"Although energy price shocks are first felt at the pump by consumers, there's a multi-quarter lag before businesses are affected. Even if the Iran war ended right now,... the largest energy supply disruption in modern history would drive up transportation and/or production costs for businesses. This #inflationary impact is structural and can be a lot harder for the Federal Reserve to tackle."
The Motley Fool https://www.yahoo.com/finance/markets/stocks/articles/prediction-fate-trump-bull-market-105600170.html
And the absurd thing is that if we had taken meaningful #ClimateAction we could have avoided all this.
The fertilizer dependency on oil & gas? Well, we know how to make fertilizer without it.
The price of gasoline and diesel? #ElectricTrain networks work! We can electrify most (probably all) land based transportation, reducing the #inflationary pressures of expensive oil. (Look at recent posts about EVs as a % of new cars and market growth)
Heck, without oil, there'd be a lot less incentive to go to war in the Middle East.
So please explain to me so I can understand it - why is it too #expensive to address #ClimateChange?
The economic challenges we face today aren't the result of temporary shocks but structural changes that we need to grapple with, argues Jason Furman, a professor at Harvard and formerly the chief economic adviser to Barack Obama. He recommends five books to get us started—including the future of the dollar, China’s growth model, falling fertility, household financial fragility, and the enduring insights of Adam Smith.
Just in: consensus economics still works, and can't be "truthed" away.
Large and erratic trade #tariffs, #inflationary fiscal policy, knock-on effects of layoffs and spending cuts at and by the largest employer (the government), and widespread lawlessness by that same government have all combined to produce a slowdown, soon to be a #recession. #Trumpslump
Meanwhile, #covid is starting to spread again rapidly because consensus health science still works.