This War's Economic Crisis Could Get Much Worse—For the U.S. and the Whole World
Today’s post is about the economic fallout of the Iran War, which—depending on the hour that I check the news—is either about to end, or just getting started, or already achieved its objective, or requires a ground invasion. Uncertainty in war is no novel phenomenon. The 19th century Prussian officer Carl von Clausewitz is widely credited with popularizing the concept of war as a “fog.” But one might have hoped that two centuries later—with the invention of computing, advanced analytics, the Internet, and a vast network of global surveillance—that proverbial fog might have lifted. Instead, I have found it immensely challenging to track the war on a moment-to-moment basis given the avalanche of partially accurate, fully inaccurate, or deeply misleading information from reporters, analysts, and even our own government. On Tuesday afternoon, Secretary of Energy Chris Wright posted that the US Navy was escorting tankers through the Strait of Hormuz … and then minutes later deleted the post after a reporter questioned the claim…
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13 days ago · 122 likes · 7 comments · Derek Thompson
