As a young teenager on the geomorphic scale, the Himalayas is a living, moving giant working out its destiny in a cycle of upthrustings and weatherings
Restrictions on food exports imposed by countries to protect their own supplies from the effects of the war in Ukraine, El Nino and climate change are leading to shortages of essential foods like rice, cooking oil and onions. These shortages are causing prices to triple and making staple ingredients unaffordable for many households. The high cost of growing and transporting produce, along with the worst drought in decades, has led to a drop in local production in some countries, exacerbating the problem. Globally, 41 food export restrictions are currently in effect.
U.S. Federal Reserve Chair Jerome Powell said emphatically last week that people "hate inflation, hate it," but he left another fact unspoken - they also punish the politicians in charge when prices rise. The central bank's quest for a "soft landing" of more slowly rising prices and continued economic growth looks increasingly probable. In fact, the U.S. may hit a sweet spot just as the 2024 presidential election campaign crescendos next year.