Trump’s War With Iran Could See Fuel Rationing and Global Recession Within Months. According to Oxford Economics’s Latest Research
https://www.independent.co.uk/news/business/trump-war-iran-oil-fuel-rationing-recession-b2950632.html
Posted by T_Shurt
3 Comments
From the article:
A global recession and widespread fuel rationing are likely if the conflict in the Middle East does not end soon, warned Oxford Economics’s latest research.
The research shows the number of tankers passing through the Strait of Hormuz is down 98%, and if the key shipping route remains closed for an extended period it would see existing oil inventories continually depleted and the current shortfall of 2 million barrels per day rising sharply.
That would mean a shortage around the world of 12 percent of usual oil consumption, requiring fuel rationing and a massive hit to world economic growth this year.
“In our prolonged Iran war scenario, we estimate the gap widens to around 13 million barrels per day by the sixth month,” said head of oil and gas forecasting, Bridget Payne.
“Our modelling shows this scenario would trigger a global recession and slow world GDP growth to 1.4% in 2026.”
Recessions and other economic crises are good for capitalists. It helps weed out the chaff. Those capitalists who were smart or rich enough to weather the crisis can then buy up the assets of those who were not smart or rich enough.
And the capital accumulation continues.
One could hope. You dont put in place a plan to have troops on the ground, in US cities, as you shut down elections and declare yourself/crony the winner. it takes time and true disruption to ‘justify’ marital law..Only year one, wait til you see what it looks like by year 3.
If I lose 10 billion of my 9 billion fortune through a global recession. Do I still have enough resources to buy coffee or even a whole industry when it hits rock bottom?