Energy inflation continues to pummel all western nations as they chase the climate change agenda. Today, the European Central Bank has raised interest rates to support the goal of lowered economic activity. Lowering economic activity lowers energy use.
Absent of any desire to raise energy supply and/or energy production, monetary policy can support the goal of lowering energy use by driving down all economic activity.
In the big transition picture, the economies within the western alliance must be reduced until they match the energy output of windmills and solar farms.
FRANKFURT—The European Central Bank raised interest rates by the largest amount since the early days of Europe’s currency union, moving aggressively to combat record inflation even as an energy crisis puts Europe on the brink of recession.
The bank said in a statement that it would increase its key rate to 0.75% from zero—its second hike this year following a 50-basis-point rise in July—and signaled that further rises were likely over the coming months.
At a news conference, ECB President Christine Lagarde warned that inflation was spreading beyond energy to a range of products. She said the ECB was ready to increase rates aggressively over the next several meetings.
“We want all economic actors to understand that the ECB is serious” about combating high inflation, Ms. Lagarde said. (read more)
A few months ago, amid all of the headline warnings about inflation and prices of essential products, CTH noted that if we were to continue waiting about six months, we would see a massive backlog of unsold goods and as a consequence the prices of non-essential durable goods would begin a rapid decline. That exact scenario is unfolding. Keep watching.
Keep in mind, this is not necessarily a collapse of total global economic activity; what we are seeing is a collapse of western nation economic activity that is impacting the rest of the world. A great economic fracturing is taking place as the western nations intentionally shrink their economy. The supplier nations are feeling the consequences.
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.
Joe Biden is blocking domestic energy production as he follows through with the agenda of the Green New Deal. In Europe, not coincidentally demanded by Biden, a similar outcome comes from the sanctions and blocking of Russian energy resources.
One could make a reasonable argument that the team behind Joe Biden specifically wanted the EU sanctions against Russia, because the U.S. crew wanted to keep both industrial economies mirroring each other as the U.S. energy system was dismantled. It would make sense to avoid a spotlight on the U.S. economic collapse, by forcibly pushing the EU economy into the same situation.
Taking that line of geopolitical and economic consequence one step further, and that would be part of the strategy -albeit undiscussed- behind having a consistent global cap on the price that any nation could pay for Russian oil. That approach is not about punishing Russia, it is to make all of the economic pain and problems equal amid all western nations. Globalists, and the central bankers, are good at creating economic systems to deliver equitable misery.
Why do the WEF/EU types always seem to look like they’ve dressed for a meeting of the Galactic Council?
Attention all members of the World Economic Forum
Attention all members of the World Economic Forum
Attention all members of the World Economic Forum
We have assumed control
We have assumed control
We have assumed control
2112
Awesome ballad Didn’t work for me the protagonist committing suicide at the end. Should have hopped the turbine freight to far outside the wire where his white haired uncle waits.
Attention all members of the World Economic Forum…F you
I noticed the weird outfit too. Maybe she’s wearing it to make her enormous schnazola look smaller
Maybe she’s dressed for a funeral? Which begs the next question….
There is a reason. Why these people are still breathing is beyond me. The time is certainly getting closer.
😂 so true
I was thinking more along the lines of a central character in American Horror Story.
These academic communists are awful…
This person looks like the Wicked Witch of the WEF.
Be warned!
“Amazon took all U.S. solar rooftops offline last year after flurry of fires, electrical explosions. ” Between April 2020 and June 2021, solar panels atop Amazon fulfillment centers caught fire or experienced electrical explosions at least six different times. “The rate of dangerous incidents is unacceptable, and above industry averages,” an Amazon employee wrote in an internal report viewed by CNBC. Rooftop solar is part of Amazon’s broad plan to zero out emissions by 2040.” https://www.cnbc.com/2022/09/01/amazon-took-solar-rooftops-offline-last-year-after-fires-explosions.html?__source=iosappshare%7Ccom.apple.UIKit.activity.Mail&fbclid=IwAR12DwDFgGqvB3x29KdvzrMGEXXFlGA3-HkSAAtKDkxQCt7qSzUixisVvzg
A whole bunch of female “leaders” are engaged in pure magical thinking about how economics works, including supposed economists like Yellen. What a gigantic fraud.
They think that because the massive shortages that result from unplugging our existing energy systems cause massive price spikes, that will somehow power a transition to a non-existent alternative energy system.
No, unplugging our existing energy systems leaves us without the power to power anything, and the resulting price spikes are an alarm that many productive activities are not getting the energy they need to survive and are starting to die, like parts of a brain dying off during a stroke.
Yellen, Granholm, von der Leyen, and this Lagarde woman who thinks that what was caused by curtailing fossil energy production can be rectified by raising interest rates, yikes.
But it’s not just the women. That supposed German economic minister Robert Habeck who Sundance linked the other day was the worst, pretending he couldn’t figure out that businesses that can’t afford to stay open are on their way to bankruptcy, and that their employees will go bankrupt, and their creditors, and that if this happens across wide swaths of the economy the economy will collapse.
German Minister of Economics, Robert Habeck, Under Fire as Energy Driven Reality of Economic Collapse Starts Sinking In – The Last Refuge (theconservativetreehouse.com)
In that case it was a woman poking him to see if his neurons were actually firing. There is idiocy outside of affirmative action too, but wherever there are favored groups, that lowering of the bar is going to be used to bring in useful dolts: people who are incapable of comprehending the substance of what they are responsible for and just know what the politically correct line is.
He is not an idiot, he is a killer. And in the interview it was clear, that he does not object small (ie non-essential, luxory) businesses to disappear. No bakery, but we still have Aldi.
Hows about quit printing trillions of fake dineros and trim a bit of spending. Oh and the high collar is to keep the fake puppet head from rolling off.
Well she’s dressed appropriately for it. She looks like a Targaryen and she means business. Yikes, scary human.
Did any of these figureheads take Econ 101? Acute (product specific) inflation is a supply side issue. Stop with the limitations on production of the energy raw materials we need TODAY….and stop pushing the energy categories that are decades or forever from being economically viable.