Gate News reports that on March 9, market strategist Michael McCarthy stated that the threat to oil refineries is very concerning because it points to the worst economic scenario. He said that if 15% to 20% of global oil supplies are cut off, it will not only slow down growth in all economies worldwide but also trigger inflation shocks. When inflation is combined with slowing growth, it results in stagflation (i.e., inflation and economic stagnation coexisting), which would be an economic disaster.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Former Treasury Secretary Paulson: Contingency plan for a U.S. debt crisis must be prepared in advance; consequences will be very severe
Former U.S. Treasury Secretary Henry Paulson urged U.S. authorities to draw up contingency plans to address a potential collapse in demand for U.S. national debt when he was interviewed by Bloomberg on April 17, 2026 (Thursday). He said that once a crisis erupts, the consequences would be extremely severe. On the same day, the U.S. Department of the Treasury completed the largest debt buyback in a single transaction in history, accepting approximately $15 billion in old bonds maturing from 2026 to 2028.
MarketWhisper20m ago
Former U.S. Treasury Secretary Paulson Warns of Potential U.S. Debt Market Demand Collapse
Former U.S. Treasury Secretary Henry Paulson warns of a potential collapse in U.S. Treasury demand, which could destabilize the financial system and erode confidence in the dollar, shifting investments to Bitcoin and gold. Tether may face risks as well.
GateNews2h ago
U.S. Stock Indices Rally, Nasdaq Extends 12-Day Winning Streak to New High; China's Golden Dragon Index Surges 1.74%
U.S. stock indices closed higher on April 16, with the S&P 500 reaching a record. Tech stocks surged, particularly within the semiconductor sector and Chinese companies. Crude oil prices rose, while precious metals declined. Analysts offer mixed views on the rally's sustainability amidst geopolitical tensions involving Israel and Lebanon.
GateNews3h ago
U.S. Money Market Funds Assets Decline by $175.81 Billion to $7.64 Trillion
The Investment Company Institute reported a $175.81 billion drop in U.S. money market fund assets to $7.64 trillion for the week ending April 15, with significant declines across taxable and tax-exempt funds.
GateNews4h ago
South Korea's KOSPI Index Opens Down 4.55 Points, Japan's Nikkei 225 Falls 0.38%
On April 17, South Korea's KOSPI index dropped 4.55 points, while Japan's Nikkei 225 fell by 227.62 points, indicating weakness in major Asian equity benchmarks.
GateNews5h ago
Optimism boosted by the U.S.-Iran ceasefire agreement helps Bitcoin hold steady at 75K
Israel and Lebanon reached a 10-day ceasefire agreement, U.S. stock index benchmarks hit new highs, and market sentiment is optimistic. Bitcoin is hovering around 75K; with capital flowing in, the rally is gradually gaining momentum. Keep an eye on the 78K resistance level.
ChainNewsAbmedia5h ago
