U.S. war with Iran just climbed another rung up the escalation ladderLeo Hohmann – Leo’s Newsletter July 20, 2026It appears that the other shoe just dropped in the U.S. war with Iran. This will wreck the Egyptian economy, possibly drawing that country into the war against Iran. Right now, both the U.S. and Iran believe they are winning this war. I don’t believe Iran will bite this time around. Expect food prices to continue rocketing up later this year and into next year, as the shortages of fertilizer caused by the Iran war lead to smaller harvests.