Today we also have an important post by Rob Urie that starts with an important discussion of the Iran war, including discussion of fresh developments. The US is engaging in an ongoing assault by imposing a blockade just beyond the Strait of Hormuz. Iran is now out to displace Trump as the driver of events, and even more critically, of overall pacing and intensity. The second risk, and this is particularly dangerous, is it makes President Trump a cornered animal. With President Trump though, as he becomes increasingly desperate to find an off-ramp where none now exist, Iran does risk significant escalation from the United States.