In times overshadowed by uncertainty, crises often stem not from a lack of resources as much as from a lack of truth. When the official narrative is delayed, and the role of professional media recedes, ambiguity infiltrates the general scene, and a rumor evolves from an impression to fact, and from fleeting news to entrenched beliefs that shape economic behavior, and here the market no longer reflects reality but mirrors fear.
Who dissipates it..!?
Fear, by nature, does not wait for verification and thus spreads faster than facts, feeding on ambiguity and obscurity. With each unconfirmed piece of information, or irresponsible analysis, a state of collective anxiety forms, driving the citizen to defensive behavior. An irrational rush to purchase due to anxiety, unjustified hoarding, and anticipation of perceived shortages.
These behaviors, while seemingly individual, quickly transform into a frenzied wave of artificial demand creating a real gap in the market and a state of consumer panic.
On the other hand, the other side of the crisis reveals the greed of some merchants. In the absence of effective regulation or clear understanding, they seize the moment as an opportunity rather than a responsibility, thus inflating prices under vague justifications that have become clichés or a constant linked to crises. Rise in shipping costs, regional conditions, supply chains, and other market tunes.
The problem isn't the presence of these factors, but their exaggeration beyond their true scope, and their psychological exploitation before economic impact.
Notably in this context, when the official narrative is finally clear, it reveals the gap between reality and impression. The Minister of Industry and Trade has confirmed that the supply chains are operating normally, and the number of containers arriving at Aqaba this month is roughly equal to the same period last year.
These are not just numbers, but a clear indicator that the market has not experienced actual disruptions that justify the escalating behaviors and deliberate price inflations, or even this consumer panic.
While insurance costs on ships do rise in unsettling times or wars, which is normal in risk calculus, what is often overlooked is that these rates aren't static. Historically, they start to decrease gradually after the initial days of a crisis and stabilize with clearer signs of stability and continued supply flow. The most realistic factor in raising costs is a temporary condition, (unless driven by the same greed motives) and not a justification for sustained exaggerated increases.
What is happening isn't just a supply crisis as much as it is a crisis of confidence.. based on a drought or slow incomprehensible flow of information, in the capability of media institutions to play their role, and in the quickness and clarity of official media discourse.
When these elements are missing, rumors, misleading information, and analyses lacking in facts fill the market void with irrational reactions, exaggerated trading by merchants, hurried consumers, and an unbalanced market.
The outcome is necessarily not just rising prices, but a disruption in the entire system; rumors turn into an economic stimulus, and fear becomes a driver for demand—this is one of the most dangerous forms of crises, those that we create ourselves.
The solution lies not only in regulation or penalties but in restoring reliable information as a tool to control the market through professional media, a coherent official narrative that reinstates trust in state tools and roles, and transparency in figures and facts to ensure the restoration of trust, and break the cycle of fear and greed; as the market isn't just run by supply and demand, but by awareness.
