Before February 28th, the US economy slowed while inflation rose. Then, war erupted, leading to a major economic crisis. This will cause a global shock, affecting 20% to 50% of key commodities like oil and gas.

The global economy is at a critical point. Even before February 28th, the United States economy was showing clear signs of slowing down. At the same time, inflation was already becoming a significant problem. Then, a war began, changing everything. This conflict is expected to cause a massive economic firestorm around the world. A major source of global commodities, particularly from the Persian Gulf, is now unstable. This region supplies a large portion, between 20% and 50%, of the basic goods that power the world's economy. These essential items include crude oil, liquid petroleum gases, liquefied natural gas, and ammonia. The disruption in these supplies will have far-reaching effects on global growth and stability.

Original Author: David Stockman | Source: Brownstone Institute