Ham on Iran: Trump Waved the ‘Jones Act,’ Which Only Allowed American Ships at American Ports, a ‘Reminder to Us’ on How the Free Market Works

RUSH EXCERPT:
HAM: "Iran currency and the economy were in bad shape at the beginning of this year. We’re now four months in with the currency and economy taking this hit which makes it worse for them. Juan is right. This is a contest of who is willing to take the economic and domestic pressure put upon them but there is a wrinkle here where the Iranian folks in charge are able to pay a bunch of money from oil revenues to the guys who have the guns that keep everybody under their thumbs and eventually if this goes on you do run out of that at some point. I think they are religious zealots so they will last for a while but another interesting wrinkle is Trump has decided to release some of the pressure on himself by waving the Jones act which is a protectionist shipping thing that only allows American ships to go to American ports so now there is a bunch of trade in American ports that’s bringing prices down. It might be a reminder to us about how the free market works in general and maybe it would help us with prices for the rest of the time."