Why isn’t anyone panicking?

The S&P 500 is near all-time highs. Crypto is up. And yet the US has started its biggest Middle East war since Iraq, and 20% of the world’s oil just went offline. Why is most everybody pretending things are normal? The conflict is massive The official communications are chaotic about the goals of the military operation. There is no clear off-ramp in sight, and the conflict keeps escalating.…