Making Sense of It All

Things are starting to hit the fan. The delay between normal commerce that transpired before the war with Iran and the squeezed off supply of goods resulting from the closing of the Strait of Hormuz now appears to be manifesting itself. At least that's what those who speak of and know of these things are saying. And it makes sense, doesn't it? The vessels that flow through the Strait in normal times don't carry only oil. (Yes, there are some who still think it's only the transport of oil that's being squeezed.) Many other goods needed for manufacturing of consumer products also have been squeezed. And these goods have now begun to enter that state of scarcity that will cause consumer goods to rise in price. Remember: Supply and demand. Now such is not the only stuff that causes the inflation of prices (which for most of us is the most immediate instance of inflation in our lives). The massive creation of money by our banking system - far beyond any conceivable utili...