Donald Trump’s war against Iran is already turning out to be a military, diplomatic, environmental, and humanitarian disaster. But none of this seems to matter to the president, who has been remarkably complacent and dishonest about the crisis he has caused. Last Sunday, in a video about the death of US soldiers, Trump said, “And sadly, there will likely be more [deaths] before it ends. That’s the way it is. Likely be more.” Asked if Iran could possibly retaliate with attacks on US soil, Trump said, “I guess.” He added, “Like I said, some people will die. When you go to war, some people will die.” When asked about the bombing of a primary school in Minab that killed at least 165 people, mostly children, Trump simply lied, saying, “That was done by Iran.” In fact, all available evidence overwhelmingly points to US guilt in the atrocity.

As a narcissistic authoritarian, Trump is naturally indifferent to the human costs of war. Nor does he show any concern for how his reckless aggression is alienating US allies in the region and around the world. As Iran has proven surprisingly resilient in hitting back at US military bases and allies, Trump has thrown out any regard for the rules of war, with horrific strikes on oil depots making the air above Tehran and other cities unbreathable.

But if human misery has no effect on Trump, the economic shock caused by his war is another matter—not because Trump cares about the suffering caused by a sputtering economy, but because he understands that economic chaos is a political problem for him. In the past, Trump has shown that while he is happy to ignore Congress or other outside critics, he pays attention to the stock market. It was a steep market correction in the spring of 2025 that first convinced Trump to temper his initial aggressive push for steep tariffs.