The bill for the war with Iran is not only being paid by governments, but also by ordinary citizens. According to estimates by Mark Zandi, chief economist at Moody’s, the conflict has already cost about $2,000 per US household between more expensive gasoline, more expensive mortgages and higher military spending.
The most striking thing is that much of the blow comes from energy: when the world supply of oil is altered, everything becomes more expensive, from filling the tank to transporting products. In practice, the war is functioning as an invisible tax on families, eroding much of the wage improvements achieved in recent months.
This was always in the cards, conflict or not. The EROI of fossil fuels has been in steady decline for decades and no new major mineral discoveries or technology breakthroughs have helped. We’re going to learn what happens when you piss away a one-time endowment of millions of years of sunlight trapped in hydrocarbons. If only fusion wasn’t always just 10 years away…
No. Just no. You're trying to apply a moral justification to real world events. There isn't one.
Nothing has changed about the supply of oil, just our means of extracting and refining it.
If anything, the reason this will drive up future oil prices is because renewables are cheaper to produce, and building more refineries for energy that's more expensive doesn't make financial sense.
All I know is that since the mango menace became president, everything has gone up 30-40%. He has wrecked middle-class finances. Makes sense; the dude never had to worry about grocery shopping to notice.
Remind all the Trump voting buffoons next time they pretend to care about the debt that he is also going to be single-handedly responsible for almost 40% of the nation's debt between both of his terms.
Hey at least the first time he caused massive inflation he set it up to kick in during the Biden administration so the dumbest mother fuckers in the country would blame him. It was a smart play because that tactic works every time republicans blow up the global economy.
I never dreamt when mango took office in January 2017 that our nation, our people, and even the global incomes of other nations citizens, would have this much storm blown on them.
I would like to see it broken down further. For instance, taking profit from market manipulation is a way to skim cash directly into trump's pocket and the pockets he chooses to share the largess with. How much moved from my pocket to his this way?
Also, does this include the damaged equipment, material, and infrastructure we'll eventually have to replace? How about future repairations? How about the dead and injured Americans, does this include surivors benefits and healthcare for the living casualties?
The energy thing is starting to hit my household hard. The groceries, the fuel purchases we make directly. I’m noting that we are having those credit card balances creep up. That’s the battle line in my budget right now: keep and maintain a zero balance on the credit card. And it’s increasingly difficult.
Listen, I'm not disputing the numbers, I'm just disputing the utility of averages because I'm not the average US household and I'm not the one bearing the increased costs. Naw not a rich guy, I don't own stocks or own anything close to be considered a "portfolio." I'm just fortunate enough to own what I have. I don't have any debt, so I don't care about interest rates. I don't like high fuel prices, but I use so little that it hasn't made that much of a dent. I don't like high food prices, but I haven't missed a meal. So while I don't doubt the war has cost the average household $2,000, it means that the amount it hasn't cost me is being paid by someone else. Likely by someone less able.
I'm 64. I grew up watching those grainy old films of Germans in the '30's pushing wheelbarrows full of cash looking to buy a loaf of bread. I'm not saying food inflation won't come, I'm sure it will. I'm just pretty sure that it I will be able to absorb it. Odds are I just die before things really get bad, I could die tomorrow. That would just shift the average cost attributed to me downward.
This is an absolute unit of a bargain. Imagine if we could have also devastated the Soviet Union’s nuclear centrifuges for so cheap and avoided a multi-generational hugely expensive cold war.
The problem here is clearly not the cost itself, it's that 1) a reason why it's so large is that Trump attacked Iran without a plan to deal with the obvious energy shock they would provoke in response 2) their unwillingness to be honest about how well the war is going and that there is a price to pay for it 3) the general disregard for suffering on both sides that we've come to expect from these idiots
No big deal. There isn’t much you can do ahead of time for that and in the long run it’s a temporary blip.
Valid. He sucks at communicating. Not a big problem though. The primary victim of this will be Trump via the mid-terms.
Despite the tragic school mistake, the US has been super restrained in causing death and suffering to civilians. This is the sole reason that the US can’t force a surrender. Otherwise we would have gone straight for their already inadequate water system and they would be dying of thirst in droves.
They constructed vast underground missile and centrifuge complexes and showed the capability to pierce the best missile defense in the world.
Another decade of Chinese tech infusions and centrifuge operation and they would have had thousands of hypersonic nuclear icbms, giving them the option to either destroy the great and little Satans and bring about the end times their theocracy subscribes to, or they could hand out nukes to their terror proxies knowing that mutual assured destruction will safe guard them from any retaliation. Kind of worth it to make sure these outcomes are prevented.
[OP] Sufficient_Fuel5269 | 3 hours ago
The bill for the war with Iran is not only being paid by governments, but also by ordinary citizens. According to estimates by Mark Zandi, chief economist at Moody’s, the conflict has already cost about $2,000 per US household between more expensive gasoline, more expensive mortgages and higher military spending.
The most striking thing is that much of the blow comes from energy: when the world supply of oil is altered, everything becomes more expensive, from filling the tank to transporting products. In practice, the war is functioning as an invisible tax on families, eroding much of the wage improvements achieved in recent months.
adorablefuzzykitten | 3 hours ago
"War may cost taxpayers $2,000 but when you know what stocks to buy it makes you $100M": Donald Jessica Trump
thehourglasses | 3 hours ago
This was always in the cards, conflict or not. The EROI of fossil fuels has been in steady decline for decades and no new major mineral discoveries or technology breakthroughs have helped. We’re going to learn what happens when you piss away a one-time endowment of millions of years of sunlight trapped in hydrocarbons. If only fusion wasn’t always just 10 years away…
ZionistsWillBanYou | 13 minutes ago
No. Just no. You're trying to apply a moral justification to real world events. There isn't one.
Nothing has changed about the supply of oil, just our means of extracting and refining it.
If anything, the reason this will drive up future oil prices is because renewables are cheaper to produce, and building more refineries for energy that's more expensive doesn't make financial sense.
Upset-Motor-2602 | 3 hours ago
All I know is that since the mango menace became president, everything has gone up 30-40%. He has wrecked middle-class finances. Makes sense; the dude never had to worry about grocery shopping to notice.
PatchyWhiskers | 2 hours ago
He's always had this skill where he makes everyone around him poorer while he himself becomes richer.
boeings_door_plug | 2 hours ago
Remind all the Trump voting buffoons next time they pretend to care about the debt that he is also going to be single-handedly responsible for almost 40% of the nation's debt between both of his terms.
Pure-Science-7774 | 2 hours ago
Oh he’s not done with the debt yet, he’s building a ballroom in every state.
naijaboiler | 2 hours ago
The remarkable ways Republicans can be silent about debt and deficits always disappear when Republicans are blowing both up
BroughtBagLunchSmart | 2 hours ago
Hey at least the first time he caused massive inflation he set it up to kick in during the Biden administration so the dumbest mother fuckers in the country would blame him. It was a smart play because that tactic works every time republicans blow up the global economy.
082426grateful | 44 minutes ago
I never dreamt when mango took office in January 2017 that our nation, our people, and even the global incomes of other nations citizens, would have this much storm blown on them.
Lost-Platypus8271 | 16 minutes ago
people were really lining up to vote for the guy who had never heard the word groceries before, thinking he was their working class champion 🤣
martin | 9 minutes ago
How could anyone worry about a word nobody's ever heard before?
GreenWandElf | 2 hours ago
Inflation already costs each American household roughly 2k a year.
The Trump tariffs cost each American household over 2k each year.
Somehow, the president found another way to snatch 2k out of each American's household income with this war.
I wonder what's next? Sigh.
Stock-Ad-7486 | 2 hours ago
Unfortunately we will find out after midterms and I’ll add it will be 2 more years of grift.
Stemms123 | an hour ago
This “war” is one of the dumbest decision in recent memory.
Unlike many other dumb decisions this one was obviously a bad idea at the time, not just in retrospect.
chabacanito | 49 minutes ago
It's not dumb. It's helping Russia make more revenue.
bhenghisfudge | 37 minutes ago
The Iran war was not for Russia
jcooli09 | 47 minutes ago
It'll end up being much higher than that.
I would like to see it broken down further. For instance, taking profit from market manipulation is a way to skim cash directly into trump's pocket and the pockets he chooses to share the largess with. How much moved from my pocket to his this way?
Also, does this include the damaged equipment, material, and infrastructure we'll eventually have to replace? How about future repairations? How about the dead and injured Americans, does this include surivors benefits and healthcare for the living casualties?
082426grateful | 45 minutes ago
The energy thing is starting to hit my household hard. The groceries, the fuel purchases we make directly. I’m noting that we are having those credit card balances creep up. That’s the battle line in my budget right now: keep and maintain a zero balance on the credit card. And it’s increasingly difficult.
CommieMartyr | 2 hours ago
Listen, I'm not disputing the numbers, I'm just disputing the utility of averages because I'm not the average US household and I'm not the one bearing the increased costs. Naw not a rich guy, I don't own stocks or own anything close to be considered a "portfolio." I'm just fortunate enough to own what I have. I don't have any debt, so I don't care about interest rates. I don't like high fuel prices, but I use so little that it hasn't made that much of a dent. I don't like high food prices, but I haven't missed a meal. So while I don't doubt the war has cost the average household $2,000, it means that the amount it hasn't cost me is being paid by someone else. Likely by someone less able.
Pure-Science-7774 | 2 hours ago
The food inflation is yet to come. You haven’t seen anything yet. Think about Germany after the war paying $100 for a loaf of bread.
CommieMartyr | 2 hours ago
I'm 64. I grew up watching those grainy old films of Germans in the '30's pushing wheelbarrows full of cash looking to buy a loaf of bread. I'm not saying food inflation won't come, I'm sure it will. I'm just pretty sure that it I will be able to absorb it. Odds are I just die before things really get bad, I could die tomorrow. That would just shift the average cost attributed to me downward.
serpentjaguar | 56 minutes ago
It's all about you, evidently.
CommieMartyr | 49 minutes ago
Absolutely. Isn't it all about you?
gyozafish | 2 hours ago
This is an absolute unit of a bargain. Imagine if we could have also devastated the Soviet Union’s nuclear centrifuges for so cheap and avoided a multi-generational hugely expensive cold war.
RashmaDu | an hour ago
The problem here is clearly not the cost itself, it's that 1) a reason why it's so large is that Trump attacked Iran without a plan to deal with the obvious energy shock they would provoke in response 2) their unwillingness to be honest about how well the war is going and that there is a price to pay for it 3) the general disregard for suffering on both sides that we've come to expect from these idiots
gyozafish | an hour ago
No big deal. There isn’t much you can do ahead of time for that and in the long run it’s a temporary blip.
Valid. He sucks at communicating. Not a big problem though. The primary victim of this will be Trump via the mid-terms.
Despite the tragic school mistake, the US has been super restrained in causing death and suffering to civilians. This is the sole reason that the US can’t force a surrender. Otherwise we would have gone straight for their already inadequate water system and they would be dying of thirst in droves.
serpentjaguar | 52 minutes ago
But that only works if we accept your absurd analogy to the Soviets, which nobody does, because it's batshit insane.
gyozafish | 33 minutes ago
They constructed vast underground missile and centrifuge complexes and showed the capability to pierce the best missile defense in the world.
Another decade of Chinese tech infusions and centrifuge operation and they would have had thousands of hypersonic nuclear icbms, giving them the option to either destroy the great and little Satans and bring about the end times their theocracy subscribes to, or they could hand out nukes to their terror proxies knowing that mutual assured destruction will safe guard them from any retaliation. Kind of worth it to make sure these outcomes are prevented.