Economists are warning that the escalating Iran conflict could trigger a surge in oil prices, disrupt global supply chains, and potentially reignite inflation pressures in the U.S. and worldwide.
Peter Schiff Warns War Spending Could Fuel Inflation
On Friday, economist Peter Schiff warned that a prolonged conflict with Iran could have massive economic consequences, potentially costing the U.S. hundreds of billions of dollars.
“Trump committed Americans to pay billions to defeat Iran, then billions more to rebuild what we destroy,” Schiff wrote on X. “The cost will likely be measured in the hundreds of billions and could top $1 trillion, causing already rising inflation to skyrocket.”
When asked whether the conflict could push investors toward safe-haven assets such as gold, Schiff responded, “Of course.”
He also pushed back against suggestions that rising energy costs alone would drive inflation, arguing instead that government borrowing and money creation would play a bigger role.
“The inflation comes from all …
This post was originally published here
