Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a summary of a detailed note available to paid subscribers.
The three-front military assault on the global oil supply has raised the threat of inflation, requiring central banks to tighten monetary policy. GDP could become a casualty of the conflicts that will paralyze traffic destined for the Persian Gulf, the Red Sea and the Black Sea, accounting for twenty-five percent of the global oil supply.
The pressure on the energy markets has never been greater. Military action by Iran in the Persian Gulf, the Houthis in the Red Sea and Ukraine in Russia will pressure not only global oil prices but also import costs from Asia. It is not surprising that Brent Crude is flirting with $100 per barrel again.
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