STORY: Smith warns that the effects from the US-Israeli war with Iran go far beyond oil, with disruptions already showing up in fertilizers, food production and air travel.
"Investors are looking through the problems in the Strait of Hormuz and the Middle East, generally, and they are basically looking past that," he said. "I think that's a mistake."
"Right now there are severe shortages of fertilizers showing up all over the world, particularly in Asia," Smith added. "This is affecting the ability of farmers to plant crops and we are going to have food shortages in 2026 later this year because crops are simply not going to be able to get planted because of shortages."
