As I read Trump say he’s in no hurry to end the war with Iran, I was reminded again of this post from Adam Kotsko:

My overarching question throughout the second Trump administration has been: why hasn’t the other shoe dropped?

… I believe that the answer to this tangle of questions is relatively straightforward: money. American society is largely able to absorb Trump’s destructive actions because we’re the wealthiest nation that has ever existed. And America’s erstwhile allies and trading partners adapt to his behavior because they figure there is still money to be made and any attempt to stand on principle or rein him in would endanger the flow of money. The same is true on the corporate level, as the biggest multinationals have more than enough resources to smooth out the impact of tariffs on consumer prices, for instance by building up huge inventories before they came into effect.

Even the muted response to the closure of the Strait of Hormuz—through which 20% of the world’s staple fuel, as well as countless crucial chemical inputs, have been prevented from flowing—can be chalked up to the cushion that wealth provides, as many countries have built up considerable fuel reserves since the last time the ruler of a major nation got it into his head to do something stupid and disruptive. The situation is certainly regrettable. It’s not what any of them would have chosen. But they can move some things around and make it work. Kings change and kingdoms change, but capitalist accumulation endures forever.

Will we ever burn through these mountains of money and face the consequences of our actions? God only knows.