Today, we’re going to talk about something that is not getting nearly the attention it deserves, and that is the economic impact of the war in the Persian Gulf. Sure there is lots being shared in the media. But I think the mainstream media are either dramatizing the war, or downplaying the economic impact.

Markets, broadly speaking, are treating this as a contained geopolitical event. Maybe a temporary disruption. Something that will resolve itself in due course.

I believe that view is fundamentally flawed.

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Why Is Energy Being Ignored?