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LARRY KUDLOW: Iran doesn’t have a War Powers Act

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LARRY KUDLOW: Hormuz will not stop history

Not being a lawyer, I don’t know if the House passage yesterday to end the war in Iran is constitutional or not. And if it ever passes the Senate, President Trump will veto it, and he’ll be right to do so. 

Here’s what I do know: it’s stupid. It’s also unpatriotic. It also interferes with Mr. Trump’s commander in chief responsibilities to destroy a radical Islamist regime that has spent the last 47 years developing nuclear weapons and sponsoring terrorism in order to bring “death to America.” Also “death to Israel.”

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Here’s what Mr. Trump said on Truth Social this morning: “Yesterday, in a meaningless vote, the House voted, 4 bad Republicans and all of the Dumocrats, to limit my War Powers, right in the middle of my final negotiations to end the War with the Islamic Republic of Iran. Who would do such an unpatriotic thing. They know where the negotiations stand. The Democrats are fueled by Trump Derangement Syndrome. They would rather have our Country fail than give me another, of many, victories…”

Again for me, not being a lawyer, when you add up the days of actual kinetic military bombing, the United States hasn’t nearly hit 60 days, which is in the War Powers Act. The bombing was 37 days from March 1 to April 7. The ceasefire has gone from April 8 to today June 4, which is 57 days. So when you actually look at the numbers, Mr. Trump has 20 days in the bank. He never hit 60, not even close. But who’s counting?

Democrats don’t care about Iran’s nuclear capabilities or their Nazi-like inhuman government that directly sponsored the slaughter of 1,200 Israelis and others, and reportedly over 40,000 of their own Iranian citizens this year alone.

And as the New York Sun points out, implementing the War Powers Resolution applies only to one side. It doesn’t prohibit the Iranians from attacking us or attacking Israel or any of our gulf state allies in the region. Iran doesn’t have a War Powers Act.  

The Democrats don’t think Iran is our enemy.

Having said all of that, I’m sure Mr. Trump will just continue to bury Iran, he’ll make a good deal. His red lines are holding and that’s terribly important. Yet I will say this: many Trumpian supporters, both military and non-military alike, including myself, wish we would open up the Strait of Hormuz. This would generate more public confidence in the war, it would lower gasoline prices, and it would tell Iran that they cannot control this key waterway.

Last evening I spoke to a retired Navy Seal, Mike Sarraille, about this whole issue of opening up the Strait and here’s what he said: I explained to him that “a lot of people are waiting for a return to Project Freedom to open up the strait, because we’re promised this. We have the military capabilities to do it, but we haven’t quite followed through. Perhaps there are important reasons for that, but I thought you could help us out on it.” 

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Mr. Sarraille replied: “It would be a priority of mine,” adding, “But hit the coastal offensive capabilities of Iran. That’s their drones, their missiles, as well as the Mosquito, or if you want to call it the fast attack fleet. Remove the problem while those negotiations are going on with Iran and keep the blockade in place.”

So a retired Navy SEAL, like many military people, believes we can do it. And let’s go back to Project Freedom, let’s open it up. And one point I’ll make again, repeat this, not only just to get energy and gasoline prices down, but to show and tell Iran, you cannot control the Strait, period, full stop.

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Confidence level of industry improving: KV Kamath, ICICI Bank

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ET Now caught up with KV Kamath, Chairman, ICICI Bank, for his expectations from the Narendra Modi government as well as the Budget. Excerpts:

ET Now: Talking of expectations from Narendra Modi, do not you think too much hope and money in essence is riding behind one man? Despite his good intentions, there are structural problems in the economy and even the Prime Minister does not quite have a magic wand?

KV Kamath: If you look back to 10 years ago, the economy was getting into near double digit growth even with all the structural problems. Now you have a leader who has a known bias for fixing things and making sure that things work. It is the same set of structure, the same set of people who are driving this. You have the right leader who can drive the effort.

ET Now: The other day we had Mr. Birla meet the Finance Minister and as he walked out of the meeting, he said he expects the economy to revive in three to six months. He says he is going to start investing in India now. We have not heard too many corporate leaders say that. You have a pulse of the mood of corporate India. When do you think will the corporate leaders start investing?

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KV Kamath: The first sense comes from the market. It is the collective wisdom of the marketplace that there is action and we will move with speed. That improves the confidence level of industry. Now we need to see whether some of the ground conditions that are needed for people to get back to an investment mode are going to change. Today I read that with a large slate of reforms or projects which have been stuck are going to be addressed in the next few days. If that happens, you will see a sea change in the investment mindset, as it were.

ET Now: It could happen in three months itself. Is that what you think?