William Katz:  Urgent Agenda

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IRAN AGAIN – AT 12:47 P.M. ET:  The attention has been on our economy and the endless investigations going on in Washington.  One of the most important stories is being overlooked, and that is Iran's growing belligerency.  Tehran is now threatening to disrupt the sea lanes in its region, which could cripple the transport of oil.  Washington is not amused.  From CNN:

Washington (CNN) As tensions between the US and Iran ratchet up, the Trump administration is looking at what military options may be needed to keep vital waterways in the Middle East open in the wake of attacks on Saudi oil tankers by Iranian-backed Houthi rebels on July 25, according to two administration officials.

Both officials emphasize that if any military action is taken it would be carried out by US allies in the region, such as the Saudis, and not by US forces. The US military already provides support in the form of intelligence sharing to the Saudis in their fight against the Iranian-backed Houthi rebels in Yemen. And while the US sends ships and aircraft into the region on a regular basis, any long-term military effort would require the involvement of other nations, officials say.

Gen. Joseph Votel -- head of US Central Command, overseas US military operations in the Middle East -- has been traveling in the region this week meeting with counterparts and held a conference of regional commanders to discuss security concerns. A spokesman said the meeting was long scheduled and it's not known how detailed the discussions were on commercial shipping. It is also not known if any action to keep the waterways open is imminent .

Concerns have been growing for days as Iranian officials have increased verbal threats against shipping in the Persian Gulf and through the choke point at the Strait of Hormuz.

Earlier this week, a US Navy warship passed through the Strait of Hormuz without incident but concerns about potential problems in the future have escalated as the Iranians have stepped up their rhetoric to threaten that waterway.

COMMENT:  Our firm verbal response to Iranian threats is significant, and a contrast with the anemic behavior of Field Marshal Barack Obama and Grand Admiral John Kerry.  They pretty much let Iran, and every other enemy, run free.  The Iranians, who are not dumb, and are among the world's most sophisticated negotiators, understand that they're now dealing with a new sheriff, and that they could get hurt if they go too far.

We should be prepared for the possibility that Iran will harass, but not attack, American warships. 

July 28,  2018