Another of my predictions is coming true.
It is being reliably reported that the Houthis in Yemen have taken control of access to the Red Sea. If that is the case, we can assume access to the Suez Canal is blocked. This massively increases the scale of all Far and Middle East supply chain issues (and I apologise for using the colonial terms to aid communication on this occasion).
The world's economic crisis just deepened, as I forecast months ago. That previous post is worth re-reading now.
This is moving beyond concern into a crisis.
When will Burnham react?
Will Healey notice?
Those are the questions to be asked, because if they do not, things will just get much worse, and very quickly.
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You ask if Burnham and Healey will notice and when. It’s almost as if contingency planning for trade disruption is not a core government competence, and should perhaps be left to the experts who are the traders themselves.
Regrettably Burnham and Healey appear fixated on fictious fiscal purity over what is actually happening in the world.
It has been clear for months that a huge economic crisis is looming. What have we had in response from our politicians? Apart from “stock up on toilet rolls”, silence.
We can expect them to concur with Bailey that the only thing to do is push up interest rates and cut services.
The world is in a very dangerous place.
The Houthis have more drones and ballistic missiles than the Saudis. They are battle hardened and independent. Iran may arm and advise but Iran does not control the Houthis.
All the talk of tactical nuclear bombing by the US and Israel being now the only way to finally defeat Iran is madness. What are the US and Israel thinking? There is no such thing as a limited effect of nuclear weapons. Thousands will die.
Do they expect Iran to surrender if this happens? No way will Iran do that. Israel and the Gulf states may well become uninhabitable if Iran retaliates as threatened after such an attack.
Many concerns to agree with
In fairness to Burnt-ham and school-boy-Healey I’m not sure what they can do. Ask the BoE to raise interest rates? that’ll fix it (just like the ECB did).
Quite clever tactics by the Houthis & Iran. The two straits (Hormuz and Red sea) could be characterised as a pair of testicles – & Iran has one in each hand. Can’t think what they will do next, squeeze?
None of this would have happened were it not for two & only two people: tRump and Net & Yahooo. They own this 100%. The Irish could pull the plug by sending tRump to the ICC & any EU country doing the same with Nat & yahoo. In the mean time it is all set fair for the US mid-terms and global chaos.
Or perhaps not. While the Houthis have indeed made gains, they are also brushing up on their PR and at pains to be seen as responsible and internationally acceptable.
https://splash247.com/houthis-advance-towards-bab-al-mandab-with-capture-of-mokha/