Edward Luce is absolutely right seeing today's parallels with the US of the 1970s /FT, 14 January 2022/.

The 1970s really had the meme of rising inflation, spiralling crime, political drift and ominous geopolitics in America. The 1970s was really a transitional decade between the 1930s and the 1980s.

However, in the 1970s we had the same patterns worldwide due to the triggers of 1968 /Prague and Paris/, 1971 and the two oil crisis.

Fifty years later we start to recognize the same patterns globally due to the former American strategic decisions on the pandemic, the US-China relationship and Russia.

However, all the engines of change in the 2020s are bigger, stronger, faster and much more complex than they were in the 1970s.

Governor Matolcsy, MNB, the Central Bank of Hungary

Re "America's nagging echoes of the 1970s "

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Central Bank of Hungary published this content on 19 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2022 13:11:09 UTC.