I have decided to stop posting about globanomics until "World Peace Day".

On a different subject, inflation.  Several times lately i have heard the news people call out the fact that inflation is at a "forty-year high".  That sounds outrageous!

Well, no shit.  Globalization has been operating quite well these past forty-years--keeping inflation low (something Greenspan never understood).  It's the pandemic that caused this bump in inflation.  How long will this inflationary period last.  Like the President said yesterday, hopefully not for long, but one thing for sure, it will end as things start getting back to normal after the pandemic.  

None of us like inflation, but it should not become a voting issue.  Biden is working hard to bring inflation back down.  His oil moves alone (i.e., strategic reserve, Russia ally, investigating the oil companies gauging), will return gas prices to last year's numbers very soon.  People use "gas prices" as their best measure of inflation--it is something they see daily.  That's the first inflationary issue to address for an "energy independent" nation.  Get gas prices back down and most people will think inflation is over.  Then keep working at getting the port goods situation cleaned up.

The world is going to change a bit with World Peace.  In truth, i think it's going to take a while before it all sinks in for people.  A lot of our "old thinking" is going to be turned on its head, and we are going to have to learn to trust our allies--which i envision to be all the countries of the world.  There should be no resentment towards the United States as the leading country of the world.  We deserve that role.  And it is time we use our status to lead the world onward and upward with love and understanding.