It’s Sunday afternoon. I hope your weekend is going well. Let me fill you in quickly on the latest updates. Later today, MeidasTouch editor-in-chief Ron Filipkowski will publish his weekend bulletin, completely paywall free. Thanks to everyone for liking, subscribing, and sharing our reports.
Now let’s get into it.
This morning, Trump spoke with ABC News Chief White House correspondent Mary Bruce. When Bruce asked about the economic fallout, including rising gas prices, Trump dismissed the situation as a minor inconvenience. He described the war and its economic impact as a “little glitch,” saying the United States simply had to take a “detour.”
During the same conversation, Trump signaled that further escalation is still under consideration. When asked about the possibility of sending special forces into Iran to seize the country’s nuclear stockpile, Trump said everything remains on the table.
He also claimed Iran had been planning to take over the entire Middle East and said the next Iranian leader would not last long if they did not gain his approval. This is propaganda similar to what Russia uses to invade and occupy countries. It bears no resemblance to reality.
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While Trump was downplaying the stakes, the reality on the ground looks very different.
The environmental damage in Iran is becoming catastrophic. Israeli strikes on major oil depots around Tehran have released massive quantities of toxic chemicals into the air. Dense black smoke clouds from refineries such as the Shahran facility have darkened the skies over parts of the city.
Reports describe the smoke blocking sunlight and creating what observers have compared to a “nuclear winter” effect.
The pollution includes hydrocarbons, sulfur dioxide, and nitrogen oxides, chemicals that cause severe respiratory problems and eye irritation. Iranian authorities and environmental groups are warning residents to protect themselves as much as possible.
Rain falling through the smoke has mixed with oil and soot in the air, creating what residents are describing as “black rain.” Streets, balconies, and rooftops in parts of Tehran are now coated in oily residue and thick black sludge. Scientists warn the contamination could introduce heavy metals such as nickel and vanadium into soil and groundwater for years to come.
Wildlife is being affected, too. Environmental groups warn that migratory birds crossing the Persian Gulf are flying through the toxic plumes, which can damage internal organs and destroy the insulating properties of their feathers.
At the same time, Iran continues launching retaliatory attacks.
A ballistic missile carrying cluster munitions struck central Israel earlier, leaving a large crater near Jerusalem and causing damage across several cities including Tel Aviv and Petah Tikva. Emergency services say at least six people were injured, including one man seriously wounded in Tel Aviv.
Air raid alerts continued across central Israel Sunday warning residents of additional incoming attacks.
Meanwhile the conflict continues to grow way beyond Israel and Iran.
The United Arab Emirates issued a statement saying it has been targeted by more than 1,400 Iranian ballistic missiles and drones since the fighting began. Emirati officials say the strikes hit infrastructure and civilian areas, killing and injuring residents.
Reports also circulated that the UAE had carried out its first ever strikes on Iranian territory, targeting a desalination facility along the Persian Gulf. But Emirati officials quickly denied that claim, emphasizing that the country does not want to escalate the conflict and does not intend to attack Iran offensively.
Sources close to the UAE government say officials in Abu Dhabi are frustrated by Israeli briefings suggesting they are participating in offensive operations. According to those sources, Israeli officials speaking anonymously to the media have created confusion and risk damaging diplomatic relationships.
Another dangerous escalation involves water infrastructure.
The United States reportedly struck a desalination facility on Iran’s Qeshm Island earlier in the conflict, disrupting freshwater supplies to roughly 30 villages. Soon afterward, Iran targeted a desalination plant in Bahrain.
That may sound like a secondary development, but in the Persian Gulf it’s incredibly significant. Many countries in the region depend heavily on desalinated seawater for drinking supplies. If desalination plants become targets on both sides, the humanitarian consequences could spread rapidly across the region.
Energy markets are already feeling the effects of the war.
Iraq’s oil production has dropped by roughly 60 percent since the conflict began because tankers are unable to safely move through regional shipping routes. The country had been pumping more than 4 million barrels of oil per day before the war. Now production has fallen to about 1.7 to 1.8 million barrels per day.
And perhaps the most dramatic development involves the Strait of Hormuz.
The CEO of Kuwait Petroleum Corporation said tanker traffic through the strait has effectively stopped after Iran warned it could target ships passing through the waterway. Insurance coverage for vessels has collapsed, leaving most shipping companies unwilling to risk transit.
For more than 80 years, oil tankers have moved through the Strait of Hormuz every single day. That precedent has now been broken.
According to Kuwaiti officials, the strait has seen virtually zero traffic for several days, a development that threatens roughly one-fifth of the world’s oil supply.
The economic consequences are already beginning to show up in forecasts. Analysts warn that energy, food, airline travel, and transportation costs, along with related insurance costs, could spike in the coming months. Some projections suggest the Consumer Price Index could climb above 4 percent by April or May as the conflict drives prices higher.
And while all of this is unfolding, the rhetoric coming from some U.S. political leaders has become increasingly extreme.
Fresh off calling this a “religious war,” Senator Lindsey Graham appeared on Fox News Sunday morning and delivered a series of remarks that stunned even seasoned observers of Washington’s war politics.
At one point, Graham held up a hat reading “Free Cuba” and declared that another conflict could soon follow the one in Iran.
“You see this hat?” Graham said while displaying it to the camera. “Free Cuba. Stay tuned. The liberation of Cuba is upon us. We’re marching through the world. Iran is going down and Cuba is next.”
He went even further when discussing the Middle East.
Addressing Arab governments directly, Graham said they should join the fight against Iran if they want to maintain close ties with Washington.
“Now to our Arab friends, you’re being hit too,” Graham said. “If you want a treaty with the United States, you need to get in this fight. America’s not going to the Middle East to fight alone. I’m urging our Arab allies to fight back.”
Then he suggested an even larger escalation could be coming soon.
“You just wait to see what comes in the next two weeks,” Graham said.
When Fox host Maria Bartiromo asked him what that meant, Graham responded bluntly.
“We’re going to blow the hell out of these people.”
That kind of language is now being broadcast across major television networks while the region is already experiencing the largest military confrontation in decades.
And the Fox propaganda machine is working overtime.
During a dignified transfer ceremony for fallen American service members this weekend, Trump was seen wearing a campaign baseball cap — merchandise he is currently selling.
Fox News repeatedly aired footage from a completely different dignified transfer ceremony instead, showing Trump without the hat. In some broadcasts, they played yesterday’s footage, but cropped Trump out entirely.
After people online called out the deception, Fox admitted the footage came from an earlier ceremony and described the incident as a “mistake.” Suuuuuuuuure.
Another troubling example of corporate media propaganda came during NBC’s Meet the Press interview with Iran’s foreign minister.
Trump yesterday publicly claimed that Iran bombed its own school in southern Iran, an attack that killed roughly 175 people, most of them children. But separate investigations by Reuters, CNN, and The New York Times have found evidence suggesting the strike was likely carried out by the United States. Even U.S. officials admitted that it was likely the United States’s fault.
Yet NBC’s Kristen Welker framed the discussion by repeating Trump’s false claim and asking Iran’s foreign minister to respond to it rather than addressing the growing body of reporting contradicting the president.
This is why Trump lies so much. He knows much of the media repeats his lie first and corrects the record later, if it corrects it at all.
The spread of the war isn’t showing any signs of slowing down soon.
Iranian drones recently struck Kuwait, heavily damaging the headquarters of the country’s $140 billion Social Security Fund. The upper floors of the building were still smoldering Sunday morning.
The images out of Iran are nothing short of apocalyptic.
Trump may call this a small detour. But the rest of the world is watching something far larger unfold.
We’ll keep you posted every step of the way here on the MeidasTouch Network as this story continues to develop. Thanks for reading and subscribing.
