Business Standard/Bloomberg: Wider war in Middle East could tip the world economy into recession
The Hamas attack and Israel’s response are taking a heavy human toll. A global economic downturn may follow.
Like Middle East wars of the past, the conflict between Israel and Hamas that broke out this past week has the potential to disrupt the world economy — and even tip it into recession if more countries are drawn in.
That risk is real, as Israel's army prepares to invade Gaza in response to an attack by the militant group. The death toll from the Hamas assault and the ongoing Israeli air strikes on Gaza is already in the thousands. There's concern that militias in Lebanon and Syria that support Hamas will join the fighting.
A sharper escalation could bring Israel into direct conflict with Iran, a supplier of arms and money to Hamas, which the US and the European Union have designated a terrorist group. In that scenario, Bloomberg Economics estimates oil prices could soar to $150 a barrel and global growth drop to 1.7% — a recession that takes about $1 trillion off world output.
Read more ....
Update #1: A bigger war in Israel would send oil prices skyrocketing and hurt the economy's chances of avoiding a recession (Insider)
Update #2: Bloomberg estimates economic cost of Iran-Israel conflict (RT)
WNU Editor: I think the experts are under-estimating the global economic cost of a major Middle Eastern War. Middle Eastern oil production cutbacks alone will cause unbelievable harm to the global econom.
16 comments:
just stop them before they start WW3 in order to stay in power
Capitalism is doomed forever and ever 2024
Just a idea england
Very funny 2
Ny City will fall soon
Ny City will fall soon
Why do we love Saudi Arabia and hate Iran? Does it really boil down to the Saudis selling oil in US$? We are such selfish shit disturbers here that we deserve what’s coming for us.
The Saudis do not scream death to America every day. The Iranians do.
The Iranians were behind the Marine Barracks bombing and other things in Lebanon.
Whatever Iran has done, it does openly except for a few things in Lebanon.
When countries do things openly, the intelligentsia are forced to take notice. If there is plausible deniability and the intelligentsia do not get hurt they can ignore it.
Capitalism is not doomed. It is no more doomed than gravity or nuclear fusion. Capitalism is organic. It springs up like any growing thing.
To wit: Japan had a stock market 6 centuries ago, It had nothing to do with the Europeans.
11:21 is a bunch of babble. 11:21's reading of history is light or their memory is poor or they need to see a doctor and see what progressive, fatal brain disease they have/
Is there FINALLY an end to fentanyl crisis? Mexico's Sinaloa Cartel orders its members to stop moving the deadly drug across the US border and KILLS anyone who disobeys - as bosses bow to pressure from America
1) Does the cartel make more money from human trafficking or drug trafficking. If the former, are they taking this action to not jeopardize profits from human trafficking?
2) Is or how much does the cartel expect a reaction from Uncle Sam? Do they expect Uncle Sam to come over the border in force and overtly or covertly. Do they expect the USG to team up with the Mexican army and be effective?
3) Does the USG have back channels to cartels like to have to Russia, China and either countries?
I would never have thought to formulate the aforementioned question except that transnational criminal organization are large, persistent and have semi-autonomous zones.
Add to it the fact that we live in a Post Brennan/Post Comey world and trust has been broken. That is those two were more adept and more concerned with political infighting than doing their job.
Plenty of people in America screaming death to America on a daily basis. Not only is it not condemned by the government, but it appears to be encouraged. So try again sweetheart
Took you 5 hours for that lie.
There are chants of Death to America in America.
Those would be from some (not all) of the immigrants from countries like Iran. Throw in some home grown and occasionally Moscow financed communists with some white guilt liberals and you have a fetid swamp ecosystem of a college campus.
Where I went to school the core of the Middle East Solidarity Committee considered of the nucleus of an older Palestinian male studying nuclear engineering (nucleus), A Palestinian-American female, a university brat whose father taught chemistry, a blond female who insisted she was a second class citizen and would camp out on the quad to prove it, a Black female who was butt hurt she could not emigrate to Switzerland (I suggested the Netherlands as being just as good and she gave me a dirty look) and 2 white guilt Jewish Americans (1 econ & 1 math; one of them was afraid to finish his maters degree and enter the real world. (His words). His advisor was pushing him because he met all the requirements and had good grades. This has been going for decades maybe since the 60s.
It might be changing now with some of them getting named and shamed and worse canceled.
And the Iranians and others still chant it big time.
Day of Rage: Terror Hits France; Palestinian Supporters Shout 'Death to Israel, Death to America' 10-13-2023
In America it will get bigger or it will get squashed.
Russia lost 3 SU-25s last week. A helicopter bases was hit way, way behind lines. Most of us know what this means. Russia's air supremacy is going away. It will get so bad that Azerbaijan could march on Moscow. Prigozhin did and he got a long way toward Moscow. The Azeris are Turks and they are Muslims so they are blood thirsty. They also ignored or showed contempt for the weak kneed Russian peacekeepers.
When was the last time I heard the words weak kneed to describe anyone? Oh, I remember it was used to describe two female, aged RhINOs, Olympia Snowe and Susan Collins. Yes, the Azeris showed us that the Russians were weak kneed.
So all Russia has left is to throw masses of mobiks across farm fields as those field are shelled by artillery using cluster munitions. That is it. That is the pathetic plan.
Look at the bright side. At least some Russian pilots did not have to needless die for Putin's Folly.
Of the destroyed Russian tanks, there is a higher number of T-90s in the mix. The increased number of T-90s is of concern to some.
There is an ancient American saying "That it is not how big your 3rd leg is, but how you use it." Sadly, Russians do not know how to use theirs.
Imagine being that well hung and getting owned.
The poor performance of one T-90 crew was noted during the last Kupiansk college try. Yes, unfortunately they got pwned. the writer opined it wad due to poor training.
So the Russians manufacture 20 T-90s a month. Does not matter as much with poor tactics, poor training and probably poor workmanship. Also mines and ATGMs do not care how good your frontal armor is.
Oh and have you seen the trucks they are driving mobiks across the battle field in? Not that a deuce and a half would be better. they have made some modifications to the deuce and a half that help, but against artillery? Not really.
They should call the trucks Putin's Meat Wagons.
Post a Comment