"Demand destruction"

I don't know if this term will work its way from the business/economic community to the general press, but it is a useful term. Here's the Wiki:In economics, demand destruction refers to a permanent or sustained decline in the demand for a certain good in response to persistent high prices or limited supply. Because of persistent high prices, consumers may decide that it is not worth purchasing as much of that good, or seek out alternatives as substitutes.I've heard that phrase expressed in interviews on the Bloomberg channel and on Al Jazeera, but today I encountered the phrase in a Facebook post by Mohamed El-Erian:I will reiterate my previously-expressed belief that the U.S. equity markets are trading at unsustainably high levels based on irrational expectations of a quick resolution to the current Gulf conflict (based on part on Trump's totally irrational claims of such), combined with positive economic news from the small sector of AI-related companies that are overweighted in…