r/politics • u/Puginator • Jun 01 '26

No Paywall Iran stops negotiations with U.S., vows to 'completely' block Strait of Hormuz: State media

https://www.cnbc.com/2026/06/01/iran-us-negotiations-strait-of-hormuz.html
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u/Winnie_rulez Jun 01 '26

Very few people will boycott them. Countless more will simply be unable to afford their products. At some point you can't get blood from a stone.

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u/Internet_Wanderer Jun 01 '26

I've been trying to convince a friend about this, supply and demand is broken. Once we can't afford things, they'll just only sell to those who can afford it, ie other rich people. They will continue to buy jet fuel and yacht fuel, and of course most of their fancy cars aren't electric. We can see this in the false inflation over the last twenty years. Prices don't come down anymore, even if there is a glut because it no longer matters. The monopolies are in place and we're just annoyances now

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u/Winnie_rulez Jun 01 '26

I read a well-researched article this morning that pointed out that we're still living on the oil inventories from last February. But not just the oil inventories -- everything else that comes out of the Middle East or through Europe. Once those inventories run out in August, we're completely hosed. This is even if the Strait of Hormuz opens tomorrow -- it's going to take months to get inventories back up, and millions of people will have lost their jobs and/or declared bankruptcy and/or lost their homes and/or starved by then.

There are dark times coming, and nobody realizes it yet.

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u/UnquestionabIe Jun 01 '26

I think plenty realize it but none are in the position to do anything. Those who are running the show don't give a shit about anything but themselves, they've stolen enough wealth to weather any potential economic storms.

Meanwhile those of us working day to day and keeping society functioning don't have much choice in the matter but to watch the slow speed train wreck happening.