Saturday, July 30, 2022

Misery..


Today's Inflation has some similarities with the Seventies during President Carter's time.

The 1973 oil crisis began when Arab Petroleum Exporting Countries led by Saudi Arabia proclaimed an oil embargo. The embargo was targeted at nations that had supported Israel during the Yom Kippur War.  However, the Arabic world didn't shut down the oil production and sale.

This time, Biden and his Democrats created it by opposing US production and expansion of energy in addition to Sanctions on Russia's energy sale.

Earlier was an outside factor, this Biden/Democrats administration did it themself and with that higher prices- food shortage- Inflation and deterioration of economics here and abroad.

The cause differs, but the impact and the disastrous outcomes are the same, Misery for all. 

 Just a thought.

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