As the IAEA predicts a global oil price shock worse than the 1970s, as the Iran war enters its second week the economic effects and implications now begin to deepen. Crude oil prices return to more than $100 barrel, with predictions by Golden Sachs could hit $200. What are the Trump responses so far? Why are they insufficient. What’s the impact on US inflation from the Oil shock by sector? Jobs and GDP? Stock markets? Interest rates? US dollar devaluation? Why focusing on just Supply as cause of oil prices is insufficient. What are the total causes of oil inflation? Finally, what are the respective war strategies of Trump, Israel, Iran?
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