Thursday, September 15, 2022
Wednesday, September 14, 2022
Self-Destruction..
The price cap plan agreed to by G7 wealthy nations calls for participating countries to deny insurance, finance, brokering, navigation and other services to oil cargoes priced above a yet-to-be-determined price cap on crude and oil products.
Yellen said the price cap is aimed at lowering revenue Russia could use to wage war in Ukraine while maintaining Russian oil supplies to keep global prices down.
The knowledge and talent of the wealthy nations, the G7, screwing up the world and their countries by, limiting, manipulating and raising the prices of energy that they need the most to maintain their above poverty level of living.
The knowledge and talent of the wealthy nations, the G7, screwing up the world and their countries by, limiting, manipulating and raising the prices of energy that they need the most to maintain their above poverty level of living.
Inflation already hit the USA, UK, and others by 9 percent. That is following by increase interest rate to counteract the inflation driving the economies right to few years of recession.
Cavalry..
Today's CPI inflation report shocked Wall Street and the nation with a significantly higher than expected print.
After several years of excessive federal spending, regulating, taxing and money-printing, the highest inflation in 40 years is deeply embedded in the economy and it is spreading.
Overall, the topline CPI came in at 8.3% for the year — food up 11.4%, even energy is still up 24%. Electricity is up 16%; natural gas 33%; new cars 10%. Even with the recent drop, gasoline is still 26% above a year ago.
There is another approach here that would help save America from a truly deep recession. Move to the supply side. Cut tax rates. Open the fossil fuel spigots. Stop the regulatory stranglehold on business. Start rewarding success instead of punishing it. Implement workfare to bring over 4 million people back into the labor force.
Unfortunately, the big-government socialists in the Biden administration don't understand any of this. Their woke progressive thinking has done great damage. It's an utter failure.
The good news is Americans know this. That's why the cavalry is coming. Just a thought.
Subscribe to:
Posts (Atom)