SCMP: Why the global inflation surge could signal an economic collapse
Those who argue that the current trend of global inflation is a "transitory" phenomenon are failing to see the phenomenon in the wider, more worrying, context of what it presages for markets, financial institutions and the global economy.
To illustrate, anyone walking down a street of high-rise buildings during an earth tremor when the buildings begin to sway need not panic, alarming though the experience can be, provided the buildings have solid foundations. Tremors are often transitory and do not always portend major earthquakes.
But if some of those figurative skyscrapers are houses of cards or are built on sand, everyone had better run for their lives. This will be no transitory tremor but a shock that could lay waste to the entire city.
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Update: World Central Banks Under Fire as Cost of Living Surges (VOA)
WNU Editor: Here are some good charts on global inflation .... The unexpected surge in inflation, in charts (Financial Times).
Update #2: It looks like the people who are responsible for these inflationary policies are going to be renominated .... Biden picks Jerome Powell to lead the Fed for a second term as the U.S. battles Covid and inflation (CNBC).
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