The general mood at the moment is one of fear and trepidation: that’s the view of one of the South East’s leading economists.
Jim Power said that the US/Israeli war in Iran had added to public concerns over inflation and rising energy prices.
Oil prices have jumped since the start of the Iran conflict, disrupting vital shipping routes and continue to rise despite 32 countries agreeing to release millions of barrels of oil from their reserves to try to stabilise the market.
It follows new attacks on ships in the Middle East – with two tankers ablaze off Iraq.
Mr Power offered the following assessment to KCLR News’s Dermot Keyes; “People are looking at what’s happening at a global level and they’re thinking about the impact number one it’s going to have on their costs of living, costs of doing business, jobs so it’s a scary time there is no doubt about that, there is no other way of describing it and you’d hope that human nature and sanity wins out in the end but we’re in a very, very dangerous place at the moment, I have to say it certainly would keep you awake at night if you thought too long and hard about it”.
