Our globe is currently under big pressure from all angles and the current restive U.S. – Russian situation over Ukraine is only one part of the whole story.
As we all know, the world economy is failing, and most countries are being hit by unprecedented inflation of up to 211 per cent, as in the Argentine, compared to our official Government index of only 4.3 per cent.
Most Australian shoppers report, however, that this official figure does not in any way represent the current inflationary high costs of their individual food, insurances, electric power, transport, schooling, childcare, fuel and rents. Instead, they point to household inflationary figures more like 15-25 per cent — and more.
As a result of the present period of excessive rising inflation around the globe, political and economic instability is becoming a general world-wide trend. International food and goods distribution systems and their transport routes are being challenged by far bigger overall costs — and we still have the two ongoing inflationary high-costing major wars and rebellions in Africa and elsewhere to also contend with.
From all this, we can adduce that history is repeating itself once again by comparison with the periods of high inflation before all past recorded wars. The end of slavery by military action in the late 1800s, for instance, even saw a similar inflationary situation leading to the declaration of the First World War.
The 1920s also had us experiencing a high-spending period which caused unprecedented inflation around the world, eventually ending in the Second World War in 1939.
Like the inter-nation invasions of today, the 1930s also saw Nazi Germany invading neighbouring European countries while their Japanese compatriots invaded China, and Italy’s Fascist Government took complete control of Albania and Ethiopia in Africa.
All this happened to produce a period of high inflation while the Nazi and Japanese Axis warlords continued to unsuccessfully plan the defeat of the West by armed combat.
We yet again overspent our resources and incomes after WWll in the 1950s, 60s and 70s and eventually have had to pay for the emergence of inflation which has gathered speed since the start of the Covid pandemic four years ago.
This set of unfortunate inflationary instances is forcing us to face even more stringent inflation-affected times in the future unless we take some drastic action now to curb it.
There is little doubt that both Russia and China will continue to influence future inflationary price hikes by continuing to gird their military loins for a possible threatened joint Communist campaign against the West.
This unfortunate set of circumstances has already forced Australia to hastily invest big money in more costly military armour and Naval ship and submarine orders. In the past, high national expenditures of this nature have always further bolstered rising inflation at both government and consumer level.
As a consequence of all this, there is no doubt that we in Australia have to become far more aware of the damaging effects of our present and future inflation which historically ends in poverty in many quarters and the part-destruction of the middle class.
As things stand at present, we already have in this country 3.3 million seriously inflation-affected people living below the breadline income of $458 a week.
Another one of our current challenges is that we have Russia attempting to defeat Ukraine, and Israel taking action in Palestine — two major hot spots of hostility liable to become the basis of far bigger and more expensive inflation- based wars in the long run.
Russia’s action against Ukraine has already seriously affected world finance by causing big inflationary price rises in oil, fuel, fertilisers and grain, among other essential items.
The Palestinian situation, on the other hand, is a trigger point for threatened serious future warring in the Middle East, a possible cause of further serious inflationary pressures throughout the globe.
As for most people in our shopping centres, inflation is responsible for a crippling cost-of-living rise, enough for it to now be regarded as “Public Enemy Number One.”
In addition to our concerns over inflation, we also have to remember that the United Nations requires countries, such as Australia, to award their Indigenous people fully subsidised sovereignty over their land by the target year of 2030.
This aim by the world body is part of its 17-point plan to “reshape the world.” In terms of the U.N.’s requirements within the next six years, Australia, Canada, the U.S., and some South American states are under pressure to financially repay their indiginees for the use of their land and award them instant subsidised self- government over their tribal areas.
Such a measure is yet another way to make inroads into our national economy with threats of further continued inflation. By the year 2030, the U.N. also intends to create a new international trading system and, among other requirements, change taxation in favour of the poorest sections of society, yet another inflationary prospect for some members of our community.
The national introduction of more expensive electric cars and trucks is yet another inflationary hurdle for us in Australia to overcome, just as our forefathers experienced when they had to replace their horses and carts with the introduction of the first petrol driven automobiles before the First World War.
As we said at the outset, history does unfortunately repeat itself to the detriment of our individual and national bank balances. Our hope is for a greater measure of world peace without any sense of commercial greed for greater financial profits.