Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
Expansion of the conflict in the Middle East, embroiling other nations, is not the only political risk that could reignite inflation. Terrorism could have this effect as well, especially with respect to the cost of oil and gas.
One could imagine terrorist attacks on oil development and production infrastructure damaging the supply and increasing the cost of energy. Unfortunately, this would not be the only threat to the supply and cost of energy.
An additional inflationary risk was realized this morning courtesy of Houthis rebel attacks on ships in the Red Sea. As a result, A.P. Møller – Mærsk, an economic bellwether in its own right (see https://therabidcapitalist.com/2023/11/03/as-maersk-goes-so-goes-the-global-economy-the-big-point/), canceled all of its shipping through the Red Sea in favor of transit routes around The Cape of Good Hope.
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