Today let's follow the money, the casualties, and the real-life consequences of the 2026 Iran conflict. With billions spent, American lives lost, oil prices soaring, and Iran's regime still standing, the question isn't even whether the war was costly, it's: did the United States achieve anything at all? And who really benefited from the outcome?

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SHOW NOTES & CITATIONS

The War — Background and Timeline
• 2026 Iran War — Wikipedia: https://en.wikipedia.org/wiki/2026_Iran_war
• Timeline of the 2026 Iran War — Wikipedia: https://en.wikipedia.org/wiki/Timeline_of_the_2026_Iran_war
• The Iran Strikes, Explained — American Jewish Committee (AJC)
U.S. Military Casualties: https://www.ajc.org/news/the-iran-strikes-explained-how-we-got-here-and-what-it-means
• 13 US Troops Killed, More Than 380 Wounded in Operation Epic Fury — Military Times, April 8, 2026: https://www.militarytimes.com/news/your-military/2026/04/08/pentagon-data-13-us-troops-killed-346-wounded-in-operation-epic-fury/
• Latest Operation Epic Fury Data: 365 US Troops Wounded, 13 Dead — Military.com, April 4, 2026: https://militaryspend.org/iran-war-casualties
• Iran War Casualties Tracker — MilitarySpend.org
Aircraft and Equipment Losses
• 42 Aircraft Lost or Damaged in Operation Epic Fury, Congressional Report Says — Stars and Stripes, May 20, 2026: https://www.stripes.com/branches/air_force/2026-05-20/iran-jets-downed-war-fury-21727588.html
• US Lost 42 Aircraft in Iran War — The Hill, May 2026: https://thehill.com/policy/defense/5889060-iran-war-toll-us-aircraft/
• The US Has Lost More Than 40 Aircraft in 40 Days Over Iran — AeroXplorer: https://aeroxplorer.com/articles/the-us-has-lost-more-than-40-aircraft-in-40-days-over-iran-and-congress-is-only-now-finding-out-how-much-it-all-cost.php
• US Military Equipment Worth Billions Destroyed in Iran War — Al Jazeera, April 30, 2026: https://www.aljazeera.com/news/2026/4/30/us-military-equipment-worth-billions-of-dollars-destroyed-in-iran-war
Iranian Civilian Casualties
• Nearly 1,500 Iranian Civilians Killed in U.S., Israeli Strikes — Washington Post, March 27, 2026: https://www.washingtonpost.com/national-security/2026/03/27/iran-war-civilian-deaths/
• Casualties of the 2026 Iran War — Wikipedia: https://en.wikipedia.org/wiki/Casualties_of_the_2026_Iran_war
• The Human and Environmental Costs of the War in Iran — Center for American Progress: https://www.americanprogress.org/article/the-human-and-environmental-costs-of-the-war-in-iran/
Diplomatic Situation — The Deal That Isn’t
• Middle East Grapples With the Downsides of a Trump Deal With Iran — Wall Street Journal, May 2026
• Trump Says a Deal for Talks With Iran to End War Is Near Finalization — Wall Street Journal
• What Will Trump Do Next With Iran? — NPR, May 23, 2026: https://www.npr.org/2026/05/23/nx-s1-5832542/trump-iran-decision
Economic Impact — Oil, Inflation, Energy
• Economic Impact of the 2026 Iran War — Wikipedia: https://en.wikipedia.org/wiki/Economic_impact_of_the_2026_Iran_war
• Middle East War to Spark Biggest Energy Price Surge in Four Years — World Bank, April 28, 2026: https://www.worldbank.org/en/news/press-release/2026/04/28/commodity-markets-outlook-april-2026-press-release
• Implications of the Iran War for U.S. Inflation — Dallas Federal Reserve, April 2026: https://www.dallasfed.org/research/economics/2026/0417
• Quantifying the Impact of the Iran War on US Inflation — CEPR — Centre for Economic Policy Research: https://cepr.org/voxeu/columns/quantifying-impact-iran-war-us-inflation
• How the War in the Middle East Is Affecting Energy, Trade, and Finance — International Monetary Fund, March 2026: https://www.imf.org/en/blogs/articles/2026/03/30/how-the-war-in-the-middle-east-is-affecting-energy-trade-and-finance
• ‘Misplaced Euphoria’: Markets Are Sleepwalking Into a Recession Amid Iran War Oil Price Shock — CNBC, May 2026: https://www.cnbc.com/2026/05/04/strait-hormuz-gas-price-oil-shock-recession-risk-economy-iran-us-war.html
• Iran Conflict and the Strait of Hormuz: Impacts on Oil, Gas, and Other Commodities — Congressional Research Service
China, Russia, and the Dollar
• How Russia and China Are Winning the War in Iran — Peterson Institute for International Economics (PIIE): https://www.piie.com/blogs/realtime-economics/2026/how-russia-and-china-are-winning-war-iran
• U.S. Dollar Dominance, Reserve Currency Status Debated Amid Iran War — CNBC, April 2026: https://www.cnbc.com/2026/04/16/us-dollar-dominance-reserve-currency-iran-war-oil-china.html
• In Strait of Hormuz, Iran and China Take Aim at US Dollar Hegemony — Al Jazeera: https://www.aljazeera.com/economy/2026/4/8/in-strait-of-hormuz-iran-and-china-take-aim-at-us-dollar-hegemony
• The Petrodollar: What Saudi Arabia’s Quiet Exit Means Now — Fortune, April 2026: https://www.aljazeera.com/economy/2026/4/8/in-strait-of-hormuz-iran-and-china-take-aim-at-us-dollar-hegemony
• How the Iran War Could Speed the Decline of the US Dollar — MoneyWeek: https://moneyweek.com/economy/us-economy/the-end-for-the-us-dollar
The Cult of Personality — GOP Context
• The Republican Party Is Nothing More Than a Cult of Trump — Reason Magazine — J.D. Tuccille, May 22, 2026: https://reason.com/2026/05/22/the-republican-party-is-nothing-more-than-a-cult-of-trump/

Trump: Yawnbox, CC BY-SA 4.0 https://creativecommons.org/licenses/by-sa/4.0, via Wikimedia Commons