---
title: "Not the 1970s: why the oil shock is not a stagflation replay — and what it actually signals"
description: The surge in oil prices following US-Iran tensions has revived fears of stagflation. Those fears are misplaced. What markets may actually be pricing is a structural regime shift — from paper assets to real ones.
---

[Slow food for thought](https://blog.syzgroup.com/slow-food-for-thought)

# [Not the 1970s: why the oil shock is not a stagflation replay — and what it actually signals](https://blog.syzgroup.com/slow-food-for-thought/not-the-1970s-why-the-oil-shock-is-not-a-stagflation-replay-and-what-it-actually-signals)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/slow-food-for-thought/author/charles-henry-monchau) | Mar 12, 2026, 4:53:06 PM

<https://blog.syzgroup.com/hubfs/Focus_260312_Stagflation.pdf?hsLang=en><https://blog.syzgroup.com/hubfs/Focus-Changing%20investment%20preferences%20from%20boomers%20to%20GenZ-31.08.23.pdf?hsLang=en>

[View full post](https://blog.syzgroup.com/slow-food-for-thought/not-the-1970s-why-the-oil-shock-is-not-a-stagflation-replay-and-what-it-actually-signals)

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