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A Quick Note on Where We Are in the War
Blog•Mar 10, 2026

A Quick Note on Where We Are in the War

The post notes that oil prices have slipped from recent highs while gasoline costs continue to climb, highlighting a disconnect between crude and retail markets. It contrasts the Trump administration’s quick, low‑cost intervention in Venezuela with the more complex Iran‑focused Strait of Hormuz showdown, arguing that the latter carries higher economic and political risks. The author suggests that Trump’s pattern of backing off when costs rise limits the United States’ willingness to sustain prolonged military pressure. Ultimately, the piece warns that authoritarian allies may exploit this restraint for their own strategic gains.

By Jared Bernstein