A major state actor could now legalise internet piracy and hacking
Today gas prices in Europe rose to 800p per therm — an eighteen-fold increase in just one year. Meanwhile, fertiliser prices are set to rise and with them food prices, with wheat prices basically doubling since last year. Financial markets are now openly fretting about stagflation (the combination of soaring inflation and stagnation in the economy). We have not seen it since the 1970s and it is unclear how our now overly financialised economy will respond to it, but my bet is that economies today are far more prone to stagflationary chaos than they were in the 70s.
