Friday, September 2, 2022

Forget Joe Biden. Forget Janet Yellen. Ignore Karine Jean-Pierre. Listen to Putin

Surging inflation and product and commodity markets had become a reality long before the events of this year.  The world has been driven into [this] situation by many years of irresponsible macroeconomic politics pursued by the G7 countries, including uncontrolled emission and accumulation of unsecured debt unable or unwilling to find other solutions.  The governments of leading Western economies simply accelerated their money printing machines and used this ignorant method to cover their unprecedented budget deficits.  I have already cited this figure over the last over the past two years. The money supply in the United States has grown by more than 38%, that's $59 trillion dollars. The EU's money supply has also increased dramatically over this period: it grew by about 20% or $2.5 trillion euros. Today's rising prices, accelerating inflation, shortages of food and fuel, and problems in the energy sector are the result of system-wide errors in the economic policies of the current US Administration and European bureaucracy.  So they printed money in huge quantities.  Where then did all the money go? It obviously went towards purchasing goods and services outside the West. This is where the newly printed money flowed. They literally began to vacuum up and sweep out global markets.  The interest of other states, including the poorest ones, were disregarded; they were left with scraps at exorbitant prices.  At the end of 2019, the US imported about $250 billion dollars worth of goods per month. This figure has now grown to $350 billion dollars. It is noteworthy that the growth was 40% exactly in proportions the unsecured money supply printed in recent years.  They handed out printed money and used it to sweep up good from the market of third-world countries.  Obviously such a sharp increase in demand without adequate supply has triggered a wave of shortages in global inflation, and this is where the global inflation originates. 

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