The Federal Reserve and Its Inflation Target

For all the hungover Americans out there, I heard the best cure after a long day of drinking is to talk about inflation. Well, maybe it will just make your head hurt more, but you still have the weekend ahead of you to relax…

The Federal Reserve has been juggling lots of different things over the past few years, and attempting to keep our system balanced is no easy feat; however, the Fed’s job is just getting started. With the need for a massive industrial buildout coming down the pipe, raising rates could hinder this expansion and cause a huge swatch of problems. Then the Fed will have to factor in the decline in population growth which is creating a low-demand environment, necessitating an entirely new economic model.

So yeah, the Federal Reserve has their work cut out for them, but don’t worry too much. The Fed’s actions should remain effective and US economic growth should remain strong…if anything (like inflation) does run awry, we might see some “legislative intervention”.

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Here at Zeihan On Geopolitics we select a single charity to sponsor. We have two criteria:

First, we look across the world and use our skill sets to identify where the needs are most acute. Second, we look for an institution with preexisting networks for both materials gathering and aid distribution. That way we know every cent of our donation is not simply going directly to where help is needed most, but our donations serve as a force multiplier for a system already in existence. Then we give what we can.

Today, our chosen charity is a group called Medshare, which provides emergency medical services to communities in need, with a very heavy emphasis on locations facing acute crises. Medshare operates right in the thick of it. Until future notice, every cent we earn from every book we sell in every format through every retailer is going to Medshare’s Ukraine fund.

And then there’s you.

Our newsletters and videologues are not only free, they will always be free. We also will never share your contact information with anyone. All we ask is that if you find one of our releases in any way useful, that you make a donation to Medshare. Over one third of Ukraine’s pre-war population has either been forced from their homes, kidnapped and shipped to Russia, or is trying to survive in occupied lands. This is our way to help who we can. Please, join us.

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Transcript

Hey everybody, Peter Zeihan here. Coming to you from the lost wilderness in Colorado. This is Lost Canyon, which I found myself in and turned out to be a little bit more than I bargained for. Anyway, we’re taking questions from the Ask Peter Forum today. One question is about my prediction of facing several years of inflation at 10% or higher and whether the Federal Reserve should revise its policy on interest rates.

For those of you who are not financial aficionados, the prime rate is what the Fed sets. The idea is to keep it low enough to generate economic activity by making credit cheaper, but high enough that demand doesn’t get out of control and generate runaway inflation. If we’re looking at a 10% inflation rate, that’s a bit of a problem because the Federal Reserve targets a 2% inflation rate.

So, big difference. And, a little bit of rain. We’ll continue this in a minute.

During the financial crisis into Covid, we were basically at a 0% prime rate. We’ve been ticking up ever since. The Fed recently met and it’s around, let’s call it 5.5%, 6%, somewhere in there.

Anyway, the question is whether they should go higher.

Yes and no. First and foremost, the Fed is going to be wrestling with things that I can’t even imagine. So I’m not the kind of guy who says the Fed should do this or that. I would just say that the Fed has a lot of tools. As we saw during Covid and the decade before, they can use them in ever more creative ways. However, the key thing to keep in mind is that the reason we’re going to be having these high inflation rates is not necessarily because of growth per se, although that will be part of it, but also because we’re going to be doing a historically unprecedented industrial buildout. We basically need to double the size of the industrial plant and probably increase the amount of processing capacity we have for raw materials by a factor of ten. That’s going to use a lot of electricity, a fair amount of labor, and a huge amount of land. Normally, if the Federal Reserve was looking to get inflation under control, they would raise interest rates to make borrowing more expensive.

But if you do that now, you’re going to choke off that industrial expansion. We’re not engaging in this industrial expansion because we think it’s just a peachy keen idea. This is not normal economic activity. No, no, no. We’re anticipating the collapse of the Chinese and, to a lesser degree, the European industrial systems. So if we still want manufactured goods, we have to build the manufacturing plant.

If you were to raise rates in that environment, you would choke it off, and we would be left with higher costs of living because of a lack of goods rather than because of inflation. So basically, we get the worst of all worlds. There’s another reason why I’m not going to be needling the Federal Reserve to do anything specific.

That’s because the rules, as we understand them, are changing. Going back to the dawn of the first era of globalization that Columbus kicked off in 1500, economic activity on this earth has been based on more interaction, larger populations, more interconnections, greater financial penetration, more markets, and more technology. The core of all of that is more people. Well, that’s not happening anymore.

Countries as diverse as Japan, Korea, China, Taiwan, Thailand, Germany, Spain, Poland, and Russia—they’ve all aged out. It’s not that they’re going to die in the next year, although some of them are getting close, but they will never have larger populations again unless something really weird happens with migration. So if you remove that component—larger and larger populations—that has undergirded economic activity for the last 500 years, we need a new model. Because if it’s not based on population expansion and the market expansion that comes from that, what is it based on? Well, we don’t know. Any guide that we have is literally futile—500 years ago or more. So we’re going to have to figure out something new. We’re going to figure it out as we go.

Now, the advantage that the Federal Reserve has in this is that the United States is the first world country that does not face the same degree of demographic degradation as everyone else. Yes, the American birthrate has recently dropped by quite a bit. Millennials have more kids. But if we keep dropping at our current rate, we’re not going to be in the same situation as China, Germany, Korea, or Italy for another probably 40 to 60 years.

So we will get to see what everyone else does with monetary policy in an environment where there’s no demand to regulate. Because, let’s be honest here, interest rates going up and down—all that is designed to do is to regulate the amount of demand in the economy. And if your populations are declining, there’s no demand left.

So the Federal Reserve has more tools, its tools work better, and it’s a growth story. So regardless of what happens with policy, this is still a pretty positive outcome. The only way that I can see that the Federal Reserve might be forced to do something different is if inflation gets to the point that it becomes a political problem. Then the executive and legislative branches of the US government might work together to pass a law to tell the Federal Reserve what its goals are and how to achieve them.

We’re nowhere near that yet, but I would argue that’s the thing to look for—not this year, not next year, but thereafter. Alright, let’s see if I can get out of this canyon. Take care.

Inflation: What’s Causing It and Why?

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I’ve got some good news and some bad news on inflation in the US…one has to do with COVID, and the other is about the labor market. Which do you want first?

Let’s start with the good news. The US is finally emerging from its COVID mask of changing consumer behavior and crazy supply chain dynamics. That means we’ve settled into more stable consumption patterns, and supply chains have finally caught up…so headline inflation is decreasing. Yay!

Now, onto the bad news. We’re entering a (two-decade-long) period of labor shortages. As baby boomers retire, the Zoomers won’t be able to keep up with labor demands. And that shortage is only going to get worse until the mid-2030s.

While it’s nice to finally see COVID in the rearview mirror, we’re coming up on something much stickier that will plague our inflation rates for a while.

Prefer to read the transcript? Click here

Here at Zeihan On Geopolitics we select a single charity to sponsor. We have two criteria:

First, we look across the world and use our skill sets to identify where the needs are most acute. Second, we look for an institution with preexisting networks for both materials gathering and aid distribution. That way we know every cent of our donation is not simply going directly to where help is needed most, but our donations serve as a force multiplier for a system already in existence. Then we give what we can.

Today, our chosen charity is a group called Medshare, which provides emergency medical services to communities in need, with a very heavy emphasis on locations facing acute crises. Medshare operates right in the thick of it. Until future notice, every cent we earn from every book we sell in every format through every retailer is going to Medshare’s Ukraine fund.

And then there’s you.

Our newsletters and videologues are not only free, they will always be free. We also will never share your contact information with anyone. All we ask is that if you find one of our releases in any way useful, that you make a donation to Medshare. Over one third of Ukraine’s pre-war population has either been forced from their homes, kidnapped and shipped to Russia, or is trying to survive in occupied lands. This is our way to help who we can. Please, join us.

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TranscripT

Hey everybody. Peter Zeihan here. I am coming to you from Millennium Park in Chicago. And today we’re in to talk about inflation. So annual inflation rate right now is below 4%, coming down from nearly 10% to a little over a year ago. And we’ve got two things that are going on. One that is small, that is getting bigger by the day and one that is big, that is getting smaller by the day.

So first, the one that is big and getting smaller, that’s COVID. If you remember back to the days of the WHO, we were dealing with lots and lots of changes. Every time we had a closing, we’d stop buying services and start buying goods. Every time we had an opening, we’d flip. And, you know, if we were closed down, the goods that we would buy would be like home improvement items and computers.

And if we opened, we’d go to restaurants and go on vacation and have revenge travel. Every time something changed and opening and closing a new variant, a new vaccine, anti-vaxxers threw a fit hypochondria, got a hold of policy. Whatever it was, we would change what we do. We change how we act. And that would change the profile of the industry space because every time we change what we say, we want.

It takes about an 18 month period for industrial supply chains to catch up to what we say we need. Well, if you think back to about two years ago, Texas, Florida and Arizona reopened for the last time over the next few months. Every other American state except for California plus Ontario joined in as well. And then we got to a point where finally the rest of kid in California joined as well.

And we got back to some degree of normal. So it has been roughly 18 months. And so what we’ve seen in the last year is basically industrial supply chains catch up. We have gotten to a situation where most of the industry is now matching what has been a more stable consumption portfolio. And you should expect that headline inflation to continue ticking down bit by bit by bit.

You want to put the political terms. Inflation going down had absolutely nothing to do with the Biden administration. But it’s converse is also true. Inflation going up had nothing to do with the Biden administration. It was us. It was just us changing our minds about what we wanted and when that is going away.

What is coming up is labor inflation. The baby boomers are the largest generation we’ve ever had. Over half of them have already retired. And as they step back from the labor force, we’re discovering that the younger generation, the Zoomers, just don’t have it in them. They’re the smallest generation we’ve ever had, and they’re now the new force in the workforce.

And if you look at the difference between the exiting boomers and the entering zoomers this calendar year, we had a shortage of about 450,000 workers. That number is going to increase every year for the next 11 before peaking in 2034, had an annual shortage of about 900,000. How do we know they’ve already been born? We know what the inflow to the labor market looks like for the next 20 years, and we’re going to have to wait until another large generation enters the workforce.

Those will be the kids of the millennials. But that can’t happen until those kids grow up and get trained. And that won’t happen until the 2014. So a lot of the inflation that we’re seeing right now is going away, but it’s going to be replaced with something that is far more sticky and something that isn’t going to go away for quite literally decades.

So, you know, buckle up.

 

Inflation: The Gift that Keeps on…Taking

Over the past few years, every aspect of life has been trapped in a constant state of flux…thanks COVID. Unfortunately, the economy’s lack of stability forced inflation to skyrocket to 9%. The effect was devastating.

Supply chains catching up, a decrease in energy demands, and higher agricultural yields have ushered in a reduction in inflation rates. I suspect this trend will continue over the next few months, but it won’t last forever.

All this change and disruption (I’m talking electric infrastructure build-out, Ukraine War impacts, energy struggles in Germany and don’t even get me started on China) will gravely affect inflation rates.

Executive orders aren’t going to fix anything. We need sharp policy change. Without that, the low inflationary times of 22-23 will likely be the best we’ll see for a long time.

Here at Zeihan On Geopolitics we select a single charity to sponsor. We have two criteria:
 
First, we look across the world and use our skill sets to identify where the needs are most acute. Second, we look for an institution with preexisting networks for both materials gathering and aid distribution. That way we know every cent of our donation is not simply going directly to where help is needed most, but our donations serve as a force multiplier for a system already in existence. Then we give what we can.
 
Today, our chosen charity is a group called Medshare, which provides emergency medical services to communities in need, with a very heavy emphasis on locations facing acute crises. Medshare operates right in the thick of it. Until future notice, every cent we earn from every book we sell in every format through every retailer is going to Medshare’s Ukraine fund.
 
And then there’s you.
 
Our newsletters and videologues are not only free, they will always be free. We also will never share your contact information with anyone. All we ask is that if you find one of our releases in any way useful, that you make a donation to Medshare. Over one third of Ukraine’s pre-war population has either been forced from their homes, kidnapped and shipped to Russia, or is trying to survive in occupied lands. This is our way to help who we can. Please, join us.

CLICK HERE TO SUPPORT MEDSHARE’S UKRAINE FUND

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Why Are My Eggs So D*** Expensive?

Before we dive into today’s newsletter, I wanted to remind everyone that we are only 1 WEEK AWAY from the Webinar – Global Outlook: 1 Year Into the Ukraine War. So if you haven’t already signed up, click the link below for more info.

Now back to the eggs…

It’s time we get to the bottom of the question on everyone’s mind…why are my eggs so damn expensive?

Inflation takes no prisoners, but we may have another source to thank for this…avian influenza, aka bird flu. This resulted in a massive loss of chickens and the culling of herds to prevent further infection. And can you guess how you get more chickens?

You have to hold back some of your eggs, and then you have to wait…and then raise the chickens (for 2-6 months) to the point where they can start producing eggs. Unfortunately for us, this is how almost everything works in agriculture. You can’t just build a facility and start producing wheat overnight, you have to account for an entire production cycle.

Now take this framework and apply it to the Ukraine War. What happens when the fifth-largest exporter of wheat, the fourth-largest exporter of corn and the largest exporter of seed oils goes offline? The world’s going to have bigger problems than egg prices…

Prefer to read the transcript of the video? Click here

Here at Zeihan On Geopolitics we select a single charity to sponsor. We have two criteria:
 
First, we look across the world and use our skill sets to identify where the needs are most acute. Second, we look for an institution with preexisting networks for both materials gathering and aid distribution. That way we know every cent of our donation is not simply going directly to where help is needed most, but our donations serve as a force multiplier for a system already in existence. Then we give what we can.
 
Today, our chosen charity is a group called Medshare, which provides emergency medical services to communities in need, with a very heavy emphasis on locations facing acute crises. Medshare operates right in the thick of it. Until future notice, every cent we earn from every book we sell in every format through every retailer is going to Medshare’s Ukraine fund.
 
And then there’s you.
 
Our newsletters and videologues are not only free, they will always be free. We also will never share your contact information with anyone. All we ask is that if you find one of our releases in any way useful, that you make a donation to Medshare. Over one third of Ukraine’s pre-war population has either been forced from their homes, kidnapped and shipped to Russia, or is trying to survive in occupied lands. This is our way to help who we can. Please, join us.

CLICK HERE TO SUPPORT MEDSHARE’S UKRAINE FUND

CLICK HERE TO SUPPORT MEDSHARE’S EFFORTS GLOBALLY

TRANSCIPT

Still in San Diego, just had breakfast. And it occurred to me that, well, we’ve all been struggling with inflation for the last several months. But if you’ve noticed, eggs are by far the highest priced thing out there right now, based on where you are in the country, a dozen is now between $5 and $9.

The reason is not because there’s been a failure of the supply chain. The reason is not because there’s a shortage of imports. The reason, quite simply, is flu. The problem with maintaining chicken populations is that chickens are birds, and birds can fly…not the chickens that we raise for eating or for raising eggs, but other birds. And since birds are mobile, they carry their bugs with them and they crap. And the crap falls out of the sky. And sometimes it hits a domesticated bird.

Anyway, we had an outbreak of avian flu about a year ago, and as it roared through the Midwest and took out a lot of chickens, a lot of chicken farmers had to go through and cull their herds to prevent it from infecting anymore.

Now, from the point that you decide you want more chickens, you have to do two things. Number one, you have to hold some of the eggs back. So you’re talking about a reduction in output between a quarter and a half. Based on how fast you’re trying to recalculate. And then you got to wait because you got to raise these things. And it takes about I mean, it really varies greatly on the species, but somewhere between two and six months to raise an adult chicken to the point that it can be laying its eggs itself.

So this process started about three or four months ago. I mean, we have another 2 to 3 months to go before we really get that first huge additional generation assisting, and then we can start dealing with the backlog. So we are still looking at high egg prices for another 3 to 4 months. 

Now, this sort of thing is pretty common in agriculture. People forget that, you know, when we have a shortage in something like a car because we can’t get a spark plug or a semiconductor, once you get the new facility on line, all of the other parts can be in place. And then you just go through the semi-finished cars. You plug in this last piece and you’re good to go. Well, that doesn’t work with food. If you have a food shortage, doesn’t matter what it is. You’ve got to wait for an entire production cycle to go through. And if you’re talking about plant based agriculture, sometimes that’s another year. Everything has to be in place. The pesticide at the right time, the seeds at the right time, the irrigation at the right time, the fertilizers at the right time, the harvest at the right time. And if you miss any one of those pieces, if you have a yield at all, it’s going to be paltry compared to what you’re used to. And you simply have to wait for the next growing season for things to begin.

One of the things that we’re seeing in Ukraine more right now is that the Ukrainians have been favoring corn and seed oils in this food evacuation program that they basically have with the United Nations. Ships can come in and dock at Ukrainian ports. The Russians have promised not to bomb them. And so the Ukrainians have to choose what goes in. And as a rule, corn and oilseeds generate more income for them, then wheat. So that’s what they’ve been favoring. Wheat output from Ukraine has basically stopped whereas corn is more or less where it was before the war, maybe a touch higher replacing it that requires some other producer someplace else. Crop switching to wheat in order to plug the gap or bringing new land on line. Regardless, it takes a year. And remember, we haven’t yet seen the real disruptions to the Ukraine war because the Russians haven’t specifically targeted the ports in mass enough to disrupt large scale exports or really in totality. But we’re probably going to see that really soon.

By the time we get to spring, it’s going to be a different kind of war. The Russians are going to be very clearly going for the throat instead of targeting civilian electrical infrastructure, they’re likely to go after food production and transport. And if they do achieve a breakthrough in the southern front, they’re absolutely coming for Odesa because that’s where most of the commerce in and out of Ukraine transits.

We’re about to lose the world’s fifth largest exporter of wheat, fourth largest exporter of corn and top oilseeds exporter. And there’s no one in the world who has the scale or the spare capacity to replace that. And even if they did, you’re talking a year out. This is going to get a lot worse before it gets better, even if the Ukrainians actually win the spring offensive to come.

Alright. Until next time.

2023: Cheers to a New Year of Disruption

I’m always asked what I expect to happen over the next decade. Well, the globalization we’ve all come to love…you know, the one where everyone got everything they wanted…yeah, that’s changing.

The world has been globalizing since 1945 and even sped up after the Cold War. This caused the world map to shift. Colonies became countries; people started living in towns (aka cities), having fewer kids, and so on. The growth story since the Cold War can be surmised by one word – crazy.

But, we’ve hit a point of mass retirement across the globe. Consumption is falling. This is the point where history starts to turn. Welcome to the world of LESS.

Here at Zeihan On Geopolitics we select a single charity to sponsor. We have two criteria:
 
First, we look across the world and use our skill sets to identify where the needs are most acute. Second, we look for an institution with preexisting networks for both materials gathering and aid distribution. That way we know every cent of our donation is not simply going directly to where help is needed most, but our donations serve as a force multiplier for a system already in existence. Then we give what we can.
 
Today, our chosen charity is a group called Medshare, which provides emergency medical services to communities in need, with a very heavy emphasis on locations facing acute crises. Medshare operates right in the thick of it. Until future notice, every cent we earn from every book we sell in every format through every retailer is going to Medshare’s Ukraine fund.
 
And then there’s you.
 
Our newsletters and videologues are not only free, they will always be free. We also will never share your contact information with anyone. All we ask is that if you find one of our releases in any way useful, that you make a donation to Medshare. Over one third of Ukraine’s pre-war population has either been forced from their homes, kidnapped and shipped to Russia, or is trying to survive in occupied lands. This is our way to help who we can. Please, join us.

CLICK HERE TO SUPPORT MEDSHARE’S UKRAINE FUND

CLICK HERE TO SUPPORT MEDSHARE’S EFFORTS GLOBALLY

Implications of Rising Interest Rates

Is it a bird? A plane? Nope, just interest rates rising again.

At this point, most of us know the drill with the Federal Reserve raising and lowering interest rates to play puppet master with demand. However, not all of us have adult-experience with a period of high interest rates…I’m talking about millennials. And guess who is responsible for the majority of the demand across the world…millennials.

While the US has enough millennial-backed demand to get them through this recession, the rest of the world will quickly show how important it is to have a full quiver of monetary regulation tools at their disposal.

As this economic crisis unfolds across the globe, expect plenty of whining from your favorite crypto-bros, millennials and Germans.

Here at Zeihan On Geopolitics we select a single charity to sponsor. We have two criteria:
 
First, we look across the world and use our skill sets to identify where the needs are most acute. Second, we look for an institution with preexisting networks for both materials gathering and aid distribution. That way we know every cent of our donation is not simply going directly to where help is needed most, but our donations serve as a force multiplier for a system already in existence. Then we give what we can.
 
Today, our chosen charity is a group called Medshare, which provides emergency medical services to communities in need, with a very heavy emphasis on locations facing acute crises. Medshare operates right in the thick of it. Until future notice, every cent we earn from every book we sell in every format through every retailer is going to Medshare’s Ukraine fund.
 
And then there’s you.
 
Our newsletters and videologues are not only free, they will always be free. We also will never share your contact information with anyone. All we ask is that if you find one of our releases in any way useful, that you make a donation to Medshare. Over one third of Ukraine’s pre-war population has either been forced from their homes, kidnapped and shipped to Russia, or is trying to survive in occupied lands. This is our way to help who we can. Please, join us.

CLICK HERE TO SUPPORT MEDSHARE’S UKRAINE FUND

CLICK HERE TO SUPPORT MEDSHARE’S EFFORTS GLOBALLY

Where in the World: The Turner Headwall and…Walls

As long as I’m slaying sacred cows, let’s make sure I don’t miss anything: the border wall has been the biggest boon of the last 50 years to illegal migrants, COVID has made large-scale immigration an economic necessity, and Trump/Biden policies towards immigration are one of the three largest sources of inflation today.

Yeah, that should piss some people off.

We have never and will never charge for our newsletters or videos, but we do have an ask. If you enjoy our products, we ask you consider supporting MedShare by clicking one of the links below. MedShare is an established non-profit organization that helps respond to medical need globally, including to the ongoing crisis in Ukraine.

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The Un-Recession

Photo of man holding empty wallet

The latest jobs report–published August 5–showed that the United States added over half a million new jobs in the month of July. Unemployment is at or a near a 50-year low. Both points add credence to a growing number of economists who are pushing back against the claim that the US economy is official in a recession, despite recording negative economic growth two quarters in a row (the textbook definition of a recession).

Confused? 

You’re not the only one. The economy is contracting, albeit not by much, but consumer spending is near an all-time high. Unemployment is an all-time low. Manufacturing employment is up. The finance sector, less so. And yet inflation remains a persistent bugbear. What is clear, however, is that the old rules about how our economy works no longer apply. 

And finally, a small programming note: I’m spending the next month hiking and backpacking throughout the portions of the American West. We’ll pick up with more content and more regular dispatches the first week of September.

Inflation? We Ain’t Seen Nothin’ Yet

Inflation in the United States has reached a four-decade high, according to data released by the U.S. Labor Department July 13th. Gasoline costs are leading the pack of consumer goods facing rising prices, but it’s a good mix of everything. Which makes sense, given how many supply chain dislocations across the globe.

Fuels, fertilizers, foods, industrial inputs–most of these were still in a state of flux even before one factors in China’s Zero Covid lockdowns. And the Russian invasion of Ukraine. And mass Boomer retirement. In fact, as we’ve been telling clients for months now, inflation has few places to go but up. Furthermore, the traditional tools at central banks’ disposal to tackle inflation are unlikely to have the same impact that they might once have had.

So what does that mean for the future? Well, for one: inflation is anything but transitory. And any relief is not going to come in weeks or months for much of the world, but in years. At least the parts of the world that will see any relief. And then there’s the United States. We’re in a tough spot to be sure, but thankfully the fundamentals of the American economic system remain sound. Which is not to diminish the increased costs at the pump or the grocery store, but as Americans have shown for the last several months these are costs that the consumer can keep up with–demand remains strong, especially for non-essentials: flights, restaurants, and screenings of the new Minions movie are all apparently quite full.

Some Economic Questions…and Some News!

The nature of the economic system so many governments are attempting to grapple with right now is unprecedented in modern history. For much of the span of human history since industrialization, governments could reasonably promise their subjects some kind of more. The promise of more held that the economy–no matter the political system in charge of it–could be expected to grow, largely through population growth and rising demand.

Enter the End of More. A central theme of my equally cheery-titled new book, The End of the World is Just the Beginning, the pie for many countries is as big as its going to get. This is especially true for countries staring down terminal demographies: Germany, Italy, China, Japan. With population growth firmly in the rear view mirror, these countries can’t rely on a baby boom to spur consumption-led growth.

Which brings us to our current problem with inflation. Central banks’ primary tool in battling inflation is through raising interest rates. Making borrowing more expensive usually dampens demand, thereby pressuring prices to fall. The trick is not dampening demand too much, and risking recession. For the world’s oldest populations, this is going to be an near-impossible balancing act. 

And now for a bit of good news–The End of the World is now officially a New York Times best seller! On behalf of myself and my entire team: thank you, thank you, thank you.

Here at Zeihan On Geopolitics we select a single charity to sponsor. We have two criteria:
 
First, we look across the world and use our skill sets to identify where the needs are most acute. Second, we look for an institution with preexisting networks for both materials gathering and aid distribution. That way we know every cent of our donation is not simply going directly to where help is needed most, but our donations serve as a force multiplier for a system already in existence. Then we give what we can.
 
Today, our chosen charity is a group called Medshare, which provides emergency medical services to communities in need, with a very heavy emphasis on locations facing acute crises. Medshare operates right in the thick of it. Until future notice, every cent we earn from every book we sell in every format through every retailer is going to Medshare’s Ukraine fund.
 
And then there’s you.
 
Our newsletters and videologues are not only free, they will always be free. We also will never share your contact information with anyone. All we ask is that if you find one of our releases in any way useful, that you make a donation to Medshare. Over one third of Ukraine’s pre-war population has either been forced from their homes, kidnapped and shipped to Russia, or is trying to survive in occupied lands. This is our way to help who we can. Please, join us.

CLICK HERE TO SUPPORT MEDSHARE’S UKRAINE FUND

CLICK HERE TO SUPPORT MEDSHARE’S EFFORTS GLOBALLY