03.24.26 Clark + Wes: Investing During Global Conflict & Sneaky Risks of Private Credit
March 24, 2026
AI Summary
5 min readClark Howard and investment advisor Wes discuss how ongoing Middle East conflict, particularly involving Iran, affects everyday finances and investments, alongside warnings about private credit as a high-risk alternative to traditional bonds.
Oil Price Surge and Everyday Impacts
Higher oil prices from the conflict immediately raise gasoline and diesel costs, hitting truckers hard and filtering into broader expenses. Hosts describe a "DoorDash economy" where delivery services incur higher fuel and petrochemical-based packaging costs, unseen by consumers. Unlike past energy crises, U.S. oil-producing states like Texas, New Mexico, North Dakota, and Oklahoma see GDP boosts, creating a mixed bag—boom for energy sectors but pain elsewhere. Jet fuel spikes drive up airline tickets, though airline CEOs claim strong demand persists; both predict eventual "demand destruction" as prices deter travel.
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What you'll learn
- 1 (00:34) **Intro to Global Conflict Impacts** - Hosts discuss Iran conflict's effects on everyday and wealthy investors' wallets and markets
- 2 (01:35) **Oil Price Surge Explained** - Rising oil affects gas, diesel, trucking, and petrochemical-dependent goods like DoorDash packaging
- 3 (03:03) **US Economy's Mixed Bag** - Energy states boom while others face pain; demand destruction looms for high prices
- 4 (04:03) **Travel Demand and Airline Outlook** - Strong bookings now but predicts Wile E. Coyote cliff for airlines as costs rise
- 5 (05:41) **Timeline for Price Capitulation** - Hosts predict 8 weeks to 3 months before consumer behavior changes and resolution
- 6 (08:24) **Global Recession Spillover** - Europe/Asia hit hard by energy costs, inevitable US impact despite self-sufficiency
- 7 (09:38) **Fed's Dilemma on Rates** - Higher oil fuels inflation (CPI creep), kills rate cuts; wholesale inflation already spiking
+ Full timestamped outline available in the app
Show Notes
Clark + Wes: Investing During Global Conflict & Sneaky Risks of Private Credit
Is the conflict in the Middle East about to tank your investments? Money experts Clark Howard and Wes Moss sit down for a special "Ask an Advisor" segment to discuss oil prices, the economy, travel price predictions, and most importantly, what to do when the state of the world is making you nervous about your investments. In the second half, Clark and Wes explain the difference between private equity & private credit, and share a major warning about private credit. They break down why "12% yields" are often a trap and how to protect your portfolio from the latest "story investments."
Mentioned on the show:
- What Happens to the Stock Market When Oil Prices Spike?
- What To Do When the State of the World Is Making You Nervous About Your Investments
- Investing Rule: You Can't Predict (So Stop Trying) - Clark Howard
- How Psychology Can Make or Break Your Portfolio
- How To Find and Choose a Financial Advisor / Best Financial Advisors
All this and more on the March 24, 2026, Ask an Advisor episode of the Clark Howard podcast. Submit your questions at clark.com/ask.
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Learn more about Wes:
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