The Israel-Hamas conflict will be 'extremely inflationary' for the global and U.S. economy, Larry McDonald argues, impacting oil prices, Fed decisions and capital allocation.
The United States has lost a "key" stance on the world stage and is playing a "very dangerous game" amid the Israel-Hamas conflict, according to one New York Times bestselling author.
The conflict has already claimed thousands of lives. If bombardment of Gaza continues, Iran's foreign minister said hostile parties may join the war. McDonald, who is also known for writing a bestselling book on the Lehman Brothers collapse, expressed his belief that the probability of the conflict not escalating "is low," and therefore will add further stress on market assets, the Federal Reserve, the Treasury – and ultimately Americans’ pocketbooks.
You could say it's irresponsible because she's not being honest," McDonald said. "At the end of the day, this is a conflict that, really, the probability that it goes away in a short period of time and the probability that it doesn't escalate is low." "If you're Israel, this is, I think, 10 times more a horrific event to the people of Israel than with anything that we've experienced in the last 50 years," he expanded.
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