Iranian Parliament Speaker Mohammad Bagher Ghalibaf mocked U.S. economic policy on Sunday, sarcastically linking Washington’s move to import frozen meat to combat rising prices with the Treasury’s decision to double its long-term bond buybacks, days after President Donald Trump threatened Iran with the “most crushing economic operation ever.”
Frozen Meat to Frozen Yields
“Importing frozen meat to fix meat prices. Okay, that might work. What’s the plan for bonds, import frozen yields? Frozen homebuyers for housing? Frozen paychecks for wages?” Ghalibaf said in a post on X.
He said a “frozen foreign policy” produces a “frozen economy,” adding that the only thing still moving is what he called the “Iran boomerang.”
The speaker also shared a four-panel meme depicting a boomerang labeled “the most crushing economic operation ever”, a jab at Trump’s Wednesday warning against countries maintaining financial ties to Iran.
The Bond Market Trouble
Last week, the U.S. Treasury announced it would double its long-dated bond buybacks after the 30-year yield climbed to 5.33%, its highest level since 2007, and the 10-year reached 4.747%.
The intervention followed a rough stretch of Treasury auctions, with a $25 billion 30-year sale clearing at 5.216%, the highest yield for that maturity since 2001.
Behind the pressure is the U.S. government’s own widening deficit, which hit $432.3 billion in July, the largest monthly shortfall since March 2021, pushing the fiscal-year total toward $1.8 trillion.
The compounding fiscal burden pushed America’s total gross national debt past $40 trillion for the first time in history last week.
Trump’s Frozen Beef Deal Sparks Its Own Backlash
Trump announced Friday that the U.S. would allow up to 300,000 metric tons of ground beef to be imported tariff-free over 90 days, with the beef sold at 25% below market price to lower costs for American consumers.
Sen. Mike Rounds (R-S.D.) criticized the move, saying “this hurts” because it disadvantages American cattle producers, and instead called for Mandatory Country of Origin Labeling.
Rep. Thomas Massie (R-Ky.) called it “central planning” that “won’t incentivize US ranchers to expand” and questioned whether the deal amounts to a “fast food bailout” for major burger chains.
Trump’s Warning To Iran
Last week, Trump announced the economic campaign against Iran, calling it an “economic D-Day” and warning that oil smuggling, swap lines, cash transfers, and ship registries supporting Tehran “all need to stop now.”
Treasury Secretary Scott Bessent has since echoed the warning, saying any nation maintaining ties to Iran would face “economic oblivion.”
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock/ Below the Sky
