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A Couple of Charts (Iran War Edition)

Elections, and wars of choice, have consequences.

Steven L. Taylor
10

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The ongoing economic damage being visited upon us all by the foolish choices of the Trump administration continues to mount. Here are a couple of charts.

First, the bond market is displeased with America, and starkly so.

For more information, see CNN: Global bond yields are surging. Here’s why it matters.

Via the WSJ:

Second, diesel prices. While the graph does not mark the start of the war, I think eagle-eyed readers can figure out where on the x-axis the appropriate date is.

Source: U.S. Energy Information Administration

But don’t worry, none of this is a result of the Iran war. Oh no, it’s just a coincidence that the spike started when it did! Kind of a lag effect, I guess, as Secretary of Energy Chris Wright lets us know that the real culprits are the Ukrainians, the Biden administration, and Gavin Newsom!

Beyond parody — Chris Wright blames Ukraine and Biden for record high diesel prices: "The single biggest factor has been the Ukrainian destruction of Russian refineries … the Biden administration closed over a dozen refineries"

— Aaron Rupar (@atrupar.com) 2026-09-06T13:23:46.372Z

Seriously, who are you going to believe? The hard data, or your befuddled uncle, whom your mother only invited to dinner because she feels sorry for him?

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10 responses to “A Couple of Charts (Iran War Edition)”

  1. Gustopher Avatar
    Gustopher

    Seriously, who are you going to believe? The hard data, or your befuddled uncle, whom your mother only invited to dinner because she feels sorry for him?

    We need to stop this scourge of empathy. Some people should be alone.

    Anyway, I’m assuming there was no meaningful pushback or correction from CNN because there is no meaningful pushback or correction for anything these days — all part of the Grift Culture that has become prevalent in America since the arrival of Trump on the national stage. Say and do whatever you can to benefit yourself, and trust that the consequences will be less than the gains.

    Not that it didn’t predate Trump, but it was his first Presidential campaign that made getting lied to feel good with the whole “take him seriously but not literally” thing. There used to be a certain amount of shame in discovering that you believed bullshit, but now… I don’t think Trump supporters believe anything, they just want to hurt people they don’t like and if the bullshit gives them an excuse to do so, they will “believe” it.

    I am not looking forward to seeing my brothers when I visit my father this fall. I suppose I should just fight fire with fire and make shit up and refuse to even attempt to engage with them. Global warming is caused by the depopulation of beavers because of the French fur trade. Covid was caused by the Clovis people. The homelessness epidemic is caused by the spread of evangelical Christianity. The increase in autism is caused by poor parenting (my brother has a kid who is disabled by autism and will blame it on vaccines).

    My father isn’t great himself, but he’s in his 80s, so each visit might be the last, so I feel obligated. Plus, he may be evil (he admires Pinochet, so he’s pretty evil), but he lives in a world where facts matter.

    ——
    Also, one would have thought that fascism would have gotten at least token opposition from our press.

    1. Eugene Avatar
      Eugene

      One would have thought a lot of things that haven’t turned out to be the case. 🙁

  2. JohnSF Avatar
    JohnSF

    The bond prices seem to be driven by both US and global factors.
    There are widespread doubts about the sustainability of the current debt and deficit levels in the OECD.
    And this in increasingly spilling into market views of US bonds, given the economic incoherence of the Trump administration, inflation levels, and Trumps repeated attempts to bully the Fed.

    In addition, there is currently obvious alternative places to park dollar holdings: the US stock market, and US corporate bonds, both buoyed by huge demands for capital of the US AI datacentre build-out.

    1. Eugene Avatar
      Eugene

      I think they’re sustainable for as long as investors don’t want to get their principle back.

      Or need to. 🙁

      1. JohnSF Avatar
        JohnSF

        Well, as per now the interest rates offered by US corporate bonds look pretty good.
        Average about 5%, some up to 7%.
        That’s pretty juicy, and at least in theory, secured creditors.
        Shares may offer better possible capital appreciation, though more downside risk.
        Though I suspect even the bonds are not fully pricing in the possible downside.
        Given my doubts about the whole data centre/AI enthusiasm, I’d avoid.
        tmmv
        But the main thing is: alternative investments to government bonds are driving up govt debt financing costs everywhere.

        This is a serious problem for the upcoming UK budget.

        1. JohnSF Avatar
          JohnSF

          Also, there is the political aspect of US bonds with a loony Trump vs the Fed
          And why European banks are shifting balances to non-dollar assets, and moving such outside the US.

          Including actual physical gold, hilariously enough.
          I say hilariously, because the entire post-WW2 financial/currency system was meant to avert such, and above all to make holders of US assets confident the US govt would not screw them.

          Things are changing.

  3. dazedandconfused Avatar
    dazedandconfused

    Well I, for one, am at a loss. Gas prices still going up after renaming TWO bodies of water? What’s it gonna take??

    2
    1. Michael Cain Avatar
      Michael Cain

      Renaming land. Today he posted that New Mexico should be renamed New America.

      1. Ken_L Avatar
        Ken_L

        That will be waved off as a joke, of course. Just as a claim he intended to rename Lake Ontario would have been any time until he did it.

  4. Ken_L Avatar
    Ken_L

    President Trump is closing in on one of Sleepy Joe’s records in less than half the time. So much winning!

    Number of weeks average cost of U.S. All Grades All Formulations Retail Gasoline exceeded $4 a gallon:
    – Under 48 months of Biden: 24
    – Under 19 months of Trump term 2: 21
    Source: U.S. Energy Information Administration

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