This new crisis, emerging on the horizon, appears to be more inconvenient than the pandemic crisis.
The type of global economic suffering now emerging, is called stagflation: inflation and stagnation. The degree of stagflation this time next year, will be greater than it currently is.
Food price and availability become issues, when one reduces availability of nitrogen fertiliser, which is made from natural gas, while also reducing fuel supplies needed to harvest and transport the food.
Oops, and by the way, Trump did not believe Iran would close the straits, even though advisors told him they would.
When the energy index rises in price, all the components of the energy index rise, meaning electricity also rises in price.
When everything rises in price, the Reserve Bank raises the interest rates, thinking that is helpful to dampen demand.
But these price rises are not demand driven and therefore, it’s not appropriate to raise interest rates, as they do, when prices go up. That simply maximises consumer’s suffering.
Today every thing is fine, but for how long?
For four decades The Echo has printed the stories some people loved, some people hated, and some pretended not to read. If you want us to keep telling the truth, the real truth, not the sugar-coated version. We’ll need your support to keep the presses rolling. 
