Russia-Ukraine: Two years of war
READ NOW
Scroll to the top

{{ subpage.title }}

Santa does his holiday shopping

(Photo by Telmo Pinto/NurPhoto

Hard Numbers: Santa sees holiday sales surge, Ukraine scores a win at sea, Catholic monasteries busy brewin’ beer, Opposition candidates cry fraud in Congo

3.1: The Christmas spirit proved stronger than inflation this December, with American retail sales rising 3.1 percent over the same period last year. But Santa Claus can’t take all the credit. The holiday sales surge was largely driven by a healthy labor market and wage gains, suggesting that although inflation is hurting Americans’ pocketbooks, the overall US economy remains strong.
Read moreShow less

Hordes of shoppers throng the Macy's Herald Square flagship store in New York on Black Friday.

Levine-Roberts/Sipa USA via Reuters Connect

Exclusive polling data: Is inflation turning Americans into Grinches?

We’re excited to unveil a new exclusive polling partnership with the survey firm Maru Public Opinion. First up: How much are Americans reaching for their wallets this holiday season?

___________________

'Tis the season for gingerbread, gelt, and glee. But after a year of unwinding from pandemic-related supply chain issues amid four-decade-high inflation and a war in Ukraine, just how festive are we feeling with our pocketbooks?

Read moreShow less

COVID-19 holiday update: The latest on the Omicron variant

COVID-19 holiday update: The latest on the Omicron variant

Daily coronavirus infections in the US reached an all-time high this week, with nearly 484,377 confirmed new cases on Wednesday alone. Several European countries including the UK, France, Italy, and Spain are also setting pandemic records. Public health officials are blaming the sharp spike in cases on the rapidly spreading Omicron variant.

The last time I wrote about Omicron was on December 3, only weeks after the strain was first discovered in South Africa. There was a lot we didn't know about the new variant back then, but tons of new data has come out since.

To get you a lowdown on this latest stage of the pandemic, I sat down with Eurasia Group's top public health expert, Scott Rosenstein. Our conversation (lightly edited for clarity) is below.

Read moreShow less
The shipping container shortage that’s wreaking havoc on the global supply chain
The Shipping Container Shortage That’s Wreaking Havoc on the Global Supply Chain | GZERO World

The shipping container shortage that’s wreaking havoc on the global supply chain

Spare a thought for the poor shipping container, responsible for most of the world's trade. It's had a rough year that started with the gargantuan Ever Given getting stuck in the Suez Canal.

Now the Suez traffic jam has gone global.

When the pandemic started, everyone needed COVID supplies from China. Chinese factories couldn't keep up with soaring demand from Western nations, and empty containers started to pile up in faraway ports.

Sending one of these ships from Shanghai to Los Angeles has jumped more than ten-fold from $2,000 to $25,000.

And as demand increases even more, the problem is getting worse — a vicious cycle with no end in sight just as the holidays approach.

Watch this episode of GZERO World with Ian Bremmer: Inflation nation: What's driving US prices higher?

Subscribe to GZERO on YouTube to be the first to see new episodes of GZERO World with Ian Bremmer: https://bit.ly/2TxCVnY

Inflation nation: What’s driving US prices higher?
Inflation Nation: What’s Driving US Prices Higher? | Economist Larry Summers | GZERO World

Inflation nation: What’s driving US prices higher?

As the holiday shopping season gets underway, consumers are facing empty shelves and sky-high prices. What explains the supply chain crunch and how is it related to the highest levels of inflation in the US in 30 years? Ian Bremmer is joined by economist Larry Summers, who served as the Treasury Secretary under President Clinton and as the Director of the National Economic Council under Barack Obama. Also on this episode of GZERO World with Ian Bremmer: the plight of the lowly shipping container.

Read moreShow less

Subscribe to our free newsletter, GZERO Daily

Latest