The joke tonight is that Trump went to Iran for regime change and he got it, only in the USA.

The numbers so far are ghastly for Republicans in a huge blue wave, including multiple major upsets and a possible Senate majority so large it will be nearly impossible to reverse for 4-6 years.

There is still plenty of counting to do but the blame game has already started and the loudest voices are pointing to a singular target: Iran. If you tune into Fox News, that's what they're talking about. Yes, the "Iran can't get nuclear weapons" talking points continue but it's widely seen as a misstep.

The WSJ is now floating the same thing with "people close to President Trump" blaming the Iran war.

"Some White House officials and Republican allies said the Iran war was misguided, and the midterm elections would have looked very different if the conflict wrapped up months ago."

I tend to agree but that doesn't matter.

What matters is what comes next. This is a key line from the WSJ post:

Trump is also being told by some inside and outside advisers that his legacy will be forever intertwined with the war he launched alongside Israel in February.

That scares me because he might see that as a reason to double down. He could escalate in the hopes of ultimately achieving a win. He could then say that history would judge him kindly.

Alternatively, he could try to wrap it up and spend the next two years working to build his legacy elsewhere, perhaps with an overthrow of Cuba's government or via other endeavors (perhaps a Whtie House ballroom). 

I also think Congress has a role to play here. If the thinking is that the war cost Republicans badly, then they will be motivated to end it as soon as possible. Campaigning on an ongoing war two years from now risks being even more disasterous than tonight, with all three branches of government lost. One candidate to take the falls is Pete Hegseth and the odds of him being replaced are high, if not he could be impeached.

In any case, the Iran file is going to be the thing to watch in the days ahead, especially after today's report that the window to attack again is short.

This article was written by Adam Button at investinglive.com.

Source: Investing Live - News