The Iran War has closed the Strait of Hormuz and Bab el-Mandeb Strait, creating a dual-chokepoint crisis that is driving massive inflation across energy, shipping, fertilizer, and financial markets, threatening a global stagflationary shock. I want to talk about the thing nobody in Washington seems willing to say out loud, which is that the cost of this war is going to show up at your kitchen table before it shows up in any congressional budget hearing. This morning oil prices blew past ... [19640 chars]
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