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→Joeflation
==Joeflation==
==Joeflation==
During [[Joe Biden]]'s term, the spike in inflation was especially hard towards 2021 [[Thanksgiving]] day, most Americans affected, polled, blamed Biden.
During [[Joe Biden]]'s term, the spike in inflation was especially hard towards 2021 [[Thanksgiving]] day, most Americans affected, polled, blamed Biden.
==Great Reset==
Russian President [[Vladimir Putin]] offered his explanation for inflation that racked global economies in 2022:
{{quotebox-float|"Surging inflation in product and commodity markets had become a fact of life long before the events of this year. The world has been driven into this situation, little by little, by many years of irresponsible [[macroeconomic]] policies pursued by the [[G7]] countries, including uncontrolled emission and accumulation of unsecured debt. These processes intensified with the onset of the [[coronavirus pandemic]] in 2020, when [[supply and demand]] for goods and services drastically fell on a global scale.
This begs the question: what does our [[Special Military Operation|military operation]] in [[Donbass]] have to do with this? Nothing whatsoever.
Because they could not or would not devise any other recipes, the governments of the leading [[Western alliance|Western economies]] simply accelerated their money-printing machines. Such a simple way to make up for unprecedented [[budget deficit]]s.
I have already cited this figure: over the past two years, the [[money supply]] in the [[United States]] has grown by more than 38 percent. Previously, a similar rise took decades, but now it grew by 38 percent or 5.9 trillion dollars in two years. By comparison, only a few countries have a bigger [[gross domestic product]].
The [[EU]]'s money supply has also increased dramatically over this period. It grew by about 20 percent, or 2.5 trillion euros.
Lately, I have been hearing more and more about the so-called – please excuse me, I really would not like to do this here, even mention my own name in this regard, but I cannot help it – we all hear about the so-called ‘Putin inflation’ in [[the West]]. When I see this, I wonder who they expect would buy this nonsense – people who cannot read or write, maybe. Anyone [[literate]] enough to read would understand what is actually happening.
[[Russia]], our actions to liberate Donbass have absolutely nothing to do with this. The rising prices, accelerating inflation, shortages of [[food]] and [[fuel]], petrol, and problems in the [[energy]] sector are the result of system-wide errors the current US administration and European bureaucracy have made in their economic policies. That is where the reasons are, and only there.
I will mention our operation, too: yes, it could have contributed to the trend, but the root cause is precisely this – their erroneous economic policies. In fact, the operation we launched in Donbass is a lifeline they are grabbing at to be able to blame their own miscalculations on others, in this case, on Russia. But everyone who has at least completed primary school would understand the true reasons for today's situation.
So, they printed more money, and then what? Where did all that money go? It was obviously used to pay for goods and services outside Western countries – this is where the newly-printed money flowed. They literally began to clean out, to wipe out global markets. Naturally, no one thought about the interests of other states, including the poorest ones. They were left with scraps, as they say, and even that at exorbitant prices.
While at the end of 2019, imports of goods to the United States amounted to about 250 billion dollars a month, by now, it has grown to 350 billion. It is noteworthy that the growth was 40 percent – exactly in proportion to the unsecured money supply printed in recent years. They printed and distributed money, and used it to wipe out goods from third countries’ markets.
This is what I would like to add. For a long time, the United States was a big food supplier in the world market. It was proud, and with good reason, of its achievements, its [[agriculture]] and farming traditions. By the way, this is an example for many of us, too. But today, America’s role has changed drastically. It has turned from a net exporter of food into a net importer. Loosely speaking, it is printing money and pulling commodity flows its way, buying food products all over the world.
The [[European Union]] is building up imports even faster. Obviously, such a sharp increase in demand that is not covered by the supply of goods has triggered a wave of shortages and global inflation. This is where this global inflation originates.}}
==See also==
==See also==