Friday, 27 March 2026

Between Exit and Escalation: A War Slipping Beyond Control

The evolving US-Israeli war on Iran has pushed Donald Trump into a strategic trap—one defined not by a lack of power, but by a lack of viable options. What was conceived as a limited campaign to reassert deterrence is steadily transforming into a conflict that resists containment, reshapes global markets, and erodes political capital at home. 

A month into the war, the contradictions are stark. Washington sought a short, decisive engagement; instead, it faces a resilient Iran that has shifted the battlefield from military confrontation to economic disruption. By tightening pressure on the Strait of Hormuz and sustaining missile and drone operations, Tehran has leveraged geography and endurance to impose costs far beyond the immediate theatre of war.

The consequences are already visible. Rising global energy prices are no longer an externality—they are a direct political liability. For an administration navigating fragile domestic support, the economic ripple effects risk becoming more damaging than the conflict itself. Approval ratings slipping into dangerous territory underscore a deeper problem - this war is losing its political legitimacy at home even as it remains strategically unresolved abroad.

This leaves Trump with choices that are stark but deeply constrained. A negotiated exit appears increasingly elusive. Diplomatic overtures, including reported backchannel proposals, demand concessions that Iran has historically rejected. Even if a deal were reached, it would likely be seen as a retreat—undermining the very premise on which the war was launched.

Escalation, meanwhile, carries even greater risks. Expanding military operations or deploying ground forces could entangle the United States in a prolonged conflict—precisely the kind Trump has repeatedly vowed to avoid. The shadow of past wars in Iraq and Afghanistan looms large, not just in strategic calculations but in public memory. Any move in that direction risks accelerating domestic backlash and fracturing political support.

Analysts such as Jonathan Panikoff have pointed to a fundamental flaw: the absence of a clearly defined and achievable endgame. Without clarity on what constitutes success, each tactical move risks deepening strategic ambiguity.

Meanwhile, as Jon Alterman notes, Iran’s strategy appears rooted in a far simpler objective—endure and outlast. In such a framework, survival itself becomes victory.

This asymmetry is critical. The United States seeks a decisive outcome; Iran seeks persistence. The longer the conflict continues, the more it reinforces the perception that time is not on Washington’s side. Every passing week tightens the strategic bind, amplifying economic disruption, unsettling allies, and testing domestic patience.

Trump’s shifting signals—alternating between threats of escalation and gestures toward diplomacy—reflect an attempt to manage this narrowing space. But such contradictions, while tactically useful, risk creating uncertainty among allies and markets alike.

As Laura Blumenfeld observed, this “fog of war” messaging may keep adversaries guessing, but it also underscores the absence of a coherent pathway forward.

What began as a war of choice is edging toward a loss of control. The longer the conflict persists, the narrower Washington’s options become—diplomacy without leverage, escalation without certainty, and a domestic landscape growing increasingly unforgiving. 

This is no longer about achieving decisive victory; it is about managing the consequences of a strategy that has outpaced its own assumptions. For Trump, the dilemma is no longer theoretical. It is immediate, structural, and tightening by the day.

PSX Benchmark Index Down 0.68%WoW

Pakistan Stock Exchange (PSX) witnessed persistent volatility during the week, mainly shaped by Middle-East conflict and resulting fluctuations in international oil prices. The benchmark index registered erosion of 1,033 points or 0.68%WoW to close at 151,708 on Friday, March 27, 2026.

Week began on a positive note, supported by emerging de-escalation efforts with Pakistan acting as a mediator; however, gains were eroded in last two trading sessions as conflicting statements from the United States and Iran heightened uncertainty.

On the domestic macro front, cut-off yields in Thursday’s PIB auction increased by 90-225bps, with 5-year paper yield rising to 12.5%.

Moreover, Barrick Mining Corp extended the review period of Reko Diq by 12 months in light of ongoing Middle East conflict and escalation of domestic security issues. The aforesaid developments weighed on Bank and E&P sectors.

IMF shared MEFP draft with Pakistan, marking progress towards SLA for third review.

Amid the ongoing energy situation, GoP reduced the PSDP allocation by PKR100 billion to accommodate fuel subsidies, to maintain domestic petroleum prices in last two reviews, with an estimated two-week cost of PKR69 billion.

Market participation rebounded post-Ramadan, with average daily traded volumes surging to 872 million shares from 418 million shares in prior week.

Foreign exchange reserves held by State Bank of Pakistan (SBP) increased by US$22 million to US$16.4 billion as of March 18, 2026.

Other major news flow during the week included: 1) Pakistan secures petroleum cargoes till April 25, 2) Foreign assistance inflows were up 18.35%YoY to US$5.862 billion during 8 months of current financial years 3) NEPRA okays competitive bidding for power supply, and 4) Domestic cotton prices jump sharply amid Middle East crisis.

Top performing sector of the week were Technology, Inv. Banks, and Cements while laggards included Refinery, Power, and E&P.

Major selling was recorded by Insurance and Banks with a net sell of US$12.5 million and US$6.8 million, respectively. Individuals absorbed most of the selling with a net buy of US$20.0 million.

Top performing scrips of the week were: SYS, PGLC, INIL, BNWM, and PIBTL, while laggards included: KTML, SSGC, KEL, SAZEW, and GAL.

Going forward, market sentiment will hinge on developments of the Middle East conflict. At the same time, investor focus will remain on the government’s energy conservation measures, diversification of fuel imports, and progress on the IMF review.

According to AKD Securities, over the medium term, any de-escalation in the conflict could spark a strong market rebound, as recent corrections have made valuations more attractive, with forward P/E now at 6.4x.

Top picks of the brokerage house include: OGDC, PPL, UBL, MEBL, HBL, FFC, ENGROH, PSO, LUCK, FCCL, INDU, ILP and SYS.

US–Israel War on Iran: Dominance Under Question

The brief but intense confrontation between the United States, Israel, and Iran in June 2025—lasting barely twelve days—was projected as a calibrated show of force. Officially concluded as a ceasefire, the episode aimed to restore deterrence and reset strategic equations. Yet, nearly nine months later, the outcomes appear far less definitive than anticipated.

At the time, negotiations over Iran’s nuclear program were reportedly progressing. The sudden escalation suggested a shift from diplomacy to coercion, widely interpreted as an attempt—driven in part by Israeli pressure—to achieve multiple objectives: degrade Iran’s strategic infrastructure, weaken its regional posture, and potentially trigger internal instability. None of these goals, however, seem to have been fully realized.

There is little doubt that Iran’s strategic installations suffered damage. However, the broader political and military picture is more nuanced. The Iranian regime has remained intact, and domestic cohesion appears to have strengthened rather than fractured. External pressure, instead of splintering the state, may have reinforced national resolve—an outcome not unfamiliar in modern conflict settings.

Equally significant is the perceptual shift. The image of unquestioned military supremacy long associated with the United States and Israel appears to have been dented. Iran’s ability—both real and projected—to respond through retaliatory actions against regional targets and US-linked assets has complicated the narrative of one-sided dominance.

Reports and claims emerging from the conflict add further complexity. Iranian officials have asserted successful targeting of military assets and bases, while some unverified accounts point to disruptions in logistical and maritime supply lines, including incidents in strategically sensitive waterways and installations in the broader Indian Ocean region. While these claims remain contested, they nonetheless contribute to a narrative of reach and resilience that Tehran appears keen to project.

The latest signals from Donald Trump—indicating a pause or deferral in further strikes on Iran’s strategic assets—have deepened speculation. This could reflect tactical recalibration, but it also raises the possibility of operational limits rather than purely strategic choice. In contemporary conflict, pauses often reveal as much as offensives.

What emerges, therefore, is not a clear victory for any side, but a reminder of limits. Military power, even when overwhelming, does not automatically translate into decisive political outcomes. Short wars can disrupt, degrade, and demonstrate—but they rarely resolve deeply embedded strategic rivalries.

For Iran, the ability to absorb pressure and maintain internal stability can be framed as a form of strategic endurance. For the United States and Israel, the episode underscores the complexity of converting battlefield advantage into lasting geopolitical gains. The balance of power may not have fundamentally shifted—but its boundaries have certainly been tested.

In the end, the twelve-day war—and the weeks that followed—reinforce a familiar lesson - in geopolitics, outcomes are rarely as clear-cut as intentions.

Thursday, 26 March 2026

Over One Million Americans Say Impeach and Remove Trump

The legal advocacy organization Free Speech for People on Thursday published a full-page advertisement in The New York Times highlighting the more than one million people who have endorsed the group’s petition to impeach and remove President Donald Trump from office.

Free Speech for People’s (FSFP) campaign—which also includes billboard trucks and projections in Washington, DC—comes ahead of the third wave of “No Kings” demonstrations, which are set to take place Saturday in thousands of locations across the United States.

“On March 28, 2026, the people will rise up,” said FSFP digital organizing strategist Jax Foley. “The No Kings 3 protest is projected to be the largest mass comobilization in US history, with over 3,000 actions planned worldwide. People across this country are organizing, mobilizing, defending their communities, and demanding accountability.”

No Kings 3 comes amid Trump’s attacks on the rule of law and constitutional rights at home and escalating militarism abroad as the president has bombed seven countries since returning to office—and 10 or possibly even 11 over the course of his two terms—while backing Israel’s genocidal war on Gaza.

“Donald Trump poses a direct threat to our Constitution and to the rule of law,” FSFP president and co-founder John Bonifaz said in a statement. “The constitutional remedy of impeachment exists precisely for moments like this when a president abuses power, defies the law, and attacks democracy itself. Congress must act.”

FSFP’s petition, which was launched on the day of Trump’s second inauguration, urges Congress to “take action to defend our republic and Constitution” by impeaching the president again. As of Thursday afternoon, the petition had over 1,070,000 signatures and is more than halfway to its goal of 2 million signers.

“For more than a year, FSFP’s team of lawyers, election security experts, and grassroots organizers have been tirelessly and fiercely leading the campaign to impeach and remove Trump and key administration officials,” Foley said. “We have heard from people across the United States who are with us in the call for no kings, no tyrants, and the immediate impeachment and removal of Trump and his coconspirators. Put the power back in the hands of We The People.”

Trump is the only US president to be impeached twice—once in 2019 for abuse of power and obstruction of justice and again in 2021 for incitement of insurrection. A majority of senators voted to acquit Trump in 2019; a majority—but not the requisite two-thirds—voted to convict in 2021. Both chambers of Congress are now narrowly controlled by Trump’s GOP.

“The congressional power of impeachment is designed to address this tyrannical threat to our democracy,” FSFP said in the New York Times ad. “Members of Congress must abide by their oath to protect and defend the Constitution and impeach and remove Trump from office.”

Courtesy: Common Dreams

 

Two Wars One Outcome: Failure

At first glance, Israel’s war in Gaza and the US-Israel confrontation with Iran appear fundamentally different—one a confined urban battlefield, the other a vast geopolitical contest. Yet both reveal a shared strategic failure: the inability to convert overwhelming military superiority into decisive control.

In Gaza, Israel entered with clear advantages—proximity, intelligence dominance, and unmatched firepower. The expectation was swift dismantling of resistance and consolidation of control. Instead, the conflict has proven stubbornly complex. Urban warfare, asymmetric tactics, and deeply embedded resistance networks have turned territorial gains into a costly and reversible exercise. Control, despite boots on the ground, remains contested.

The Iran theatre presents an even sharper limitation. While the United States and Israel possess unquestioned military superiority, geography alone alters the equation. Iran’s size, terrain, and strategic depth make ground invasion prohibitively costly and politically untenable. Without physical occupation, the objective of “complete control” becomes inherently unrealistic. Airstrikes and missile campaigns may degrade capabilities, but they cannot impose authority.

This contrast exposes a deeper flaw in strategic thinking. If control cannot be secured in Gaza—despite proximity and ground operations—it is even less attainable in Iran, where occupation is off the table. Military power, in both cases, reveals its limits: it can destroy assets, but not command legitimacy.

Iran, however, adds another layer to this equation—endurance. Decades of sanctions have forced adaptation. Indigenous capabilities in missiles, drones, and air defense are products of necessity, not choice. More importantly, Iranian society has internalized resilience under pressure, blunting the impact of external coercion.

Equally telling is the political outcome. Attempts to incite internal dissent against Iran’s clerical leadership have largely failed. External pressure, rather than weakening the regime, appears to have reinforced it. History suggests this is no anomaly—external threats often consolidate internal cohesion.

The parallel, therefore, is not about identical conflicts but about identical miscalculations. In both Gaza and Iran, there is a persistent overestimation of what military force alone can achieve. Territory is not merely land—it is people, perception, and political acceptance. Without these, control remains an illusion.

Tuesday, 24 March 2026

Iran sinks US Ship carrying 30,000 Interceptors

Please watch and save this video, because shortly it may be removed. This narrates a story of Iran sinking a US Supply Ship USNS Robert E. Peary in Red Sea, where 30,000 interceptors were lost in 20 minutes. To hear details click https://youtu.be/WqAPNl-36NU?si=f-2ngZJCnc96BVCt

Mystery about Iran’s attempted strike on Diego Garcia base

Mystery about Iran’s attempted strike on Diego Garcia base
When an attempted strike of Iran on a British base became a headline, the world was astonished. Most of the people hardly had any knowledge about this base, and on top of all the distance of Iranian missile covering 4,000 kilometers was taken as a propaganda stunt. I request the viewers to listen to this brief video clip and decide if it is a publicity stunt or the harsh reality. To watch video clip, click https://youtube.com/shorts/T8Esh-e_cCw?si=bhWrDa-FPmCSsaG1