The European Central Bank raised interest rates a quarter of a percent claiming the effort will reduce energy prices. However, the primary cause of higher energy costs is energy policy not monetary policy.
As you can see, Europe is blaming the Iran conflict, and by extension blaming President Trump for inflicting higher oil and gas prices. Yet in reality, it was the European decision to cut themselves off of Russian oil and gas that led to their massive price increases.
In essence, if you ask yourself how far the EU collective is willing to go in order to combat the fictitious threat represented by Russia’s conflict with non-EU state Ukraine, it appears there is no upper limit. Rather than assist in a resolution of the Ukraine-Russia conflict, they are willing to keep fueling the war and diminishing their own economy in the process.
From the perspective of the welfare of the average European, none of this makes sense. This is bureaucratic ideology running amok.
FRANKFURT, Germany (AP) — The European Central Bank raised interest rates Thursday to cool inflation that is being fed by high oil prices from the Iran war. The decision was supported by a stronger-than-expected economy that suggests businesses can weather the higher borrowing costs.
The central bank for the 21 EU member countries that use the euro currency raised its benchmark rate by a quarter percentage point to 2.50% at a meeting held in Berlin, away from the bank’s Frankfurt headquarters.
Bank President Christine Lagarde said at her news conference that “the conflict in the Middle East continues to generate inflation pressures, and inflation is set to remain well above target for an extended period.”
“The outlook remains highly uncertain, with risks to the upside for inflation and to the downside for economic growth,” she said, adding that the bank would make future rate decisions meeting by meeting based on incoming data. She said the central bank would not commit to any particular path for rates before seeing the data. (read more)
It is ironic his announcement comes from Berlin as the German economy announces the loss of 100,000 auto workers while the EU Central Bank says, “a stronger than expected economy.”
Ever the faithful leftist WEF member, Poland Prime Minister Donald Tusk notes that Poland is paying the highest energy prices in the world, but he faithfully supports the EU agenda. Because it’s Russia’s fault, and of course he does.
“Why do they all look like Bond villains?”
Because they ARE Bond villains….only worse.
You beat me to it
“From the perspective of the welfare of the average European, none of this makes sense. This is bureaucratic ideology running amok.”
I often wonder how “the average European” is reacting to all this.
“The Wicked Man”-Proverbs 6:12-19
“A worthless person, a wicked man, Walks with a perverse mouth; He winks with his eyes, He shuffles his feet, He points with his fingers; Perversity is in his heart, He devises evil continually, He sows discord.
Therefore his calamity shall come suddenly; Suddenly he shall be broken without remedy.
These six things the LORD hates, Yes, seven are an abomination to Him: A proud look, A lying tongue, Hands that shed innocent blood, A heart that devises wicked plans, Feet that are swift in running to evil, A false witness who speaks lies, And one who sows discord among brethren.”
100%!
>> Therefore his calamity shall come suddenly; Suddenly he shall be broken without remedy.
It can’t be too soon.
“From the perspective of the welfare of the average European, none of this makes sense. This is bureaucratic ideology running amok”.
This containing crisis seems to me like a collection of thoughts from group of globalist dreamers that do not have the capacity to bring these dreams to fruition in the real world – no matter how hard they try.
I think it is just a lot of hot air propaganda to distract the masses of European natives as their countries spin faster around the toilet bowl before going into the sewer. The elites feel that they are somehow immune from the consequences of their actions. I guess some have forgotten European history, when the peasants are pushed beyond the breaking point.
“From the perspective of the welfare of the average European, none of this makes sense.”
That’s been my question all along. I hoped you knew the answer. For example, why flood their nations with uneducated unskilled people from third world hell holes when their “safety net” already can’t support their own people?
Evil for evil’s sake is the only explanation I have.
“Our ships must all sail in the same direction.”
Replace the word sail with sink. That is today’s EU. Now that the money stream of the US has been turned off they turn to their citizens to make the sacrifice under the crazy idea that raising rates will reduce energy costs.
Russia Derangement Syndrome (RDS) is real. These countries would rather destroy their people, and their country, as long as they remain in power. I can not figure out how ruling over ashes is appealing.