economy
A war and maybe an unprecedented depression: it's Trump's mania, but now all of us will pay the price
It had been possible to observe this presidency in abstract terms, but no more. The consequences of the Iran attack will affect our lives and our politics
TL;DR
- An impending energy crisis, comparable to the 1970s oil shocks and the 2022 Ukraine invasion, is deemed unavoidable by the IEA.
- President Trump's actions in the Middle East are cited as the cause of this crisis, leading to threats of Armageddon destruction and a global recession.
- Britain is expected to be severely impacted, facing a deep recession, increased cost of living, inflation, unemployment, and potential rationing measures.
- Governments are urged to take basic fuel-saving actions such as reducing speed limits, car-sharing, avoiding frivolous flights, and working from home.
- The economic crisis may force Labour's manifesto to be abandoned, leading to tax increases to manage the suffering.
- Historical precedents show that leaders often lose power after major crises, regardless of their handling of them.
- Keir Starmer's political position is discussed in the context of the crisis, with his stance against the war being highlighted.
- Labour's electoral prospects are examined, particularly in London, with challenges from other parties and the impact of Brexit on voters.
- The potential for leadership change within the Labour party is considered, amidst uncertainty about sacking a leader during a crisis.
- There is a call for Labour to re-engage with Europe and adjust immigration policies to appeal to a wider voter base.