The propaganda effort by western media, specifically but not exclusively U.S. media, to shift blame for massive economic damage from Joe Biden to Russia is reaching a stunning level of coordinated intent.
The cognitive dissonance (fancy words for telling lies under the cloud of economic analysis) is not only happening in the U.S; a similar level of blame-shifting is happening in Europe, Australia, Canada and most western media outlets.
The global economic contraction, which was specifically and intentionally created by the collective ‘Build Back Better‘ promoters, is now being blamed on Russia; and, quite frankly, the motive behind the corporate media shifting the blame is because the underlying ideology (western policy) was/is supported by the leftist media tribe.
Throughout 2021, it is well documented how government COVID policies of lockdowns, economic consequences and insane spending, created the baseline problem behind inflation. Simultaneously, the western approach toward energy development and the “opportunity” the EU and U.S. sought to exploit within the BBB agenda to radically transform energy use, was simply pouring super-volatile fuel on an already burning fire.
In 2021, gasoline prices increased 60 to 80 percent. Food prices jumped 15 to 40 percent, with some sectors even higher. By the time the EU central bankers and U.S. Federal reserve finally admitted inflation was no longer “transitory,” we were facing next harvest fertilizer prices that tripled in price from 2020, and oil prices that had doubled in the span of 12 months.
None of this had anything whatsoever to do with Russia’s plans for Ukraine. Every part of the economic problem was created by government policy.
The western working class are in an abusive relationship with western government.
Reckless spending during an intentionally blocked economy, combined with radically changed energy and monetary policy, created this storm of economic consequence. At no point in this scenario was the outcome not in the control of government.
These consequences were specifically caused by ideological decisions made by people who are never affected by them. However, in a sick, twisted and Machiavellian effort to avoid the pitchforks now heading in their direction, these government leaders and their media stenographers are trying desperately to pin the blame on Russian President Vladimir Putin.
This example from Axios today is a case study in blame shifting:
Economic forecasters are starting to plug the effects of the Ukraine war into their models. It doesn’t look good, especially for Europe.
Why it matters: Much of the world is set to experience weaker growth and higher inflation than seemed likely mere weeks ago. And that’s assuming some of the more dire possibilities that further escalation of the conflict could bring don’t materialize.
The big picture: Soaring energy prices are the most direct channel through which the world economy stands to be battered by the conflict. But rising prices for other commodities will also fuel inflation and could disrupt supply lines.
- These forecasts were made last week before a new surge in oil futures overnight Sunday into Monday that will only intensify these pressures.
- Moreover, geopolitical risk has tightened financial conditions, which could constrain investment — though that effect is modest so far.
By the numbers: Economists at JPMorgan said Friday they expect the world economy to grow 0.8 percentage points slower in 2022 than they did on Feb. 18. (read more)
Everything is obtuse crap.
However, in our discussions we do not need to pretend. Preparations require a brutal acceptance of the landscape that is in front of us, not some clouded avoidance that will only make us victims to our lack of acceptance.
In May and June of 2021, the entire economic machine shifted. That was when the final cash dump into the economy became visible. Everything since then is a direct outcome of that inflection point. It has been eight months of economic smoke and mirrors.
Inflation in the last half of 2021 was driven by spending decisions in the first half of 2021. That oil in the machinery has dried up. As we watched the reserve tanks emptying, CTH was warning -repeatedly- to prepare. Now, things are about to seize. We will see even more inflation as massive increases in fuel will drive up the costs of everything again.
It’s not an issue of whether a recession is possible, likely or probable. As we noted last year, the recession would have naturally taken place in the third and fourth quarter. It was clear that overall consumer demand was artificially propped up by govt subsidy. Government intervention stopped the natural demand contraction from surfacing.
Now, with even higher oil prices leading to $7/gal gasoline, there will be no way to avoid seeing the pain of an economic recession under much steeper terms than before. None of this is accidental. All of this is by design.
Massive increases in energy and gasoline costs are a feature of their plan, not a flaw.
Joe Biden always was the disposable political tool within this insidious scheme.
