Inflation Nears 20% As Globalization Reverses

The combination of an existing problem of monetary inflation is now being compounded by the Biden administration's petulant effort at sanctioning the entire non-Western world devolving into de facto de-globalization. The net effect of all this will be a seismic decline in American living standards. The process of import substitution will result, at the very least, in a de-complexification and simplification of consumer goods even after the economy has time to fully adjust.