US Inflation Becoming Everyone’s Problem

The US economy is going through an unusual period with many trouble spots, including an unsustainable wage growth from a tight labor market, inflation from supply-side disruption triggered by a confluence of factors such as the trade war with China and the Russia-Ukraine war. Moreover, the monetization of the historically high federal budget deficit of $5.90 trillion in fiscal 2020 and 2021 has created asset demand that pushes up inflation.

China Donations, Media Bias, Anti-Poverty Efforts

Rappler did not even include China’s donations in its initial December 21 report “Countries offer aid after Odette,” but later did update it. Inquirer’s “Foreign aid pours in for ‘Odette victims” story starts with the pledges (not yet fulfilled) of the US ally countries first, starting with Canada’s commitment of up to CAN$3 million, the European Union’s allocation of 1.7 million euros, South Korea’s pledge worth $2 million, and what Japan and the US “will provide.”