Feeling down on the farm

March 27, 2026

AI Summary

5 min read

Markets continue to react sharply to the fourth week of the U.S.-Israel war against Iran, with equities and oil prices reflecting uncertainty over the conflict's duration and escalation risks. Host Kai Ryssdal notes the stock market's volatility, likening it to a distracted student ignoring the war's realities, while panelists David Gura from Bloomberg and Courtney Brown from Axios describe an "everything shock" beyond just oil. Equities fell amid doubts about President Biden's ability to control the war's trajectory—evident when Israel struck power plants despite a U.S.-imposed pause. Oil and gas prices have risen steadily, driving up transportation, business capital costs, fertilizer, and consumer spending pressures, with supply chain disruptions looming.

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What you'll learn

1 (00:01) **Opening and Market Panel Setup** - Host Kai Risdal introduces volatile economy amid war, welcomes guests David Gura (Bloomberg) and Courtney Brown (Axios).
2 (01:16) **Equities and Oil Market Reactions** - Guests analyze stock pressure and oil price surges as "everything shock" from conflict.
3 (02:26) **Broader Economic Ripple Effects** - Discussion on transportation costs, business capital, fertilizer prices, and consumer spending hits.
4 (04:17) **Bond Market Dynamics** - Brown explains rising yields from inflation expectations and term premium demands.
5 (05:59) **President's Market Prediction Clip** - Plays tape of President noting milder oil/stock moves than expected.
6 (07:09) **Tells for Lasting Economic Damage** - Panel identifies supply chain snarls, energy infrastructure hits, and consumer sentiment shifts.
7 (09:35) **Four Weeks of War Economic Recap** - Mitchell Hartman reports no economic upside, only downsides like gas at $4/gallon and rising rates.

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Show Notes

A growing number of farmers can’t afford to plant their crops this year. It’s because of rising costs for diesel, fertilizer, and equipment parts — coupled with low crop prices. On today’s episode, we talk to an Ohio soybean and corn farmer. Plus, how our economic landscape has changed after four weeks of war. Also, we break down the new consumer sentiment survey. And finally, a New York City artist shares his experience with the job market and gig economy.

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