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Trump Just Fed America a Sh*t Sandwich

Understanding Trump’s ceasefire/surrender—and what comes next.

Jonathan V. Last's avatar
Jonathan V. Last
Apr 08, 2026
∙ Paid
Guys come up to me. Big, strong guys with tears in their eyes. And they say, “Sir! Sir! We are sick and tired of all the winning. Couldn’t we lose, just this once?” (Photo by Brendan Smialowski-Pool/Getty Images)

1. Told You So

We have a bunch of contradictions to keep in our heads today and it’s not going to be fun. But first I want to underline the value proposition of this newsletter: I told you from the beginning that we were likely to get war. I told you it wasn’t going to be a quick in-and-out affair like the Venezuela raid because (1) Israel wanted it; (2) Trump believed he could win a war; and (3) Iran believed that by absorbing punishment for a brief period they could improve their position since Trump would eventually have to bribe them to allow America to exit the war.

Let’s try to see around the next corner, right now.

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