How bad will this get?

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Recommended follow-up articles:

What if Trump bans oil exports? https://www.economist.com/finance-and-economics/2026/03/18/what-if-donald-trump-decided-to-ban-oil-exports
Even the best-case scenario for energy markets is disastrous: https://www.economist.com/finance-and-economics/2026/03/22/even-the-best-case-scenario-for-energy-markets-is-disastrous
Donald Trump has four bad options for the war in Iran: https://www.economist.com/middle-east-and-africa/2026/03/22/donald-trump-has-four-bad-options-for-the-war-in-iran

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SOURCES:
I’ve linked my sources in the blog that goes along with this video. Links are in the text.
https://www.moneymacro.rocks/blog

Timestamps:
0:00 – intro
2:10 – context
10:38 – scenarios
17:00 – other effects

Attribution:
Music by Epidemic Sound: http://nebula.tv/epidemic
Thank you to AP Archive for access to their archival footage.
Stock footage and others clips by Getty

Narrated and produced by Dr. Joeri Schasfoort

source