Wednesday, April 27, 2022

Sadly, knee-jerk America will elect Republicans

They'll blame Democrats, not Putin.
The war in Ukraine will result in expensive food and energy for the next three years, the World Bank has warned, intensifying fears that the global economy is heading for a rerun of the weak growth and high inflation of the 1970s.

In a gloomy analysis, the Washington-based development organisation said there was a risk that persistently high commodity costs lasting until the end of 2024 would lead to stagflation – sluggish activity combined with strong cost of living pressures.

[...]

As a result of trade and production disruptions caused by the Russian invasion of Ukraine, the Bank is forecasting a 50% rise in energy prices this year. It expects the price of Brent crude oil to average $100 a barrel in 2022, its highest level since 2013 and an increase of more than 40% compared with 2021. Prices are expected to fall back to $92 in 2023 but will remain well above the five-year average of $60 a barrel.

  Guardian
...but hey, do what you want...you will anyway.

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