Iran has killed off Reeves’s fiscal rules. Here’s how to radically rewrite them
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In 1975 Bowie topped the charts with Golden Years, inflation hit 25% and the economy shrank by 1.5%. That was the peak year of “stagflation” – and with the war against Iran threatening to spike the price of everything, the term is back.
But this time it could be worse. If the Strait of Hormuz remains closed for months instead of weeks, and if the energy infrastructure of the Gulf is seriously damaged, we are looking at an entirely different kind of crisis to the one that finished off the post-w
But this time it could be worse. If the Strait of Hormuz remains closed for months instead of weeks, and if the energy infrastructure of the Gulf is seriously damaged, we are looking at an entirely different kind of crisis to the one that finished off the post-w
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