people in the back. Trump is not a source. I put more stock in a fortune cookie because I know the fortune cookie isn't saying it to manipulate voters or the market. Thank you for your attention to this matter.

Okay, here's the news. The strait is so not open. Iran said that coordination was necessary. Trump announced he was keeping up the US blockade of the blockade.

Yesterday on Air Force One, Trump said, "Maybe I won't extend it, so you have a blockade and unfortunately we have to start dropping bombs again."

He also claimed yesterday that Iran would turn over its uranium stockpiles that he previously claimed were obliterated. Iran said this was a lie. When it became known to the press that his statements were not part of any deal, he said the US would get the uranium one way or another. Iran viewed all of this as a violation--said fine, these are “repeated breaches of trust” and so they went back to reimposing full restrictions.

The strait was never actually fully open. They have now said it will remain closed until Trump ends the blockade. It's almost like Trump's chicken and waffles foreign policy is causing them to take an even more hardline approach. I feel like someone said that was going to happen.

Not just is the strait closed. Iranian gunboats opened fire on a tanker. The United Kingdom Maritime Trade Operations Center said that two gunboats from Iran's Revolutionary Guard opened fire on a tanker near Oman. The crew is reported safe.

Another container ship was hit by an unknown projectile and there are reports of a splash near a cruise liner. That may have been an aborted strike after an intentional decision not to hit a cruise liner.

Other tankers were turned back.

Trump's announcements are still causing market reactions. Brent crude oil dropped from about $95 and fell briefly below $88. Reality collided with Trump's statements and it started going back up. At some point, the market will begin to understand that Trump is not a source.

When we talk about how the market is untethered from underlying economics, this is what we're talking about. The Dow shot up a thousand points in large part due to Trump's claims that were not true. That's a massive swing based on nothing but emotions and lies. While Trump's inner circle may be benefiting from this, it isn't a game. Eventually, this will correct. And with large portion of the country's retirement tied up in the stock market, Trump's games and inability to control his mouth are risking the security of America's seniors.

Anyway, it's just a thought. Y'all have a good day.