Although Brent crude oil’s price has fallen about 25 percent from its high of $128 a barrel last March, oil importers are hard pressed to see much difference: the dollar has gained about 15 percent in value since then, forcing importers outside the U.S., including China, the European Union (EU), and India to still pay premium prices in their own currencies to settle their oil bills.
The world is headed into Dragflation: Declining economic growth and rising inflation.
The U.S. Federal Reserve is no stranger to allegations of ethical lapses, as we have reported in “Bankster Bandits Get Richer Playing the Inside Track” (14 Sep 2021) and “Fed’s Bankster Bandits Get Free Ride” (22 Sep 2022).
After the traditional summer travel season ended, airline bookings remained strong, airlines reported. Instead of sales drying up between Labor Day and Thanksgiving, people kept flying in September, United Airlines said.
“The world is in a dangerous place,” Sri Mulyani Indrawati, Indonesia’s finance minister, said in her closing remarks to the joint meeting of the World Bank and International Monetary Fund (IMF), held in Washington, DC, 10 through 16 October.
The world is headed into Dragflation: Declining economic growth and rising inflation. This combination of rising prices and rising interest rates whereby people pay more to buy less has resulted in companies in many sectors to lay off employees.
The value of mergers and acquisitions that companies announced during the first nine months of this year is 34 percent below those making the news during the same period in 2021, data service Refinitiv reported.