How the US-Iran oil standoff could hurt the economy

New York (CNN Business)The American economy is already absorbing a body blow from the deepening US-China trade war. A real war could be more than the decade-long economic expansion can handle. “Oil shocks have killed more US economic expansions over the last 40 years than any other single cause,” Nicholas Colas, co-founder of DataTrek Research, wrote in a note to clients. Besides long lines at gas stations, the Saudi oil embargo of 1973-1974 helped set off a jump in oil prices that crippled the economy. The Iranian Revolution of 1979…

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