Welcome to the commentary magazine Daily Podcast today is Wednesday January 12, 2022.

I'm John Pudhurtz, the editor of commentary norwaft.

When it's out this week with me, it's always executive editor, a brainwalled hi-aib, hi,

John.

And senior writer Christine Rosen, hi, Christine.

Hi, John.

We are going to spend much of the show talking about Abe's blockbuster piece.

Yes, this is a counter revolution, which will be available for all to read at commentary.org

after you listen to this.

Right now our paywall is down, so you can just go right there and read it without any

difficulty and you should do so because it's really a magnificent piece of work.

But before we do that, we need to get to the top stories of the day.

The top story of this morning is that the inflation rate came in for the month of December

at 7%, which is the highest annual annualized year to year since 1982, which of course

was the tail end of the great stagflationary spiral that afflicted the United States

from the 1970s through the early 1980s before.

It was broken by a combination of largely by Fed policy that drove the country into a severe

recession.

Amazing that it took 10 years to build to the stagflation of 2021.

In 1982, there was a 10 year build up until it really exploded in the late 70s.

We have here basically like five months build up to an inflation rate that we haven't

seen in 40 years.

...