The Iran War may turn out to be a key marker in history of America’s fiscal overstretch
· livemint.com
While superior arms can win a conflict, it may not repeal the arithmetic of debt, inflation and rising borrowing costs—even for a country that issues the global reserve currency. The Iran war’s significance may lie in its eventual impact on the economy of an overstretched US.
Brent crude was in the low $70s a barrel at the beginning of July. Four weeks later, amid open talk in the US of a “massive attack” on Iran, it soared past ...