Iran Is Weak, but Trump Folds to This 1 Force
Nothing can rein in the U.S. president – except for gas and stock prices. It is just amazing that market actors continue to believe him.
The U.S. has the strongest army and the biggest economy, which makes its president the most powerful man in the world. Donald Trump is playing these trump cards more assertively and recklessly than his predecessors. He seems to have no boundaries.
A mistake, as is becoming apparent for a second time. Not even Trump can compete with the markets. When the stock market and U.S. bonds fell after the doozy of his tariffs in April 2025, he promptly withdrew. And now, in the war with Iran, the same phenomenon is happening. TACO — in the end, Trump always chickens out.
After oil prices had risen by about 50% and stock prices dropped on Monday, Mar. 9, Trump started getting scared. He knows that his voters will not forgive him for higher prices at the gas pump and smaller retirement accounts. So, after he had committed the U.S. to a longer war, he said that the war was “very complete” and that there was “nothing left in a military sense” in the country.
Typical Trump. His illusion that he could even overturn the U.S. oil embargo against Russia shows how far he is going with his new TACO pirouette. For him, principles are a matter of price.
What is more amazing is the markets’ trust in Trump’s word. His aside about the war being practically over had oil prices fall and stock prices rise within hours.
It is a peculiar symbiosis. The markets, and only the markets, can rein in Trump. And when he bows to them, they reward him. The U.S. president may have ended the rules-based order. But the rules of the market continue to play out, as always.
The U.S. has the strongest army and the biggest economy, which makes its president the most powerful man in the world. Donald Trump is playing these trump cards more assertively and recklessly than his predecessors. He seems to have no boundaries.
A mistake, as is becoming apparent for a second time. Not even Trump can compete with the markets. When the stock market and U.S. bonds fell after the doozy of his tariffs in April 2025, he promptly withdrew. And now, in the war with Iran, the same phenomenon is happening. TACO — in the end, Trump always chickens out.
After oil prices had risen by about 50% and stock prices dropped on Monday, Mar. 9, Trump started getting scared. He knows that his voters will not forgive him for higher prices at the gas pump and smaller retirement accounts. So, after he had committed the U.S. to a longer war, he said that the war was “very complete” and that there was “nothing left in a military sense” in the country.
Typical Trump. His illusion that he could even overturn the U.S. oil embargo against Russia shows how far he is going with his new TACO pirouette. For him, principles are a matter of price.
What is more amazing is the markets’ trust in Trump’s word. His aside about the war being practically over had oil prices fall and stock prices rise within hours.
It is a peculiar symbiosis. The markets, and only the markets, can rein in Trump. And when he bows to them, they reward him. The U.S. president may have ended the rules-based order. But the rules of the market continue to play out, as always.
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