A surge in business activity in April looked rosy on the surface, but experts say it's really a sign of fear as companies stockpile goods during the Iran war. The episode also covers a short squeeze in Avis stock, the opening of the first round of tariff refund applications, and a historical deep dive into 1970s oil price caps to understand the economics of price controls.
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Canon
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1970s oil price caps show the pitfalls of government price controls
Marketplace looks back at the 1970s to understand how oil price caps led to shortages, long gas lines, and black markets.
April's business activity growth was fear‑driven stockpiling
A rosy reading in S&P Global's purchasing managers index for April is actually a sign that businesses are hoarding supplies during the Iran conflict, not healthy demand.