00:00Well, I don't think Iran is capitulating, because I think this war has not gone badly for Iran.
00:07Iran has accomplished what it set out to do when Israel and the United States launched their attacks.
00:14Iran prevails as long as it is not defeated, and Iran prevails as long as it raises the costs to
00:23the United States.
00:24And the costs to the United States are a world economy that is on the brink of collapsing into a
00:34global recession.
00:35We're now talking about an oil crisis on the scale that we haven't seen since the 1970s.
00:42So I don't think Iran is the one that's losing.
00:46Trump, I think, embarked on this venture, probably against his better judgment, but we don't yet know,
00:56because he had been persuaded by Bibi Netanyahu that an easy victory was possible in Iran,
01:05that somehow Trump had had a number of quite easy victories over Iran in the past.
01:11He had assassinated General Soleimani. There were no repercussions.
01:16The 12-day war, there were no repercussions.
01:19And I think he probably felt Iran is a paper tiger. This should be pretty easy.
01:23Now Trump has seen that this is anything but easy, and he's walked back many of the demands that he
01:30has made during the past three weeks.
01:33I mean, he talked about unconditional surrender. He talked about regime change.
01:36All of that is gone, and I think he wants to get out. Why does he want to get out?
01:42Well, because he doesn't want the entire world economy to go down the sinkhole.
01:47He, after all, is not the president of Israel. He's the president of the United States.
01:51And as the president of the United States, he does have a vested interest in global economic stability.
01:56So I think he wants to, you know, make sure that he's not the man responsible for the worst economic
02:05crisis since the 1930s.
02:07Okay.
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