"With uncertainty at an all-time high, economic historians argue that a 1970s-style economic malaise is looming: stagflation and, in the worst-case scenario, a shock that could end in a global recession."
"Nouriel Roubini, who correctly predicted the last crisis, now warns that the escalating conflict in the Gulf will lead to low growth, high inflation, and major risks of a financial crisis."
"Raghuram Rajan sees oil heading toward $150 a barrel, perhaps even $200, and warns that the devastating effects of an energy shutdown will seep through the entire economy."
The economic landscape is fraught with uncertainty, reminiscent of the 2008 financial crisis. Experts are concerned about the potential for stagflation and a global recession due to geopolitical tensions, particularly the conflict in Iran and its impact on energy markets. Predictions suggest that oil prices could soar, exacerbating economic stagnation and inflation. Historical parallels are drawn to the 1970s economic malaise, with economists warning of significant risks ahead. The current situation reflects a lack of clarity and foresight among financial experts.
Read at english.elpais.com
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