The World is Boiling

The world is boiling, and we all feel the heat! Prices are going over the roof, and people can hardly afford ends meet. Fuel prices are skyrocketing thanks to OPEC’s greed and insensitive reduction of oil production in these hard times just to shore up the price of oil. Just this week, the US Federal Reserve increased the prime/borrowing rate by 75 base points (now at between 3.75-4%) to curb inflation.

And what’s the result? People are pulling their investments from all over the world to buy US Government bonds, strengthening the US dollar and weakening currencies the world over. Concurrently, the Bank of England also increased the borrowing rate of Great Britain by 75 points to 3% (it has now been increased again in June to 5%), dropping the pound by 2% against the dollar. What does this mean for you? It means trade, goods, and services will be more expensive as global trade is conducted in dollars. While your income remains the same, you are buying imported goods, fuel, and other services at a higher price. This is making you poorer as you can not save money or your current income can not see you to the end of the month.

During COVID, global trade was hampered by lockdowns and container shortages. More than 90% of containers used for global trade are made by three Chinese companies. And during the lockdown, they increased their prices. MAERSK, the Dutch company with a global monopoly over sea transport, and other shipping lines increased freight charges astronomically. Indeed, these sea trading companies made astronomical profits during and after COVID-19! And now, oil companies are also making huge profits, with Shell, Total, BP, and Engen posting billions of dollars in profits!

People are angry, yet helpless! From Australia and  New Zealand to Greenland, Canada to South Africa, and Japan to Venezuela, food and goods are becoming unaffordable! Fuel prices are unbearable. It is called inflation. While a few are profiting, the masses are being plunged into debt, suicide, and penury.

I feel especially sorry for the low earner and unemployed; before the pandemic (in 2018), there were BBC reports of female tenants giving sex to landlords to replace rent. Now that things are worsening, what will they do?

Governments are confused. People are desperate. Businesses are scared. The stock market is bearish. What is the way forward? In these times, I can but lead you to🫳🏼 One I know. One who fed millions with manna on a desert for 40 years. One who gave light in the darkness; One who fed more than 5000 with a loaf of bread and five fishes. One who directed for a gold coin to be taken out of a fish! It is to Him, that I direct thee🫵🏼. With Him, all things are possible.

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