As the Biden regime continues to play its no-win game of “whack-a-mole” with Houthi terrorists, many marine insurance underwriters are refusing to cover US or UK-flagged or owned ships in the Red Sea. This adds as much as two weeks onto delivery times, disrupting supply chains and adding over a million dollars per round trip in extra fuel and crew costs.
This is heading toward a disaster for European supply chains, a nasty increase in prices in the US, a budget crisis that will make Egypt more unstable than it already is, and an unprecedented diminution in American prestige and our ability to prevent wars.
While I’ve pointed out that the Biden strategy of firing a few missiles at a few Houthi targets will not work, Joe Biden and his brain trust refuse to take the matter seriously.
Quite honestly, I’ve never been sure what the strategy was here, but we’ve created a situation where the Houthis are not cowed, and our naval power is not sufficient to soothe maritime insurance syndicates.
Between Biden’s cavalier attitude and the observable results, this is starting to look like a tabletop exercise in how to create regional instability and a global economic downturn.
Perhaps most important is US prestige. American diplomatic, economic, and military influence has kept the peace since 1945. Biden’s timidity and the collection of third-string midwits that he’s moved into critical positions are shattering that hard-won credibility.
R&I ~ MJM
DGM