The economic meltdown is gaining momentum
The David Pakman Show - March 20, 2026
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The situation with Iran is escalating into a potential global energy crisis. Missile strikes hit Qatar’s Ras Laffan facility, which produces about 20% of the world’s liquefied natural gas, raising fears of prolonged shortages and price spikes. Gasoline could reach $7–$9 per gallon, factories may slow, coal use could rise, and global supply chains could be strained for years.
Congressional hearings with FBI Director Kash Patel have sparked concerns about political influence over national security. Patel struggled to explain the firing of counterintelligence agents specializing in Iran and avoided clear answers about alleged non-citizens voting.
During an Oval Office meeting with the Japanese prime minister, Donald Trump compared the U.S. attack on Iran to Japan’s attack on Pearl Harbor. The prime minister looked uncomfortable, as the remarks were both inappropriate and historically insensitive.
Rising energy costs are creating major domestic problems for Trump. Gas prices have surged over 40% in just over two months, driven by the Iran conflict and tariffs, while oil, diesel, and fertilizer costs are increasing food and transportation prices.
Within the Republican Party, Marco Rubio is emerging as a more likely successor to Trump than JD Vance. Rubio’s visibility on foreign policy, including Iran, and his more competent public presence have shifted donor support. Reports suggest major donors are positioning Rubio for a potential 2028 run.
Trump is also losing support among voters and influencers. Some longtime supporters are publicly admitting they made a mistake as rising costs and conflicts expose the gap between his promises and reality. Even partial erosion of loyalty could hurt Republicans in November.
Finally, a major MAGA influencer has publicly declared the movement “dead” and said she no longer recognizes Trump. Her reversal reflects the growing gap between Trump’s promises and reality.
On today’s bonus show:
The staggering costs of the war in Iran, and much more...
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"Greatest god-damned, can-do country in the world!"
And yet, the words I heard decades ago, but didn't believe, keep ringing more true each day....
"The Great Satan" 😥😢
When Japan attacked Pearl Harbor FDR memorably called it a day that will live in infamy. It galvanized the American people like nothing before in our history.
What on earth makes Trump and his minions think that his sneak attack on Iran will do anything but solidify the people of that country, including especially those whose relatives have been killed and whose homes have been destroyed, to react in anything but the same way.
What on earth makes Trump and his minions think that demanding unconditional surrender from a culture that glorifies martyrdom and vengeance will do anything but create the sort of nightmare scenes that the U.S. military experienced in WWII Pacific campaigns if he puts boots on the ground.
What on earth makes him think that having his Little Fighting Cock Pete Hegseth call for a war where no quarter is given (ie no prisoners will be taken) will do anything but ensure the deaths of any American soldiers captured during this war.
When Liz Cheney said that one day Trump would be gone but the stain of dishonor would remain on Republican leaders forever, she was referring to J6. That was before the Epstein coverup, before the crass corruption of the Trump family, before this ill-fated war. The word dishonor is no longer a strong enough a condemnation of Republicans who lack the courage to confront this demented president and his sociopathic secretary of warmaking.
The Grand Old Party of Honest Abe Lincoln has mutated into the (lower case gop) gutless obsequios puppets of pathological liar Donald Trump. There is more backbone in a bowl of chicken noodle soup than there is in the Republican party leadership.