I think there are elements of this happening around the globe already due to climate breakdown and unstable geopolitics and a move to the right in many countries. I think of the Spanish olive trees dying in extreme heat, which will increase the price of olive oil, just as a single example.
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I think what is most concerning is that we are already leaning so close to the narrative that it doesn't even seem like a stretch to get to the worst parts.
30 years ago it did.