Professor of applied economics at Johns Hopkins University Steve Hanke says this could be the biggest oil crisis in modern history, hitting oil, fertilizer, and key supply chains all at once.
Prices are already rising, and that pressure will quickly spread into food, tech, and everyday costs.
Even if things reopen fast, supply chains don’t reset overnight, the damage lingers.
The bigger problem is timing.
The global economy was already slowing before this started, so this crisis is hitting at the worst possible moment.
And if this escalates, @steve_hanke warns it could be far worse than the 2008 Global Financial Crisis.
00:01 - A Catastrophic Outlook: The Biggest Oil Crisis in History
00:13 - The Death of Sanctions: Economic Survival vs. Political Stance
00:22 - Why Escalation Favors Iran’s Strategic Position
00:36 - Unintended Consequences: The War’s Hit to the Global Economy
12:45 - Comparing the Current Collapse to the 2008 Financial Crisis
24:12 - The Strategic Advantage: How Russia Wins from an Elongated War
35:50 - Inflationary Pressures and the Death of the Consumer
41:18 - Energy Infrastructure Vulnerability and Market Panic
44:30 - The Inevitability of a Global Economic Realignment
47:21 - Final Assessment: Why We Are Entering a Decade of Chaos
