Reading lines from the prepared fake news script for him to recite on Tuesday, dementia Joe’s double once again embarrassed him with worlds apart from reality remarks like the following rubbish:
“Putin is just trying to wipe out the idea of even being — being able to be Ukrainian (sic).”
Nonexistent “evidence is mounting…literally the horrible things that the Russians have done in Ukraine (sic).”
And this on soaring made-in-the-USA energy costs and overall inflation:
“Putin’s invasion of Ukraine has driven up gas prices and food prices all over the world (sic).
“Seventy percent of the increase in prices in March came from Putin’s price hike in gasoline (sic).”
The relation between Russia’s special military operation in Ukraine and inflation is how the US-dominated West responded.
Threatened Western cutoffs of Russian energy imports by sanctions war contributed greatly to their soaring cost.
Wall Street-controlled Fed money printing madness is the main offender by far.
Here’s what godfather of free-market Austrian economics, Ludwig von Mises, once explained:
“There is no means of avoiding the final collapse of a boom brought about by credit expansion.”
“The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”
According to analyst Nick Giambruno:
“The Fed has two choices:
Keep printing trillions of dollars and let inflation skyrocket, or
Tighten monetary policy and watch the markets crash.
In other words, it can sacrifice the stock market or the dollar.
The most sensible solution is “politically unacceptable” — the latter option over the former.
While the former option can maintain a semblance of economic and financial stability, an eventual day of reckoning cannot be avoided.
What can’t go on forever, won’t.
As the saying goes, you can pay now or later.
By far, the US is the biggest debtor nation in world history — with over an almost incomprehensible $30 trillion debt burden.
It’s the main driver of inflation by far.
The larger the debt grows from continued money printing madness, the more pressure exerted in inflation to keep rising.
It’s higher today than at any previous time in the past 75 years — and rising.
“The US government is incentivized to continue creating ever-increasing amounts of inflation,” Giambruno explained.
It’s good news for markets temporarily, bad news for the dollar, and devastating news for the vast majority of Americans.
They’re increasingly hard-pressed to make ends meet with costs of goods and services way exceeding increases in income.
While push will eventually shove Fed policymakers to change course, “(i)n the long run we are all dead,” economist John Maynard Keynes once observed.
When tightening replaces money printing madness — or sooner — way-overvalued stock prices are highly likely come tumbling down with a thud of historic proportions.
Their current level is unsustainable.
Whenever valuations have gotten anywhere near today’s level, the bubble always burst.
This time won’t be different, notably because of historically high over-valuations.
Dementia Joe’s double sounded daft, claiming:
The regime he nominally heads is “doing everything…to bring down prices (sic).”
Saying “we’ve already made progress since…March” is belied by cold, hard reality.
Based on how US inflation was calculated pre-1990, it rose year-over-year from 16.05 – 17.15% in the latest monthly reporting period.
On April 12, economist John Williams stressed the following:
“Year-to-year inflation continued to surge (in) March…hitting new multi-decades high, circumstances in place before” what’s happening in Ukraine.
They were “exacerbated by same” because of unparalleled US/Western sanctions war on Russia.
Their policymakers literally shot themselves in the foot by the blowback cost to their economies because of harebrained actions taken.
Bad as things are now, they’re likely to worsen ahead as greater US/Western toughness is likely to be exerted on Russia — no matter how hard it hits ordinary people throughout the West.
Pretense otherwise by the White House imposter, other regime officials, their Western counterparts and MSM echo chamber won’t lessen increasing hardships on most people in their countries and elsewhere.
If humanity avoids the unprecedented risk of thermonuclear war since the dawn of the nuclear age in 1945, honest historians are highly likely to call the
Biden regime the most recklessly dangerous one in world history.
From kill shots with mass extermination in mind to unparalleled sanctions and proxy hot war on Russia — what risks crossing a rubicon or no return — humanity’s fate is on the line like never before.