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More Thoughts on Trump’s UN Declaration of War Against Iran and North Korea

Paul Craig Roberts

Authored by Ryan McMaken via The Mises Institute,

After fifty years of imposing embargoes and other sanctions, the United States never managed to topple Cuba's communist regime.

 

After forty years of the same in Iran, the US met with similar amounts of success.

 

Ongoing sanctions against North Korea have not toppled to regime there. 

But, some people in Washington won't let decades of failure dissuade them. 

Back in March, when we detailed the ongoing catastrophic deterioration in the US retail sector, manifesting itself in empty malls, mass store closures, soaring layoffs and growing bankruptcies - demonstrated most vividly by the overnight bankruptcy of Toys "R" Us, the second largest retail bankruptcy in US history after K-Mart - we said that "just like 10 years ago, when the "big short" was putting on the RMBX trade, and to a smaller extent, its cousin the CMBX, so now too some are starting to short CMBS through the CMBX, a CDS index which tracks the values of bonds backed

Luckily for residents of New Jersey, New York and New England, Hurricane Jose isn’t expected to pass close enough to the northeastern US coast during its journey north through the Atlantic to cause any real damage.  While the National Hurricane Center has warned that the category one storm is expected to cause “dangerous surf and rip currents” along the east coast for a few more days, the region will thankfully be spared the devastation of Sandy, which battered areas with comparatively tame 80 mph winds. By comparison, Irma battered Puerto Rico with gusts of up to 135 mph.

Whether in response to rising scorching tensions with the US, or simply to provide support for the ruble, on Tuesday Russian President Vladimir Putin instructed the government to approve legislation making the ruble the main currency of exchange at all Russian seaports by next year, RT reported citing the Kremlin website.