Posted on 06/18/2022 8:35:30 PM PDT by Mariner
Between a tanking stock market, soaring inflation, and mounting recession fears, Americans are turning on the economy.
And somewhere, Vladimir Putin is probably smiling about it.
Amid all the chaos, inflation has become the biggest financial concern of nearly every American as prices rise for everything from gas to groceries.
There are several reasons that inflation reached a 40-year-high of 8.6% last month, including rising rents and labor costs. But economists say a major driver is Russia’s invasion of Ukraine, and the subsequent disruption to commodities that it has caused.
“The Russian invasion and spike in oil and other commodity prices is the No. 1 reason, followed by the pandemic & the housing shortage,” Mark Zandi, chief economist at Moody’s Analytics, wrote in a recent Twitter thread.
The invasion in February immediately scrambled the global economy and sent international markets spiraling into uncertainty. Some commodities have been especially volatile, including oil and food, due to constrained supply from Ukraine and Russia.
Responding to the invasion, Western powers unleashed a crippling series of sanctions on Russia’s economy. Hundreds of international companies have left the country, and Russia’s subsequent isolation led to a GDP loss of 3.5% there in the first quarter.
But even as Russia’s economy feels the pain, President Vladimir Putin continues to dictate global prices for energy and food. Western sanctions are starting to hurt the U.S. and the rest of the world too due to recent surges in energy prices that have caused factory shutdowns and slower growth across the U.S. and Europe, proving that Russia has more leverage than Western leaders thought.
(Excerpt) Read more at yahoo.com ...
“If the war continues to drag on, global financial institutions including the World Bank say that it could have even more serious consequences for the U.S. economy. And experts have started to sound the alarm about another financial threat not seen in decades: stagflation, a toxic combination of high inflation and slow growth.”
Sure. Our economic problems are because of Putin, not Biden.
Penn and Teller told me all about “misdirection”. This is misdirection.
You are correct.
This idiotic sanction war is one of the main factors driving inflation. Anyone supporting it is a cancer to the conservative movement.
““In terms of rejecting our energy resources—this is unlikely over the next few years,” Putin said in a meeting with young entrepreneurs this week. And the Russian president may be right, as a recent analysis by Bloomberg forecasted that Russian oil and gas revenues will be as high as $285 billion in 2022, 20% more than last year’s windfall.
With Russia more financially stable than many in the West had hoped, Putin has been unafraid of shutting the gas valve to Europe. Only this week, Russia tightened gas flows and sent European prices surging 24%, an act some experts said was “politically motivated.”
“Even if the invasion of Ukraine isn’t going as planned for him, Putin may still be reassured that the war is causing severe economic distress in the West.”
It’s the sanctions, stupid.
The only entity killing America’s economy is BidenIdiot. Period.
Purposeful
Intended
According to plan
Wow, you are a real Biden-lover. Even the biggest of his supporters aren’t covering for him like you. Enough people like you out there abd maybe he could win in 2024.
Just stop sending Billions we don’t have to Ukraine and war will end quick.
Oil from Russia is being cut off but the US is not increasing its oil production to full capacity because Biden isn’t allowing it to happen.
Gotta “Save The Planet” from “Climate Change” LMAO.
Delusional if a third world country’s economy could affect ours.
Yup.
“Sanctions” only hurt those who impose them.
The problems at home (USA) is the policies of Plug’s handlers in the gov spending spree, forced green energy, shut down of economy with the China Virus and open borders.
Putin did not do this to us…Russia, Russia, Russia.
Let’s be blunt:
Those flying blue over yellow flags are TRAITORS!
Yup
The sanctions are ridiculous. They cant really expect to hurt Russia. They have every natural resource. They don’t need our currency. They don’t need our banking system. They own the store of first resort. The have gold. They have diamonds. They have food. They have oil. They have special metals. They have rare earths. They have military equipment. They have uranium. We have dollars. I think they win.
I don’t follow your logic. How is criticizing sanctions pro Biden?
The US under Biden has severely curtailed the fossil fuel industry. Russia under Putin is producing as much oil, gas and coal as it can. The US is becoming poorer. Russia despite the war is becoming richer.
Given the past works of America’s uniparty, globalist, neocons - one could have predicted that the consequences of their latest war would be disastrous for America.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.