nytimes.com
www.nytimes.com

Countries already walloped by a breakdown of the international trading order, war in Ukraine and chaotic U.S. policymaking are facing potentially lasting economic damage.

Bombs are exploding in Iran and the Middle East, but the fallout is rattling households and businesses in neighborhoods all over the globe.

In Kansas, home buyers saw 30-year mortgage rates edge above 6 percent this week. In Western India, families mourning the death of a loved one discovered that gas-fired crematories had been temporarily closed.

In Hanoi, Vietnam, gas station owners posted “sold out” signs. In Kenya, tea growers and traders worried their exports to Iran would rot on the dock. And across the United States, Canada, Europe, Britain and Mexico, farmers blanched at the surge in fertilizer costs.

The widening war in Iran has delivered a stunning punch to a worldwide economy that has already been walloped by a breakdown of the international trading order, war in Ukraine and President Trump’s chaotic policymaking.

MBFC

Edit: archive.today is broken again. Replaced the original link with a gift link.

  • CosmoNova@lemmy.worldEnglish
    52·
    17 hours ago

    It‘s okay. It‘s only the 4th major price shock in 6 years. We‘re actually getting used to not being able to afford anything. Isn‘t that right folks? Folks? Why are you carrying pitchforks and torches?

    • 3abas@lemmy.worldEnglish
      321·
      16 hours ago

      Why aren’t you carrying pitchforks and torches is more accurate at this point.

  • MinnesotaGoddam@lemmy.worldEnglish
    211·
    7 hours ago

    ABOVE SIX PERCENT OH NO WHATEVER WILL WE DO i think they were fifteen or twenty when i was born get real.

    • EightBitBlood@lemmy.worldEnglish
      8·
      4 hours ago

      What was the average age of homebuyers when you were young? Was it over 40 like it is now? No. How many times have you had federal minimum wage increase when you were young? It’s increased 0 times in the last two decades. Likely close to 11 for you. What was the rate of suicide in adults over 20 when you were young? Currently it’s the 3rd highest rate of death in 2026 just under heart disease and cancer.

      You have near monthly school shootings, or none at all?

      You’re cherry picking. The future we live in now is awful in comparison to what you lived.

      • MinnesotaGoddam@lemmy.worldEnglish
        13·
        2 hours ago

        cherry picking? no, not really. i just know what i’m talking about because i’ve studied it. i don’t really feel like getting into a debate about the changing interest rates, tax rates, allowable depreciation rates in the tax code and what those did to investment, how the allowable depreciation rate changed the prime rate and how REMICs influenced the Fed to lower the prime rate to get them access to cheaper investment capital and how that influenced consumer mortgage rates. just, my point which i guess you need a doctorate in taxation and economics to understand is that corporations can make it worse

  • pulsewidth@lemmy.worldEnglish
    114·
    17 hours ago

    OP are you an undisclosed bot?

    I ask mainly because the ‘Archive’ link does not exist - like the URL has been automatically generated for the benefit of this post, but the content is not hosted on the Web Archive yet. That and the Ai-looking user avatar and mass of news articles posted regularly day.

    Its fine if you’re a bot BTW afaik, but just mention it on posts or in your user profile to set people’s expectations re: errors/etc.