The vibes I'm getting with this Suez story is similar to the ones in early Feb 2020 with Covid. Most people are sleeping on this, mostly joking that it's a non issue that would be resolved quickly.
I have a feeling the system is way more fragile than we realize. Shutting down 10% of global shipping routes indefinitely can mean disaster. Not just a 10% bump in some commodity prices.
We're not thinking this through far enough.

@pox That's actually a very good point. Is the ship out yet or is the whole canal still blocked?


@Bitcoinlabrador it’s going to remain blocked a while.

@pox @Bitcoinlabrador

There is an alternative route around the Cape of Good Hope, but it's 6000km longer.

To me this looks like yet another indicator of incoming high inflation and more shortages of certain goods.

There's already a microchip shortage in Europe (for things like cars and even washing machines etc).

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