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The Guardian - UK
The Guardian - UK
Comment
Polly Toynbee

A war and maybe an unprecedented depression: it’s Trump’s mania, but now all of us will pay the price

Donald Trump speaks to members of the media as he departs the White House, 26 September 2025.
Donald Trump speaks to members of the media as he departs the White House, 26 September 2025. Photograph: Kevin Dietsch/Getty Images

Nothing has changed. Yet. But we stand on the edge of inevitable economic cataclysm, such as not seen in our lifetimes. It’s an odd, hold-your-breath moment, waiting for what the International Energy Agency (IEA) says is now certain to happen: an energy crisis so critical it will be the equivalent of the two oil crises in 1973 and 1979 and Russia’s 2022 full invasion of Ukraine, put together.

The IEA says it’s already too late to prevent this impending energy crisis. President Donald Trump has swerved the Armageddon destruction of oil and gas facilities threatening the entire Middle East, but too late. The deep recession, probably depression, that his war has caused is heading around the globe. Britain will be hard hit.

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