The Iran war destroyed gas, fertilizer and payment systems in weeks, locking in a depression across major economies that diplomacy cannot reverse.
The Iran war destroyed gas, fertilizer and payment systems in weeks, locking in a depression across major economies that diplomacy cannot reverse.
There is a word for what is described in the pages that follow. The word is corruption. Not alleged corruption. Not the appearance of corruption.
Most Americans think of supply chain disruptions in terms of port delays and empty shelves. This is a different kind of disruption.
The $200 billion request arrives with $1.3 to $1.4 billion daily war costs, near $40 trillion in debt, and no stated milestones or exit plan.
With Hormuz sealed, gasoline rose from $2.98 to $3.84 per gallon and diesel neared $5, exposing the household cost of the conflict.
This is not a story about Iran. It is not a story about oil. It is not even a story about war, not really.
Sixty percent of Americans live paycheck to paycheck. For them, this is not an inconvenience.
Hormuz carried one fifth of global oil and one third of fertilizer trade before its closure, sending energy, food and housing costs higher.
Insurers withdrawing war risk cover stranded oil, LNG, ammonia, phosphates and sulfur, transmitting Gulf disruptions into prices worldwide.
Energy, insurance, and shipping costs are skyrocketing. Inflation is already here. Stagflation is next.