Ah, the usual suspects: a billionaire, a waterway, and a recession. How original. Ken Griffin, founder of Citadel Securities, is here to remind us that if a critical oil route stays closed, we’ll all be living in a world where gas is priced in euros and existential dread is the national currency.
In a new CNBC interview, Griffin explains that if Iran keeps blockading the Strait of Hormuz-where 20% of global oil passes through-oil prices will skyrocket. Because nothing says “I’m a visionary” like predicting the obvious. “Unfortunately, we have yet to reopen the strait,” he says, as if the strait is a stubborn toddler refusing to share toys.
“The upshot, if the strait remains closed for another six, nine, 12 months, energy prices around the world will go materially higher. It will push the world into a global recession.” Oh, splendid! Because what the world needs is more recession, served with a side of geopolitical drama.
Griffin claims the US is “largely insulated” from oil shocks because it’s a net exporter. Which is like saying a pirate is “insulated” from the sea because he’s on a ship. But he warns that a global recession will “ultimately” hurt the US economy. Because nothing says “resilience” like a country that’s always one bad week away from chaos.
“So we end up in a global recession. Clearly, that’s going to hit US growth prospects…” Yes, because the US economy is a fragile flower, and a single oil shortage will be its final bloom.
Meanwhile, the stock market is “overlooking geopolitical concerns” and focusing on “incredible earnings success.” Because nothing says “optimism” like ignoring the fact that the world might end while you’re busy counting your profits. The S&P 500 is at an all-time high, which, coincidentally, is the same place it was last week. Progress!
Read More
- Gold Rate Forecast
- Blake Lively & Justin Baldoni Settle It Ends With Us Lawsuit 18 Months After Bitter Feud Began
- Man pulls car with his manhood while on fire to raise awareness for prostate cancer
- Assassin’s Creed is getting a live stage spin-off with parkour and choreographed fights
- Avengers: Doomsday Spoilers & Leaks Addressed By Director Joe Russo: “It’s Over-Policed”
- INJ/USD
- Silver Rate Forecast
- 5 Horror Shows I Knew Would Be 10/10 Masterpieces After The First 10 Minutes
- Crimson Desert Guide – How to Pay Fines, Bounties & Debt
- Audible opens first ‘bookless bookstore’ in New York
2026-05-11 11:03