War’s Economic Fallout Extends Far Beyond the Pump

With the US-Iran war held to a ceasefire, further death and destruction have thankfully been delayed. But, as the Austrian school knows, the sudden wartime disruption of production processes is an economic loss that’s hard to understate.

The following article was originally published by the Mises Institute. The opinions expressed do not necessarily reflect those of Peter Schiff or SchiffGold.

For the past six weeks, as this US-Israeli war with Iran has played out, the economic impact of the conflict has gotten a lot of attention. And rightfully so.

As anyone who’s consumed any news about this war knows well by now, the Strait of Hormuz is a major energy chokepoint, the Iranian government did exactly what they said they were going to do if Trump and Netanyahu ordered this attack and started blocking ships tied in any way to the government’s attacking them from passing through the Strait, and the US, Israeli, or really any other government have not been able to do anything about it.