A famous union-busting and fascist-admiring animator who started out in this cowtown once noted that "It's a small world after all" and that sentiment is not only true but serves to remind us that Kansas City can't hide from the economic fallout of global conflict.
A truism . . .
Agree or disagree about strikes against Iran, there's NOBODY claiming this fight is good for the American economy as we've already seen market disruption, oil volatility and hint at economic instability.
In fact . . . The American military economy is now centralized to a greater extent then during cold war years so there's really not even much of a bump for manufacturing of bombs and other smart weapons. Example: Anyone who knows the situation at the local Honeywell plant understands they're laying off people . . . Not hiring more.
Judging strictly by what we've seen so far . . . Gas prices are rising, the stock market doesn't seem enthusiastic about the conflict and there are growing worries about spending, debt and foreign investment LESS THAN A WEEK INTO THE CONFLICT.
On the political side . . . Quite a few conservative pundits fear MASSIVE MIDTERM LOSSES FOR REPUBLICANS because of internal divisions within MAGA that the Iran fight seems to have exacerbated.
In Kansas City . . .
A prolonged war and gas price volatility threatens even greater hardship for an economy that still hasn't fully recovered from COVID. The local retail & restaurant scene continue to suffer losses and fewer investment dollars on a macro level threaten to drive so much local development into a standstill.
Of course there's always a way to make a buck and we don't want to be too much of bummer but . . .
TOP ECONOMISTS & WORLD LEADERS FEAR GLOBAL ECONOMIC IMPACT THAT WILL HIT KANSAS CITY IF THE IRAN CONFLICT ENDURES FOR TOO LONG!!!
And so . . .
As President Trump reassures Americans that there are enough munitions to fight "forever" it's not unreasonable to express concern about the duration of the conflict, its goals and the economic implications beyond typical good guys vs. bad guys buffoonery that dominates most the discourse of most American military actions.
Accordingly, here's an apt summary and more reporting . . .
"Aside from the human toll from the war, the fighting in the Middle East has rattled markets and upended supply chains, threatening to drive prices higher for American consumers on everything from home loans to groceries. It comes as Americans already have an increasingly negative view of the economy, with consumer sentiment falling over the past year.
"The extent of the economic impact from the war with Iran will depend on how long it lasts, and it will take time for the effects to trickle down to consumers. Trump has said the conflict could last four to five weeks, but on Tuesday he indicated it could stretch longer."
Read more via www.TonysKansasCity.com links . . .
How Iran's Strait of Hormuz shutdown could hit the global economy
A senior Iranian commander said Tehran's forces would attack any ship trying to pass through the strait.
Home loans, gas, groceries: How the Iran war could upend Trump's touted economic gains
President Donald Trump's State of the Union speech pointed to economic bright spots. The Iran war threatens to dim them.
The war in Iran could lead to a 'guaranteed global recession' because of one chokepoint that is crucial to the world economy, analyst says
How a waterway barely 30 miles wide could plunge the world into recession.
Iran attacks show the perils of following America's economic lead
A growth plan of renewable energy and diversified trade is far better than guzzling fossil fuels and aligning with the US
How the Iran war could impact the US economy
The conflict could hike prices and slow growth, some economists said.
Developing . . .
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