Immediate Market and Casualty Impact

Political cartoonist Ted Rall and CIA whistleblower John Kiriakou deprogram you from mainstream media every weekday at 9 AM EST.

Today we discuss the US/Israeli War Against Iran:

• Iran was more prepared for war than the Trump administration anticipated, U.S. officials admit. Three American service members were killed and five seriously wounded by Iran at Camp Arifjan in Kuwait. Flights across the Middle East came to a standstill after Iran struck at least four airports, including Dubai. Bahrain sustained minimal damage from a drone. Airports in both Kuwait and the capital of Iraqi Kurdistan, Irbil, were also hit. Iran hit Zayed Port in Abu Dhabi, where the French navy has a base. Two drones struck a port in Duqm, a port town in Oman. An Iranian bomb struck a shelter in Beit Shemesh, west of Jerusalem, killing at least nine people. Residential towers in Bahrain were also hit. Kuwait accidentally shot down three F-15E Strike Eagle fighter jets—$100 million each—down late last night. Six crew members ejected.

• The war expanded into Lebanon after Hezbollah claimed a rocket and drone attack on Israel. Israel struck the group’s HQ in Beirut and targeted weapons storage facilities. PM Keir Starmer is reversing his decision to bar the U.S. from using U.K. bases. The war has only sped up the deterioration of the trans-Atlantic relationship.

• Trump is publicly warning Americans to gird for a sustained, costly war.“Sadly, there will likely be more [U.S. deaths] before it ends,” the president said. “America will avenge their deaths and deliver the most punishing blow to the terrorists who have waged war against, basically, civilization.”

• Oil futures surged. Brent crude, the international benchmark, spiked 6.2% to trade at $77 a barrel, having briefly surpassed $82 earlier in the trading session. Meanwhile, stock futures fell. Futures for the S&P 500, the Nasdaq and the Dow were all down more than 1%. But Exxon and Chevron shares rose pre-market. Defense stocks, like Northrop Grumman and Lockheed Martin, were also up strongly.

Also:

• Pakistan bombed Bagram Air Base in Afghanistan. The Taliban is firing at Pakistani fighter jets over Kabul.

• A man who fatally shot two people and wounded 14 others at a popular bar on Austin’s Sixth Street, 53-year-old Ndiaga Diagne, wore a hoodie that read “Property of Allah” over a T-shirt bearing an Iranian flag.

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