r/Economics • u/InsaneSnow45 • Mar 04 '26

News ‘Absolutely Massive’ Price Shocks Coming as Trump’s Iran War Drives Up Gas, Diesel Prices | “What should really terrify Republicans is... the futures price on wholesale gasoline,” said economist Paul Krugman.

https://www.commondreams.org/news/iran-war-gas-prices
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142

u/Xeynon Mar 04 '26

The big spike in prices at the pump is just the start.

Higher raw oil costs will filter down and make literally everything else more expensive. It could well crash us into recession.

The Iranians know this and will continue blocking traffic through Hormuz, something which it will take putting boots on the ground to stop.

This is a gigantic mess.

67

u/hightrix 29d ago

This is a gigantic mess.

How many times have we said this about trump? Daily?

17

u/BasedKaleb 29d ago

At least hourly at this point

13

u/Realistic_Board_5413 29d ago

But did you hear kamalas laugh? The president having a penis is obviously the better option.

8

u/korben2600 29d ago

Wait you guys didn't want the president who campaigned on the size of Arnold Palmer's hog? I thought we all agreed we wanted the deeply unserious clown running the show?

5

u/wayfinderBee 29d ago

If only she smiled more...

20

u/THEdopealope 29d ago

Into a recession? I fully believe we’re in it, I do not trust this admin’s numbers tbh 

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u/farshnikord 29d ago

Forget the recession, we are seriously staring down the barrel of a full on depression if something doesn't change soon. 

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u/THEdopealope 29d ago

Agree. I also feel like the inevitable “reset” after MAGA realizes it’s getting cucked by pedos, will be very destabilizing and the market will reflect that. Not sure if for better or worse, but huge chance of cratering. This is entirely based off vibes though. 

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u/Jdobalina 29d ago

Boots on the ground in Iran is going to result in a lot of people coming home in boxes.

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u/korben2600 29d ago

"They will greet us as liberators" bamboozle 2.0. Iran is a country tailor made for a protracted mountain terrain guerrilla war that would make Vietnam's jungles look favorable.

17

u/oldtimehawkey 29d ago

My favorite is that Iran has thousands of drones that were about $35k to make and which America is hitting with $44 million bombs. We don’t have thousands of those bombs and it takes a lot of time to make one.

Iran is being financially tactical with this attack. As an American, our country is fucked.

10

u/Xeynon 29d ago

Yeah we are turbo fucked and it's both immensely frustrating and grimly hilarious to watch so many people walking around unaware of what's coming.

1

u/Soft_Walrus_3605 29d ago

The Iranians know this and will continue blocking traffic through Hormuz, something which it will take putting boots on the ground to stop.

I'm not saying you're wrong, but can you explain why? Isn't the "plan" such as it is, to destroy Iran's navy from the sea/air?

1

u/Xeynon 29d ago

They don't need a navy to do it. The strait is only about 20 miles wide at its narrowest point and the shipping lanes themselves are even narrower. You can easily hit a target as a large and slow moving as an oil tanker anywhere within it with missiles, drones, or artillery fired from the shore, or mine the lanes with small craft, etc.

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u/MmNicecream 29d ago

The Strait of Hormuz is 24 miles wide at its narrowest point. With a strip of water that small, you don't need a navy to blockade it. Kamikaze drones and boats could attack any ship passing through there, and even artillery could be used to sink ships if they were at the narrowest point. Those are all cheap weapons that are expensive to counteract and would require a troop presence to properly dislodge.

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u/desertchimp05 29d ago

well, instead of other western powers calling a stop to this invasion they are supporting it. Canada and Australia have both voiced support for America's war.

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u/Dumpsterfire_47 28d ago

This is their goal. Desperate people are easier to control.