World economic pressure has nations considering rationing fuel, food vouchers

Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Gas rationing, food vouchers and hunger: Economic pain from Russia’s war is getting real
  • Forecasts for global growth are being slashed and the chance of a US recession in 2023 has risen to 35%, according to Goldman Sachs.
  • Sanctions and other supply-chain disruptions have sent consumer prices surging across the world as oil and other commodity prices have spiked. Soaring gas and diesel prices are also adding to the cost of food, heightening fears that the world is on the brink of a hunger crisis.
  • France’s government is considering food vouchers to help residents afford to eat.
  • Desperation in Ukraine:
    • Millions of refugees are pouring out of Ukraine and little ability to pay for their needs. Inside Ukraine, some towns have less than a four days’ worth of food, the aid agency Mercy Corps said Tuesday, warning that the humanitarian system in the country “is entirely broken down.”
  • The CEO of Dutch commodity trading company Vitol said this week pulling Russian oil off the Western market will force drivers and truckers to ration diesel fuel.
  • Meanwhile, the UK government is cutting taxes to help keep fuel affordable.

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