The Iran War has sent prices soaring for the typical American family. But how much more are we all paying thanks to President Donald Trump’s decision to launch his idiotic war of choice? About $2,000 per household, according to an estimate from Moody’s.
Mark Zandi, chief economist at Moody’s Analytics, spoke with CNN on Tuesday, explaining, “Many Americans have rightly connected the dots between the Iran War and the painfully high cost of living and thus want the war to end.”
By Zandi’s calculations, the war has cost U.S. consumers about $265 billion, totaling about $2,000 per household. Slightly over half of that $2,000 is from higher energy prices, including gasoline and home heating bills, according to Zandi.
But that’s just the tally for the war so far. The war was launched on Feb. 28, when President Trump insisted that it might last 4-6 weeks. Obviously we’re coming up on eight months of conflict at the end of this month and there’s no end in sight.
In fact, there’s probably a lot more financial pain ahead. 18 commercial ships have been hit by Iran in the Strait of Hormuz so far this month. And Reuters reported Tuesday that the headquarters of Saudi Arabia’s oil company Aramco was struck today. It’s unclear at this point if the building was a direct hit by a missile or shrapnel from a missile interception. Saudi Arabia has been the target of the Houthi rebel group in Yemen, which is aligned with Iran.
At least 16 people were killed over the weekend at Riyadh’s King Khalid International Airport and hundreds more were wounded, according to Bloomberg .
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