Most people compare today's global financial risks to 2008, but economist Chris Martenson says that's the wrong comparison.
The banking crisis was ultimately a financial problem, and governments responded by creating trillions of dollars, euros and pounds to stabilise the system.
You can debate whether that was wise, but it worked because the problem was financial.
This time, he warns, the problem will be physical.
If the Strait of Hormuz and Bab el-Mandeb remain disrupted, the world doesn't just lose oil; it loses diesel, jet fuel, lubricants, natural gas, petrochemicals, and fertiliser.
The countless industrial inputs that keep supply chains, factories, farms and transport networks operating.
And as Chris put it: You can't print missing molecules.
That's why he believes this crisis is fundamentally different.
If those physical resources become scarce, printing more money doesn't solve the problem; it simply means more money is chasing fewer real goods.
And according to Chris, we're already seeing early signs of that reality beneath the surface.
While many people focus on crude oil prices, he says the real warning is coming from refined products like diesel, where shortages are becoming increasingly visible and supply chains are beginning to tighten.
His concern is that policymakers are treating this like another financial crisis when it's actually an energy crisis.
And those require completely different solutions that no one seems to be addressing yet.
@chrismartenson
