Bombs are exploding in #Iran & the #MiddleEast, but the fallout is rattling households & businesses in neighborhoods all over the globe.

In Kansas, home buyers saw 30-yr #MortgageRates edge above 6% this week. In West India, families mourning the death of a loved one discovered that #gas fired #crematories had been temporarily closed.

In Hanoi, Vietnam, gas station owners posted “sold out” signs. In Kenya, tea growers & traders worried their exports to Iran would rot on the dock.

#TrumpsWar

And across the United States, Canada, Europe, Britain & Mexico, #farmers blanched at the surge in #fertilizer costs.

The widening #war in #Iran has delivered a stunning punch to a worldwide #economy that has already been walloped by a breakdown of the international trading order, war in Ukraine & Trump’s chaotic policymaking.

#TrumpsWar #US #Iran #war #Trump #RulesOfWar #law #WarPowers #geopolitics #MiddleEast #inflation #economy #affordability #CostOfLiving #oil #energy #EnergyCrisis

“This really is the big one,” David Goldwyn, fmr #US diplomat & #Energy Dept ofcl, said of the shutdown of the #StraitOfHormuz, the world’s most important choke point for #oil. This is the emergency scenario everyone feared.

#Cargo deliveries are stranded, #shipping charges have increased & #insurance premiums have skyrocketed. Yes, the price of #gas at the pump is affected. But so is the price of #food, #medicine, airplane tickets, #electricity, cooking oil, semiconductors & more.

#TrumpsWar