America’s war, America’s recession
Why the US is particularly poorly positioned to weather a food and energy-price shock
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[WASHINGTON] There is no good time for an economy to face an energy and food-price shock, but some moments are worse than others.
And for the US today – with its strained credit market, stretched equity-price valuations, unsustainable public finances and inflationary import-tariff policy – now is about as bad as it gets.
The precise magnitude of the shock the US will face as a result of its war of choice in Iran is difficult to predict, given the array of factors at play.
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