Bank credit was up 18.1% year on year by mid-September. Fast credit growth combined with an oil shock and a weak currency is how an inflation problem becomes entrenched, which is why the RBI tightened while growth was strong.
War in Iran is testing global stability and assumptions. Values, friendship, and motivations are seen as more openly transactional
UK welfare spending is almost 11% of GDP which is more than the Income tax receipts of 10.5% . It is also projected to grow by 30% in the next 6 years.