As I’ve been banging on since last year, inflation will be double digits plus by December.
My argument was based on the impact China’s zero tolerance to Covid was happening on supply chains.
Russia’s invasion of the Ukraine have rocketed those inflationary prices skywards.
We don’t appreciate that Putin is in this for the long run and will take an enormous amount of economic damage to truly mutilate the global economy.
Putin’s desire to cause a war crime is to terrify NATO into submission and the impact on oil, wheat and many metals are a harbinger of the chaos Putin wants.
Expect $5 a litre petrol, $10 loafs of bread and double digit inflation.
It’s all the black swans of the economy coming home to roost all at once.
Tourism for all but the very rich will be gutted.
Watch for food riots in the Middle East, violence in Bosnia-Hercegovina and Iranian/Israel conflict.
The new normal is constant external shocks.
Fortress Aotearoa is an inevitability in such a world.
Unfortunately for the Left, woke virtue signals won’t fix this.
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All the doom mongers on TDB need to take in Dave Brown’s marxist column. A class left fightback in significant parts of the world is the only thing that could turn this shitstorm around.
The inflation is almost entirely due to printing up billions of dollars and paying people to stay at home and not work for multiple months – inflation is, and has always been mostly a monetary phenomena. Combine that Central Banks that refuse to raise interest rates (remember, interest rates should roughly match inflation, so we should be at least at 7% interest now with ~10% mortgage rate) in order to protect over-leveraged businesses and homeowners, and you have an inflationary perfect storm. And it wasn’t just here, but globally, so we can’t just off-shore it either with cheap labour. Inflation was already a looming problem well before we heard anything about Russia and Ukraine and our leadership is being incredibly disingenuous (I’d go as far as outright lying) to say otherwise.
BREAKING F…K’N NEWS!
The LINO’s have figured out what a ‘Crisis’c looks like and have dropped the price of fuel by 25 cents per litre for 3 months!
Now, will Auckland Council follow suit by bringing Auckland into line with the rest of the country! And dump the surcharge 10 cent tax of the $182m they haven’t spent yet.
and how long will it take for inflation to eat thet up?
Putin is in it for the long haul because if he fails, the United States will walk all over him and Russia, One really has to understand the bigger geo-political-economic picture to under the conflict in Ukraine. Putin invaded Ukraine because he was left with no choice by the United States. This is a United States initiated war.
inflation can be seen as the opportunistic hiking of prices in a time of artificial shortage by companies unwilling or unable to meet demand….becuzzz, andddd all together lads….SHORTAGE IS PROFITttttttaaah
not the usual ‘workers pay goes up, prices go up’ voodoo economics is it?
Just as well we’re an agricultural country which exports the surplus foods our 5.1 million can’t eat to return the billions in export revenue we need to function then. That surplus food can feed another 37 million so I read here.
Just as well we have oceans heaving with fishes, just as well we have fruits, cheeses and the flesh of many different kinds of slow moving, easy target animals to eat then.
Just as well we have one of the largest LPG gas fields per head of pop’ yet to be tapped then.
Shell oil? Can you explain just how you managed to stab Todd Group and our politicians in the back then? Making LPG unaffordable and non competitive then.
Just as well we have vast hydro generated electricity spilling from billion ton per day fresh water reserves then.
We have a crisis alright. It’s a crisis of stupidity versus greed. We have a crisis of having a country so beautiful, so bountiful, so easy to live on, so advanced, so precious, rare and priceless that we’re just too fucking stupid to come to realise that. Instead, we get spooked by worthless, useless, lazy politicians into believing we’re at risk when we’re clearly not just to cover the arse’s of the crooks who’ve been exploiting us for generations lest we soon see that we’re surviving far too extravagantly therefore we might ask “So how come that then, suddenly? “
Aye Boys?
This is excellent viewing in my opinion. It might seem off-topic but it’s not.
16 minutes of enlightenment.
Russell Brand explaining the spectrum of a narrative.
With the increasing amount of media banned, defending freedom and democracy sure seems to require an awful lot of censorship.
” The smart way to keep people passive and obedient is to strictly limit the spectrum of acceptable opinion, but allow very lively debate within that spectrum- even encourage the more critical and dissident views. ” Noam Chompsky
https://youtu.be/utkM1bwlXqE