Peter S. Goodman

@petersgoodman.bsky.social

Global Economic Correspondent, NY Times. Former Shanghai buro chief, WashPost. Author of HOW THE WORLD RAN OUT OF EVERYTHING: Inside the Global Supply Chain and DAVOS MAN: How the Billionaires Devoured the World

Whatever comes next in Strait of Hormuz, a profound shock will continue to play out across scores of poor and mid-income countries recently accustomed to upward mobility. A reversal of fortune is underway as food, fuel and fertilizer prices are lifted by scarcity and disruption.

It's quaint to talk about inflation reports and surprising softness on the margins when in 13 days the out-of-pocket cost of health insurance is going to rise for 26 million households by an average of 75%

Why do otherwise intelligent people insist on referring to Milei economics as “radical free market” while pointing to his insistence on “maintaining a strong peso to crush inflation? In a truly free market the peso would sink like a stone.