Dr. Mark Thornton: ‘Firestorm’ to hit Global Economy & The Commodity Supercycle

Your host, Stijn Schmitz welcomes back Dr. Mark Thornton to the show. Dr. Mark Thornton is Economist and Senior Fellow at the Mises Institute. This discussion centers on global economic disruptions, particularly in commodity markets and energy sectors, stemming from geopolitical tensions in the Middle East. Dr. Thornton highlights the significant impact of potential oil and gas supply disruptions, estimating that 15-20% of global supply might be affected. Timestamps: 00:00:00 – Introduction 00:01:05 – Global Economy Uncertainty 00:04:10 – Middle East Disruption Impact 00:04:57 – Stock Market vs Oil Discrepancy 00:06:52 – Supply Chain Byproducts Effects 00:11:13 – Oil Cutoff Long-term Consequences 00:14:33 – Global Pain Points Analysis 00:22:38 – Reshoring vs Free Trade 00:31:26 – Natural Gas Opportunities North America 00:39:08 – Unleashing US Resource Potential 00:43:43 – Petrodollar System Cracks 00:50:25 – Gold Settlement Currency Role 00:56:03 – Gold & Fiat Currencies 01:02:42 – Concluding Thoughts Guest Links: Website: https://mises.org X: https://x.com/DrMarkThornton E-Mail: mailto:mthornton@mises.org YouTube: https://www.youtube.com/results?search_query=mark+thornton+minor+issues Book-Hayek: https://mises.org/library/book/hayek-21st-century-essays-political-economy Dr. Mark Thornton is a Senior Fellow at the Mises Institute and formerly held the Peterson-Luddy Chair in Austrian Economics. He hosts the podcasts Minor Issues and Unanimity and is Book Review Editor of the Quarterly Journal of Austrian Economics. His books include The Economics of Prohibition, Tariffs, Blockades, and Inflation, The Bastiat Collection, and The Skyscraper Curse. He has served on multiple editorial boards, taught economics at several universities, and worked as Assistant Superintendent of Banking and adviser to Alabama Governor Fob James. He holds degrees from St. Bonaventure University and Auburn University and has debated the “War on Drugs” at the Oxford Union. Dr. Thornton has been featured in major outlets such as The Economist, Forbes, New York Times, Wall Street Journal, and USA Today, along with numerous international and regional newspapers. His commentary appears regularly on the Mises Institute’s platforms and on programs such as Boom-Bust, the Tom Woods Show, and the Scott Horton Show.