The Economist: From Gaza to Ukraine, wars and crises are piling up
These are not happy times.
An Israel-Hamas war in Gaza threatens to spread across the Middle East, with America and Iran facing off in the background.
The Ukraine war, Europe’s largest since 1945, shows no sign of ending.
And Chinese jets and warships now menace Taiwan in growing numbers and with increasing frequency, with looming elections on the island likely to bring more tumult.
Civil conflict in Mali, Myanmar and Sudan has worsened in recent weeks, too.
Adversaries such as China and Russia are more assertive, and working more and more together. So too are non-aligned powers, including India and Türkiye, which have growing clout to shape distant events and believe that a new and more favourable order is emerging.
And the possibility of a war directly between major powers hangs over the world, forcing countries to keep one eye on the future even as they fight fires today.
THE COST OF THE AMERICAN DREAM HAS EXPLODED.
Owning a home.
Buying groceries.
Driving to work.
Paying insurance.
Even your morning coffee.
Nearly every major household expense costs dramatically more than it did just a few years ago.
Over the last 7 years:
• Coffee: +127%
• Home prices: +60%
• Auto insurance: +51%
• Gasoline: +49%
• Electricity: +44%
• Shelter: +35%
• Groceries: +33%
And that's before paying for healthcare, transportation, or eating out.
This is why so many families feel like they're falling behind even when they get a raise.
The biggest financial problem for millions of Americans is that everything is going up at the same time, while the government keeps showing a 2% inflation target.
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