alt Hacker NewsOne reason among several is that middle east states fund the US fiscal deficit by buying treasuries with their oil revenues. If the US loses that source of financing then the US fiscal situation gets worse
One reason among several is that middle east states fund the US fiscal deficit by buying treasuries with their oil revenues. If the US loses that source of financing then the US fiscal situation gets worse
This. Since it has been demonstrated that we can no longer guarantee the shipping of oil through the straight of Hormuz, nobody has any reasons to price oil in USD or to finance our deficits.
Get ready for the mother of all tax increases.