Mint Quick Edit | Will America’s regime-change gamble in Iran come to haunt the global economy?
In a best-case scenario, it won’t—and an oil-price spike would be brief. However, a tail-risk case of another “forever war” could plausibly lend weight to the “Ray Dalio thesis”: that is, of America’s debt pile foreseeably flipping it into a phase of decline, as with over-leveraged empires across history.
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