Clinton election strategist James Carville was on the money in 1992 when he coined the phrase "It's the economy, stupid."

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The message to Clinton's campaign workers was to stay on message. It was part of a trifecta of talking points - change versus more of the same; the economy, stupid; and don't forget healthcare - which helped propel Clinton to power.

If reworked for 2026, it would read: "It's the war, stupid."

Yep, that war, which Israel and the US started in the Middle East and which is causing economic hardship around the world.

Wincing every time you fill your tank? That war. Wondering why a quick trip to the supermarket hurts the hip pocket? That war again. Bracing for another interest rate rise? There it is yet again. That war, directly or indirectly pushing up the price of everything.

Told at the outset by the self-declared high IQ president it would be over in a few weeks, it's dragged on for seven months. Not only is the Strait of Hormuz effectively closed, choking off 20 per cent of the world's oil supply, now Iran's proxy, the Houthis in Yemen, have choked off another vital waterway, the Bab al-Mandeb Strait into the Red Sea and Suez Canal beyond.

In just over a month, global crude prices have shot up by just over 24 per cent and Australian motorists are feeling that pain acutely.

Never one to admit fault on his part, Mr High IQ had the temerity to blame Ukraine for the diesel shortage now being felt in the US. Bomb anything else, he pleaded, but stop striking Russian oil terminals and refineries. The other war, folks, not mine, is the one to blame, he says as the price for a gallon of diesel reaches heights not seen before.

The price spike accompanies a period of record US exports of diesel to Europe, which placed a ban on Russian petroleum products in 2023 after the invasion of Ukraine. The US diesel is replacing the Middle East product trapped behind the Strait of Hormuz, which Mr High IQ failed to foresee would be closed once he began raining bombs and missiles down on Iran.

Of course, no one's buying the Ukraine excuse. The strikes against Russian refineries and terminals are being felt most acutely by Russian civilians, who've been brawling in hours-long queues at petrol stations. It's become so bad, Russia has had to limit........

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