Originally Posted by
Arcanum
I
Time is on the side of Iran here, not anyone else. The economic dislocation of the last three weeks is now massive, and it's been surprising that western governments have kept a lid on how bad things are going to get. Silly stories about 50mph speed limits and some rationing in the UK are a distraction.
The economic impact is felt in food supply and prices, as well as energy prices. With central banks being torn between putting up interest rates other than counter inflation, at the same time as the multi-trillion dollar private credit market is showing extreme signs of stress, with contagion to the main banking system. And this is going on even if the war stops today. It's far worse than it seems.
Absolutely. Among my various circles of friends and acquaintances there is no sign that they are beginning to think beyond fuel going up a little at the pumps.
Just wait until the government says "no need to panic buy!".
My QM expert dear wife is organising a years-worth of consumables, and with an eye to interruptions in power supply. Fortunately we have good storage facilities. Red wine by the case.
And yes: It's far worse than it seems.