Twitter founder, Jack Dorsey has tweeted out a rosy prediction that “hyperinflation” is coming. ZeroHedge seems to agree, noting jitters in money markets. They report that the Reserve Bank of Australia shocked traders after refusing to buy a two-year bond. US Treasury Secretary Janet Yellen conceded that inflation will continue for a while, but should level out around the middle of next year. But maybe the chickens may have come home to roost. UnHerd did a quick review of how we got here, with “quantitative easing” making economies reliant on printing money and central bankers gathering power to themselves.
We at Mad Mondays are certainly not economists, but we do know who owns the cattle on all the hills. There is need for temperance and prudence in these days, but we do not need to despair. St Paul told the Philippians that God would supply all their needs and as Rev Fisk has said, for reminders of God’s faithful provision, Psalm 37 is the bomb. “I have not seen the righteous forsaken, nor his descendants begging bread.”
Meanwhile, CNBC reports that people are not spending as much. Perhaps that is because things are more expensive? McDonalds and Coca-Cola put their prices up in response to rises in CPI.
In crypto news, Mastercard has said it will allow crypto transactions. And in weird crypto news, there is a new Doge coin competitor and investors are bidding on a cube of tungsten which is located in Illinois. The winning bidder will not be able to ship the cube, but will instead be allowed to visit it once a year.
The director of the United Nations World Food Program has called on Elon Musk to help feed the world’s hungry. Musk said if the UNWFP could show how his money would help solve the problem of world hunger, he would gladly give a few billion to the cause. Maybe Musk knows what Jesus said about the poor always being with us..