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There’s little need for words: Western economic sanctions on Russky gas and oil. Fuel prices go up. Price of everything follows (“Putin’s price hike”). Fed lifts interest rates. RBA follows.
Next … recession?
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We needn’t be in this situation. If Biden and co had not miscalculated, this wouldn’t have happened. Even if they had insisted in their obsession to get rid of “Pew-teen”, decisive climate change action would have rendered oil and gas irrelevant or at least made them a minor issue.
Man, “Pew-teen” is really a comic book evil genius. You must be one, to manipulate all those clever people into imbecility.
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Update (16/06/2022, 04:17 AEST):
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The Federal Open Market Committee just announced (02:00 PM NY time) an increase of 75 bps in the federal funds rate. The resulting target range is 1-1/2 to 1-3/4 percent.
The decision was widely expected. Many believe this will lead to a recession. This may be the start of a bumpy ride, so fasten your seat belts. I suspect somehow “Pew-teen” controls the FOMC.
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