It is interesting to remember the recent comments from Christine Lagarde, the president of the European Central Bank, who outlined the EU energy crisis as the heart of the current inflation rate in the eurozone. Lagarde discussed inflation in Europe while drawing a distinction in COVID-19 spending between the EU and U.S.
Essentially, according to Legarde, the EU subsidized businesses to maintain employment; the EU covered payroll expenses during lockdowns, while the U.S. sent direct payments to the American people who were impacted by the lack of work (basically everyone).
Lagarde outlined this difference in spending approach to explain why the Eurozone inflation was less than U.S. inflation.
How long did that EU Central Bank explanation hold up? Approximately two months.
The U.S. inflation rate is currently estimated at 8.6%, and today the eurozone inflation rate just reached,…. wait for it,… Yep, an exact match at 8.6%.
LONDON (AP) — Inflation in countries using the euro set another eye-watering record, pushed higher by a huge increase in energy costs fueled partly by Russia’s war in Ukraine.
Annual inflation in the eurozone’s 19 countries hit 8.6% in June, surging past the 8.1% recorded in May, according to the latest numbers published Friday by the European Union statistics agency, Eurostat. Inflation is at its highest level since recordkeeping for the euro began in 1997.
Energy prices rocketed 41.9%, and prices for food, alcohol and tobacco were up 8.9%, both faster than the increases recorded the previous month.
Demand for energy has risen as the global economy bounced back from the depths of the COVID-19 pandemic and Russia’s invasion of Ukraine made things worse.
European Union leaders agreed to ban most Russian oil imports by the year’s end, driving a price spike. The 27-nation bloc wants to punish Moscow and reduce its reliance on Russian energy, but it’s also adding to financial pain for people and businesses as utility bills and prices at the pump soar. (read more)
Keep in mind, the EU and the U.S. are both chasing the climate change energy shift as dictated by the World Economic Forum in the Build Back Better program.
If you factor in the dramatic impact in both the EU and the U.S. from energy policy; and then if you calculate the COVID-19 spending as a percentage of the GDP from both economies; what you will discover is the direct similarity that creates the 8.6% inflation match.
The EU spent less on their COVID-19 programs. However, as a percentage of their economy they spent about the same as the U.S.
Joe Biden spent more, but the U.S. economy is bigger than the combined eurozone.
The inflation hitting the EU is almost identical to the inflation hitting the U.S. because the Russian energy sanctions are almost identical in impact to the EU energy sector as Joe Biden’s energy policy (a blockage on energy development) is to the United States.
The current similarity in the inflation rate between the U.S. and EU is specifically because politicians in both regions followed the exact same instructions from the World Economic Forum.
The outcome is ironically a global synergy as the economies of the EU and USA start to collapse.
None of this is accidental. All of this economic turmoil is running on an identical track -on a global basis- because the entire western plan was coordinated and followed. What we are seeing right now is the outcome of the “Build Back Better” roadmap. The “global inflation” is the outcome.
Brian Deese is as useless as the band leader on the Titanic who kept the band playing.
All they need to do now to complete the proverbial “bed they made”, is to pump sewage up into the blades of their glorious wind turbines.
And sleep in it
This crisis is 100% caused by evil, plotting globalists and their lackeys in positions of authority.
All of it could be immediately improved. But they want things to get even worse.
The intentional aspect of this damage is what the Karens cannot or will not see. The idea that their government is intentionally trying to ruin their country and way of life is similar to the truth behind the “blue pill” or “red pill” in the Matrix.
Nancy, your post and comment regarding the Karens is so true and so ugly. Again, critical thinking has been replaced by hateful mean spirited vindictiveness. It’s really all these people have to offer.
Even if you convince the Karen’s the destruction is intentional – they will support the international destruction … because it’s democrat destruction.
Liberalism truly is a mental illness.
We have to kill 90 percent of the earths human population, in order to “Save our asses, er I mean save the PLANET!”
CHIP away gradually, at peoples liberties, in a slow boil the frog march thru the institutions HAS “worked” (so far) for them, quite well.
BUT, robbing livlihoods, manufacturing food and energy shortages, then starting a war to blame it on, cavalierly shredding their credibility and basically saying “tough, deal with it, we got a planet to save, and you need to SACRIFICE,…
I just don’t see how they can possibly prevail in this,…or WHY they are even trying it
I KNOW they are Insane, but this makes no friggin sense.
They think they won’t be affected. How long to you think they “won’t be affected”?
You can always tell when Laguard is lieing,…her lips are moving.
With the bonus that the EU gets to import the bulk of its energy..
These EU leaders are like the band on the Titanic
who kept playing thinking their actions would make a difference.
Unfortunately their citizens face the worst – man made – disaster since WWII.
So much for all the promises of democracy and neo-socialism.
Does the Build Back Better scheme extend into Asia? The globalists have been destroying the west for a few years now, pushing a eugenics program aimed at collapsing the ethnic western population (read: white people). Russia is the only white nation I know of that has absolutely refused globalism, which is why the globalists want to crush that nation. Meanwhile, India and China are the two most heavily-populated nations on earth, and by a lot. Are those nations doing anything to curb their out-of-control breeding? I haven’t heard that they are. Yet the westerners are expected to die, which I suppose would free-up a lot of real estate for the overflowing Asian populations.
The cure is nationalism. We all know what must happen to the globalists to achieve any sort of peace and prosperity, but the end game is nationalism if you want that prosperity to last for more than a few years. Trump was in the Oval Office long enough to learn what needs to happen to stop the globalists – to take the power away from the hundreds of almighty government agencies and restore order to the nation. The MAGA leadership knows exactly what needs to happen. That’s why the globalists went full retard with the Biden administration. They’re trying to tear apart everything as quickly as possible, before the MAGA nationalists move in and crush their filthy communist enterprise.
Yes, but is it really 8% or the real 20% like US fails to report?
We have governing bodies which lie to us to make their policies appear better than they are.
Here’s a question:
What happens to EU as the dollar continues to lose ground as the reserve currency?
Inquiring minds want to know.
“Any institution which does not suppose the people good, and the magistrate corruptible, is evil.”
-Maximilien Robespierre
Just to be clear, Poland never used EURO, neither did Denmark, Sweden, Czech Republic, Hungary, Romania, Croatia or Bulgaria.
Every time I see a government published inflation number I laugh my a $ $ off. America is over 20%, Canada is over 20% and you can be damn sure the EU is over 20%.
This winter is going to be devasting to the EU. no food and no power. Going to be interesting to see what the people do. Going to be interesting to see what the Muslim population does when they can’t feed their 8 to 10 children per family.