Stand by Your Man

Good for the Wall Street Journal’s editorial page for calling out all the pessimists at Washington badmouthing the Iran war.Here’s a quote: “This history seems apt given the remarkable pessimism in the media and political class about the U.S. bombing campaign against the terrorist regime in Iran. Five days into the war, you’d think from the coverage and commentary that the U.S. is losing. The editorial adds that “financial markets are said to be in turmoil, the war is ‘engulfing’ the region and maybe the world, the U.S. is running out of missiles, the war is a gift to Russia, and there’s no plan for how this ends — these are only a few of the dire media themes.”So, my take: the Journal is right, there’s way too much pessimism. And let’s not try to fool anybody about this. The pessimism is coming from Democrats and the lefty press who are rooting against President Trump, and therefore unfortunately rooting against the mighty American military, and the whole important idea that the president is trying to end the 47-year Iranian war against America.Democrats and their press allies say the president is engaging in a forever war. This is so utterly untruthful.Instead, this is day six of his campaign to end a forever war. If anybody would read the administration’s national security strategy put out last November, they would see clearly that Mr. Trump’s policy is to end wars.And Democrats are putting themselves in an incredibly disloyal position of subverting that truth and effectively aiding the enemy.Now, all the financial markets went into panic mode today, I guess, after this Bloomberg story by a retired Navy admiral with a highly dubious forecasting track record telling everyone that a bunch of Iranian motor boats are going to close the Strait of Hormuz and blow up the oil markets and the world economy.Now, what’s been blown up is the Iranian navy, most of which is presently sitting on the bottom of the Persian Gulf. Of course the American military has always planned on Iran going after Hormuz.What has bottled up oil is sky-rocketing insurance costs, and safety concerns for tanker crew members.SoMr. Trump is taking steps to solve this. In the next few days, you will see the government will relieve insurance rate pressures and the great United States Navy will be on the scene to escort tankers through the Strait. Also, a large quantity of oil which is already on the high seas will be released. That’s going to take pressure off the price increase.The Saudis and OPEC putting a couple of hundred thousand more barrels on the market, that will take pressure off the prices. And let’s not forget “drill, baby, drill,” which is producing 24 million barrels per day in oil and liquid fuels. That is more than Russia and Saudi Arabia combined. Plus, 110 billion cubic feet per day of natural gas.Plus, America is in a business boom. After the One, Big, Beautiful Bill of tax cuts and deregulation, we’re in a productivity boom, we’re in a factory and capital spending boom. Unit labor costs (wages minus productivity) are barely above one percent, that’s probably the true inflation rate for the economy.Plus, the ISM’s Purchasing Managers Index for manufacturing and services are getting stronger each month. And even with some financial jitters, bond rates are historically low. Just above 4 percent. Meanwhile, the Dow is only off 2 percent and the S&P 500 less than 1 percent.So, let’s not panic. People in the know will tell you the war is going better than expected. And the Iranian navy may soon be reduced to just a few little fast skiffs if they dare to even leave shore.I want to ask, why can’t at least some Democrats and their pals in the press actually stand behind a brave president who is working to change the course of history and to reorder the international landscape and the balance of power in favor of the United States and the West and Israel and the Middle East towards a new course of freedom and prosperity.Just once, let’s stand by our man.From Mr. Kudlow’s broadcast on Fox Business Network.

Stand by Your Man

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