by SHIVAN MAHENDRARAJAH
As Trump eyes war with Iran to bolster his legacy and appease his pro-Israel backers, Tehran’s likely retaliation could crash global markets, spike oil prices, and bring economic pain directly to the American public – turning support for apocalyptic politics into a crisis at the checkout line.
The “winds of war” are blowing toward Iran. This is the war for which Israeli donors Sheldon and Miriam Adelson, along with pro-Israel organizations such as AIPAC and the ADL, paid US President Donald Trump hundreds of millions of dollars over two election cycles.
But it’s not only the Israeli lobby banging the war drums; American Evangelicals – especially groups like “Christians United for Israel” – also support war, believing it will “save Israel” from the “Iranian menace.” Evangelical membership in the 119th Congress (2025–27) is high. War with Iran is not (yet) popular in the US, but – just as with Iraq – consent will be manufactured by Washington elites and the media.
Trump’s outreach to Russian President Vladimir Putin to resolve the Ukraine war partly aims to shift the Pentagon’s attention back to West Asia. He assumes that an early 2025 war with Iran will “save Israel” and secure his legacy, letting him focus on “America First” for the rest of his term.
But war with Iran could also backfire disastrously, sink his presidency, and derail the ambitions of 2028 Republican hopefuls like Marco Rubio and J.D. Vance. For starters, should the military campaign encounter any unforeseen backlash – which is highly likely, and the reason the Pentagon has assiduously avoided direct confrontation with Iran – the Democratic Party could retake both chambers of Congress after a US stock market crash and recession triggered by the war.
Iran’s military responses
Iranian leaders have vowed “devastating” retaliation for any attack on their soil. This would likely involve missile strikes against Israeli and US military targets – and possibly infrastructure and economic targets within the occupation state. If Israel uses tactical nuclear weapons against Iran’s nuclear facilities, Tehran will escalate further.
Whether or not nukes are used, war would shock the global economy, send oil prices soaring, and halt maritime traffic through the Strait of Hormuz. The greatest impact will fall on countries most dependent on West Asian oil.
The US economy may be less affected in the short term. Its stock markets, already down 10 percent since Trump’s return to the White House, would decline further – but Trump is gambling that households will not feel the pain. But if the Islamic Republic launches economic warfare that “brings the war home,” political dynamics will change.
Economic warfare
Most Americans are detached from the notion and consequences of war because, since the Civil War, US wars have been fought far from its borders. Even during the World Wars, though American families faced personal loss, the nation did not endure widespread suffering – unlike Britain, which imposed food rationing from 1939 to 1954.
The “Global War on Terror” impacted some communities, but not the country. US troops often joked in Iraq: “We’re at war; America’s at the mall.” Americans kept spending and enjoying life, while Iraqis and US occupation soldiers endured the brutal costs.
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