{"id":4522,"date":"2022-07-15T18:16:50","date_gmt":"2022-07-15T18:16:50","guid":{"rendered":"http:\/\/localtalkweekly.com\/?p=4522"},"modified":"2022-09-01T21:21:37","modified_gmt":"2022-09-01T21:21:37","slug":"inflation-economy-omicron-oil-ukraine-russia-recession","status":"publish","type":"post","link":"https:\/\/localtalkweekly.com\/index.php\/2022\/07\/15\/inflation-economy-omicron-oil-ukraine-russia-recession\/","title":{"rendered":"Inflation, Economy, Omicron, Oil, Ukraine, Russia, Recession"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/localtalkweekly.com\/wp-content\/uploads\/2021\/12\/Dhiren-Shah-1024x799.jpg\" alt=\"\" class=\"wp-image-3565\" width=\"224\" height=\"174\" srcset=\"https:\/\/localtalkweekly.com\/wp-content\/uploads\/2021\/12\/Dhiren-Shah-1024x799.jpg 1024w, https:\/\/localtalkweekly.com\/wp-content\/uploads\/2021\/12\/Dhiren-Shah-300x234.jpg 300w, https:\/\/localtalkweekly.com\/wp-content\/uploads\/2021\/12\/Dhiren-Shah-768x599.jpg 768w, https:\/\/localtalkweekly.com\/wp-content\/uploads\/2021\/12\/Dhiren-Shah-150x117.jpg 150w, https:\/\/localtalkweekly.com\/wp-content\/uploads\/2021\/12\/Dhiren-Shah-500x390.jpg 500w, https:\/\/localtalkweekly.com\/wp-content\/uploads\/2021\/12\/Dhiren-Shah-600x468.jpg 600w, https:\/\/localtalkweekly.com\/wp-content\/uploads\/2021\/12\/Dhiren-Shah.jpg 1118w\" sizes=\"auto, (max-width: 224px) 100vw, 224px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>EDITORIAL BY DHIREN SHAH<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Hello Readers,<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The biggest questions on every one\u2019s mind: Inflation, Economy, Omicron BA.5, Oil, Ukraine, Russia and the day-to-day pressures of life. The inflation rate hit 9.1% in June, which is the highest since 1981. Energy prices rose by about 35%, gasoline about 49%, fuel oil about 106% and electricity about 12%. For one week, the prices slightly went down for gasoline. But we should not forget the price fluctuations since 2000. The prices (at the start of January of each year) under George W. Bush were 2000 &#8211; $1.32, 2004 &#8211; $1.61, under Barack Obama: 2008 &#8211; $3.10, 2012 &#8211; $3.44, under Donald Trump 2016 &#8211; $2.06, under Joseph Biden 2020 &#8211; $2.64. 2021 &#8211; $2.42, 2022 -$3.41. Now it is $5.03 per gallon.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The second biggest scare is the inflation possibly triggering a recession in 2023. The necessities for all of us, mainly housing and food, have gone up drastically. It is harder to afford anything for the majority of the working middle class and working poor class. In 2020, the Biden Administration distributed a lot of money to help and sustain our lifestyle, including vaccinations, Covid tests and additional money via PPP loans to businesses and extra stimulus, $300 and $600, for unemployed people. It helped all of us, but that bill-printing habit of the federal government brought inflation. The dollar value is still very strong. After decades, the dollar is almost equal to the Euro and stronger in the world market. The economy is weaker all over the world. People believe in the US dollar, and that sustains a strong dollar due to inflation all over. The Federal Reserve is trying their best to stop the inflation, which is the main reason the dollar is stronger.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Omicron BA.5 has captured everyone\u2019s attention. On July 12, the world\u2019s new Covid cases were over 562,000, and in the US, over 95,000. That means about 17% of the Covid cases in the world were in the USA. For the past few months, we were getting back to our normal lives. All of a sudden, we might have to start using masks again in public places. Also, for those age 50 and over, we have to take a 2nd booster shot. I don\u2019t have a great knowledge about it, but we have to see the statistics, that booster shot recipients have better immunity than people who have not taken shots. Like before, California, Texas, Florida, New York, Illinois, New Jersey, and some other states are leading in new Covid cases. So, I suggest that we should starting using masks right away. Also, do not go near anyone who is coughing or feels sick. Omicron BA.5 is a fast-spreading virus, and they do not have a solution or specific vaccine for it yet.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Novak Djokovic has not been vaccinated. He has declined to participate in the US Open and earlier, he was not allowed to enter Australia due to his non-vaccinated status. He has missed two opportunities to become the all-time leader in tennis majors. Djokovic has won 21 grand slam titles, while the record holder at 22 is Rafael Nadal.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The crime index shows that our local area is not doing great. In Irvington, violent or property crime is 1 in 48 persons living there, while Orange 1 in 51, East Orange 1 in 62, Maplewood 1 in 71, Belleville 1 in 66, and Bloomfield 1 in 91. Montclair\u2019s crime has declined by 4% in 2021, while Newark violent crime rose by 4% and rose 6% in fatal shootings and rose 13% in non-fatal shootings. The data is taken from neighborhoodscouts.com. There are many changes in Newark\u2019s department of public safety, so hopefully that will work out for the benefit of the residents.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Have a wonderful week. I\u2019ll talk to you next week.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>EDITORIAL BY DHIREN SHAH Hello Readers, The biggest questions on every one\u2019s mind: Inflation, Economy, Omicron BA.5, Oil, Ukraine, Russia and the day-to-day pressures of life. The inflation rate hit 9.1% in June, which is the highest since 1981. Energy prices rose by about 35%, gasoline about 49%, fuel oil about 106% and electricity about [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-4522","post","type-post","status-publish","format-standard","hentry","category-editorial"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Inflation, Economy, Omicron, Oil, Ukraine, Russia, Recession -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/localtalkweekly.com\/index.php\/2022\/07\/15\/inflation-economy-omicron-oil-ukraine-russia-recession\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inflation, Economy, Omicron, Oil, Ukraine, Russia, Recession -\" \/>\n<meta property=\"og:description\" content=\"EDITORIAL BY DHIREN SHAH Hello Readers, The biggest questions on every one\u2019s mind: Inflation, Economy, Omicron BA.5, Oil, Ukraine, Russia and the day-to-day pressures of life. The inflation rate hit 9.1% in June, which is the highest since 1981. Energy prices rose by about 35%, gasoline about 49%, fuel oil about 106% and electricity about [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/localtalkweekly.com\/index.php\/2022\/07\/15\/inflation-economy-omicron-oil-ukraine-russia-recession\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-15T18:16:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-01T21:21:37+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/localtalkweekly.com\/wp-content\/uploads\/2021\/12\/Dhiren-Shah-1024x799.jpg\" \/>\n<meta name=\"author\" content=\"Dhiren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dhiren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" 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