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the closure of the strait (i.e. a toll booth by Iran) will cause massive inflation, destroy the GCC, and eventually lead to a global recession and the end of a
by jmstfv 7mo ago
the closure of the strait (i.e. a toll booth by Iran) will cause massive inflation, destroy the GCC, and eventually lead to a global recession and the end of a petrodollar, which is how Iran is retaliating.
And if the US attempts a ground invasion to keep the strait open, it will be a complete disaster for the US.
- andyjohnson0 7mo agoGCC == Gulf Cooperation Council?
- nxpnsv 7mo agoI hope it is not the gnu compiler..
- jmstfv 7mo agoyes. they export oil/LNG and import most of their food. and they invest their proceeds into the US economy/treasuries, which they're going to stop if this continues. by some estimates, Qatar and Kuwait could experience ~14% GDP contraction this year if this goes on.