After two years of shutdowns around the globe because of Covid-19 and the war in Ukraine the economy is in trouble around the world.
In Germany, they use gas to keep 600 tons of zinc worth 2.5 million euros ($2.5 million) in a molten state every day.
The metal will harden otherwise, wrecking the tank where steel parts are dipped before they end up in car suspensions, buildings, solar panels, and wind turbines.
Germany may have to impose gas rationing that could cripple industries from steelmaking to pharmaceuticals to commercial laundries.
Governments, businesses, and families worldwide are feeling the war’s economic effects just two years after the coronavirus pandemic ravaged global trade.
Inflation is soaring, and rocketing energy costs have raised the prospect of a cold, dark winter. Europe stands at the brink of a depression.
High food prices and shortages, worsened by the cutoff of fertilizer and grain shipments from Ukraine and Russia that are slowly resuming, could produce widespread hunger and unrest in the developing world.
Outside Uganda’s capital of Kampala, the grocery business has felt it in surging prices for necessities like gasoline, selling for $6.90 a gallon. Something that’s 2,000 shillings (about $16.70) this week may cost 3,000 shillings ($25) next week.
Up to 181 million people in 41 countries could suffer a hunger crisis this year, the U.N. Food and Agriculture Organization has projected. In Malaysia, vegetable farmers are paying fertilizer prices up more than 50%.
They also are paying more for supplies like plastic sheets, bags, and hoses. In Pakistan, whose currency has lost up to 30% of its value against the dollar and the government has increased electricity prices by 50%.
Hebrews 13:5 Let your conversation be without covetousness; and be content with such things as ye have: for he hath said, I will never leave thee, nor forsake thee.
1 Timothy 6:10 For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.
Matthew 6:19 Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal:
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