It’s Putin’s Fault (Why Not?)

Inflation is soaring in this country, maybe the world, and now we have a brand new excuse…..It is Putin’s fault.

Just Stop It!

Let’s be honest…..2021 was a banner year for the oil industry alone…..

While millions of working people have been hurt by surging gas prices, a new analysis out Tuesday shows that 25 of the world’s biggest fossil fuel corporations collectively pulled in an “eye-popping” $205 billion in profits last year—and Big Oil is exploiting Russia’s war on Ukraine to charge even more at the pump in 2022 and advance its financial interests.

(commondreams.org)

We here in the US blame so many others for our growing problems…..for the GOP it is Biden’s fault or Clinton or Dems…..the Dems along with Biden are blaming the Ukrainian conflict and Putin as the culprit….

“Today’s inflation report,” US president Joe Biden told us on March 10, “is a reminder that Americans’ budgets are being stretched by price increases and families are starting to feel the impacts of Putin’s price hike.”

It’s the latest in a long line of dodges on the causes of US inflation, which took a dive in early 2020, then began its steady climb toward the current official rate of 7.9%.

The first explanation was that inflation increases were “transitory.” That explanation made sense. Or would have, anyway, if Congress and the Biden administration had brought government borrowing and spending levels back to pre-COVID-19 levels. Instead, they decided to go bigger. When the causes aren’t “transitory,” the effects won’t be either.

Because Biden and Congress were unwilling to rein in borrowing and spending (requiring the Federal Reserve to continue flooding the economy with newly created money), new excuses were required.

Next came “well, if you really think about it, inflation is GOOD – look, higher wages!” And, the US Labor Department did report an average pay increase 4.7% in 2021. But since prices jumped by at least 7%, those “higher wages” actually amounted to significant pay cuts.

(antiwar.com)

Inflation is caused by increasing the money supply faster than society increases its production of goods and services for sale. Everything else is an effect, not a cause.

Vladimir Putin came to Biden’s rescue and gave him yet another lame excuse to draw out pain instead of facing, and acting on, the truth.

Keep in mind that inflation was high before the invasion of Ukraine….and now Biden has an excuse he can use to the benefit of the greed of corporations.

All this ‘found’ cash over a $1 billion to send to Ukraine will just add to the deficit and give the GOP a weapon to be used in campaigns…..and the next Congress will have to face this question and the debate to cut social services will be the game of the day.

In other words the people of the US will pay the price for all our ‘support’ for Ukraine and their struggle against Russia.

For Christ sake…..stop worrying about a world away and start caring about your neighbors for they are far more important.

Sadly most of this will fall on deaf ears for few Americans actually care about their neighbors or their countrymen.

It is pathetic!

Turn The Page!

I Read, I Write, You Know

“lego ergo scribo”

11 thoughts on “It’s Putin’s Fault (Why Not?)

  1. Sadly most of this will fall on deaf ears for few Americans actually care about their neighbors or their countrymen.

    That is so true and really so heartbreaking. What happened to us, to America?

  2. The war was the icing on the cake for fuel companies. Over here, they were already increasing prices long before the Russian invasion of Ukraine. (With the collaboration of our totally corrupt govrnment) That just made them even more excited for profit, and those shallow, heartless bastards took no time at all in almost doubling prices. I would string up every CEO and oil trader from the nearest lamp-post, chuq. I hate them with a vengeance.
    Best wishes, Pete.

    1. I am with you…..some logic is needed and the brakes put on this runaway profit machine….I know it will not but I can dream. chuq

  3. Hold on, let me finish this video in Tik Tok quick before I respond……… Oh, I need to check to see if my place in line for Truth Social has changed……… /sarcasm. Indeed, pathetic. So few of us actually care what’s happening locally and giving two craps what happens on the other side of the world. Commodity markets can be easily manipulated because most of them are “futures” so the prices we’re paying now are what it’ll cost in the future; what a mind smack. We handled inflation in the 1980’s by slowly removing currency and interest rates skyrocketed to 17 and 18%. I’m sure that will happen again, because runaway inflation is all sorts of bad for the economy.

    1. Interest rates? That is the easy way to pretend to control inflation if they were serious about the people then price controls would go a long way to easy consumer pain……chuq

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.