Global breakup.

"The war in Ukraine, gyrating gas prices, skyrocketing mortgage rates, the continued fallout of the covid--19 pandemic and the looming prospect of a recession - all these factors seem to be coalescing into chaos." DH. "The fear is real." The reason is that, "For roughly half a century, our political economy has been based on the governing concept of neoliberalism - the idea that capital, goods and people should be able to cross borders in search of the most productive and profitable returns." This created inequality as money moves easily but people cannot. "The world is beginning to reset." "French President Emmanuel Macron...said US trade and energy policies created a 'double standard' and Europe was left paying higher prices for its natural gas," as "The OilPrice.com report revealed that US natural gas exports to France increased 421% during the first eight months of 2022 but energy prices are soaring and increased by 1094% in August alone." News18. A direct result of sanctions on Russia, BBC, whose cheap oil and gas was making Europe richer. Europe was importing 40% of its natural gas "from Russia because it is both cheap and convenient," and "Germany alone accounted for around 20% of Russia's total gas exports in 2020 - but Germany also distributes Russian gas to other European countries." Time. Europe thought the US would gallop to its aid, and got shafted. Et tu, Brute? wikipedia. Not just that. "The decline in the global oil benchmark from nearly $128 a barrel has dovetailed with a jump in the dollar of about 15% over the same period." ET. "With next to no local crude supplies, each of the currency (euro) bloc's five biggest economies - Germany, France, Italy, Spain and the Netherlands - is at least 90% dependent on foreign purchases to run refineries." "The squeeze on energy supplies from Russia's moves to cut gas deliveries has driven huge increases in consumer prices, running at a record 9.9% in September." The US is raking it in. "Data released Wednesday (19 October) showed that overall consumer prices rose at a rapid pace in September from a year earlier, climbing nearly 11% in the European Union and 10.1% in Britain." ET. Bread prices are up 19% in the EU. "Across Europe, soaring inflation is behind a wave of protests and strikes that underscores growing discontent with the spiraling cost of living and threatens to unleash a political turmoil. ABC. "Despite natural gas prices falling from record summer highs and governments allocating a whopping 576 billion euros (over $566 billion) in energy relief to households and businesses since September 2021, according to the Bruegel think tank in Brussels, it's not enough for some protesters." "With another US Federal Reserve meeting scheduled for early November, experts are predicting another aggressive rate hike." CNET. That will make dollar even stronger, and inflation worse. Today is Diwali, the festival of lights. Hope and pray that it enlightens everyone. Remove missile threats. Make peace. Enrich the world. Happy Diwali.