The US stock market is home to the world’s biggest companies and has set a series of all-time highs recently despite warnings from the International Energy Agency that the global economy is facing the biggest energy shock in history.
Its like people are completely asleep to the energy and food crisis that is building up. I guess there has been so many crisis lately they they have stopped reacting.
If Hormuz doesnt open up, and I dont think it will, there will be a lot of big problems. Probably mostly for Asia and Europe, but im not sure if America will be immune. What if food costs increase? Fuel costs?
The bubble will pop at some point, but I don’t think much will happen until housing is massively disrupted, like there are mass foreclosures, evictions, or failures of the companies giving out housing loans.
We could have received a necessary correction if we didn’t give out stimulus checks during COVID-19, but that would have hurt politicians’ popularity, and probably wouldn’t have many them many corporate friends either.